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What fillings do I have to keep in mind beside annual report filling and Form 5472 and Form 1120 are there any other fillings
Hey, it's almost 1 year since having my single member non resident LLC in Floride faced some challenges but this group was a great help. Since on December I will complete a whole year of me owning the LLC I wanted to ask what fillings do I have to keep in mind and where do I file them and how much would they cost and is there a service that does them all or not. Also what fillings do I have to keep in mind beside annual report filling and Form 5472 and Form 1120 are there any other fillings
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New comment 2d ago
0 likes • 2d
Hi @Ahmed Shugaa The additional documents will depend on what you are doing with your LLC in Florida: For example, If you have employees, file Forms 941 quarterly and 940 annually. If you are making payments to foreign persons you might need Forms 1042 and 1042-S. Engaged in US trade, consider Fform 1040-NR for effectively connected income. Also the annual report in Florida is due by May 1st.
how to change name on EIN?
There is a typo in my name not my business name in the EIN application. I can't file for a new EIN as it is already linked with different account. How can I fix the name typo?
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New comment 1d ago
0 likes • 4d
Hi @Taimur Ayaz I think you'll need to correct it directly with the IRS 🥴 It's a bit of a manual process, but it should get your name corrected without needing to apply for a new EIN. The best way would be to write a letter to the IRS and follow up after sending it.
How to learn about taxes and operating a business?
I'm wondering how can someone, anyone, learn about the requirements of operating a US business? All I could find were articles from different blogs that aren't related to IRS, that were either outdated, not full, unspecific, don't mention some details or something different. I tried using Claude or ChatGPT, but they are often wrong, don't mention crucial information or requirements making you think you got all of it, while you are missing crucial info, unlike articles you find on Google. How can you know that you need to file 5472 without someone first telling you this, or reading that in an article that is not related to IRS? Is there an IRS resource that lists all the requirements for operating a US business? What I mean, is that you wouldn't know about the requirement of filing 5472 with 1120 if you didn't specifically search for it. Same with 1040-NR, which isn't even listed anywhere in instructions for 5472 or 1120, so how would you know about it without someone first telling you about it? IRS forms instructions help, but still you need to know the forms you need to file, understand what specific phrasings imply, and more. Or specific conditions that make you required to file them (ex: US-sourced income, ECI, sales taxes), or how the due dates work (ex: due by April 15th, gotta file before that, does it mean I can file it in October of the previous year), how you can file them (ex: can only mail or fax) and so on?
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New comment 18h ago
1 like • 4d
Hi @Khron Cloud Thank you very much for your valuable questions, if you want we could have a call. I will explain everything you need to know before having your LLC in the US. Feel free to schedule your free call here: https://calendly.com/paola-zslz/30min 🙂
YouTube Adsense doesn't support my country, what to do?
Hi, everyone. I work in YouTube consulting niche, and wanted to start my own channels, but Adsense or YouTube Partner Program doesn't include my country in their lists of supported countries. Does anyone know if you can get eligible for them through a US LLC? And how would you do that? What mailing services YouTube can send your PIN to, as they don't accept PO addresses? Anyone has experience?
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New comment 4d ago
0 likes • 4d
Hey @Khron Cloud Of course! Having an LLC not only helps you get around the geographic limitations but also opens up more opportunities for your YouTube consulting business. If you need more detailed help on setting this up, feel free to reach out.
Issue with RelayFi international wire to Colombia
Does anyone have an account with RelayFi? Have you han any issues regarding international wires? I was using my account with prime subscription and no issues, but after one year of being a happy client, I requested an international wire to my country, but they retained the money for about 1 month with no explanations to me. After that period they accepted to return the money to my account, so the wire never completed. Fortunately, there wasn't a big amount. Now I stopped the subscription and don't rely on them to use their services again. Sorry for anyone to know this, if you were considering to open an account with RelayFi, but that's my sad story with them.
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New comment 4d ago
1 like • 4d
Hola Carlos! Tambien tengo RelayFi hace más de 8 meses y no he tenido ningun problema hasta el momento. Tuviste la oportunidad de hablar directamente con ellos sobre tu situación?
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Paola Moreno
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@paola-moreno-1702
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Active 15h ago
Joined Feb 2, 2024
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