An income tax is a tax levied on the income of individuals or businesses (corporations or other legal entities). Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate tax, corporate income tax, or profit tax.

Individual income taxes often tax the total income of the individual (with some deductions permitted), while corporate income taxes often tax net income (the difference between gross receipts, expenses, and additional write-offs). Various systems define income differently, and often allow notional reductions of income (such as a reduction based on number of children supported).

Principles

The “tax net” refers to the types of payment that are taxed, which included personal earnings (wages), capital gains, and business income. The rates for different types of income may vary and some may not be taxed at all. Capital gains may be taxed when realized (e.g. when shares are sold) or when incurred (e.g. when shares appreciate in value). Business income may only be taxed if it is significant or based on the manner in which it is paid. Some types of income, such as interest on bank savings, may be considered as personal earnings (similar to wages) or as a realized property gain (similar to selling shares). In some tax systems, personal earnings may be strictly defined where labor, skill, or investment is required (e.g. wages); in others, they may be defined broadly to include windfalls (e.g. gambling wins).

All documents that are translatable from the English language to the Portuguese or from the Portuguese language to the English are handled by our Agents, certified translator, who is also a notary public. This way we can provide notarized documents for all legal processes.
It’s important to remember that our translator is recognized by the Brazilian Embassy in Boston Massachusettes.

Simply bring in your original document and leave the rest up to us.
Among the translations we commonly provide are:

• Driver’s License
• Scholastic Record
• Birth Certificate
• Diplomas
• Marriage Certificate
• Divorce Decree
• Identification Card
• And various other documents according to your needs.

A power of attorney gives someone permission to act on your behalf in legal matters, like writing checks or signing official documents. A power of attorney (POA) can be general, giving your agent broad power, or special, giving them power only over specific situations. If you choose to make this a durable POA, your agent’s powers will remain in effect if you become incompetent or incapable of handling your affairs.

Notaries are appointed by a government authority, such as a court or lieutenant governor, or by a regulating body often known as a Society or Faculty of Notaries Public. For lawyer notaries, an appointment may be for life, while lay notaries are usually commissioned for a briefer term, with the possibility of renewal.

In the common law world, a Notary Public is a public officer constituted by law to serve the public in non-contentious matters usually concerned with estates, deeds, powers-of-attorney, and foreign and international business. A notary’s main functions are to administer oaths and affirmations, take affidavits and statutory declarations, witness and authenticate the execution of certain classes of documents, take acknowledgments of deeds and other conveyances, protest notes and bills of exchange, provide notice of foreign drafts, prepare marine or ship’s protests in cases of damage, provide exemplifications and notarial copies, and perform certain other official acts depending on the jurisdiction.[1] Any such act is known as a notarization. The term notary public only refers to common-law notaries and should not be confused with civil-law notaries.

Through our audit services area, we work with clients on multiple levels. These areas include:

• Audit: An intensive level of service that yields an opinion on all financial statements
• Reviews: The next level of service which provides limited assurance that no material modifications need to be made to financial statements
• Compilations: The lowest level of service that does not include an opinion or assurance of financial statements
• Agreed-Upon Procedures: This is provided when an audit, review or compilation is not necessary

Our audit professionals place a heavy emphasis on planning. To plan for and carry out our role as a trusted advisor to the management team, we invest significant time and resources to learn about our clients’ business. We help companies interpret the financial and operational information discovered during the audit process, which in turn, leads to informed business decision-making.

What is an ITIN?
An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. It is a nine-digit number that always begins with the number 9 and has a range of 70-88 in the fourth and fifth digit. Effective April 12, 2011, the range was extended to include 90-92 and 94-99 in the fourth and fifth digit, example 9XX-90-XXXX.

IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA).

ITINs are issued regardless of immigration status because both resident and nonresident aliens may have a U.S. filing or reporting requirement under the Internal Revenue Code.
Individuals must have a filing requirement and file a valid federal income tax return to receive an ITIN, unless they meet an exception.

From start-ups to established enterprises, businesses rely on accurate and insightful financial information in order to maintain profitability and capitalize on new opportunities. Our accounting services steer you closer to these goals with accurate record-keeping and reporting as well as support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit and profit-sharing plans.

These services include but are not limited to:

• General ledger and financial statement preparation
• Bookkeeping (Monthly, quarterly, or annual)
• Accounting system setup and support (Quickbooks)
• Payroll processing
• Cash flow budgeting and forecasting
• Personal financial statements
• Employee benefit and profit-sharing plans
• Corporate tax planning and return preparation

We can produce financial reports based on your business operations that will provide a financial overview of your business needs. These reports are important tools that can guide your business in making financial decisions, planning, and evaluating performance.

The primary mission of the payroll department is to ensure that all employees are paid accurately and timely with the correct withholdings and deductions, and to ensure the withholdings and deductions are remitted in a timely manner. This includes salary payments, tax withholdings, and deductions from a paycheck.