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Professional, Accurate One-stop U.S. tax accounting services
The United States market stands out as one of the most promising for import-export and e-commerce globally.
It is a highly lucrative consumer market that attracts businesses worldwide seeking to expand their operations and engage in import-export activities.
Broad Consumer Base
High Shopping Demand
High price tag, considerable strength lies in the U.S. dollar
Consumer Preference for E-commerce
These factors make the U.S. market appealing not only to well-established businesses looking to expand their global reach but also to young entrepreneurs aiming to initiate ventures through e-commerce platforms. The combination of a robust consumer base, high purchasing power, and a preference for online shopping creates a favorable environment for businesses involved in import-export and e-commerce activities in the United States.
Doing a business in the United States has become easier and faster
Procedures and documentation are all carried out online.
There are diverse options for reputable shipping services.
All procedures and documentation can be conducted online, making the process convenient and efficient.
Doing business and engaging in import-export activities to the U.S. has also become more straightforward with the increasing availability of reliable shipping options for businesses.
What are the key considerations when doing business in the United States?
Financial accounting activities for U.S. companies
Reporting procedures overlapping between State and Federal governments in the U.S.
Multi-tiered corporate income tax policies
Individual income taxes
Sales Tax
Withholding tax
What points should be noted when doing business in the United States?
For businesses operating in the U.S. market, the U.S. companies should seek professional tax and accounting services from Certified Public Accountants (CPAs) in the U.S. (experts with qualifications recognized by the Internal Revenue Service ("IRS")) such as Global Link Asia Consulting. This ensures comprehensive support for accounting services following U.S. GAAP standards, tax policy consultations, and tax filings in the U.S.
The following information will introduce all accounting and tax services for the U.S. companies provided by Global Link Asia Consulting.
Overview of the U.S. tax system
The United States is a Federal republic, combining the horizontal division of powers between the President, Congress, and the Courts (all sharing power under the Federal government) and vertically (between the Federal and State governments).
From the perspective of tax policy, all individuals living in the U.S., or foreigners/foreign companies doing business in the U.S., must prepare tax reports and declarations to file with the State government where they live, do business and/or incorporate a company or businesses, anh with Internal Revenue Service - IRS (tax department of the Federal government) every year.
What is the U.S. Federal tax?
All individuals, U.S. citizens, or foreigners who own any company in the United States must file personal and corporate income tax returns to the Internal Revenue Service (IRS) whether the company is profitable or not.
What is U.S. State tax?
Companies will have to pay State and Federal taxes depending on the regulations of the States in which the company is incorporated and operating. Taxes include corporate income tax (CIT), personal income tax (PIT), Franchise taxes, Sales Taxes, etc.
A summary of U.S. corporate annual filing
Every year, U.S. companies are required to prepare and submit various reports to fulfill their legal obligations:
Annual Report
This report is submitted to the State government where the company is incorporated, and includes updated information such as the company's address and the list of owners. It must be submitted annually alongside income tax declarations.
Federal Income Tax Returns
U.S. companies need to file corporate income tax returns or partnership or personal income tax returns with the Federal government. The specific requirements and forms will vary based on the company type (LLC, Corporation, or S-Corporation) and the number of members/shareholders.
State Income Tax Returns
U.S. companies need to file corporate income tax returns or partnership or personal income tax returns with the State government of incorporation or operation. The filing requirements depend on the company type, number of members/shareholders, and the chosen tax return option.
Sales Tax Returns
If a U.S. company sells goods or services and has a physical or economic presence (nexus) in certain States, it must file Sales Tax returns for those specific States.
Note for businesses
Additionally, some businesses may have to file additional reports related to contractor tax or other taxes, depending on the industry and activities involved.
Professional tax accounting services for U.S. Companies
The U.S. companies are required to prepare and submit the following reports:
Professional annual tax accounting services for U.S. companies
Monthly/quarterly financial reporting service for businesses established in the U.S.
Professional annual tax accounting services for U.S. companies
- 1
Synthesize invoices and documents
- 2
Reviews documents
- 3
Prepare a comprehensive set of financial statements
- 4
Submit reports, tax declarations
- 5
Track and explain
Step 1: Synthesize invoices and documents
Efficiently processing them, and seamlessly importing them into the renowned Intuit QuickBooks accounting software, widely used in the U.S.
