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...
Non-US Resident Taxation
Non-US Resident Taxation
The obligation to pay taxes in the U.S. is not exclusive to the U.S. citizens. If you fulfill certain criteria, you, as a non-U.S. citizen, might be well liable to pay taxes and to file tax returns. Depending on your residency status or how much time you spend in the U.S., you should ensure whether you must fulfill these obligations.
If you are a;
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FORM 5472
FORM 5472
If
your U.S. corporation is owned significantly by non-U.S. persons and also
involves with foreign related parties, you would want to miss file Form 5472.
Although not an actual tax return, Form 5472 is an informational form to be
submitted to the Internal Revenue Service (“IRS”) annually for the U.S. companies with foregoing conditions.
First,
depending on certain...
Form 1040NR
Form 1040NR
For non-U.S. resident business owners and partners who in fact run a business in the U.S., taxation might raise as 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. It is again worth noting that particularities, such as...
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...
US Tax Return For Amazon Sellers
Key Points About Filing Taxes for Amazon Sellers
Are you Non-US Resident and doing business with Amazon? Or, Do you do dropshipping?
Are you wondering if you need to report your earnings from Amazon to the IRS? Here you might find answers to some of your questions.
The 1099-K Form
With this form, you provide the IRS with monthly and annual gross sales information, including shipping fees and...
What is a Franchise Tax?
What is a Franchise Tax?
Franchise Tax is merely the cost of having a business in Delaware. It is a necessary tax for the companies established in Delaware. It has nothing to do with the actions or the income of your business; it is only required to keep your business operating.
When to pay?
It depends on the type of business.
For corporate businesses, the deadline is the 1st of March...
Tax Return Guide
Each business established in the U.S. must file annual Tax Return with the IRS. Regarding the needs and demand of our clients, we prepared an “IRS Form 1040 Filing Guide”.
Our guide only costs $50. Please feel free to contact us to get our “IRS Form-1040 Filing Guide”.
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You can choose one of our services to start your business in the US, and you can always contact us for further...