IRS

What are my tax duties as a non-resident-alien and LLC owner?

My answer to What are my tax duties as a non-resident alien and LLC owner? Answer by Wray Rives CPA CGMA: First off I need to give you a disclaimer that taxation of non-residents by the US is a complex topic.  I am going to give you general answers, but you really should contact a Read more about What are my tax duties as a non-resident-alien and LLC owner?[…]

California Flag

California Supreme Court Ruling will limit Gig Economy in the state

The California Supreme Court has issued a new ruling that will severely restrict the gig economy in the state. The growth of gig jobs is based on workers being classified as independent contractors, who are not subject to employment taxes, employee benefits or worker’s comp being paid by the company hiring them. Amounts paid to Read more about California Supreme Court Ruling will limit Gig Economy in the state[…]

What is the difference between C Corp and S Corp

  S Corporations and C Corporations have a number of differences. From a tax perspective the key differences are: S Corporations Limited to one class of stock Limited to 100 shareholders All shareholders must be US individuals or certain trusts and estates Generally no income tax at the corporation level Taxable income flows through to Read more about What is the difference between C Corp and S Corp[…]

Foreign Partners US LLC

EIN or ITIN

Non-US individuals often want to know the fastest and easiest way to obtain an EIN or ITIN.  I find a lot of misunderstanding about the two numbers. First you need to understand that EIN and ITIN are similar numbers that serve different purposes and have different requirements. EIN-Employer Identification Number. An employer identification number (EIN) Read more about EIN or ITIN[…]

How are US taxes calculated dividends and gains for a non-resident investor

There are a few specifics you need to consider as you read the following answer for non-resident investors paying US tax. Dividends will generally be considered FDAP Income (Fixed, Determinable, Annual Periodic), taxed at a fixed rate for a non-resident. Effectively Connected Income (ECI) will be taxed differently than straight income from investments. Assuming you are just an Read more about How are US taxes calculated dividends and gains for a non-resident investor[…]