TAX PLANNING & PREPARATION

Preparing and planning your taxes is a time consuming task. Why not let our professional team handle your needs, most taxpayers believe in using the services of a professional tax preparer.
1040 Planners LLCcan help you prepare and plan your tax return with applicable IRS forms such as

• Federal Resident Returns on Form 1040 with applicable schedules,
• Non-Resident Returns – 1040NR
• Amendment returns – 1040X
• Tax return Preparation for – State, City & Local
• ITIN Assistance
• W4 Guidance

At 1040 Planners LLC we provide the corporate tax services such as:

BUSINESS INCORPORATION & CONSULTING SERVICES:
We assist Individual Entrepreneurs/Existing Business Corporations/Small Business Owners in establishing new businesses in USA.

• Employer Identification Number (EIN) Application
• Preparation and Filing of the Articles of Formation for your new company
• Filing Federal & State Tax Return Preparation (1065, 1120S and 1120)

Received a Tax Audit Notice? Don’t worry! Our team of experts are here to help you.


We will represent you in case of any audit, enquiries, notices received from IRS, State & Local Revenue Departments to the best of your own advantage and we assure you that you will be represented in a professional way.

The goal of tax planning is to arrange your financial affairs so as to minimize your tax liability and maximize tax benefits. You can reduce your income, increase your deductions, and take advantage of tax credit as allowed by IRS. We will help businesses grow by calculating the taxes properly and also at the same time we provide suggestions in order to plan your finances in the best possible way.

We understand each client's situation and apply knowledge within the guidelines of IRS and plan the best business and personal decisions. Our experts can efficiently prepare your tax return for filing your taxes correctly and on time as per IRS Regulations.

FBAR & FATCA PROCESSING

TThe Foreign Bank Account Report, or FBAR, is a filing requirement for Americans must fill out if they have more than $10,000 in bank accounts outside of the United States at any time during the year. Although it has existed since 1970, but its enforcement has intensified over recent years as these days the US has increased its focus towards retrieving taxes from US citizens’ money and their investments in abroad.

The FBAR (form 114) FinCEN Form 114 must be filed online while keeping the following information relating to the declared accounts.

The account numbers

• The name on each account.

• The types of account.

• The name and address of the foreign institution(/s) where the accounts are held.

• The maximum value of each account during the relevant tax year.

Amendment to the return is required if there are any changes / corrections are needed after the return has been filed. 1040 Planners LLC assist in filing the amended tax return as per IRS guidelines using Form1040X.

An amended tax return is filed as per any of the situations as mentioned below:

Correcting under/over reported income
Correction in filing status
Adding Dependant(s) whom you missed to claim
Claiming of eligible & Tax deductible expenses

We provide the easiest way to file the Indian Tax returns. We have collaboration with reputed CA firms where we get answers to all the queries from clients. Clients just have to provide Form 16 and answers to basic questions and the return will be filed. We look after the corporate returns too in India. Our Indian Tax service includes:

Consultation of tax queries
Filing Indian Tax return for Individual and Corporate
Filing TDS returns
Filing GST Return
Audit Support

Payroll Services Payroll is one other complex compliance for employers. At 1040 Planners LLC, we have a team of experts who deal with regular as well as contract employees’ wages. Our payroll service will relieve you from all obstacles to run it; your only work will be to maintain timesheet, we will assure compliance by running payroll, direct deposit option of wages and taxes, filing of payroll returns, W2, 1099Misc and all other related services.