I am a U.S. citizen residing abroad and interested in becoming an independent travel agent for side income. I plan to set up as a U.S. sole proprietor or LLC, maintaining U.S. ties but spending less than 30 days a year there. Most of my clients will be from the U.S. Is this possible, and how should I file my taxes? Would I claim the foreign tax credit/earned income exemption and also file Schedule C for the sole proprietorship/LLC? Additionally, if I earn at least $5000 in commissions within a year, and the provider takes 30% of all commissions but offers to pay 100% up front and then bill for their share, would this increase my tax burden?

March 16th, 2024

I have an LLC for my painting company in Montana, am an owner-operator with no employees, and have an EIN. Do I need workers' compensation insurance or an independent contractor's license?

November 3rd, 2023

Can I deduct the value of my time spent writing unpaid articles for a local newspaper to promote my business, considering it as advertising?

February 25th, 2023

I held an F1 visa as a non-resident alien during 2016 and until June 2017, and submitted an Adjustment of Status to Permanent Resident application on 06/10/2017. I received the EAD card on 09/28/2017 and began working using the EAD card on 10/10/2017. My green card was approved on 12/15/2017. I want to file a dual-status tax return for tax year 2017, but I don't know which period of 2017 I could be treated as a non-resident. Should it be until the day I submitted the PR application, or the day I received the EAD card, or the day I used the EAD card, or the day my green card was approved?

November 21st, 2023

Can a mother claim her 19-year-old son as a dependent for head of household status if he is a full-time college student with a gross income of $8,483?

July 13th, 2024