We understand that enterprises with unique requirements, such as multiple branches and subsidiaries, may need customized solutions. That's why we offer support for the installation and optimization of QuickBooks software to align with the specific administrative needs of each enterprise.
Step 2: Reviews documents
Conducting thorough analyses and assessments to ensure your accounts in accordance with U.S. law.
Step 3: Prepare the financial reporting package, including
- General Ledger: A detailed ledger of transactions summarizing all events throughout the financial year.
- Balance sheet: An accounting statement reflecting the financial position of the business during the financial year.
- Income statement: A report detailing the business's operating performance during the financial year.
- Cash flow statement: A statement reflecting the cash inflows and outflows during the financial year.
- Change in Equity: A report illustrating changes (if any) in equity during the financial year.
- Financial Report: A comprehensive set of financial reports in English, including reports 2-5 and the financial statement notes. This report is prepared based on U.S. Generally Accepted Accounting Principles (U.S. GAAP).
Step 4: Submit Reports, Tax Declarations
Once the set of financial reports has been reviewed and approved by the business owner, Global Link Asia Consulting will compile other relevant tax reports and declarations for submission to both State and Federal tax agencies. We will also provide guidance on filing corporate income taxes (if applicable).
Step 5: Track and Explain
Global Link Asia Consulting will monitor the reporting and explanation process with State and Federal tax agencies (if applicable) and check the business's tax filing status with both State and Federal tax authorities.
Monthly/quarterly financial reporting service for businesses established in the U.S.
This is an ideal solution for companies with a high volume of transactions, a U.S. workforce, and a need for detailed internal control over revenue, expenses, salaries, and profits every month. Similarly, U.S. companies that lack in-house accounting staff or have foreign owners can benefit from the expertise of our professional accounting team, who possess a deep understanding of U.S. tax laws.
With the monthly, month-end, or quarter-end accounting service package, Global Link Asia Consulting will output reports for business owners to review, store, and balance revenue and appropriate expenses for the end of the year.
Special note
Your monthly tax accounting services cover everything the same as our annual tax accounting package. In addition, we help:
Consult on the issuance/contract to your clients;
Input invoices;
Present periodic reports (monthly/quarterly) or as per specific requests;
Consult on various tax-related matters;
Inform latest tax policies and regulations.
WHAT OUR CLIENTS SAY?
Linh Phan [...] The accounting team is highly professional, providing assistance with automated workflows. Our dedicated project accountant is enthusiastic, proactive, and highly skilled.
Thai Duong [...] The Global Link Asia Consulting team consistently updates and reminds us about accounting documents and records promptly, quickly addressing any inquiries from our company. Many thanks to the team.
Your business is suitable for:
Financial reporting services annually or monthly/quarterly?
Financial reporting services annually are suitable for:
Newly established companies in the U.S.
U.S. companies with few transactions.
Companies in the U.S. without employees.
Financial reporting services monthly or quarterly are suitable for:
E-commerce companies and dropshipping businesses on platforms like Amazon, Etsy, TikTok Shop, Shopify, etc.
Companies with a high volume of transactions through payment gateways like PayPal, Stripe.
Companies needing monthly control over internal operations (revenue, expenses, salaries, profits, etc.).
Companies without internal accounting and requiring support for sustainable business.
Tax consultation services, State and Federal corporate income tax filing for U.S. companies
For U.S. companies already having an accounting department understanding and proficiently executing financial reporting according to U.S. accounting standards, Global Link Asia Consulting will assist these companies in filing annual corporate income tax with the U.S. Federal government.
Moreover, during operations, whenever the business requires tax consultation in the U.S., please contact Global Link Asia Consulting for support.
Income tax filing services for the Federal government include:
1
Reviewing financial reports to assess the reasonableness, validity, and accuracy of the reports.
2
Estimating tax liabilities for each type of company and providing advice to the business.
3
Preparing and filing corporate income tax returns for U.S. companies with the U.S. IRS based on confirmed financial reports.
4
Submitting tax returns to the U.S. IRS and monitoring.
Valuable tips for U.S. businesses: Additionally, during operations, whenever the business requires tax consultation in the U.S., please contact Global Link Asia Consulting for support.
Fast - Professional - Dedicated Support - Bilingual in English and Vietnamese
U.S. Sales Tax consulting and registration services
Learn more about Sales Tax
What is Sales tax?
