Recent content by LoveMyLife

US tax resident IS REQUIRED to withhold taxes when making payments to non resident.. This is how withholding tax works. Withholding of tax is not done in case if person who will receive a payment is resident in a country which has a DTT with USA. In that case, withholdin tax is applied on DTT...

It can be real mistake. Many CPAs just believe that just having customers in USA is not making profit taxable in the USA. Problem is, that law sets rules: If you are doing activity perpetualy, and if the most of your customers are in USA, company will be taxed in USA. So it is not about only...

Where will be your customers? Where will be your suppliers?

Yes. it is true. It is called withholding tax. IRS will examine if: 1. Consulting service was necessary for the company 2. Consulting service value was privovided in usual market price and conditions There has to be a direct tie between costs and income. So if services are provided just not...

I agree. Py is much slowlier that it was. But it does not take as long time as your friend experiences. The fastest in latin america are Peru and Ecuador, now. (In case if you have fulfilled all set conditions)

Forget Ukraine if you need to make a foreign currency transfers to a foreign countries. There is very low limit.. Obtain residence permit in Ukraine is easy. So it is not a problem in initiating a transfers. Problem is a limit for each day.

The easiest license condtitions for EMI license are in Kazakhstan. But company dooing business from Kazakhstan can have a problem with SEPA accounts and transfers. The easiest conditions for EMI license in SEPA zone has Czech republic. Banks there are willing to listen and cooperate in any...

So the answer is exact: Clients of the same lawyer are waiting years and years and years. In situation when others do not. He shall change a lawyer.

Just moving to another country for 183 days, withdraw a profits which would be taxable in a Spain in case of not doing it, and comming back next year is considered by spanish tax authorities as abuse of law. And you will be liable for income tax as well as all penalties and criminal prosecution...

None serious service provides will help you to form a structure for illegal activities. Having a company for illegal actiivities just dost not make any sense. If someone want to do illegal things, it can be done via black markets where no one cares about your identity or about having any...

Just "some kind of consulting" will be not accepted by IRS in case of inspection. And as you mentioned - you plan to invoice a US company by Serbian company. Serbia does not have DTT with USA. So every cinsulting fees will be taxed by 30 % withholding tax in the USA.

He shall hire some good lawyer. No case takes so long time in Paraguay. I am not sure, if your friend told you the exact truth about his situation..

Does he has a clean criminal record in country of his citizenship and previous residence? Based on my experience, it it takes so long, there has to be some problem. The usual naturalization time is 18 months after application is filled.

If your US LLC will be doing business in US, all profits will be passed through and you will be liable to have a US ITIN and pay a US personal income tax from all profit which is coinsidered to be a US sourced. Whereas Serbia does not have a DTT with USA, you will be liable for income tax in...

Using a HK company for dropshipping is non-sense. Accounting costs, auditing costs, administrative costs are so expensive, you have to dropship very expensive product with a huge margin to earn as much as you need to pay all the costs. Belize is cheap, but their banks are having problems with...