Individual Taxation

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Individual Taxation

At Haval Accountants Ltd., we provide comprehensive tax services tailored to meet the needs of both resident and non-resident individuals.

For Residents:

As a resident of the United States, you are subject to taxation on your worldwide income. Our team of experienced tax professionals can assist you in maximising deductions, optimising credits, and ensuring compliance with all IRS regulations. Whether you’re a salaried employee, self-employed individual, or investor, we’re here to help you minimise your tax liability and achieve your financial goals.

Commonly used forms for residents include:

  • Form 1040: U.S. Individual Income Tax Return
  • Schedule A: Itemised Deductions
  • Schedule C: Profit or Loss from Business
  • Schedule D: Capital Gains and Losses
  • Schedule E: Supplemental Income and Loss
  • Form 8829: Expenses for Business Use of Your Home
  • Form 8863: Education Credits (American Opportunity and Lifetime Learning Credits)
  • Form 8917: Tuition and Fees Deduction
  • Form 8962: Premium Tax Credit (PTC)
  • Form 1040-ES: Estimated Tax for Individuals
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For Non-Residents

Non-resident individuals with US income sources are also required to fulfil their tax obligations to the IRS. Whether you earn income from investments, rental properties, or employment within the US, our experts can provide guidance on tax withholding, filing requirements, and treaty provisions to help you navigate the intricacies of US taxation. We understand the unique challenges non-residents face and are committed to providing personalised solutions to meet your needs.

Commonly used forms for non-residents include:

  • Form 1040-NR: U.S. Non-resident Alien Income Tax Return
  • Form W-8BEN: Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting
  • Form 1042: Annual Withholding Tax Return for U.S. Source Income of Foreign Persons
  • Form 1042-S: Foreign Person’s U.S. Source Income Subject to Withholding
  • Form 5472: Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business
  • Form 1040-ES: Estimated Tax for Individuals