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Individual Tax

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Avant Tax, the best tax service provider in Texas, US, and the leading financial counselor in Texas provides our clients with the most beneficial and smart ways of paying the tax and saving maximum out of your tax payments. For each tax-paying individual, out team of experts brings an advanced financial planning solution to be tax-smart..

Individual Tax

As per the federal income tax law, each individual has to pay taxes as and when they receive or earn income during anytime of the year. This in simple words is known as pay-as-you-go-tax.

Estimated tax

Every earning individual has to pay taxes, mandatorily by regular tax remittance during the year. This includes your income from multiple sources and also includes self-employment income.

Self-Employment Tax

Self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. Payments of SE tax contribute to coverage under the social security system. Social security coverage provides with retirement benefits, disability benefits, survivor benefits, and hospital insurance benefits.

We have to pay SE tax and file Schedule SE (Form 1040) if either of the following applies.

  • If your net earnings from self-employment were $400 or more.
  • If you work for a church or a qualified church-controlled organization (other than as a minister or member of a religious order) that elected an exemption from social security and Medicare taxes, you are subject to SE tax if you receive $108.28 or more in wages from the church or organization.
Employment Taxes

When we have employees, the employer has certain employment tax responsibilities that must be paid and forms to be filed. Employment taxes include the following:

  • Social Security and Medicare Taxes
  • Federal Income Tax Withholding
  • Federal Unemployment (FUTA) Tax
Excise Tax

Excise Taxes and forms to be filed if any of the following is done:

  • Manufacture or sell certain products
  • Operate certain kinds of businesses
  • Use various kinds of equipment, facilities, or products
  • Receive payment for certain services
Form 720

The federal excise taxes reported on Form 720, consist of several broad categories of taxes, including the following:

  • Environmental Taxes.
  • Communications and Air Transportation Taxes
  • Fuel Taxes.
  • Tax on the first retail sale of heavy trucks, trailers, and tractors
  • Manufacturers taxes on the sale or use of a variety of different articles
Form 2290

There is federal excise tax on certain trucks, truck tractors, and buses used on public highways. The tax applies to vehicles having a taxable gross weight of 55,000 pounds or more.

Form 730

Liable for the federal excise tax on wagering, if in the business of accepting wagers or conducting a wagering pool or lottery.

Form 11-C

Occupational Tax and Registration Return for Wagering, to register for any wagering activity and to pay the federal occupational tax on wagering.

Contact Avant Tax, one of the best tax service providers in Texas, US for all your taxation requirements.