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five benefits of incorporating an LLC in the United States of America over the last two years there have been a lot of changes in your offshore world compliance regulations have become higher economic substance regulations have reintroduced and many restrictions it's really difficult now to get bank accounts even for legit business operations so many people have started to move from their offshore business into their own - like other jurisdictions and the United States over the last year has really emerged as a prime location for online entrepreneurs all over the world here are the benefits for you of incorporating a LLC in United States America if you're not a US citizen a limited liability company is a so-called pass-through entity or tax transparent vehicle that means the LLC itself is not being taxed in the United States but the tax obligations are being passed through shooty respective owners if you as a non-us citizen and a non-resident a so-called non-resident alien incorporate a LLC United States and then have a personal residency either in a country it charges very little tax or a country that has a territorial basic sation system that doesn't change any tax on foreign earned income or your perpetual traveler and you're a resident of nowhere then you can legally operate a business that can get all the payment processing you ever want stripe papal Braintree you can get good banking with solid banks you get banking with all sorts of neo bangs that transferwise or mercury and you can make that money completely tax-free because the United States doesn't text you as long as you don't have economic substance in the United States meaning employees and offer or something like that any any kind of assets and your personal taxes your personal tax residency also doesn't charge you any type of personal income tax so now you have the best of both worlds you have a rigorous diction with a very high reputation solid banking you can give your customers invoices that they have no issues deducting in their local high tech jurisdictions but at the same time your personal tax load is zero this is probably one of the best set ups right now it's very cost effective to set up it's very cost effective to maintain it's very easy to set up you don't require a lot of documentation you don't require utility bills and this is probably a setup that many of you can really put to a great effect if you need further in term a information about how exactly to set this up where do you go what what company to use to set this up how to get all of the documents in order then send me a send me an email to the email address below this video and I can help you to guide you through this process this is Chris from offshore secrets I hope you liked this video please subscribe and I see you on the next video
Thanks for your comment Chiquita Felberbaum, have a nice day.
- Rosalba Farrauto, Staff Member
hey everybody john dylan here from equinox home financing today i wanted to talk to you about calculating or understanding how income works if you're self-employed when trying to buy or finance a home there's all different kinds of you know situations out there for people to be self-employed so we'll start from like the different tiers as far as simplicity to complexity goes you know if you're a 1099 contractor for example and you're just a contractor independent you're self-employed because you control your hours your time could be commission based it could be service based whatever the the reason is 1099 contractors are self-employed you get a 1099 at the end of the year and then you file that on your 1040 tax returns on the form called schedule c it's your business profit and loss that would be like the easiest and most simple way to go to file taxes next step up would be having a sole proprietorship so that means that you're self-employed you may have a restaurant or a retail store or a service that you do you don't have a corporation and you're not 1089 you know you go to the county recorder's office you file what's called a fictitious business name and you get a dba dba stands for doing business as don't have a federal tax id number instead everything's tied to you personally under your social security number and in this instance whatever you generate an income you would also file on your schedule c tax return okay um same as a 1099 contractor same form on the 1040. the next and last phase is typically a llc or a corporation this gets a little bit more complex so i want to take my time to explain this number one if you have a corporation there's a couple of different ways to pay owners of the company number one if a corporation w2'd the owner as an employee you would get payroll checks consistently and w2s at the end of the year that's one form of income okay the second is every time you pay yourself non-w-2 that's called an owner's draw that means you're paying yourself money and at the end of the year the corporation would issue you a k-1 form if you got w-2 from your corporation and you took draws you now have two forms of income which would both then translate to the 1040 when you go file at the end of the year both of these forms you know well the k1 would get filed on your schedule e tax return before write-offs or whatnot these are the forms that we would be using so if you're a 1099 contractor or a sole proprietor and when you're looking to finance a mortgage or buy a home we're just looking for two years of tax returns okay 1040 tax returns that's all you need you know we don't need the 1099s we don't need to verify anything else because these are filed with the irs and you know that's what we go off of if you have a corporation we will need all your corporate tax returns for two years and two years of your 1040s for us to be able to analyze what your exact self-employed income is if you have any other questions about how to calculate that or if you need help calculating what your income should or will be give us a call today we'll be glad to help you out thank you subscribe to our channel below so you can find out more about home financing
Thanks Antoine your participation is very much appreciated
- Rosalba Farrauto
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I've studied file dynamics at Slippery Rock University of Pennsylvania in Slippery Rock and I am an expert in italian history. I usually feel surprised. My previous job was water pollution control inspector I held this position for 4 years, I love talking about transit map collecting and air soft. Huge fan of Liv Tyler I practice mixed martial arts and collect toys.
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