Tax MISTAKES 76% Of Non-Resident LLC Owners Make (& How To Fix Them)

[@JamesBakerCPA]

Do you want to grow your business and pay no taxes without spending hours and hours learning how everything works on KZbin? Get A Free one-on-one 30-minute strategic Consultation - www.jamesbakercpa.com/schedule

[@cinebitsofficial]

thank you Mr Saul!

[@NicKarper]

great info! Thanks

[@dragonier8133]

Great vid!

[@A-ListGlimpse]

That’s what I am looking for 😎

[@juandavidatuesta3285]

Bro you the best

[@atx-casab]

Hello, i'am watching a lot of your videos . I've a question i can't find an answer for .. Sometimes you say for LLC foreign owners . ( 100% ownership) 5472 is mandatory but sometimes you say 5472 + 1020 . So i'am a little bit confused :D . A second small question .. i didn't find a video Where you talk on where to fill and Where to send back ? Thank you very much sir.

[@Yaoffcourse]

Dear James, Namaste & Hello, I have been fowling your videos on KZbin, Thank you for you great work, I have question :"James, I'm facing an issue with my Amazon Seller account. It was deactivated because my tax identity information didn't match IRS records. I initially intended to file a W-8BEN form as a non-U.S. entity, but the system is forcing me to file a W-9 form instead, as I'm unable to select the non-U.S. option and enter my EIN. The tax form is currently being validated, and I can't update it. Could you advise on the best approach to resolve this and reactivate my account?"

[@nikiinireland821]

How do we file the taxes for a partnership company in Wyoming for a non resident american. Is it online or should be sent to some other address?

[@holosbody]

Do you help filling form 5472?

[@rich2376]

Do you know a way for US residents who receive funds from an investment in Canada and pay a non resident tax in Canada, how they can recover that non resident tax from Canada? Thank you

[@okhan174]

Very Informative. I have a question! I have single member LLC, im non US resident (from Pakistan) and only sell on amazon thru FBA and 3PL. My company was registered last year april, 2023. Which forms do I need to file also what is the medium? can it be done online or needs to be done through mail or fax?

[@techiemaish]

Hi. Have you filed your forms? Which one you filed so far. Kindly provide some details.

[@JeccaTe]

if you are a SMLLC then you need to file a 5472 + 1120 proforma. There is a 25K penalty for not filing the 5472 and you can fax them both. As for the FBA and 3PL- if you are not in the US and all you do is manage the orders there is no US source income and you dont need to pay any taxes. HOwever, depending on the state and type of goods you sell you may be liable for state income tax.

[@dzhowto]

The question is where did you get the 76% from ?

[@UltimateAdventuresKE]

Well, my LLC was formed in June 2023.So do I wait till April 2024 to file taxes?

[@Skyleep]

Correct

[@UltimateAdventuresKE]

Which form do I use as foreigner?@@Skyleep

[@Skyleep]

@@UltimateAdventuresKE depends on the type of LLC, if Single Member than 1040 and 5472

[@UltimateAdventuresKE]

@@Skyleep It's a Single Member LLC, but 1040 I'll need an ITIN which I don't have

[@Skyleep]

@@UltimateAdventuresKE just add w7 form with it and IRS will issue you a temporary ITIN which can be used for tax filing purpose only