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Global Business Growth Club

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5 contributions to Global Business Growth Club
ITIN Filing obligations
Will I have to file a 1040-NR if I’ve earned income through my llc through remote contracts for services ( non-ECI income)?
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New comment Oct 18
How does the IRS distinguish between ECI and non-ECI funds?
Forgive me if this is a bit of a naive question, but as far the IRS is concerned all they see is what's reported on tax returns, so how do they actually tell/conclude that the funds being reported on the return is non-ECI and not taxable?
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New comment Oct 21
Mercury asking to verify LLC physical address.
Hi everyone, I'm opening a Mercury account for my LLC and after submitting all the documentation I just received an email asking for a utility bill or bank statement for my LLC (which I don't have at the moment). Does anyone have any tips on how to proceed in this case? UPDATE: I was approved after submitting a Wise bank statement with my LLC address.
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New comment Oct 11
Mercury asking to verify LLC physical address.
0 likes • Oct 10
@Lucas Oliveira Did the statements have any transactions?
How to prepare 1065 form
I have a couple of questions regarding the form 1065. I have a multi member LLC ( both members foreign) that strictly makes money off of remote services provided to clients through contracts that are performed remotely. My questions are: 1. I know that the revenue the company’s making isn’t considered ECI, so do I note down no/zero earnings on the form? 2. Are there any attachments I also have to submit? ( Any schedules) 3. Do I have to stamp anything at the top? ( like how they write/stamp “FOREIGN OWNER DRE” at the top of 1120s for single member llcs for example)
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New comment Oct 7
1040-NR
If I have an ITIN, am I required to report all my US Multi-Member LLC earnings on a 1040-NR every year? if so does that change my tax obligations ( considering I have no ECI)
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New comment Aug 28
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Peter A
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@peter-a-8210
Entrepeneur

Active 37d ago
Joined Jul 23, 2024
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