Loading...
Answers
MenuWould it be tax compliant to say income is sourced in Puerto Rico if a PR co wholly owned a NV LLC (no employees) and all revenues flowed thru to PR?
The Nevada company’s only purpose is used to get merchant processing since banks won’t underwrite a PR company. All owners live and operations are done in PR.
Second part of this would be: If no, then could the PR company pay the NV company a fee to manage the merchant processing, so then it becomes more of a vendor relationship (eg NV charges a 1% fee to manage processing, so all funds flow thru to PR company minus 1%.)
Answers
It depends on the type of business product or service. If it is a service basis company, and all the services have been done by the owners in PR, then the income would be not the U.S source of income.
International tax is one of my expertise. My tax firm, SBS Tax and Consulting Services, works closely with foreigners who own businesses in the U.S. Therefore, I can answer any tax questions you may have.
Related Questions
-
Are promissory note installments considered capital gains? I'm selling my website and would love insight on the financial details.
Yo are talking apples and oranges. Capital gains are related to your basis not the form of payment. If you are a cash basis taxpayer, you pay taxes when you receive cash beyond your basis. We can help you with structure.JH
-
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.CS
-
Tax question: My Kindle publishing revenue is being taxed 30% by the US gov. Do i still need to be taxed or even declare my earnings in my country?
First I'm lot a tax attorney or even know anything about Malaysian tax law. I'm however a person that has moved around a lot and have encounter this situation before. You will must likely have to declare your US income in your home country. However some local tax laws allow for a deduction of foreign tax paid at source. I have not found a US tax treaty between US and Malysia but you should contact a local tax attorney or the tax agency there and ask if they allow deductions or exemptions for foreign tax paid at source. If they do, you would declare your income and deduct the amount of tax already paid to the US. You may or may not still be liable for additional tax on that income. Again it depends on local tax rates and policies. It's never a good idea to hide income from your tax agency though.DA
-
How are SaaS companies taxed?
Same as any other entity (or person). Entity pays taxes in it's domicile jurisdiction. Best you talk with a tax preparer in your home country to ensure you have all the details. And... If you're a US citizen + your SAAS company is generating massive cash, likely best to organize your entity in a low tax jurisdiction, like Bermuda which is home to Google, Intel, Verizon, etc. And... best wait till Trump's new tax bill passes. If he has his way, corporate taxes may drop to a point low enough to keep your business in the US.DF
-
If I get a virtual address for my company and I work from home; will I still be eligible for tax credit on my home office?
yes. As long as your main place of work is your home/office.JF
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.