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Showing posts with the label foreign account

Bookkeeping Service: Report of Foreign Bank and Financial Accounts (FBAR)

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The U.S. government requires individuals to report foreign financial accounts because foreign financial institutions may not be subject to the same reporting requirements as domestic ones. Who needs to report: Ia person with financial interest, or monetary gain, in, signature authority or other authority over one or more accounts in a foreign country, and a person with the sum of all foreign financial accounts exceeds $10,000 at any time during the calendar year. A U.S. person is a citizen or resident of the United States. Account owners need to report accounts by the April 15 due date following the calendar year that they own a foreign financial account. Contact Taxeasy for Details now!

Report of Foreign Bank and Foreign Accounts to FinCen

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 The law requires owners of foreign financial accounts to report their accounts to the U.S Treasury Department, even if the accounts don’t generate any taxable income. Account owners need to report accounts by the April 15 due date following the calendar year that they own a foreign financial account. The U.S. government requires individuals to report foreign financial accounts because foreign financial institutions may not be subject to the same reporting requirements as domestic ones. Who needs to report:   a person with financial interest, or monetary gain, in, signature authority or other authority over one or more accounts in a foreign country, and   a person with the sum of all foreign financial accounts exceeds $10,000 at any time during the calendar year. A U.S. person is a citizen or resident of the United States. Report each foreign financial account you own or on which you have signature authority using FinCEN Form 114. The Foreign Bank Accou...

Tax Preparation Online Service

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 In some excellent news for millions of online sellers, the Internal Revenue Service (IRS) announced another delay of the $600 reporting threshold for Form 1099-K. Most home buyers take out a mortgage loan to buy their home and then make monthly payments to the mortgage holder. This payment may include several costs of owning a home. The costs the homeowner can deduct are:     state and local real estate taxes, subject to the $10,000 limit.     home mortgage interest, within the allowed limits: For qualifying debt taken out after December 15, 2017, you can only deduct home mortgage interest on up to $750,000 ($375,000 if you are married filing separately) of that debt. Homeowners can't deduct any of the following items:     Insurance including fire and comprehensive coverage and title insurance     The amount applied to reduce the principal of the mortgage     Wages paid to domestic help ...

Online Tax Preparation Service

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 Help an Owner of Sole Proprietorship with Business income and Expenses: Complete Schedule C. Sole Proprietor will use Schedule C with personal tax return and will enter info from the Schedule C into Free Tax Software approved by IRS .Special discount for W2 customers-20%. We give an addition 50% discount to individuals 56 years or older for Report of Foreign Bank and Financial Accounts to FinCEN.  California individuals and businesses impacted by the 2022-23 winter storms qualify for an extension until Oct. 16, 2023, to file and pay taxes. Sign with us online and we will provide an instruction how to help you with tax services online

Income tax online

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  online tax Service: Get customized free forms (such as self employed, premium tax credit) when you prepare your Personal taxes with us for a fee of $89.99. Get all the customized free forms you need (1040 form, CA 540 form) when you sign up to prepare your Sole Proprietorship taxes online with us for $189.99. Special discount for W2-20%. We give an addition 50% discount to individuals 56 years or older for Report of Foreign Bank and Financial Accounts to FinCEN.   We offer Tax preparations as online service, do not involve your physical interaction with anyone other than you , and our tax preparers do the work online after you upload the tax documents to us, so risk of spread coronavirus is minimal to none.  Phone 1 310-207-6230