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U.S. TAX FILINGS

Don't worry about taxes, we'll do it for you!

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MAXIMUM WEALTH PRESERVATION

Preserve Your Hard-Earned Wealth!

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INTERNATIONAL TAX STRATEGY

U.S. Expat Tax Filings

Welcome to maxWEALTH Finance, Accounting & Tax Consultants - We Maximize Your Wealth!

maxWEALTH is committed to providing wealth, tax & accounting services for a wide range of clients including Individuals, Business Owners, H1B/L1 or Consultants working on Client Projects, Physicians, High Net Worth Individuals, Students working on OPT/CPT. Call or email us. Our professionals are ready to answer any question you may have. If you do not know who to revert to, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. . We will endeavor to respond to your enquiry within 1 business days of receipt.

WE WANT TO SERVE YOU!

 

maxWEALTH provides Tax & Wealth Advisory Services for a number of people including:

  • Individuals

  • Business Owners

  • US Expatriates Working Abroad

  • Doctors/Physicians

  • H1B/L1 Consultants working on Client Projects

  • Students working on OPT/CPT

We provide extreme data  security for all our client's tax returns and will ensure 100% customer satisfaction at an affordable price.

maxWEALTH CONSULTING SERVICES

 

maxWEALTH provides a comprehensive range of services tailored to your financial needs:

  • Personal & Business Taxes

  • Year Round Full Service

  • Prior Year Filings & Amendments

  • Super Fast Rapid Refunds

  • Direct  Deposits

  • Accounting Services 

  • IRS Audit Help

maxWEALTH can serve all your wealth planning needs.

Ten Facts about Capital Gains and Losses

March 6th 2014 : When you sell a ’capital asset,’ the sale usually results in a capital gain or loss. A ‘capital asset’ includes most property you own and use for personal or investment purposes. Here are few facts on capital gains and losses:

1. Capital assets include property such as your home or car. They also include investment property such as stocks and bonds.

2. A capital gain or loss is the difference between your basis and the amount you get when you sell an asset. Your basis is usually what you paid for the asset.

3. You must include all capital gains in your income. Beginning in 2013, you may be subject to the Net Investment Income Tax. The NIIT applies at a rate of 3.8% to certain net investment income of individuals, estates, and trusts that have income above statutory threshold amounts.

4. You can deduct capital losses on the sale of investment property. You can’t deduct losses on the sale of personal-use property.

5. Capital gains and losses are either long-term or short-term, depending on how long you held the property. If you held the property for more than one year, your gain or loss is long-term. If you held it one year or less, the gain or loss is short-term.

6. If your long-term gains are more than your long-term losses, the difference between the two is a net long-term capital gain. If your net long-term capital gain is more than your net short-term capital loss, you have a 'net capital gain.’ 

7. The tax rates that apply to net capital gains will usually depend on your income. For lower-income individuals, the rate may be zero percent on some or all of their net capital gains. In 2013, the maximum net capital gain tax rate increased from 15 to 20 percent. A 25 or 28 percent tax rate can also apply to special types of net capital gains.  

8. If your capital losses are more than your capital gains, you can deduct the difference as a loss on your tax return. This loss is limited to $3,000 per year, or $1,500 if you are married and file a separate return.

9. If your total net capital loss is more than the limit you can deduct, you can carry over the losses you are not able to deduct to next year’s tax return. You will treat those losses as if they happened that year.

10. You must file Form 8949, Sales and Other Dispositions of Capital Assets, with your federal tax return to report your gains and losses. You also need to file Schedule D, Capital Gains and Losses with your return.

Seven Facts about Dependents and Exemptions

Feb 27th 2014 : There are a few tax rules that affect everyone who files a federal income tax return. This includes the rules for dependents and exemptions. The IRS has seven facts on these rules to help you file your taxes.

1. Exemptions cut income.  There are two types of exemptions: personal exemptions and exemptions for dependents. You can usually deduct $3,900 for each exemption you claim on your 2013 tax return.

2. Personal exemptions.  You can usually claim an exemption for yourself. If you’re married and file a joint return you can also claim one for your spouse. If you file a separate return, you can claim an exemption for your spouse only if your spouse had no gross income, is not filing a return, and was not the dependent of another taxpayer.

3. Exemptions for dependents.  You can usually claim an exemption for each of your dependents. A dependent is either your child or a relative that meets certain tests. You can’t claim your spouse as a dependent. You must list the Social Security number of each dependent you claim. See IRS Publication 501, Exemptions, Standard Deduction, and Filing Information, for rules that apply to people who don’t have an SSN.

4. Some people don’t qualify.  You generally may not claim married persons as dependents if they file a joint return with their spouse. There are some exceptions to this rule.

5. Dependents may have to file.  People that you can claim as your dependent may have to file their own federal tax return. This depends on many things, including the amount of their income, their marital status and if they owe certain taxes.

6. No exemption on dependent’s return.  If you can claim a person as a dependent, that person can’t claim a personal exemption on his or her own tax return. This is true even if you don’t actually claim that person as a dependent on your tax return. The rule applies because you have to right to claim that person.

7. Exemption phase-out.  The $3,900 per exemption is subject to income limits. This rule may reduce or eliminate the amount depending on your income.