How to Fill Out IRS Form 1040-NR for 2021. Step-by-Step Guide
The Form 1040-NR is filed by nonresidents of the U.S. that have U.S. source income subject to taxation. This article covers an example Form 1040-NR filing for the 2021 tax year.
Amazon and the Single Member LLC with Non-US Owners
Many non-U.S. entrepreneurs are forming U.S. LLCs to open an Amazon store. The single member LLC with non-U.S. ownership can be a challenge for many business owners.
Non-US Owner of a Delaware Corporation – What Filings are Required?
Delaware corporations have generally no restrictions on who can be a shareholder. In the event a nonresident owns stock in a Delaware corporation, the corporation has some additional filing requirements which are outlined in this article and video.
Dual US Citizen – Do You Complete Form W-9 or W-8BEN?
U.S. citizens are U.S. tax residents regardless of where they live and work. This applies to persons with dual citizenship with other countries. U.S. citizens need to be careful which withholding certificate they complete when requested by banks, custodians, and other payors.
Nonresident Sale of US Corporate Stocks – No Capital Gains Taxes
Nonresident investors in U.S. assets are generally liable for U.S. income taxes on investment income. However, there is an exclusion for capital gains on the sale of corporate stocks.
Do I Need an ITIN to Open a US Company?
Many non-U.S. persons open U.S. entities to operate their business. There are generally no restrictions on who can open a U.S. entity, and nonresidents generally do not need an ITIN in order to do so.
Does a US Bank Account Make You Liable for US Income Taxes?
Many nonresidents of the United States often open bank accounts with U.S. based financial institutions. A common question and concern is what impact, if any, does that have on the individual's US tax obligations. This article covers the basics of nonresident taxation and whether US bank accounts create any tax liability.
Do I Need to File Form 1040-NR as a Nonresident?
A nonresident non-citizen of the USA may be required to file a Form 1040-NR if they have U.S. source income. This article and video discuss those potential filing obligations.
How to Complete IRS Form W-8ECI for Effectively Connected Income (ECI)
The Form W-8ECI is a type of withholding certificate used by foreign persons to disclose their income is effectively connected with a U.S. trade or business. This article and video tutorial cover the basics of the Form W-8ECI.