Accurate and compliant U.S. federal income tax return preparation for individuals, expats, and cross-border taxpayers,prepared by CPA-licensed professionals in Miami and Toronto.
TYM Business Consulting prepares Form 1040 individual income tax returns with comprehensive documentation support, ensuring IRS compliance and long-term audit readiness.
Form 1040 is the primary U.S. federal individual income tax return used to report income, deductions, credits, and tax liability to the Internal Revenue Service (IRS). It is filed by U.S. citizens, lawful permanent residents, and other individuals with U.S. tax obligations.
Professional Form 1040 preparation helps ensure that income is reported accurately, deductions and credits are applied properly, and all required disclosures are included. This is especially important for individuals with complex filing profiles, including investment income, foreign income, business ownership, or equity compensation.
Errors or omissions in a personal tax return can lead to IRS notices, amended filings, or penalties. A professionally prepared return ensures consistency with source documentation and reduces the risk of future tax issues.
TYM Business Consulting provides structured Form 1040 preparation services as part of our broader U.S. Tax Services practice. Each engagement includes a full reconciliation of supporting documents and preparation of a comprehensive return support file to help maintain long-term compliance and audit readiness.
This service is designed for individuals who require professional preparation of their U.S. federal income tax return.
Individuals earning employment, business, rental, or investment income who must file an annual Form 1040 individual tax return with the IRS.
Expats who continue to have U.S. tax filing obligations and may require coordination of foreign earned income exclusion, foreign tax credits, and disclosure of foreign accounts.
Taxpayers who live or work across the U.S. and Canada and need coordinated reporting of foreign income, foreign tax credits, and applicable treaty considerations.
Owner managers receiving pass-through income from partnerships, S corporations, or LLCs, where individual returns must align with related business filings.
Taxpayers receiving RSUs, stock options, ESPP income, or significant investment income that requires reconciliation with brokerage statements and supporting records.
Taxpayers subject to foreign asset disclosure requirements, including FBAR reporting on FinCEN Form 114 and Form 8938 under FATCA.
Clients typically engage TYM when personal tax situations become more complex, including:
• Multiple income sources (employment, business, investments)
• Pass-through income from partnerships or S corporations
• Foreign income or foreign bank accounts
• Equity compensation events (RSUs, stock options, ESPP)
• Sale of real estate or investment assets
• Changes in tax residency or relocation between countries
• IRS notices or prior filing issues
• Prior returns prepared without CPA oversight
In these situations, professional preparation helps ensure accurate reporting, proper treatment of tax items, and adequate documentation of all reporting positions.
The engagement begins with a structured document checklist covering all relevant source records, including W-2 forms, 1099 forms, schedule K-1 allocations, brokerage statements, and prior-year tax returns.
TYM reviews all documents to identify missing information, reconcile income totals, and determine whether additional forms or disclosures are required.
Before preparing the return, TYM confirms the appropriate filing status and evaluates tax residency. This step is especially important for individuals with international income, dual country ties, or cross-border residency considerations.
Residency status determines which income must be reported and which tax rules apply.
The engagement includes preparation of Form 1040 and all applicable schedules and supporting forms, such as:
• Schedule A - Itemized deductions
• Schedule B - Interest and dividend income
• Schedule C - Self-employment income
• Schedule D and Form 8949 - Capital gains and losses
• Schedule E - Rental income and pass-through income
• Schedule SE - Self-employment tax
Where applicable, TYM also prepares the required disclosure forms related to foreign income, foreign assets, and other international reporting obligations.
Equity compensation is frequently misreported on individual tax returns. TYM reconciles RSU vesting, stock option exercises, and ESPP transactions against brokerage statements, payroll records, and employer documentation.
This helps ensure accurate reporting of both ordinary income and capital gains.
For individuals with self-employment income, investment income, or insufficient withholding, TYM calculates quarterly estimated tax payments to help reduce the risk of underpayment penalties and cash flow surprises.
Each engagement includes the preparation of a structured return support file containing:
• reconciled schedules
• carryforward documentation
• supporting income summaries
• key tax workpapers and reference documentation
This file provides an organized record for future filings, tax planning, and potential IRS correspondence.
• Federal Form 1040 preparation
• Required schedules and supporting forms
• Foreign income reporting and disclosure forms
• Carryforward coordination from prior returns
• Estimated tax payment calculation
• Return support file documentation
The following services may require separate engagements:
• State and local tax returns
• IRS audit representation
• Corporate or partnership tax filings
• Canadian T1 tax returns
• Estate or gift tax returns
• ITIN applications (available as a separate service)
Tax preparation fees depend on the complexity of the return and the number of schedules required.
TYM confirms fees following the initial tax scope review to ensure the engagement accurately reflects the required work.
TYM Business Consulting provides professional personal tax preparation services through offices in Miami, Florida and Toronto, Ontario.
Our Miami office works with U.S. residents, entrepreneurs, investors, and international professionals who require reliable federal tax return preparation.
The firm holds IRS Certifying Acceptance Agent status, which allows in-office identity verification for ITIN applications when needed.
Our Toronto office supports individuals with U.S. tax obligations connected to Canada, including U.S. citizens living in Canada and individuals with U.S. source income.
These engagements often require coordination between the U.S. and Canadian tax systems.
This page is provided for informational purposes only and does not constitute tax or legal advice. Tax obligations depend on individual circumstances and should be reviewed with a qualified tax professional.
If you require professional assistance with your U.S. personal tax return, the first step is a filing scope review to determine required forms, documentation, and filing complexity.
Whether you're a startup, an established business, or somewhere in between, we understand that every situation is unique. Let’s explore tailored packages or custom services that align with your goals and budget.
