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Global Business Growth Club
Public • 1.5k • Free
38 contributions to Global Business Growth Club
23d ago
ITIN number - Tax obligated as a Nonresident?
I own a US single member LLC and stay in India. For the purposes of getting a US credit card and PayPal account, I am planning to get an ITIN number. My question is if I get an ITIN number should I pay taxes in USA or in India? ( please know that I also have a separate business in India, which is not related to the one I am running in Usa) @James Baker
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New comment 12d ago
1 like • 15d
@Hem Reddy adding to Paolas comments, if tou already have a SMLLC in the US, you will still need to file tax returns, even if you don’t owe tax. Just be mindful of that. Penalties are severe.
0 likes • 12d
@Paola Moreno hi Paola, could you send @Hem Reddy links to James videos on the subject? I know he has several on this topic. Thanks!
18d ago
How can you transfer a company to another person?
is there a video on the topic? Are there taxes on the transfer? Does the company have to be sold or can it simply be transferred? Where can you read about it and how does it work in a close corporation, because after all, there are normal shares or not? Would that then be a kind of “gift to another person”?
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New comment 15d ago
1 like • 15d
@Adrian K very complicated subject with a lot of pitfalls…strongly recommend a consult with a tax attorney.
16d ago
Next step after residential virtual address
Hello there. I just got my residential address in NM. Now I want to open an LLC with bizee.com To make sure that I can open a virtual us bank account successfully without hesdaches, what are the most reliable options 1) register my company as LLC 2) register my company as Multi LLCm 3) register as a Sole proprietorship? Thank you for the wisdom!
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New comment 12d ago
0 likes • 15d
Depends on what your goal is…each entity type has its pro and cons… check James Baker videos on the subject. He has to s of information on this. Good luck
24d ago
annual report filing and switching to MMLLC, WHICH FIRST?
My annual filing has arrived and I was thinking to switch to MMLLC. Should I do the filing first and then the switch? Or vice versa? OOR, Can I switch via the annual report filing? Thanks!
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New comment 15d ago
0 likes • 15d
@İrem Erdem i think you will need a new EIN…https://www.irs.gov/businesses/small-businesses-self-employed/do-you-need-a-new-ein
Aug 25
1040-NR
If I have an ITIN, am I required to report all my US Multi-Member LLC earnings on a 1040-NR every year? if so does that change my tax obligations ( considering I have no ECI)
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New comment Aug 28
1 like • Aug 28
@Peter A hi there, this might help you: https://www.irs.gov/forms-pubs/about-publication-519
1-10 of 38
Active 20h ago
Joined Feb 25, 2024
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