Listen to this article“It remains true that there are only two certain
ties in this material world – death and taxes.”
American tax services are meant to assist businesses in handling tax preparation, planning, reporting, compliance, and more.
US tax regulations are a complicated landscape and require vast knowledge, expertise, strategy, and foresight. The degree of complexity can be judged by the fact that there are varying tax rates and regulations for different states and local territories.
On top of that, these regulations across the nation (federal regulations), states, and localities change occasionally or are revised.
So, how do the businesses plan their taxes, prepare and file the same, and ensure compliance? Hiring one or a few in-house accountants is usually insufficient, as business taxes need expertise spanning different states and industries.
Moreover, hiring many expert accountants and tax advisors can be quite costly, especially for small and mid-sized businesses. This is why American tax services are the most popular business tax planning and preparation option.
Who Needs Tax Preparation Services in the US?
An American individual or business identity located, based, or operating in the nation, which includes mainland and US territories, is liable to pay the taxes.
However, there are criteria to determine who should pay the taxes and the exact amount. Almost everyone needs to prepare tax returns and file with the Internal Revenue Service.
Key Highlights
Here are some key points about taxes in the US.
- A US citizen or permanent resident who earns more than the threshold amount is liable to pay taxes.
- Self-employed individuals such as freelancers, business owners, and corporations must file tax returns.
- The employee’s taxes are withheld from their paychecks by the employer and submitted to the government.
- In case the company doesn’t hold its taxes from the paychecks, the employee has to file the income and other taxes themselves, similar to self-employed individuals.
- Taxes are filed as tax returns to the Internal Revenue Service and include all the types of taxes applicable.
Special Light on Small Businesses
99.9 percent of the businesses existing in the USA fall under the category of small businesses. It is not viable for most of the small businesses to hire an accountant throughout the year.
Moreover, many business owners and self-employed individuals do not like to carry out tedious bookkeeping and accounting tasks themselves. That’s a wise move, though, as the business owners should focus on the core business operations.
Here’s What’s Not Wise
Most small businesses don’t keep track of their taxes and accounts throughout the year. Therefore, when it’s tax season, they rush to their accountants or business tax services. However, this is not advisable, as not keeping track of the accounts and books can give way to errors and inaccurate tax filing.
Moreover, you must delegate your tax operations to an expert who can help you benefit from tax benefits programs like tax deductions and tax credits. The end goal should be minimizing tax costs and bills and ensuring compliance with federal, state, and local regulations.
Hiring a high-quality third-party tax provider or accountant for tax preparation is quite expensive. Therefore, small businesses choose to trade off quality with affordability and go for low-end tax preparation services. They thus fail to take advantage of tax benefits, conduct tax research, enhance productivity, and file accurate tax returns.
American Tax Services Emerge as the Solution to This Crisis
This trend is, however, changing as small and mid-sized businesses are outsourcing to American tax services. Therefore, small businesses no longer need to hire an accountant or tax advisor or neither bear the expensive costs of delegating to them.
Outsourcing to American tax services provides rich quality tax preparation and comes with added benefits. Additionally, affordable rates of outsourced services are the icing on the cake.
Let us look at what the American Tax Services are and the benefits they offer to businesses and self-employed individuals.
What are American Tax Services?
American tax services allow businesses to outsource their tax operations to them and be free from any tax obligations. They take care of various aspects of business taxation and individual tax planning, such as:
- Strategic tax planning
- In-depth tax research
- Tax preparation
- Accurate tax filing
- Reducing tax cost
- Legal compliance
- Tax debt resolution
How Do American Tax Services Assist Businesses and Individuals?
American tax services provide customized services to different sects of industry such as individuals, small businesses, mid-sized businesses, large enterprises, and freelancers. Tax planning and preparation is something everyone needs to reduce their tax bills and benefit from different programs such as deductions and credits. Let us take a look at how outsourced tax services help people in different tax brackets.
1. Individuals (General) or Households
Most of the working individuals pay income and property taxes, among other kinds of taxes. Tax services help individuals plan and prepare their taxes wisely and save significantly. Moreover, high-earning individuals often seek tax planning services to avoid paying hefty bills and take a strategic approach to taxes in the long run.