Sales Tax is a tax levied on the sale of goods and services. Tax is usually calculated as a percentage of the sale price and added to the total amount payable. In most States in the U.S., sellers collect taxes and pay them to the government.
Is Sales Tax applied on goods or services?
Sales Tax is generally applied to all sales of goods and services. However, not all goods and services are subject to Sales Tax. For example, some States may exempt food and prescription drugs or services from Sales Tax. In addition, some U.S. States provide reduced Sales Tax rates on certain items, such as clothing or books.
Sales Tax rates vary from State to State. In the U.S., Sales Tax rates range from 0% to 10%, depending on the State.
Sales Tax policies vary from State to State.
All-in-one Sales Tax service package
Registration service for U.S. Sales Tax ID
Global Link Asia Consulting supports businesses to register for Sales Tax codes in all States in the U.S.
To register for a Sales Tax number, a business must register for a Sales Tax number in the State of incorporation and the State of sales. Businesses, please get in touch with Global Link Asia Consulting for advice and support.
Sales Tax declaration service
Sales Tax declaration service helps businesses prepare and submit Sales Tax returns in accordance with the regulations and deadlines of each State.
Sales Tax exemption registration service
A resale tax certificate is a certificate that allows a business to purchase items for resale without paying State Sales Tax. The business must provide the seller with a copy of the certificate, which the business owner must sign.
Sofware Installation Service for calculating, collecting and paying Sales Tax
Unlike other countries with fixed value-added tax (VAT), goods and services tax (GST), Sales Tax in the U.S. is very complicated because each State, city, and county There will be a different rate of Sales Tax on the same item.
This software ensures accuracy in tax calculations and helps track Sales Tax obligations, allowing businesses to comply with Sales Tax laws effectively.
Why choose Global Link Asia Consulting for U.S. tax and accounting support for your company?
Professional accounting team, U.S. CPAs with over 20 years of experience.
In-depth understanding of U.S. accounting standards and tax laws.
Optimal tax advice for business owners, deep consultation on company types, and associated benefits.
Professional services available in both Vietnamese and English for continuous support.
Thorough reminder assistance for deadlines to avoid penalties.
Direct written explanations and support with the U.S. IRS when your business needs assistance or faces penalties.
Frequently asked questions when setting up a company in the U.S.?
Annual report (Annual report) is a declaration that updates the company's address, the list of company owners that must be submitted annually, and the personal and corporate income declarations.
The amount of corporate income tax that a U.S. company has to pay each year varies depending on several factors. For State governments, the tax policy applicable to U.S. companies is determined by the State of incorporation, the type of entity (such as LLC, Corporation, or S-Corporation), and the number of members or shareholders.
For the Federal government, the tax policy applicable to U.S. companies is influenced by factors such as the type of entity (LLC, Corporation, or S-Corporation), the number of members or shareholders, and the chosen tax filing method.
U.S. companies will have two layers of annual reporting obligations: file tax returns with the State and Federal governments (U.S. Tax Department).
Every year, U.S. companies are required to prepare and submit the following reports:
- Annual report
- Corporate income tax return and personal income tax return
- Sales Tax returns
Depending on the entity type, the number and the nature of tax filings are different.
The U.S. companies cannot file their U.S. tax returns with the U.S. tax office. Especially companies whose owners (members, shareholders) are foreigners. U.S. tax returns must be filed through certified and accredited accounting units with the U.S. tax office.
Global Link Asia Consulting can assist the company in the following matters:
- Consultation on suitable tax structures for LLCs (individual or corporate);
- Monthly/yearly tax accounting services in accordance with U.S. accounting standards (USGAAP);
- Consulting and licensing of accounting software suitable for U.S. companies;
- Preparation and filing of Federal tax returns;
- Preparation and filing of Sales Tax
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I aim to employ international financial report preparation, advisory, and tax filing services to instill professionalism and achieve breakthroughs in my business today.
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470 North Bridge Road, #05-12, Bugis Cube, Singapore (188735).
Unit 2302, 23/F, New World Tower 1, 18 Queen's Road Central, Hong Kong.
12th, Felix Alley Building, 151/1-2 Nguyen Van Troi, Phu Nhuan District, Ho Chi Minh City, Vietnam.
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