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Global Business Growth Club
1.9k members • Free
31 contributions to Global Business Growth Club
19d •
Advice needed regarding my Proof-of-Address challenge:
Hi friends, Recently, I have located a person from North Carolina (not a friend or family member) who is willing to allow me to use their home address so that I can receive mail and get a Utility bill in my name at their address. North Carolina is 14 hours drive south of the Canadian Border and I really do not want to visit this state because it’s cost and time prohibitive for me. (It’s very difficult to get an ongoing USA Utility bill in your name if you don’t have an American friend or family member.) My plan was to ultimately open 2 Personal Bank Accounts and 2 or 3 Business Bank Accounts in Niagara Falls NY which is just a 2 hour drive for me. I live in Toronto. My concern is that I could walk into any of the Big USA banks branches in Niagara Falls NY and when the bank employee looks at my proof of address and notices I claim to live in North Carolina …. ….is that this bank employee is going to kick me out of her branch and insist that I go visit a BOA branch that is in North Carolina? Based on my needs of wanting to open "multiple bank accounts," am I crazy for even considering using a person’s North Carolina address when I’m never really wanting to visit North Carolina? And, am I constantly going to be fighting an uphill battle with bank employees at Niagara Falls NY banks when they ask me why I just don’t open a Personal-or-Business bank account in the State (North Carolina) that my paperwork says in live in? Or, will Niagara Falls NY bank employees not be to concerned as long as all my other paperwork looks good?
1 like • 6d
You may be overcomplicating the process. Major U.S. banks such as Bank of America and Chase routinely open accounts for clients whose residential address is in a different state. A branch in New York will not require you to visit a branch in North Carolina simply because your documentation lists an address there. In addition, a utility bill is not strictly necessary when you appear in person. Banks generally accept a variety of address documents, such as a credit card statement, another bank statement, or a simple lease or sub-tenancy agreement. The address is required only at account opening; it does not need to be maintained afterward.
Oct 27 •
Amex Global Transfer
Hello Members ! I have been trying to get Amex Gold through Global Transfer programm. I am Living in Germany and have been Using Amex Platinum since 4 Years. Anyone here as US-Non-Resident successfully got american Amex Gold card? The option i know (theoretically): Buy an US-Address (like from anytime mailbox) > Buy US-Phone Number (like from Tello) and use the invoice mentioning the Address and then apply for Amex. Has anyone got through this process sucessfully?
1 like • Oct 31
Hi, do you know that Amex Global Transfer program is not the only way to get a US credit card? If you have SSN (about ITIN I'm not sure), you can get a "secured" credit card. (basically, you pay a security deposit to the bank, and that deposit becomes your credit limit... And after a year if you have no problems with your payment history, you get your security deposit back).
Apr 16 •
IRS 1120 and 5472 for an LLC founded in 27-12-2024
Do you need to file 1120 and 5472 for 2024 for an LLC founded in 27-12-2024?
0 likes • Apr 28
@Rudolf Schmidt yes, you are right
1 like • May 6
@Rudolf Schmidt: by the way, here are some insightful videos from James Baker on this topic:
May 4 •
Business Expense Charge Back
I need to charge another business for an expense I made on their bhalf. When the chargeback is paid, it will come as revenue - And therefore taxable. What's the best way to bill costs back ? thank you
0 likes • May 5
@P S : there are 2 options of what you can do: 1) Bill them as a Disbursement or Reimbursement: Disbursement/Reimbursement structure means you bill only for the actual expenses incurred — no markup, no profit. You should attach receipts and clearly indicate that this is a pass-through expense. Use language like: "Reimbursement for out-of-pocket expenses incurred on behalf of [Client's Name], per agreement". This be classified in your books as a contra expense or liability offset, not as revenue, thus avoiding income tax on the reimbursed amount. 2) Bill them as Revenue but Offset by Expense (If simpler). If you don't set up a pass-through structure, the reimbursement will be taxable income (revenue).In that case, the expense you incurred should also be on your books as an expense, so you get an expense deduction to offset the taxable income (though timing differences can arise). This could be simpler to administer, but you have to report both the income and the expense, and your margins/profitability metrics may be distorted. Also, timing mismatches could result in temporary tax liabilities. Good luck!
Apr 30 •
Business Address Proof of Address (using an EIN letter from IRS?)
I was watching a video where JB was talking about proof of business address and that he uses sub-lease agreements for his clients. But given the business has to have the EIN in the same address, why couldn't the EIN letter from the IRS be uses to prove the business address? Anyone have any thoughts on this?
1 like • May 5
@Brandon Smith: An EIN letter from the IRS (Form SS-4 Notice CP 575) does contain a business address, but: - The address is simply what was provided when applying for the EIN. - The IRS does not verify or validate the physical presence of the business at that address. - This address can easily be changed by filing a form (Form 8822-B), so it's not considered a strong or verifiable proof of physical presence. Banks and payment processors often require proof that shows you are actively operating from a location, not just that you submitted an address on a form.
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@vitaly-kliger-2607
digital nomad | freelance data engineer | LLC owner
Active 2d ago
Joined Jan 20, 2025
Netherlands
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