Manage your day to day business transactions and compliances with our quickbooks accounting services
Reconciling general ledgers, financial statements and banking to avoid future IRS issues right at the beginning
In-depth and accurate financial reportings alongwith disclosures to reflect financial statements on cash/accrual basis
We are accounting experts providing industry specific accounting services nationwide in the United States to all kinds of businesses having simple to complex business structures and transactions internationally.
For maintaining your maintaining your accounting records as per US GAAP, we keep ourselved updated with the latest developments on US GAAP and deliver quality accounting services to US as well as Foreign entities.
Form 1040, Form 1040NR, H1B employees, Expat tax returns, Schedule C, Form 2553, Capital Gains, Fbars FINCEN 114, Form 8938, State tax returns across the United States, International tax reportings and much more.
Form 1120, Form 1120F, International transactions with foreign owners Form 5472, Form 5471, State tax returns across the United States, International tax reportings and much more.
S Corp tax retruns Form 1120S including K1, Partnership tax returns Form 1065 including K1, Foreign owners compliances Form 8804, Form 8805, tax withholding compliances, State tax returns across the United States and much more.
Preparing forms 990N, 990EZ & 990 full tax returns for all kinds of 501(c)(3) organizations, churches and also assisting in tax exemption status with the IRS.
Preparing all payroll tax forms with the IRS such as Form 940, 941, 941X, 943, 943X, 944, 941PR, state quarterly wage reports and withholding tax returns across the United States and much more.
Preparing sales use tax returns across the United States and assisting in obtaining nationwide sales tax registrations, reseller and exemption certificates for e-commerce sellers like Amazon, Ebay, or any other e-commerce operator.
We assist with Offer in Compromise submission with the IRS and filing out the OIC forms along with relevant documentation as evidence to prove assets, income, and personal expenditure necessary to have a successful OIC.
If you are unable to pay your tax bill due to financial issues, we can assist in obtaining installment agreement with the IRS so that you are fully complied with the tax laws even in the m,ost difficult times of your finanical distress.
If you filed your tax returns late, you might be eligible for penalty abatements, which can provide you instant relief in less than 24 hours once we receive your documents for processing to obtain penalty abatements.
We provide quickbooks accounting services with in-depth transaction categorizations and detailed financial reportings
We assist accounting setup for the new businesses or the businesses looking to switch over to new accounting softwares
Managing your receivables and payables efficiently to have accurate cash flows reportings for better decision making
We assist online sellers with industry specific accounting that is required for accurate reporting with the tax authorities
Reconcile your banking transactions with financial statements and general ledgers to avoid future tax issues
Get expert advisory on transactional adjustements to reflect year end financials on cash basis or accrual basis
Employee retention tax credit abbreviated as “ERC” is a retroactive refundable tax credit provided by the CARES Act in 2020 for supporting businesses to retain employees in 2020 & 2021.
Employers who were impacted as follows are eligible for ERTC:
1. full or partial suspension orders by the Government, or
2. Had significant decline in sales, or
3. Started business operations after 02/15/2020, or
4. Severely financially distressed employer
Employee retention tax credit (ERC) are not taxable but the employers are required to reduce wages declared on income tax returns for respective years for which Employee retention tax credit have been approved by the IRS. You will have to file an amended income tax return in most cases.
Employee retention tax credit (ERC) can be claimed until Q3 2021 for businesses other than recovery startups & severely financially distressed employer. If your business qualifies as recovery startups or severely financially distressed employer , then you can be eligible for Q3 2021 & Q4 2021 Employee retention tax credit (ERC).
The lawmakers passed Infrastructure Act (Bipartisan Law) to restrict the businesses from claiming Employee retention tax credit (ERC) beyond Q4 2021. There are no signs for ERC to be extended for 2022 despite businesses are still struggling to get back with normal operations.
Yes, Non profit organizations are equally eligible as other for profit businesses to claim Employee retention tax credit (ERC).
Yes, even if you incorporated or started your business operations in 2020, you are still eligible for Employee retention tax credit (ERC) under normal eligibility route or recovery startup business.
Yes, employers who have availed PPP loan forgiveness are still eligible for Employee retention tax credit (ERC). However, no double dipping of payroll costs as declared on PPP loan forgiveness applications.
As per Constructive ownership rules, owners having more than 50% interest in the business are not eligible for Employee retention tax credit (ERC). However, other non related employees can still be eligible for Employee retention tax credit (ERC)
At IncenCred, we unravel tax complexities with unmatched expertise. From challenging IRS disputes to international tax intricacies and comprehensive accounting, our proven track record establishes us as leaders in tax consulting. We’re your partners in clarity, strategy, and success.