Tax Filing & Compliance
Q: What documents are needed to prepare an individual tax return?
A: Typically W-2, 1099, bank interest statements, investment statements, rental property income/expenses, and basic personal/family information.
Q: Do self-employed individuals need to make quarterly estimated tax payments?
A: Yes. Self-employed taxpayers generally must pay quarterly estimated income tax and self-employment tax to avoid penalties.
Q: What happens if I miss the tax filing deadline?
A: The IRS may impose penalties and interest. It’s best to file and pay as soon as possible.
Business & Startup Services
Q: How long does it take to form an LLC in Nevada?
A: Typically 3–7 business days for Secretary of State processing.
Q: What is the difference between an LLC and an S-Corp?
A: LLCs are flexible in management, while S-Corps may provide tax savings through salary/dividend strategies.
Q: Do companies without income still need to file taxes?
A: Yes. Even with no income, companies are required to file timely tax returns.
Real Estate & Investment
Q: How is rental property income reported?
A: Report rental income and expenses (depreciation, mortgage interest, repairs, etc.) on Schedule E.
Q: Can rental property losses offset other income?
A: Generally up to $25,000 per year, subject to active participation rules.
Q: What are the basic rules for a 1031 exchange?
A: The property must be for investment, and strict timelines apply for identification and closing.
ITIN & Immigration Support
Q: What is an ITIN?
A: An ITIN is a tax identification number issued by the IRS for taxpayers without an SSN.
Q: How long does it take to get an ITIN?
A: Typically 6–10 weeks, depending on IRS processing times.
Fees & Process
Q: Is the initial consultation free?
A: We usually provide a free short consultation; detailed tax planning may incur fees.
Q: How are tax preparation fees calculated?
A: Based on complexity and number of forms. A fee quote is provided before engagement.
Q: How can I submit my documents?
A: Via secure client portal, email, or in person.
General Questions
Q: Do you provide services in both Chinese and English?
A: Yes, we serve clients in both languages.
Q: Can you serve clients outside Nevada?
A: Yes, we support remote services nationwide.
Contact information
Phone: 702-292-1650
Email: alexzhoucpa@outlook.com
WeChat: alexzhoucpa