Resource

US corporate retirement plan – 401(K)

2023-05-08

401(k) Plan is a retirement benefit plan provided by American companies for employees, which has the function of delaying tax payment. The similar plan for non-profit institutions is 403(b) Plan, and the similar plan for local governments for employees is 457 Plan, which can be understood as 401(k). The 401(k) plan specifically means that employees use a part of their pre-tax income to put into the 401(k) retirement account; on the other hand, employers can choose to invest in another item other than wages according to a certain percentage of the employee’s income. The funds go to the employee's

Social security pension

2023-05-08

Employees of American companies earning labor income means that they are required to pay social security taxes. If they do not pay, they will be fined. When they pay a certain amount, they can receive social security retirement benefits at the prescribed age. This retirement benefit/pension is issued by the government and is one of the Social Security Benefits (Social Security Benefits), administered by the Social Security Administration. The following prerequisites must be met: 1. The income before retirement is labor income. Not all income is recognized. It must be labor income. Whether it is working for others or

How to file 1099 form? New York personal tax declaration

2023-05-08

How to file 1099 form? New York personal tax declaration Any 1099 form corresponds to the personal SSN that received the income. When you receive 1099 Forms from banks/brokers/or other institutions, it means that the IRS has also received it simultaneously. So don't take chances and miss the 1099 form. Common 1099 forms: 1099-INT（Interest Income）：interest settlement 1099-K：Billing generated by using third-party payment software (such as Square, PayPal, Venmo) 1099-NEC (Non-Employee Compensation): Self Employed/Freelance Income 1099-MISC（Miscellaneous Income）：Settlement of rent, copyright, etc. 1099-DIV（Dividends and Distributions）: dividend income 1099-G: Unemployment benefits, state and local government tax refunds. 1099-R：Retirement account changes. Note: From

Know the tax rate

2023-05-09

2023 Federal Income Tax Brackets and Rates for Single, Married Couples Filing Jointly, and Heads of Households Tax Rate For Single Filers For Married Individuals Filing Joint Returns For Heads of Households 10% $0 to $11,000 $0 to $22,000 $0 to $15,700 12% $11,000 to $44,725 $22,000 to $89,450 $15,700 to $59,850 22% $44,725 to $95,375 $89,450 to $190,750 $59,850 to $95,350

Individual income tax inquiry

2023-05-09

For federal income tax refund information: 1. Check online for federal tax refund status 2. Additionally, you can call 800-829-1954 for more information. After connecting the call, you will be prompted to select a forwarding number. You will receive the same results as checking online if you choose the automatic inquiry option. Alternatively, you can choose to be connected to

Tax returns are approaching, and HHL warns: The IRS is stepping up its scrutiny of taxes. These are the easiest situations to target!

2023-05-09

According to current IRS rules: Personal tax filing deadline April 18, 2023 April 18, 2023 Filing time: It starts on January 23, 2023 If your tax documents are ready, you can contact us now so that you can get your tax refund sooner and sooner. If you have any questions, please contact HHL Advisors Group HHL lead The New Year’s

[Tax Guide for Overseas American Citizens and Alien Residents] Part 1: What is a foreign resident (green card or substantive residence test)? Do I have to file tax returns, when to file and pay taxes? ?

2023-05-09

According to current IRS regulations: Individual tax return deadline April 18, 2023 April 18, 2023 Tax filing start time: Starts January 23, 2023 If your tax declaration materials are complete, you can contact us now to get your tax refund faster and earlier. If you have any questions, please contact HHL Advisors Group HHL lead As mentioned in About Publication

Georgia, Alabama storm-damaged individuals, businesses: Eligible for tax relief; deadline extended to May 15

2023-05-09

According to current IRS regulations: Individual tax return deadline April 18, 2023 April 18, 2023 Tax filing start time: It is expected to start around the end of January 2023 If your tax declaration materials are complete, you can contact us in mid-January to get your tax refund faster and earlier. If you have any questions, please contact HHL Advisors

W-2 analysis

2023-05-09

What is Form W-2? W-2 is the annual salary summary form obtained from the employer at the beginning of each year, which summarizes your total salary and tax deductions for the previous year. The employer will give you this form no later than February. If you do not receive it, please contact the employer to ask for it. W-2