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Financial statements audits
Financial statement audits
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Compliance audits
Compliance audits
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Compilations and reviews
Compilations and audit
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Agreed-upon procedures
Agreed-upon procedures
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Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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International tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Tax compliance
Business Tax
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Individual taxes
Individual taxes
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Estate and succession planning
Estate and succession planning
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Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Sales and use tax and indirect taxes
SUT/ VAT & indirect taxes
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Tax incentives program
Tax incentives program
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Transfer Pricing Study
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Business consulting
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Forensic and investigative services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
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Fraud and investigations
The commercial landscape is changing fast. An ever more regulated environment means organizations today must adopt stringent governance and compliance processes. As business has become global, organizations need to adapt to deal with multi-jurisdictional investigations, litigation, and dispute resolution, address the threat of cyber-attack and at the same time protect the organization’s value.
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Dispute resolutions
Our independent experts are experienced in advising on civil and criminal matters involving contract breaches, partnership disputes, auditor negligence, shareholder disputes and company valuations, disputes for corporates, the public sector and individuals. We act in all forms of dispute resolution, including litigation, arbitration, and mediation.
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Business risk services
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Internal audit
We work with our clients to assess their corporate level risk, identify areas of greatest risk and develop appropriate work plans and audit programs to mitigate these risks.
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Service organization reports
As a service organization, you know how important it is to produce a report for your customers and their auditors that instills confidence and enhances their trust in your services. Grant Thornton Advisory professionals can help you determine which report(s) will satisfy your customers’ needs and provide relevant information to your customers and customers’ auditors that will be a business benefit to you.
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Transactional advisory services
Transactions are significant events in the life of a business – a successful deal that can have a lasting impact on the future shape of the organizations involved. Because the stakes are high for both buyers and sellers, experience, determination and pragmatism are required to bring deals safely through to conclusion.
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Mergers and acquisitions
Globalization and company growth ambitions are driving an increase in M&A activity worldwide as businesses look to establish a footprint in countries beyond their own. Even within their own regions, many businesses feel the pressure to acquire in order to establish a strategic presence in new markets, such as those being created by rapid technological innovation.
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Valuations
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Recovery and reorganization
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
Form 499 R-4
The Withholding Exemption Certificate (Form 499 R-4) is the document used by the employee to notify his/her employer of the personal exemption, exemption for dependents and the allowance based on deductions to determine the income tax to be withheld from the employee’s wages.
Young individuals’ resident of Puerto Rico whose ages fluctuates between 16 and 26 years at the end of the taxable year, are entitled to an exemption on the first $40,000 of gross income from wages. To claim this exemption, the employee must include the date of birth.
Personal Exemption
- Individual tax payer (single person, married that granted prenuptial agreement of total separation of assets or married not living with the spouse).
- Married – if you are married and choose the optional computation, the personal exemption will be considered on a 50% basis for each spouse.
- Veterans – every veteran is entitled to claim an additional personal exemption.
Exemption for Dependents
The number of dependents, shall be the same as the number claimed in the personal income tax return. If the employee has joint custody and have not released the claim to this exemption, only the 50% of the exemption will be considered.
Allowance based on deductions
You have the option to consider in the withholding computation, the deductions that you will be able to claim on your tax return, such as home mortgage interest, charitable contribution, medical expenses, interest paid on student loans or retirement systems, contributions to IRA’s and Educational IRA’s, Contributions to health savings accounts, casualty loss on your principal residence and loss of personal property as result of certain casualties.
Any employee may elect for his/her employer to withhold an amount in addition to the one required.
The employer shall consider the information provided by the employee on this Certificate in order to make the withholding according to the Employer’s Guide on the Withholding of Income Tax at Source on Wages for the corresponding taxable year.
Links – Puerto Rico Department of Treasury
http://www.hacienda.gobierno.pr/sites/default/files/documentos/499_r-4_2.pdf
http://www.hacienda.gobierno.pr/sites/default/files/documentos/499_r-4_1.pdf