I will prepare foreign owned business tax return

I will prepare foreign owned business tax return

If you have a single-member LLC, the LLC is treated as a disregarded entity for tax purposes unless a corporate election is made. That means if you are a nonresident alien individual, you report the business or rental activity of the LLC on Form 1040NR. There is only a single level of taxation.

And then the LLC must file Form 5472 together with a Pro-forma Form 1120 along with 1040NR.

The new tax law substantially increased the penalties for not filing or incomplete filing from $10,000 to $25,000 per year per form. We will prepare and file for your LLC:

Form 1040NR

Form 1120 (Pro-forma)

Form 5472

If you do not have ITIN (Individual Taxpayer Identification Number) we can also set up the video interview to process your ITIN application (There will be additional charges).

If your LLC is owned by you and one or more partners, the default classification for tax purposes is a partnership.You must file Form 1065 (U.S. Return of Partnership Income) to report the income and expenses of the partnership, then report your share of partnership income and expenses on your Form 1040NR.

===Thig Gig only covers preparation of form 1040NR and Form 1120 and 5472===