Plano, TX -- (SBWIRE) -- 03/23/2011 -- GVA Business Solutions - MyTaxFiler today said that its India tax filing 2010 was a big hit, targets were achieved beyond expectation. Thousands of clients experienced MyTaxFiler's error free delivery of work, and smooth tax filing process with the Indian IT department. We also filed a good number of Business returns this year, and our affiliation with Shell as NSDL approved PAN provider proved a great advantage to our clients based outside of India said Sabita Pai, Head Operations for GVA India. GVA India offers Business Formations, BookKeeping, Payroll Processing, Labor law compliance, Shops & Establishment law compliance, PAN card processing, E-Tds return filing, US Visa Tax, Income tax filing for business and individuals, access to Chartered Accountants for repatriation certification requirements as required by RBI & FEMA regulations, Transfer pricing documentation between holding and subsidiary structures and other related services.
- Global Value Add - MyTaxFiler releases Group & Corporate programs for US and India Business Tax Return Preparation. Our world class team, matured service delivery, knowledge domain in Tax services, tax representation 365 days a year, multiple locations worldwide have all made it possible to offer of a process that allows scale, error free experience, and 100% customer delight all in exchange for a very reasonable cost. We aim to make this even better and better in the years to come. We aspire to become the number one market place for value based tax services to our clients worldwide. We have just started our journey; there is still a long way to go, said Sudhir Pai, President & CEO.
MyTaxFiler consultants, with years of experience ensure a hassle free tax return preparation for your business by collecting a list of documents for further proceeding as a proof for previous records. Some of the major documents required by our experienced consultants are previous year’s business tax return, Articles of incorporation, Partnership agreement, Accounting records, Bank statements, Credit card statements, Payroll reports, Detail of asset purchases, Depreciation schedules, Detail of asset dispositions, Vehicle information etc.
Mytaxfiler has significant experience working with technology and non-technology related companies. The business plans developed MyTaxFiler to date have raised millions of dollars in capital. We also store the financial records under book keeping in the account of our clients for easy business tax return preparation in the coming tax seasons making the whole process hassle free.
The Self Employment tax return process significantly differs with type of self employment such as sole proprietor, an independent contractor, member of partnership, or otherwise in business for yourself. Self-employed people are required by HMRC to file an annual self-assessed tax return.
Filing a self employment tax return can be complicated and costly when done by employing the traditional accountancy model. Of those, who try to file the return themselves, many make the same simple mistakes on their tax return each year leading to wastage of time and income.
The Common areas of confusion in preparing the Self Employment tax return include:
The commencement rules in case of a newly formed business;
The termination rules after trade ends;
Revenue versus Capital expense;
Claiming capital allowances and determining what capital expenditure qualifies for the special reliefs like the Annual Investment Allowance;
The rules which govern the losses;
Using the loss rules in a tax-efficient manner;
IR35 if it is applicable pertains;
Self-employment versus employment
Most of the times, to complete a tax return, it is recommended to seek professional guidance from a experienced Chartered Accountant or tax filing expert to clear a self employment tax return.
To help make life easy for self-employed workers, MyTaxFiler.com provides professional, specialized Self employed tax return services for all self-employed citizens including consultants, architects, engineers, commercial drivers, realtors, mechanics, in-field sales professionals and care workers across U.S, U.K, Canada and India.
To be most effective the self employed accounts should be in a format that can eventually be used by the accounts program to produce the financial information required to complete the tax returns.
Self employed businesses are required to keep records of financial transactions without the necessity for formal accounting but must keep sufficient financial records to support the financial entries submitted in the tax return. In case of normal process the formal financial accounts may not be essential requirement for an organized system in record keeping using bookkeeping but accounting software is highly desirable to maintain financial control.
About mytaxfiler.com
Global Value Add, Inc. (GVA) was founded by professionals and alumni from Infosys, Jackson Hewitt, KPMG, and other reputable consulting companies with a combined industry experience of greater than 50 years in finance, book keeping, taxation and business consulting
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E-mail: tax@mytaxfiler.com.
Call: (972)-961-4814 or 210-248-3397 .
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