2. Freelancers or Self-Employed Individuals
Freelancers and self-employed individuals must pay different kinds of taxes, such as income and self-employment taxes. However, hiring a tax accountant is quite expensive for freelancers or self-employed individuals.
Tax services save freelancers and self-employed individuals from hefty charges that come from working with third-party tax providers. Moreover, these outsourced tax services also help the taxpayers benefit from tax deductions and tax credits and help them reduce overall tax costs.
3. Small or Mid-Sized Businesses
Tax preparation, planning, and research are essential things for small and mid-sized businesses. Yet, most lack expert tax accountants, as hiring them significantly adds to the business expenses. For businesses spending generously on tax accountants, cutting that cost by outsourcing tax operations is advisable.
Outsourced tax services cater to all tax requirements of a business and cost way less. In the next section, we will explore the benefits of outsourcing American tax services in detail.
4. Large Enterprises
Although large enterprises might have a dedicated department for tax accounting and preparation, there’s a catch – it’s expensive, less efficient, and less productive. Here’s why –
- First, hiring and maintaining employees costs quite much, adding their salaries, reimbursements, benefits, and infrastructure costs.
- Management cannot closely supervise the operations of the financial and accounting team, and therefore, hiring a controller is another added expense.
- Moreover, the in-house accountants work with reduced productivity and don’t have access to advanced financial tools to increase productivity and efficiency.
- The in-house team usually doesn’t have the expertise on business taxes that the tax service provider does. This limits their ability to address complicated situations and conduct high-quality tax research.
- Therefore, in a summarized statement – large enterprises might be paying too much for substandard quality tax operations. Moreover, they are missing out on the opportunities of reducing total expenses with the help of proper tax research.
Therefore, in a summarized statement – large enterprises might be paying too much for substandard quality tax operations. Moreover, they are missing out on the opportunities of reducing total expenses with the help of proper tax research.
This is why everyone needs tax services, including individuals and small and large businesses.
Benefits of Our Outsourced American Tax Services
Our American tax services are a complete package, a one-stop solution kind of thing for anyone. Not only do these services assist businesses and individuals in preparing taxes, they also come with added benefits. Take a look at the top advantages of our American tax services.
1. Reduced Tax Costs
Tax operations are quite expensive when delegated to a tax accountant or when businesses employ tax accountants for the same. However, outsourcing tax operations significantly reduces this cost. Thus, all businesses and self-employed individuals can conduct tax operations at an affordable price.
2. High-Quality Tax Research
Preparing taxes with the help of accountants might get the work done, but quality is the key. Our American tax services elevate the tax quality without adding additional costs. Therefore, the organization can conduct rich-quality tax research. This helps the businesses to find the areas of improvement and helps significantly in the financial operations.
3. Save on Expenses
Tax operations might seem to add cost initially, and no business or individuals can escape from it. However, you can leverage robust tax research to reduce overall business expenses.
4. Expert Tax Planning
Tax planning is as vital for individuals as it is for businesses. Without planning, you’ll be giving too much money away on taxes and added costs, such as penalties and charges that can be taken care of. Moreover, you’ll be missing out on tax benefits such as tax deductions, tax credits, and tax breaks for minority-owned businesses, to name a few.
Our outsourced tax services help businesses and individuals plan their taxes wisely.
5. Effortless Tax Preparation
There’s no denying that tax preparation is the most tedious task in the months of tax season. However, our American accounting and tax services take the burden of tax preparation off your shoulders. You can continue to focus on your core business activities in tax months as well, and your taxes will be prepared and filed timely, well within the deadline.
6. Round the Clock Support
A perk of our American tax services is round-the-clock instant support. Therefore, you don’t have to wait for any resolution, query, or update. You can connect with us anytime, and we’ll help you carry on your financial operations without delay.
Get in Touch with Us
To take a free trial of our American Tax Services, contact our advisor at +1(800) 580-5375. They will understand your business requirements and suggest plans most suited to your business.