INCOME TAX
INCOME TAX or TAX RETURN is the process in which all taxpayers must file a tax return reporting all income
received during the fiscal year. Each person has a different situation and the results
of each vary. In short every taxpayer pays the total net income less a fixed
amount (which changes each year) for each member in the tax return, less other
allowable deductions (mortgage, donations, medical expenses that exceed 2% of revenues,
study expenses, property tax and other). Throughout the year when we pay our
salary, we retain a percentage as tax, allowing at the end of the year to
receive a refund according to the contribution that has been made.
If you need more information about filing a tax return or income tax you can look up the IRS Publication 17.
In Mundos Multiservice we can also answer any questions you may have concerning your taxes. Please feel free to contact us.
If you need more information about filing a tax return or income tax you can look up the IRS Publication 17.
In Mundos Multiservice we can also answer any questions you may have concerning your taxes. Please feel free to contact us.