Loading...
Answers
MenuI am looking for an expert regarding incorporating in another country as well as the US, foreign and US tax laws for corporation, IRS...
Answers
Best option is H&R Block Executive Tax services.
They're way cheap, compared to accountants.
More importantly, their agents are required to go through courses + develop competency on every change to US tax code.
Since you have US citizenship, you'll be taxed on 100% of your world wide income.
To optimize your tax payments, search Clarity for postings about "Transfer Pricing" made by me previously + others.
Also, compare H&R Block tax services (as noted by previous response) with Legal Zoom. They are an online based legal service which specializes in business incorporating services, along with legal services. H&R Block could certainly answer your questions about tax liabilities in other countries, but Legal Zoom can answer your questions regarding incorporating in those countries and the process in order to do so. Thanks.
As a U.S. citizen, you always need to be mindful of your U.S. tax filing obligations, regardless of where you live or where you earn income. U.S. citizens are subject to income taxes on their worldwide income. If you live abroad as an expat, you may be eligible to take a foreign earned income exclusion for wages paid to you whilst you are physically present outside of the U.S. If you are looking to run an Amazon FBA business, you need to be mindful of the U.S. federal income tax obligations, as well as the state sales tax obligations that may arise depending upon your sales volume in each U.S. state. I would recommend consulting with an international tax CPA or tax attorney that can advise you on these various tax issues.
Related Questions
-
I received a letter from the bank closing my account due to the nature of my business. What should I do?
1) Change bank 2) Stop doing money laundering or giving them suspicions of doing so by avoiding excessive cash deposits/withdrawals or having periods of large movement and then no movement (these are triggers) 3) Have a good relation with your banker 4) If they ask you for nature of your business then answer truthfully 5) Ask them if its a mistake....these things happenChristos SavvaCS
-
Which is better 1099 vs W2? See details...
I'm assuming you're talking about yourself, working for another company? The first thing to consider is that a "1099" is NOT an employee, rather an "independent contractor". The IRS takes it seriously when a company claims 1099 contractors, when in fact, these contractors are treated as employees (the IRS wants payroll tax and will fine companies that miscategorize). To be a 1099 contractor, rather than an employee (W-2), you must have complete control over your schedule - when you work, how much ect. There are other criteria, but this is the main one - you must clearly not be treated the same as an employee. The other thing to consider is that if you are a 1099 contractor, you are responsible for paying and submitting your own income tax and self employment tax to the state and the IRS. It is more advantageous for a company to pay you as a 1099 contractor as they save paying employer portion of payroll taxes. Also you will not count as an employee for the Affordable Care Act (which impacts companies with over 50 employees). Hope this helps. KathrynKathryn CooperKC
-
What is the best way for a startup to draft Terms of Service and Privacy without spending thousands of dollars?
Your first point of reference should be experience. The most effective way to create your ToS is to consult with a lawyer who specializes in your industry. This also hold true for your that and any business legal document. It’s true that you can find different online services and templates to assist you, but the truth is that these documents could very well be null and void. Your business is specific and unique and your ToS should be the same way. I advise against copying your ToS or using one of the “easy to use” sites as they will almost certainly fail to include or capture everything. Read more: https://lawtrades.com/blog/protect-website-liability/ At www.lawtrades.com, we have plenty of experienced Terms of Service and Privacy policy lawyers who will complete it for you on-demand. I have seen PP and TOS prepared routinely for $599 or less, and these documents essentially serve as a “blueprint” for your business. (Full disclosure: I'm the founder/CEO). In my opinion, copying your competitors legal documents will not work for you in the long run. The odds are high that the business had their documents customized, and by copying and pasting you are claiming that your business has the same features and services which is highly unlikely. Hope this helped address some of your concerns. When you're ready, you make your request completely free at www.lawtrades.com to get a better feel for the process. Feel free to mention "clarity" for a discount :)Raad AhmedRA
-
If I come up with a coaching methodology / formula, is it protected under Copyright?
(I'm a small biz attorney who helps people with copyright, trademark, and other IP law, and I'm answering per U.S. law.) As soon as you take your idea and put it into a tangible format (write it down, create an infographic, record a video), then that writing/infographic/video is automatically protected by copyright law. You can record the copyright on it too, which makes it easier to protect and get damages from other people taking it. But the formula itself would be probably protected under trade secret law or patent law. Patent law obviously takes a bit more effort, because you have to apply for the patent and get your application examined by the USPTO, which takes years and $$$. Keeping it protected under trade secret law means you have to make an effort to keep it secret (which may not work if you are disclosing it as part of your marketing efforts), such as keeping it confidential and requiring NDAs. As someone else said, the other terms you use might be protected under trademark law. If a member of the public would use those terms to link your products/services with the source of the product/service (aka, your company), then they could be trademark-able. There are some state law protections for trademarks, and you can also file to register the trademark with the USPTO and get more protection. Hope that gets your started!Elizabeth Potts WeinsteinEP
-
Can my S-Corporation receive a 1099 on my behalf?
The income should be reported by the individual or business that provided the service and earned the income. If the 1099 is in your name, you could ask the issuing Company to change to the S-Corp if that is who earned the income. In the future, have a written agreement between your S-Corp and the Company you are providing service. Also, provide them with a Form W9, so they know where to report the 1099 income at year end.Chad ShultzCS
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.
