SERVICES

The foundation of tax expertise at NEW WAVE TAX is personal attention. Every client benefits from our attentive experts who listen closely to learn more about your particular tax situation. With that information, we apply our knowledge of current tax law to minimize tax liabilities and ensure that you benefit from every option to save. When it comes to tax planning and preparation, you need someone to help identify and take advantage of a full range of tax-saving strategies.

A core specialty is the preparation of tax returns for individual taxpayers. Over the years literally 1000’s of Federal and State returns have been prepared and filed. TAX PREPARATION includes the completion of Federal, State, County and City returns for individual as required by law. In order to provide you with the most favorable returns; we will require detailed information and documentation involving both your personal and professional financial situation. Our accuracy in reporting your income, deductions, and credits is based on you providing the necessary information. We may ask you to clarify some items but will not audit or otherwise verify the data you submit. Any advice, suggestions, or recommendations regarding your financial situation is based solely on the information we obtain from you and should be followed up with further guidance from your banker, attorney, or investment advisor. Our fee will be based on the forms required (NOT line item) at standard billing rates plus out-of-pocket expenses. Invoices are due and payable upon presentation. We will return your original records at the end of this engagement. OUR GUARANTEE: Is a FREE service limited to 3 years from the date of completion and available at the time the return is completed and paid for. We appreciate your confidence in us. Please call if you have questions.
Indian Taxation

We understand your unique tax filing needs. In today’s fast-moving world where time is everything, we offer online tax filing solutions for individuals that help you save time in achieving Tax Compliance. The solution is simple, smart and easy to use. We also provide tools and tips to help you file an accurate tax return without missing any tax benefits that you can claim. Answer simple questions about your income & investments for instantaneous computation of your personal tax. Absolutely compliant and accurate output!
ITIN Support
If you earn money in the United States but you don’t qualify for a Social Security Number, NEW WAVE TAX CONSULTING can help you apply for an Individual Taxpayer Identification Number (also known as an ITIN, PIN, Tax ID or Taxpayer ID) and file any and all pending tax returns.
Tax Representation

With the new IRS, more and more taxpayers are being audited. In the past 2 years over 500 more examiners have been hired by the IRS to examine both individual and business returns in an effort to reduce the “Tax Gap”. This means that more and more taxpayers are receiving letters, notices and are being audited. Everyone needs Representation in matters before the Internal Revenue Service, even if you think you have nothing to hide– don’t risk going alone. DON’T IGNORE them as there are definite time limitations. As Enrolled Agents (EA’s), we are licensed to represent you before the IRS.
We follow changes in tax laws throughout the year and alert you to developments that could have a significant impact on your finances. We will also represent you in the event of an IRS audit.
FBAR
All US Citizens and Residents who has a financial interest in or signature authority or other authority over any financial account in a foreign country and if the aggregate value of these accounts exceed $10,000 at any time during the calendar year, then it is mandatory to file FBAR with IRS by 30th June 2016 for the calendar year 2015.
We at NEW WAVE TAX CONSULTING obtain the relevant information regarding FBAR services along with the regular tax returns and process the same.
Amendment Filing
An amended tax return generally allows you to file your tax return again to correct your filing status, add or correct your income, claim or allow deductions or credits which you have missed out in your previously filed tax return.
At NEW WAVE TAX CONSULTING we will help you to file your Amendment Tax Return in any of the following reasons
Claiming additional Dependents.

Removing Dependents you previously claimed by mistake.
Reporting your proper filing status.
Reporting additional income

Making changes in your ‘Above the line Deductions’,’ Standard Deduction’ or’ Itemized Deductions’.

Changing your personal exemptions.

Claiming additional Tax Credits, removing Tax Credits mistakenly taken, or recalculating the amount of the Credits and

Reporting additional withholding etc.

Payroll Services
Outsourcing your payroll to NEW WAVE TAX CONSULTING is fast, secure and simple. You submit your payroll data by email/fax/web based communications. We process your payroll checks and reports and send them to you or make them available online. It’s safe, cost-effective and convenient
Corporate Services

Small business tax return preparation is a core service offered to a variety of business clients. Whether your company is a C corporation, S Corp, Limited Liability Company, Partnership or Sole Proprietor dealing in resale, service or a manufacturing industry, a properly prepared tax return can be filed to minimize the tax owed. TAX PREPARATION, as required by law, includes the completion of Federal, State, County and City returns for small businesses along with K-1’s for associated partners. In order to provide you with the most favorable returns, we will require detailed information using a variety of legal and financial reports. Our accuracy in reporting your income, deductions, and credits is based on you providing the necessary documentation. We may ask for clarification on some items but will not audit or otherwise verify the data you submit. Any advice, suggestions, or recommendations regarding your tax and financial situation is based solely on the information we obtain from you and should be followed up with further guidance from your banker, attorney, or business/financial adviser. Our fee will be based on the forms required at standard billing rates plus out-of-pocket expenses. Invoices are due and payable upon presentation. We will return your original records at the end of this engagement. OUR GUARANTEE: Our guarantee is a FREE service limited to 3 years from the date of completion and available at the time the return is completed and paid for.

New Business Formation
Thinking of owning your own business?
Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It’s up to you to maintain and stretch out the “thrill and excitement” period forever.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.
We help you…

  • Prepare an initial business plan to clarify your marketing, management, and financial plans.
    Determine your start-up capital needs.
  • Identify sources of start-up capital and backup sources if needed.
  • Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
  • Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
  • Select the right accounting software by evaluating your budget, needs and hardware.
  • Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
  • Establish billing and collection procedures to maximize your cash flow.
  • Establish procedures to monitor and control costs.
  • Setup a home office so you can maximize your tax deductions.
  • Prepare and file all required state and local licenses and permits.
  • Prepare and file your application for your Federal Employer Identification Number.
  • Provide payroll and payroll tax filing when you bring on your first employee.
  • Comply with employment laws so you don’t get hit with fines and unhappy employees.
  • Identify your business insurance needs.
  • Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.
  • Let us help you succeed by getting your new business off to a good strong start.