Many S Corporation owners pay business expenses with personal funds and advance or reimburse themselves. At tax time, they would owe personal tax on the advance or reimbursement. With an Accountable...
Business Tax Articles
Entrepreneur Abroad? The Business Tax Guide for Expats
Not all American expats are employed by big companies. Actually, many run their own business while living outside the USA. If you own a business overseas or run your US business from abroad,...
Form 5472 Explained: The Top 10 Questions From LLC Owners
A foreign-owned single-member LLC is treated as a corporation for US tax reporting requirements. Foreign-owned corporations must file IRS Form 5472 or they face up to $25,000 in penalties. How do...
All 2022 US Tax Deadlines For Expats And International Entrepreneurs
Tax season is here. The IRS started accepting tax returns for the 2021 tax year. Make sure that you are aware of the 2021 deadlines, including the new deadlines for individual and self-employed...
When To Switch From LLC To S-Corp
Many US entrepreneurs set up an LLC in the beginning because it is straightforward and not too expensive. Generally, this is a good approach for the start as LLCs offer liability protection and...
Self-Employment Tax On Foreign Income – What Expats & Nomads Should Know (2021)
Do you live abroad or travel the world and work for yourself? Don’t overlook self-employment tax on foreign income! A common misconception among expats and nomads is that the first roughly $100,000...
Year-end Tax Tips For Business Owners And Entrepreneurs Abroad
2020 has been a tumultuous year for many businesses. As the year wraps up, business owners abroad have little time left for year-end tax planning to save on 2020 taxes. Here are our 5 year-end tax...
13 Common Questions From Non-US Residents About US Business Entities
An LLC and C-Corporation in the United States can offer many tax advantages to non-US persons. Correctly setting up your entity and filing taxes in the US can be complicated. If not done correctly,...
How To Open A US LLC When You Don’t Live In The US
A US-based LLC can have a variety of advantages for both American and foreign entrepreneurs abroad. To open a US LLC you don’t even have to live in the US. An LLC is essentially a hybrid between a...
Who Must File Form 5472?
If your US company has a foreign owner or foreign shareholders, then the company probably has to file form 5472 with the IRS. Form 5472 is an Information Return that a 25% foreign-owned US...
US LLC Taxes – A Potential Tax Haven For Foreigners, And Still A Good Option For US Taxpayers
Updated Jan 15, 2020, by John Hamilton, CPA A US-based LLC can have great tax advantages, especially for foreign entrepreneurs abroad. Even for US taxpayers, LLC taxes can be favorable. An LLC is a...
5 Tax Tips For Amazon Sellers And Other E-Commerce Entrepreneurs
Selling online through Amazon, eBay or any e-commerce site offers a great opportunity to make a location-independent income. If you are selling online in the US market and generate a steady income,...
