Form 1040NR Guide: Income Tax Return For Non-Resident
Form 1040NR Guide: Income Tax Return For Non-Resident
As a non-resident of the United States, you are still required to file a U.S. tax return if you have an income from sources in the U.S. This is generally the case for those who are self-employed, own a company and have worked as an independent contractor in the U.S., as...
How and When Should I apply for ITIN? (Updated) ?
If you own a U.S based business, have U.S. source income, or have a rental income, you might need to get ITIN to make tax filing, get your refund, and open a U.S. bank account.
As for the identification of persons, there are two different sets of identification numbers in the U.S. The first one is the Social Security Number which can be obtained only if the person is a U.S citizen or a Green...
When should I apply for EIN?
If you are an ambitious entrepeneur and wish to expand your business to the United States, it is just the time! Forming a company in the U.S. might be a great opportunity as it is one of the largest markets the world. However, forming a company is only one of the first steps in this endavaour. Following the incorporation of a company, one of the first things to do is probably to obtain a...
What is SSN? Can I get one?
Social Security Number, known also as SSN, is a nine-digit government-issued number for U.S. citizens and permanent residents (exceptions apply). The number is issued to an individual by a federal agency, the Social Security Administration.
Originally, SSN was created to track individuals for social security reasons. However, over time, it has basically become the national identification...
Tax Guide 101
If you have a Delaware LLC, Corp or Non-Profit Organization, you have to file a tax return correctly and on time. We know that US Non-Resident Tax return can be little complicated if you have no idea how to file 1040NR, 1120, 5472 and other IRS forms.
You have to file even if you do not have a company, but you engaged in a trade or business in the United States during the...
Overview on E Visa Classification
E-1 (Treaty Trader) and E-2 (Treaty Investor) visas are somewhat the most popular for those who is interested in conducting business in the U.S. We will try to set out the main features for these visa types in this article.
First of all, the E-1 ‘treaty trader’ visa and the E-2 ‘treaty investor’ visa are for qualified persons who respectively carry out trade and invest in the U.S....
I am not sure whether do I need SSN, EIN or ITIN? What should I do?
SSN: A Social Security Number or SSN is the most common identifier for personal identification and tax purposes. To be precise, it is used to track individuals for social security reasons and also can be used as a national identification number for tax purposes. SSN is also used for opening a bank account, for applying personal credit, insurance, medical coverage and so on.
EIN: In the...
How do I get taxed as a non-US resident?
For non-U.S. resident business owners who run a business in the U.S., taxation might pose a major question. Since taxation is one of many indicators whether the investment in the U.S. is worthwhile, it is essential to understand how the U.S. taxation system approaches non-resident aliens.
In the U.S., citizens are not the only ones that have been paying taxes. In addition to the citizens,...
Do I really need an EIN for Tax reductions?
Following the incorporation of a company, one of the first things to do is probably to obtain a federal tax ID from the Internal Revenue Services (IRS). This federal tax ID for your company, known also as EIN (Employer Identification Number). EIN is a unique, nine-digit number that is assigned to every operating business in the US for the purpose of identification and taxes. In a way, EIN is...
Do I need to file a tax return?
First of all, as an individual, you might not need to file a federal income tax return if your income is below a certain amount. However, you need to file a tax return to claim a refundable tax credit or a refund for withheld income tax. You can visit IRS website and find out if you need to file a tax return or not.
As for the above-mentioned “exception”, if the net profit is below $400...
Q&A: Can I be exempt from applying for ITIN?
There are two types of tax identification numbers in the United States for individuals. The first is the Social Security Number which can be obtained only if the person is a US citizen, has a Green Card or has a visa that provides him/her with a temporary residency in the US. The other number is Individual Tax Identification Number.
Individual Tax Identification Number, which is...
Recent Update for EIN and ITIN Processing ETA
We kindly would like to remind you that due to COVID-19, the EIN procedure takes 1 – 6 weeks and the ITIN procedure takes 6 – 14 weeks roughly. It is delayed because of the IRS.
Thank you for your understanding on the matter. Please do not hesitate to contact us if you have any questions.
Who Can Incorporate in Delaware?
Who can Incorporate in Delaware?
By now, Delaware is the best place to set up a limited liability company (LLC) for most entrepreneurs.
If you
have already done a quick search online, you may know that Delaware offers
numerous benefits and protections with its strong corporate law structure.
The
truth is that Delaware is known as the “Incorporation State’ for both small...
Where is My Business Located?
Where is My Business Located?
As a Delaware Registered Agent, you cannot use our mailing address as the physical address of your company.
At
this point, we will need a mailing address to know where to send the
correspondence you receive from the Delaware State Secretary on behalf of your
company. If we receive process services for your company, we also need a
physical address if it...
What is a Certificate of Incumbency?
A Certificate of Incumbency is a document that you prepare as a secretary of your corporation. A Certificate of Incumbency is often used to prove that a particular individual is authorized to enact legally binding transactions on behalf of a company. According to the laws of Delaware, you do not have to write down all the information about your company on a certificate of formation....
What Happens If I Do Not Pay My Franchise Tax?
In Delaware, Corporations are required to file an Annual Report and pay the Franchise Tax that is due on or before March 1 each year. If the Annual Report and taxes are not filed and paid by March 1 the following year, the corporation will be declared inoperative and void. In the next calendar year, you have to file what’s called a franchise tax, or an annual report from the previous...
Requirements for a Corporate Seal
What are the requirements for a corporate seal?
The
corporate seal is also known as a company seal. It is an official tool used by
a company to stamp or emboss important documents of your company to show that
your company has been approved and certified by the Board of Directors.
The
company seal includes the name of the company, the year of establishment and
the state where the...
Real Estate Investment with a Delaware LLC
Investing in real estate, particularly in a high demand region, can be a profitable business. While not every investment yield returns, if you can afford the upfront cost of buying a property, it can be lucrative for both short and long-term investment strategies.
Is
Delaware the Best Place for a Real Estate Investment Company?
The most popular options are Delaware, Wyoming, and...