FEDERAL & STATE FORMS FILING:

Our tax professionals will do everything from entering the data on all the numerous IRS forms after vigilant analysis with the information and documents provided to us by the clients. The following are the different form that are usually filed with IRS and also depicts the planning; preparation and filing process at Endow Tax.

Tax Return Forms – Federal:

• Resident Tax Returns – 1040
• Non-Resident Tax Returns – 1040NR
• Amended Tax Return – 1040X

Tax Return Preparation – State, City & Local

ITIN PREPARATION:

The ITIN number is issued by the IRS to certain resident and nonresident individuals, who are required to have identification number for tax purposes, but don’t have or are not eligible for a Social Security Number. And lucky for you, this is one of our many specializations.

Process:

• You should complete ITIN application form as soon as you are ready to file your federal income tax return, since you need to attach the return to your application.
• If you meet one of the exceptions to the tax filing requirement, make sure your submit ITIN application form along with other documents that prove your identity and foreign status and substantiate your qualification for the exception.
• You can apply for an ITIN any time during the year. However, if the tax return you attach to ITIN application form is filed after the due date of the return, you may be penalized. So, make sure you file your current year’s return within the prescribed due date.

FBAR COMPLIANCE:

A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report:

A financial interest in or signature or other authority over at least one financial account located outside the United States if the aggregate value of those foreign financial accounts exceeded $10,000 at any time during the calendar year reported.

Generally, an account at a financial institution located outside the United States is a foreign financial account. Whether the account produced taxable income has no effect on whether the account is a “foreign financial account” for FBAR purposes.

Reportable financial accounts on FBAR:

• Bank accounts (Saving, Current, Fixed Deposit, etc.)
• Securities or brokerage account
• Account with a person that acts as a broker or dealer for futures or options transactions
• Account with a person in the business of accepting deposits as a financial agency
• Insurance or annuity policy with cash value (LIC, ULIP)
• Public provident fund or PF
• Shares in a mutual fund or similar pooled fund
• Gold kept in bank lockers

TAX REPRESENTATION:

Representation is a very powerful tool you can use to "even the odds" when you must deal with the IRS. Most individuals do not have the experience in dealing with the IRS in negotiations, and understand the value of being represented by someone with the proper knowledge and experience. The result of being represented by an experienced Negotiator is generally a better financial deal for 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 will assure you that you will be represented in a professional way.

STRATEGIC TAX ADVISORY AND PLANNING SERVICES:

Our team of experts is always there to understand your specific requirements and analyze your situation. This is what helps us come up with the most strategic tax planning recommendations for you.

Our tax planning services covers the following areas:

• A study of itemized vs. standard deduction
• Tax planning for expats (Work Visa holders) in the US
• Tax Planning for student & professional Visas
• Non-Resident and offshore tax planning
• Stock options (ESOP) or stock purchase plans (ESPP)
• Investments into retirement plans 401K, 412i tax planning services
• Gifting strategies
• Creation of 501(1)(c) corporations and Private Operating Foundations
• Strategic global incorporations, transfer pricing arrangements and advance pricing agreements
• Representation before the IRS

AMENDMENT FILING:

An amended tax return generally allows you to file your tax return again to correct your filing status, add or correct your income, claim or allow deductions or credits which you have missed out in previous tax filing, At Endow tax we will help you to file your Amendment Tax Return in any of the following reasons.

• Claiming additional Dependents
• Removing Dependents you previously claimed by mistake
• Reporting your proper filing status
• Reporting additional income
• Making changes in your ‘Above the line Deductions’,’ Standard Deduction’ or’ Itemized Deductions’
• Changing your personal exemptions
• Claiming additional Tax Credits, removing Tax Credits mistakenly taken, or recalculating the amount of the Credits and Reporting additional withholding etc.

BOOK KEEPING:

At Endow tax bookkeeping services are a unique combination of quality and accuracy. Our team of well-trained bookkeeping professionals are quick to adapt to the specific needs of our customers, all the while maintaining quick turnaround time and quality standards. With our extensive knowledge and experience in bookkeeping, we take care of all your bookkeeping needs with the greatest care and efficacy.

Our bookkeeping Services include:

• QuickBooks Setup
• QuickBooks Training
• Accounts Receivables
• Accounts Payable
• Bank/Credit Card/Asset Reconciliation
• Financial Statement Preparation
• Management Reports