Non-resident aliens (NRAs), basically non-US persons, can own a US-based LLC and sell goods and services in the United States. The big question is: Does a foreign-owned LLC owe tax in the US? In...
LLC Articles
New FinCEN BOI Reporting For Small Businesses And Trusts – Beneficial Ownership Information
A new BOI reporting requirement came into effect on January 1, 2024, for US and foreign entities that conduct business in the United States. BOI reporting refers to the obligation to...
LLCs for US Non-Resident Service Providers
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...
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...
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...
LLCs And Taxes For Amazon Sellers (With Video)
By Vincenzo Villamena, CPA When starting an Amazon business, every seller needs to understand the available business structures and Amazon seller tax implications. The best business structure for...
US Tax Reporting Requirement For Foreign-Owned LLCs
By Vincenzo Villamena, CPA Are you a non-US person with a US LLC? Then you need to be aware of the US tax reporting requirement for a foreign-owned LLC, IRS Form 5472. Before 2017, foreign-owned...
LLC vs S-Corp – Which Is The Best Small Business Structure
Most US entrepreneurs and small business owners set up an LLC when they want to “make it legal”. LLCs are easy and comparably cheap to set up and operate. They can also be tax efficient, especially...
