Filing taxes in the United States is a key issue to ensure financial stability and legal compliance, according to an expert in financial engineering. In a statement, it emphasizes that complying with tax obligations not only avoids penalties, but also offers opportunities to optimize personal and business finances.

Benefits of Filing Taxes

According to the financial engineer, filing taxes properly provides several benefits:

• Guaranteed Legal Compliance: You will avoid problems with the IRS and possible fines.
• Taking advantage of Tax Benefits: Such as deductions and tax credits that can reduce your tax burden.
• Reliable Financial History: Essential to apply for loans, visas and other financial benefits.
• Avoid Audits and Sanctions: Declaring on time protects you from unnecessary costs and reviews.

What Types of Taxes Exist?

In the US tax system, the following stand out:

• Income tax: Applicable to individuals and companies.
• Payroll taxes: Include contributions to Social Security and Medicare.
• State and local taxes: Each state sets its own tax rules.

Corporate and Personal Statements

The specialist highlights that both corporate and personal taxes require attention:

• Corporate: Companies such as LLC or C-Corp must report income, expenses and profits to determine tax liabilities.
• Personal: Independent professionals and employees must declare all income earned during the year, including secondary income such as investments or rentals.

The Key: Preparation and Advice