Personal / Family Annual Tax
Who needs to file a U.S. personal tax return?
The U.S. tax system is based on residency status and worldwide income — anyone who meets the filing threshold must submit Form 1040 each year, regardless of where they live. Many Chinese-American clients don't realize their foreign income must be reported after getting a green card.
15.3%
Self-employment tax
Apr 15
Standard deadline
Oct 15
With extension
Who must file
- U.S. citizens (including overseas dual citizens)
- Green card holders (permanent residents)
- Self-employed individuals / contractors with net income over $400
- Employees whose W-2 wages exceed the standard deduction
- Certain nonresidents with U.S.-source income
What we handle
- Form 1040 federal + CA 540 (or other state return)
- Schedule C self-employment income (truckers / contractors)
- Schedule E rental income / partnership K-1
- Schedule D + Form 8949 for stocks, capital gains, and crypto
- Itemized vs. standard deduction comparison
- Quarterly estimated tax (Form 1040-ES) planning
- ITIN application assistance for clients without an SSN
Filing deadlines
Standard: April 15 · With extension: October 15 (extension only delays filing — taxes owed are still due by April 15 or interest accrues)
Self-employed income — including most truckers — carries an extra 15.3% self-employment tax. We calculate your quarterly estimated payments and remind you of each due date so you avoid underpayment penalties.
Frequently Asked Questions
I still have income or savings in China — do I need to report them to the IRS?+
Yes. U.S. citizens and green card holders must report worldwide income, including Chinese bank interest, rental income, and investment gains. You may reduce the tax owed using the FEIE or Foreign Tax Credit, but non-disclosure is itself a violation — reporting is required regardless.
I only have cash income and never received a W-2 or 1099. Do I still need to file?+
Yes. Net self-employment income above $400 triggers a filing requirement, with or without tax forms. Unreported cash income is one of the most common compliance risks for truckers and independent contractors.
I missed filing for prior years — what should I do?+
You can file back returns for prior years. The IRS refund window is generally 3 years, and voluntary disclosure is almost always better than waiting for the IRS to contact you — it typically reduces penalties significantly.