The existence of a Turkish accounting firm in the US offers both Turks residing in the US and Turks residing in other countries and operating in the US the privilege and opportunity to receive the information and consultancy services they need in Turkish.
Amazon FBA and Geographies without Borders
Especially as a result of advances in communication and information technologies, today's businesses are not content with local opportunities. They invest beyond the borders of the country in which they are located in order to make better use of different opportunities on a global scale. Investment opportunities have increased to such an extent that entrepreneurs can now access detailed information about countries. They can also evaluate the supply-demand situation, differentiate production and distribution locations, and reach unfamiliar geographies very easily.
Due to important factors such as the size of the population, high purchasing power and vigor of demand, the US is one of the leading investment destinations. Both the vast geography of the US and easy access to large neighboring countries such as Canada and Mexico through effective transportation channels are among the factors that encourage investment in the US.
Investors can be located directly in the US and conduct their activities there, or they can be based in different countries and manage their activities remotely. Especially in recent years, applications such as the Amazon FBA system have mobilized a significant number of individual entrepreneurs. As a result of user-friendly applications, an entrepreneur has found the opportunity to open up to the US market without the need for huge initial investments by fulfilling a few procedures such as opening an account in the system and obtaining a bank account. In particular, the various advantages of individuals and businesses based in Turkey, such as production facilities, cheap raw materials and cheap labor, have been effective in this regard. Improvements in communication and transportation facilities have increased the mobility of products, and high exchange rates have caused businesses to shift their marketplaces to countries such as the US where they can earn foreign exchange income. Similarly, a person based in Turkey can have production made in China, send it to Amazon's warehouses, and follow other procedures from Turkey. Working with a Turkish accountant in the US is a need that arises at this point.
Legal Regulations in the United States and the Need to Work with a Turkish Accounting Firm
Whether individual or corporate, anyone who trades goods or produces services for commercial purposes ultimately faces various obligations, particularly tax obligations, under the legislation of the country in which they operate. In this context, Turks doing business in the US also have to fulfill similar obligations. Bookkeeping, calculating tax bases, filing tax returns, making preparations for wage payments, etc. can be given as examples of the obligations that businesses must fulfill.
The relevant regulations, which are technical and detailed in nature, may also be subject to significant changes and updates over time. It is very important for business managers to focus on the core activities of the business such as product development, procurement, marketing, advertising and customer relations for the healthy growth of the business. In this respect, it is an important necessity to obtain professional services from accounting consultancy companies for transactions such as pre-accounting, payroll, tax calculations, which must be followed but are not within the scope of the core business of the business, both in terms of saving time and reducing costs.
The user-friendly features of applications such as Amazon FBA, which allow easy access to the market, have enabled entrepreneurs who live in Turkey and sell in the US to do so without advanced English skills. In this context, there are many Turkish entrepreneurs who carry out these activities without a strong command of English. However, once the products are put on sale, the first people they need to come into contact with are accountants. In this respect, a consultancy firm based in the US and specialized in US legislation but providing services in Turkish is one of the most important needs at this stage. This need is not only for those living in Turkey but also for Turks living in the US. Turks engaged in commercial activities in the US will eventually need to work with an accounting firm. In this respect, a Turkish-language consulting firm is an important opportunity for Turks in this situation for a solid cooperation.
Healthy Communication and Common Culture
In America, where many people of different nationalities live, services are offered in a wide variety of languages and of different qualities. It is also possible for a Turkish entrepreneur to get accounting consultancy services from an American or a Chinese company. However, there are some advantages to receiving consultancy services from a Turkish company. These advantages stem from the elements of communication and culture.
In the consultancy service to be received on accounting, it is very important that the parties fully understand each other and that the communication is healthy. Healthy communication is also a factor that ensures trust. In addition, the similarities of people from the same culture on issues such as the way they do business and their perspectives on events will increase the efficiency of cooperation. Because cultural differences can also cause differences in people's perceptions and understandings. Cultural differences should also be taken into account in order to ensure full compliance with detailed regulations on technical issues such as accounting, tax, payroll, etc., to formulate appropriate strategies and to carry out activities within this framework, so that the parties involved fully understand and trust each other. In this context, Turkish consulting companies based in the US with expertise in the relevant fields and providing services in the native language are an important advantage for Turks or Turkish businesses operating in the US.
Operating in both the US and Turkey
Working with a Turkish accounting firm in the US also provides significant benefits for Turks operating in both the US and Turkey. Different regulations of different countries may make it difficult for businesses to fully comply with these regulations. Issues such as double taxation, different tax scopes and exemptions make the quality of the consultancy service that businesses will receive more important.
In this respect, Turkish accounting firms are again a step ahead for Turkish entrepreneurs due to their knowledge of the tax legislation and details of both countries, knowledge of best practices, and the breadth of the network to cooperate with on the required issues.
Sky Accounting as a Turkish Accounting Company in America
Sky Accounting, a New Jersey-based accounting firm, provides comprehensive accounting, tax and other related consulting services to both U.S.-based individuals and corporations and non-U.S.-based individuals and corporations operating in the United States. We provide services in Turkish, English and Spanish with our specialized and experienced staff.
Offering an important opportunity especially for Turks who want to work with a Turkish accounting firm, Sky Accounting provides consultancy and support services in the following areas
- Accounting
- Setting up accounting systems and providing support
- Pre-accounting
- Payroll
- Tax
- Tax planning
- Tax shield
- Preparation of tax file and filing of tax returns
- Solving tax problems
- IRS representation
- Other Topics
- Obtaining an ITIN number
- Advisory services for foreign investors
- Litigation support and forensic accounting
- Wealth management and strategy development
- Pension planning
