Accounting and Tax-Related Services
Muso & Co.
Muso & Co. provides total support for various accounting and tax-related services for corporations throughout the United States. In the U.S., you can hire an accountant in any state for all your accounting and tax filing needs. Although our offices are in California, Nevada, and Texas, Muso & Co. can assist all clients throughout the U.S.. If you have questions or concerns, please contact us anytime.
U.S. Accounting Services
Our accounting professionals will operate your accounting on an outsourced basis in Muso & Co.. Specific services include the following;
Various slip entries (Bookkeeping)
In the U.S., many POS and EC services can link data with accounting systems, and data entry into accounting systems is almost automatic. Although we handle handwritten invoices and receipts, we implement accurate data entry with as much automation and minimal effort as possible.
Bank Account Management
Almost all banks in the U.S. offer extremely secure online banking services, which can also be integrated with accounting software. We take full advantage of these services to automate interbank transactions and to track and verify account transactions.
Various Billing Services (Invoicing)
We provide accurate and timely billing after completion of goods or services, and accurate management of payments through linkage with bank accounts.
Preparation of Various Financial Statements
We prepare monthly financial statements to report our clients’ business conditions in a timely and accurate manner, providing perfect support for their businesses.
Preparation of Quarterly and Annual Financial Reports
We can provide financial reports not only on a monthly basis, but also on a quarterly, annual, or other fixed period, and report them to our clients in a timely manner to propose both short- and long-term business strategies.
We provide depreciation management to maximize tax savings by accurately identifying and managing inventories and fixed assets.
Payroll and Payment Procedures
We provide one-stop services for payroll calculation and bank transfer setup for clients throughout the U.S., as well as various payroll-related procedures.
Payroll with Tax and Payment
We can quickly resolve various payroll tax issues, including payroll taxes that vary by U.S. federal government and state, and gross-up payroll that is calculated based on expatriates’ take-home pay.
Creation and Management of W2 and W3 forms
We can report U.S. individual income tax on your behalf, which is equivalent to the annual reporting of Japanese withholding tax.
U.S. Tax Services
Muso & Co. provides support for various tax-related services necessary for doing business in the United States. Specific services include the following;
Sales Tax, Use Tax Declaration and Payment
The U.S. Sales Tax and Use Tax are imposed on purchases of goods and services. Sales tax rates and taxable items vary from state to state, and some taxes are levied by groups or cities, which require the seller to collect and pay the tax. Use tax is paid on out-of-state purchases and purchases made without going through a retailer. We can handle the complicated calculation and payment of sales and use tax on your behalf.
Federal Income Tax Return
We prepare and file tax returns for all types of corporations, from C corporations to partnerships.
State Income Tax Return
Each state in the U.S. has a separate taxation rate and method of taxation, like an independent nation, with some states taxing by groups or cities. We can handle all cases.
Calculation of Scheduled Income Tax Amount
We will discuss your situation in detail to determine what your federal and state taxes are expected to be, and then we will calculate a realistic estimate based on historical figures.
Create 1099 Forms
In the U.S., when you make payments of $600 or more per year to sole proprietors, attorneys, partnerships, etc., you are required to file a Form 1099, Miscellaneous Income Payment Form, with the payee and the U.S. Internal Revenue Service (IRS). The 1099 form is divided into several categories, such as 1099-NEC, 1099-MISC, etc., and the correct form must be filed with the correct figures, and the due date is January 31 of the following year.
Gift Tax Return
The U.S. gift tax has an annual exemption amount ($16,000 in 2022) plus a lifetime exemption limit ($12.600,000 in 2022) and, contrary to Japan, the donor is obligated to file and pay gift tax. If a gift is made in excess of the annual gift limit, it must be declared, and the lifetime tax exemption is reduced.
Estate Tax Returns
Inheritance tax, also known as estate tax in the U.S., is imposed on estates left by the deceased. Like gift tax, there is no inheritance tax unless the lifetime exemption is exceeded, so it is applicable only to a few wealthy people. We provide support not only in the preparation of tax returns, but also from a long-term perspective.
Seki Water System LLC
We mainly provide web marketing consulting services to Japanese companies operating in the U.S..
Currently, we mainly do our accounting work by ourselves, but since the establishment of our company in 2018, we have been taking Muso & Co.’s accounting support. Muso & Co. members are always very friendly and grateful and give us their perfect support when we have difficulties using QuickBooks, such as inputting invoices and receipts. In addition, the tax return required to file once a year, we especially appreciate the great help we receive from the person in charge at Muso & Co, who has entrusted us with everything from the preparation to the filing of the documents.