A California married couple owns a out of state Wyoming LLC (partnership per EIN application). They also own a subsidiary LLC in California with WY LLC as member to be qualified as "doing business in California". Since the CA LLC is classified as disregarded. Can they classify their WY LLC as disregarded to simplify their tax filing (to avoid partnership, 1065 &K1)
Hey Thomas ! Very useful Video. I have a single member LLC in Wyoming as a non-resident Alien. My LLC was incorporated in June 2023 and I started actual operations in Jan 2024 as an Amazon FBA seller ; Could you let me know when I have to file for Federal taxes and which form I have to fill ? Will form 1120 be enough ? Do I have to file any other taxes apart from Federal tax filing ? Thanks in advance for your help !
Hey congratulations on your new business and thanks for tuning in! As for your specific questions on which forms you need to file as a non-resident Alien I am not sure, we do not give tax advice or do tax preparation. Here is a blog post I found on the topic, the information appears to be relevant, but again do your own due diligence to determine if it applies to your situation. onlinetaxman.com/foreign-owned-llc-taxation I think you should discuss the specifics of your situation with a CPA/Tax professional. This is not legal or tax advice. Thanks!
A California married couple owns a out of state Wyoming LLC (partnership per EIN application). They also own a subsidiary LLC in California with WY LLC as member to be qualified as "doing business in California". Since the CA LLC is classified as disregarded. Can they classify their WY LLC as disregarded to simplify their tax filing (to avoid partnership, 1065 &K1)
Superb!
Hey Thomas ! Very useful Video. I have a single member LLC in Wyoming as a non-resident Alien. My LLC was incorporated in June 2023 and I started actual operations in Jan 2024 as an Amazon FBA seller ; Could you let me know when I have to file for Federal taxes and which form I have to fill ? Will form 1120 be enough ? Do I have to file any other taxes apart from Federal tax filing ? Thanks in advance for your help !
Hey congratulations on your new business and thanks for tuning in! As for your specific questions on which forms you need to file as a non-resident Alien I am not sure, we do not give tax advice or do tax preparation. Here is a blog post I found on the topic, the information appears to be relevant, but again do your own due diligence to determine if it applies to your situation. onlinetaxman.com/foreign-owned-llc-taxation I think you should discuss the specifics of your situation with a CPA/Tax professional. This is not legal or tax advice. Thanks!
How to fill w9 form I’m single member llc but I don’t see any option on w9 form new version of 2024 please help
I have the exact same question 😵💫 The 2024 w9 doesn’t have that option so I’m not sure how to fill it out