Navigating the complex landscape of US taxes requires a strategic and knowledgeable approach, and at ASAN, we specialize in providing comprehensive tax services suited to meet your distinct needs. From individual tax planning to corporate tax optimization, our expert team is well-versed in both federal and state tax regulations.
We go beyond compliance and proactively seek opportunities to optimize your tax position. Our commitment to staying abreast of regulatory changes and industry trends allows us to provide you with cutting-edge solutions.
- Personal Tax Services
- Corporate Tax Services
Personal Tax Services
- Individual Tax Planning: We meticulously navigate the intricacies of US federal tax laws to optimize your individual tax position, ensuring you benefit from available deductions and credits.
- State Tax Compliance: Recognizing the nuances of state tax regulations, we provide personalized strategies for state tax compliance, addressing the unique requirements of each jurisdiction.
- Non-Resident Alien Services: Our team guides non-resident aliens through the complexities of US taxation, helping them fulfill their tax obligations and leverage applicable tax treaties.
- Expatriate Tax Planning: For individuals living and working abroad, we offer strategic tax planning to maximize benefits related to foreign income exclusions and tax credits.
- FBAR and FATCA Assistance: Ensuring compliance with FBAR and FATCA regulations, we assist clients with reporting foreign financial accounts and navigating the requirements of these key provisions.
- ITIN Processing: We streamline ITIN processing, guiding individuals through the application and renewal process. Whether you're a non-resident alien or require an ITIN for other reasons, our services ensure a smooth and compliant process.
- Extension Filing Assistance: Our expert assistance with filing extensions for tax returns provides businesses and individuals with additional time to prepare and submit their filings. We understand the nuances of extension filing, helping you meet deadlines while minimizing penalties.
FAQs
What types of personalized tax services do you offer for individuals in the US?
ASAN Group Inc. provides a comprehensive range of personalized tax services, including individual income tax preparation, tax planning, and guidance on various tax matters such as investments and retirement planning.
What is FBAR, and how can ASAN Group Inc. assist with FBAR compliance?
FBAR (Foreign Bank Account Report) is a reporting requirement for foreign financial accounts. We assist clients in complying with FBAR regulations, ensuring accurate reporting and adherence to deadlines.
How does ASAN Group Inc. support clients in FATCA compliance?
FATCA (Foreign Account Tax Compliance Act) compliance is crucial for certain taxpayers. Our team provides assistance and guidance to ensure clients comply with FATCA regulations related to foreign financial assets.
What is an ITIN, and who needs to apply for it?
An Individual Taxpayer Identification Number (ITIN) is issued by the IRS for individuals who are not eligible for a Social Security Number but have a filing requirement. Non-resident aliens, dependents, and certain visa holders often need an ITIN.
What documents are required for ITIN processing?
Required documents typically include a completed W-7 form, proof of identity, and supporting documents depending on the reason for ITIN application. Our team helps clients gather and submit the necessary paperwork.
What are the benefits of obtaining an ITIN?
An ITIN allows individuals to comply with tax filing requirements, claim certain tax credits, and fulfill other tax-related obligations in the absence of a Social Security Number.
How does filing a tax extension work, and when is the deadline?
Filing an extension involves submitting the appropriate form by the original tax deadline. For individual returns, the extension deadline is typically October 15. We ensure timely filing and compliance.
Can you assist with IRS matters, including audits and disputes?
Yes, our experienced team provides expert representation during IRS audits and disputes, ensuring your interests are protected and helping navigate the resolution process.
Corporate Tax Services
- Corporate Income Tax Management: Our expertise extends to the preparation and optimization of corporate income tax returns, aligning with federal regulations and state-specific requirements.
- Transfer Pricing Guidance: Businesses engaged in cross-border transactions benefit from our transfer pricing expertise, ensuring compliance with IRS regulations and optimizing tax implications.
- International Tax Advisory: We provide insightful advice on international tax matters, addressing complexities related to foreign tax credits, Subpart F income, and global tax planning.
- Employment Tax Compliance: Our services encompass comprehensive compliance support for employment taxes, including payroll taxes and Social Security obligations.
- State and Local Tax (SALT) Solutions: With a keen understanding of state and local tax intricacies, we offer tailored services to navigate the complexities of multi-jurisdictional operations.
- IRS Representation: In the event of audits or disputes, our seasoned professionals provide expert representation, ensuring your business's interests are protected throughout the process.
- Estate and Gift Tax Planning: For business owners and high-net-worth individuals, we offer strategic planning to minimize estate and gift tax implications, preserving your wealth for future generations.
FAQs
What international tax advisory services do you provide for businesses operating globally?
We offer comprehensive international tax advisory services, addressing matters such as foreign tax credits, Subpart F income, and global tax planning to optimize a business's international tax position.
What is a tax extension for businesses, and how does it work?
A tax extension provides businesses with additional time beyond the original deadline to prepare and submit their tax returns. Businesses must file the appropriate extension form, such as Form 7004 for corporations or Form 4868 for partnerships, by the original tax filing deadline.
Can ASAN Group Inc. help with filing extensions for tax returns for businesses?
Absolutely. We help with filing extensions for individuals or businesses, giving them additional time to prepare and submit their tax returns.
When is the deadline for requesting a tax extension for businesses?
The extension request must be submitted by the original tax filing deadline. For example, if the standard filing deadline is March 15, the extension must be filed by that date.Yes, our experts guide businesses in complying with Goods and Services Tax (GST) and Harmonized Sales Tax (HST) regulations. We ensure proper filing and help claim eligible input tax credits.
How long is the extension period for businesses?
The standard extension period for most businesses is six months. For instance, if the original tax filing deadline is March 15, the extended deadline would be September 15 for partnerships and October 15 for corporations.
Does filing a tax extension mean businesses have more time to pay taxes?
No, it only extends the filing deadline, not the payment deadline. Estimate and pay taxes owed at the time of filing the extension. We, at ASAN, assist businesses in accurately estimating and fulfilling their tax obligations during the extension period, ensuring compliance and avoiding penalties.
Are there any penalties for filing a tax return after the original deadline, even with an extension?
Yes, late filing penalties may apply. We emphasize timely filing to minimize penalties and works with clients to meet extended deadlines.
What sets ASAN Group Inc. apart in providing IRS representation for businesses?
ASAN Group Inc. excels in expert representation during IRS audits, appeals, and dispute resolution. Our experienced team ensures businesses navigate IRS matters effectively, protecting their interests throughout the process.