Remote work encourages many young professionals to work for foreign companies, either through a contract or as freelancers. This can be very beneficial, but it raises some concern when it comes to...
Business Tax Articles
IRS Form 5471 – A Guide For US Owners Of Foreign Companies (2022 Tax Year)
Attention US owners of foreign companies! If you haven't already heard about it, brace yourself for IRS Form 5471 - one of the most complex and constantly changing tax forms that US-owned foreign...
Which Business Expenses Can Reduce Taxable Income
One of the most frequent questions business owners ask is which business expenses they can deduct to reduce their taxable income. If you are a US taxpayer with a business, either in the US or...
All 2023 US Tax Deadlines For Expats And International Entrepreneurs
Planning ahead for 2023 for your tax filings. Make sure that you are aware of the 2022 tax year deadlines. Below are the key due dates you need to know for your 2022 tax filings. If you are looking...
How Accountable Plans Help S Corporations Save Taxes
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...
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...
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...
