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Global Business Growth Club

Public • 1.5k • Free

4 contributions to Global Business Growth Club
File 1065 K-1 as FOREIGNUS?
Hi all. I had been studying James' videos and other sources for some time, and it was clear to me that in my case, with a multi-member LLC of non-tax paying foreign members, it was not necessary to obtain an ITIN for the K-1, but that the IRS would accept the term FOREIGNUS. It seems that as of this year, the IRS no longer accepts that term through electronic filing (E-File), and requires an ITIN. What can I do? The ITIN requirement is something I was not counting on, and would prefer not to have to do. I have read somewhere that I could do it by Paper, but I am also unclear if it is possible to do the 1065 by Paper, and if FOREIGNUS will be accepted that way. What advice can you give me? Many thanks
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New comment Mar 5
0 likes • Mar 4
Hi James, I saw it on TaxAct, and somewhere else I think. TaxAct no longer allows e-filing their forms without an ITIN, because, as they say "Per the IRS, the entry FOREIGNUS is no longer valid for electronic filing purposes." But I already understood that it can also be filed on Paper, so I will do it that way 👍
Good International Tax Lawyers in Spain 🇪🇸
Does anybody know good tax lawyers in Spain that would be able to advise on the local treatment of an US LLC income?
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New comment Feb 27
0 likes • Feb 27
Hi Martin, you should contact elufiscal.com, they are definitely the experts in tax savings for Spain
ITIN = Good for Life?
Good Day Everyone, I have 2 questions please: 1. Is my ITIN good for life? 2. Will I have to file some kind of annual taxes moving forward? Thanks in advance for your replies
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New comment Mar 19
3 likes • Feb 27
Hi, As I have been looking at this recently, I can give you some hint. Prior to 2015, the ITIN expired after 5 years. Now, it looks like it will be valid indefinitely, with the condition that it is used for any federal tax return at least once every 3 years. In other words, in December of every year it will be reviewed if the ITIN has been used in the previous 3 years, and if not it will be deactivated and will have to be renewed in order to use it. https://www.irs.gov/individuals/itin-expiration-faqs
START HERE
Welcome to the Global Business Growth Club community for entrepreneurs, investors and US business owners; where you get on-going support from me & my team to help you stay compliant with your US company, broaden your horizons about what is possible and use your company to make more money and pay less taxes. Step 1: Make a NEW post to Introduce yourself so we can get to know you + start chatting with the community! 𝐇𝐞𝐫𝐞'𝐬 𝐚 𝐭𝐞𝐦𝐩𝐥𝐚𝐭𝐞 𝐟𝐨𝐫 𝐢𝐝𝐞𝐚𝐬: What's your name/handle? Where are you from? What is your unique expertise (or are you working to specialize in ie ecom, services)? Biggest strength? What type of content do you love to share? What's your goal inside of GBG VIP? What are your social handles so we can follow you? Anything else you want to share? (After copying this, make a NEW post in the "Introduce Yourself" category on the Community Dashboard) Step 2: Watch this video (coming) to learn how GBG VIP + Skool work, how to unlock the courses and calendar & how to get the most out of the community. 𝐁𝐞𝐬𝐭 𝐩𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐭𝐲: Share your journey with us! The good & the bad. I'll be doing the same. Transparency & authenticity is a part of the success journey & is helpful to other members. Level up quickly to unlock new courses by commenting, posting your insights or questions in the Community Dashboard. Hit 'Like' or comment on posts you find helpful to let the poster know! Add a bio + profile photo. Positive vibez only!!! If you ever get stuck, feel overwhelmed, or are not sure what 'next step' to take, post about it the Community Dashboard so we can help you! Use the "category" dropdown to categorize your posts. 𝐆𝐫𝐨𝐮𝐩 𝐑𝐮𝐥𝐞𝐬: 1) No Self Promotion 2) No Selling in the DM's 3) No Spamming the Community Dashboard 4) Be nice :) 5) Be yourself :) Much love & so excited to work with you!
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New comment 13d ago
2 likes • Feb 25
Hi all! I'm a software engineer living in Portugal
1-4 of 4
César Escolano
2
14points to level up
@cesar-e-9503
Software developer with 25 years of experience, seeking to expand my services to the international market.

Active 6h ago
Joined Feb 25, 2024
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