Individual Services

Tax Filing Services

Individual Tax Preparation and Filing
Financial and Tax Planning Services
Tax Representation
FBAR- Foreign Bank Account Reporting
Non-Resident Tax
Past Years Tax Return

Accounting & Book Keeping Services

Monetro is ideally positioned to drive real end-to-end business impact. Cost and transactional efficiency matter, but only as a means of achieving greater effectiveness in pursuing our clients’ strategic ends. We offer clients the ability to radically improve their decision making, both locally and globally. And we do this not just as it relates to improving F&A process streams but all those business process that flow through and interact with Finance & Accounting.

Our Finance and Accounting services include

Accounting & Bookkeeping
Accounts Payables
Order to Cash (OTC)
General Accounting
Closing & Reporting
Treasury & Tax Services
Financial planning & Analysis

Individual Tax Preparation and Filing

Each year we prepare many hundreds of US tax returns every year for US citizens and resident aliens, wherever they happen to be in the world. You don't need to be resident in the USA for us to get help. Monetro helps you to get all the deductions and credits you deserve. Keeping up with ever-changing tax deductions can be daunting. Worse, you may be overlooking some deserved tax deductions that could affect your refund. That’s why Monetro has compiled a list of commonly overlooked deductions for your reference. Our Team of tax specialists can guide you through the maze of US legislation governing expatriates such as the “sourcing” of income and deductions. we assist you with all areas of individual tax return completion and planning, whether you are living in or outside of the United States. Overall, we pride ourselves on our ability to make the complicated a little simpler, offering you some much needed, straightforward help. Our Strengths are our people Ability in Providing Simple Solutions to Complex Problems.

Amended Returns

Our Tax Professionals will help you fill out the Application for an IRS Individual Taxpayer Identification Number (Form W-7) and organize the supporting documentation and completed Federal tax return required to be submitted with Form W-7. This service is available only at participating locations

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Individual Tax Identification Number (ITIN)

Our Tax Professionals will help you fill out the Application for an IRS Individual Taxpayer Identification Number (Form W-7) and organize the supporting documentation and completed Federal tax return required to be submitted with Form W-7. This service is available only at participating locations.

Year Round Tax Support

Our team of Tax Professionals are available year-round to answer your questions, address your concerns, and provide assistance. Access to year-round tax advice is available whether you filed your tax return at one of our locations or another tax preparation firm.

Financial and Tax Planning Services

Multi State- Planning
Foreign Tax Credit
Social Security Planning
Assignment Management
Expatriate Planning

Most of us who live outside of the United States have to pay tax in the country in which we live. US citizens or green card holders have the same income subjected to US tax. In plain words, there is double tax. To prevent this happening, the US has double tax treaties with many countries and very often it is possible to claim a credit for the foreign tax paid (or accrued) on income to avoid double taxation. However, it is vital to structure the timing and payment of foreign taxes in order to obtain the maximum benefit from foreign tax credits. US Tax & Financial Services has years of knowledge and expertise in this area and provides proactive planning advice to ensure any excess foreign tax credits may be used effectively and efficiently. Social security can be an important issue in the overall cost of an assignment. It is possible to establish continuing coverage under the “home scheme” if certain requirements and obligations are met by the employer and individual concerned. This could drastically reduce the cost of an assignment, while preserving a certain level of security for the assignee. Compensation issues and ongoing tax compliance are not the only concerns when relocating to a foreign country.

Questions include the following:

Who will be the employer?
When is the best time to relocate?
Is there an ideal length of assignment?
What will be the overall tax and social security cost of the assignment?
What are the additional reporting requirements and payments required of the company and the employee in the assignment country?
Should the assignee remain on the US payroll?
When is it best to make certain payments of income - pre move or post move?
Should income be paid in the United States or the assignment country?

If you're a US citizen moving to or from the United States, or a foreign national, you have enough to deal with without the added complexity of dealing with a totally different tax regime. Actually it's best to consider such issues before relocating. This will enable you to know you are being looked after financially and also that your employer is sure of the overall cost of the assignment and aware of any added compliance issues - well in advance. We can assist with the composition and structure of remuneration packages, maximizing tax and social security costs efficiently both for the employer and the employee.

Tax Representation

Have you been contacted by the IRS or state government and don't know what to do? We can help! Over the years, we have been "tax trouble shooters" for countless clients leading them to reasonable resolutions regarding every tax issue, from every U.S. government agency. These days, both the IRS and State tax authorities are sending out more and more notices and reassessing tax and related interest and penalty charges. These can sometimes be straightforward to deal with. However, on occasions, it is not obvious where the additional tax has resulted from or why it is being assessed. We can advise you how to respond to an IRS notice by reviewing both your tax returns and the respective notice, before offering our suggested course of action. Audits can also be time consuming and costly in time, tax and fees. However, with our experience of IRS and various State audits, we can offer an efficient service in assisting and representing you in any given audit. We have extensive federal, state and local tax controversy experience, including audit, appeals and competent authority relief and litigation when an acceptable settlement at the administrative level cannot be reached. We have represented taxpayers and advisors across the range of IRS enforcement activities, including the tax shelter arena. We also have represented individuals and companies facing potential criminal tax issues, including internal investigations, sensitive audits, IRS and grand jury investigations, criminal trials and post-trial appeals. Our tax experts conduct a full-service federal, state and local tax practice, including all aspects of corporate, partnership and individual taxation.

FBAR- Foreign Bank Account Reporting

Each United States person (US Citizen or otherwise US resident), who has a financial interest, signature, or other authority over any financial accounts, including banks, securities, or other types of financial accounts in a foreign country ( e.g. Bank accounts, Investment accounts, Mutual funds, Retirement accounts ), and if the aggregate value of these financial accounts exceed $10,000 at any time during the calendar year, must report that relationship each year, by filing TD F 90-22.1 with Department of the treasury, on or before June 30 of the succeeding year. There is no extension of time available for filing this report.

Penalties:

Significant penalties may be imposed if you do file Form TDF-90.22.1

Non-Resident Tax

If you arrived in the U.S. or departed the U.S. this tax year, and earned money in the United States, you may be required to file the form 1040NR (U.S. Nonresident Alien Income Tax Return). You may also be required to file a state tax return for your U.S. source income. IRS Publication 519 explains the complex rules governing nonresident taxation. Your tax obligations will be different depending on your status, whether you are aResident Alien, Non-resident Alien or Dual Status Alien. Your tax obligations will even depend on the country your moved in or out, and even on your occupation. It really is a rather complicated process - but that is what we are here for. By asking the right questions, we determine your status and file the right tax return for you.

NOTE:

If you were a non-resident alien student, teacher, or trainee who was temporarily present in the United States on an "F,""J,""M," or "Q" visa, you are considered engaged in a trade or business in the United States. You must file Form1040NR (or Form 1040NR-EZ) only if you have income that is subject to tax, such as wages, tips, scholarship and fellowship grants, dividends, etc..

We appreciate that living abroad presents enough challenges. That's why we make the process of preparing and filing your US taxes simple and hassle-free.