US TAX SUPPORT
At Bambridge Accountants, we are passionate about savings you money. Below is on-the-go US tax support we have prepared to help you understand US tax.
Below is a summary of the major tax incentives that Congress has put in place to encourage certain behaviours by US corporations.
US corporations and individuals are allowed a multitude of different deductions for cash outlays they make throughout the tax year. However, for technology companies and individuals with tech-based hobbies, it can be confusing as to what expenses can be deducted. Below is a brief summary of what can and cannot be deducted for US tech companies and tech-interested individuals.
As a company owner it is common to employ family members, such as a spouse. The employment tax requirements family members can vary to those that apply to general employees.
As a US expat, charitable contributions can be made to reduce your tax liability. American expats living abroad can make a charitable donation to a wide range of US and foreign charities. However, it is essential to follow several IRS rules to make sure that charity donations are tax deductible.
Actors, directors and performers are unique when it comes to the world of taxes. We specialize in the acting profession, providing advice on the special tax rules that apply to individual actors, groups of performers and companies.
The type of business you operate determines what taxes you must pay and how you pay them. Below are five general types of business taxes:
Who must pay estimated tax?
- Excise Tax
On the 25th January, the IRS released an advanced version of Rev. Proc. 2018-13, setting forth the unpaid loss discount factors and salvage discount factors for the 2017 accident year.
The discount factors provided are to be applied to calculate discounted paid losses under section 846 and the discounted estimated salvage recoverable under section 832
If you own a UK limited company and move to the US as a corporation, you may seem inundated by all the complex tax laws to follow and forms to fill out. Here is a brief guide that should help clarify the purpose of these forms and how to properly complete them.
The US is one of the last developed nations that does not have a national maternity pay program. If you are self-employed, the government will not subsidize taking time off from your business. In order to effectively prepare for pregnancy and childcare without letting your business suffer, consider some of the following:
Bambridge Accountants are proud to share our most recent article as published in Crain New York. The Article goes into details over the benefits to film tax credits across the state.
The recent plan to turbocharge Missouri’s economy is not only set to reduce the top personal income tax rate and offer a special non-refundable credit to certain low income earners, but also the tax plan would cut the corporate income tax rate from 6.25% to 4.35%. This change would mean that Missouri has the second-lowest corporate income tax rate in the county among states that impose corporate income tax.
TAX for US citizens working in uk on tier 2 visa
If you work in the UK in a skilled profession (i.e. investment banking) and are in the country under a Tier 2 Visa, you still must pay taxes just like any other UK citizen.
With the huge changes to US Tax in 2017, it is no surprise that there are going to be a few changes on the upcoming US 2017 tax returns.
Your federal form 1040 (or requested extension) will be due by April 17th, 2018. Military personnel serving in a designated combat zone or contingency operation may be able to file later.
If your small business is moving to the UK or you are a US citizen looking to set up a new company, there are several tax implications that you should consider. Specifically, creative industry businesses have a favourable tax treatment in the UK, with advantages that most US citizens are probably unfamiliar with.
Once you become a client of Bambridge Accountants, the first thing that we will look at is ensuring that you are claiming absolutely every expense you are eligible to as an dancers.
DANCERS HAVE A NUMBER OF TAX DEDUCTIONS THAT ARE UNIQUE TO ANY OTHER INDUSTRY.
Entrepreneurs will often reach a point in their business venture where they want to do a spin off of their present business, or even a completely different venture.
As a seller on Amazon, Ebay or any ecommerce platform there are a number of tax obligations, reliefs and exemptions it is important to be aware of in order to avoid penalties and paying unnecessary tax.
The Dow index broke through the 25,000 barrier at the beginning of 2018 and has since continued to rise past 26,000. With the year anniversary of Tump’s inauguration tomorrow, Dow has risen more than 33% since Trump took office.
"I'm an American living in London and I am shortly going to launch my own part-time coaching business here, probably in April after I receive indefinite leave to remain. I'm looking for help understanding the tax implications in the US as well as the UK if I set up as an LLC or as a sole trader, and once that decision is made, ongoing support with filing tax returns in both places. Is this something you can help me with?"
I am looking for a US/UK tax advisor to file my husband and I’s personal income tax accounts for 2017.
A little background information - and some questions!
We are both UK citizens. I am employed (to April 2018) and PAYE. My husband is self-employed and has already filed his UK tax return for 2016-2017. We were approved to immigrate to the USA under EB1A in December 2017, and entered the USA to complete processing (and to house hunt) on 20 December 2017. We stayed for two weeks, returning to the UK (via Mexico) on 10 January 2018.
We plan to immigrate permanently (to California) on 3 May 2018.
Q: Do I have to pay tax on capital gains from UK investments?
A: Yes, all UK investments are subject to UK capital gains tax. The tax rate is 20% (or 28% for residential property) if you are a higher rate taxpayer, and 10% (or 18% for residential property) if you are a basic rate taxpayer.
The topic of U.S. tax reform enjoyed a lot of attention in recent months. After both the Senate and the House passed a tax bill (although each passed a different version), it is time to look at how this bill could possibly change your tax situation.