Delaware 1 person LLC taxes

[neweraoffshore]

@Martin Everson really, this is no joke. Of course not from highly criminal activities, but for tax evaded money from legit businesses they surely do. They don't ask any questions on big transactions, they don't want invoices, nothing. I am doing this for 8 years now and never had a serious problem. The only difficulty is to get a bank account, but this is intended by the banks themselves because they want to make sure they don't have customers with illegal businesses and therefore blacklist the common nominees and registration addresses. But if you have your bank account you are set.
But I think we have a little different backgrounds. I am from Europe and do businesses mostly in Europe, so as i look on your profile pictures you look more eastern. We both know that the West and East (sadly) always have a little tension. That's why I think you don't have a good time with US companies. I know that transactions from Eastern countries to the USA are not so easy and the USA don't want eastern company owner so much. I had a hard time too when i wanted to make a transfer from Dubai to one of my US companies. But i can tell you, for european people the USA is a really good offshore place. Because for us every transaction to the old famous offshore jurisdiction gets flagged and invoices are not tax deductible when it comes to an Audit. In Europe the US is well accepted.

 

[Martin Everson]

I see your point. However I tell people to avoid the US at all costs as yu never know what the chosen one will do next

But I think we have a little different backgrounds. I am from Europe and do businesses mostly in Europe, so as i look on your profile pictures you look more eastern.

I am from Bahamas but spent a lot of time in Europe. I have zero connection with Middle East other than the smirking oppressive Crown Prince dictator (MBS) I use in my avatar for dry humor .

 

[Hawkeye100]

Hello , I have a few question about Delaware 1 person LLC taxes.

I've heard and read everywhere that non resident who dont own anything neither as make money in the us shouldn't pay any American taxe , is it true ?

I'll be mostly based in Spain, but barelly never in the same country for more than a couple month , my customer will be European and my provider too.

Thanks for your time and help

US taxes are only for US business.

 

[BTCNG]

if just looked at the single member protection, then Wyoming is the better choice. Because in Florida you need multi members.
If you can get a bank account for your Wyoming company (in the USA!!) then you will have lots of fun with your Wyoming company. But since now I don't know any non-US Citizen who achieved this in Wyoming.

@fshore yes, you are right, checked with my accountant guy. You also need to file 1040NR along with some minor fillings, however there can be used estimates and it is almost impossible to be fined for having wrong estimates. They only want to see that you are not doing business in the US, that's all. They won't check an offshore company where they can't get tax from, so every audit would be a loss. The accounting laws in Florida make it easy to book almost everything without bills/invoices so normally a good offshore provider does this accounting tricks for you and you don't have to care about anything and don't need to collect invoices and bills. Sorry for my wrong text I hereby change my "no accounting" answer to "no real accounting needed, because the IRS doesn't want to see bills/invoices"

@Martin Everson form 5472 is only dangerous if no nominee is used. That always should be rule no.1 to use a nominee

Can you suggest any relaiable accounting firm in Florida that can establish for us the LLC, assist in opening a bank account and handle all the tax stuff for a Florida LLC?

 

[neweraoffshore]

@BTCNG yes. Difficult to answer in my situation. To keep things fair here is the diplomatic answer: Look at the advertisers in this forum, I guess they are all good and can answer your question

 

[iloveyouguys]

@Martin Everson form 5472 is only dangerous if no nominee is used. That always should be rule no.1 to use a nominee


Could you explain what nominee is, in relevance to 5472?

 

[Martin Everson]

Could you explain what nominee is, in relevance to 5472?

No

 

[iloveyouguys]

@fshore yes, you are right, checked with my accountant guy. You also need to file 1040NR along with some minor fillings, however there can be used estimates and it is almost impossible to be fined for having wrong estimates. They only want to see that you are not doing business in the US, that's all. They won't check an offshore company where they can't get tax from, so every audit would be a loss. The accounting laws in Florida make it easy to book almost everything without bills/invoices so normally a good offshore provider does this accounting tricks for you and you don't have to care about anything and don't need to collect invoices and bills. Sorry for my wrong text I hereby change my "no accounting" answer to "no real accounting needed, because the IRS doesn't want to see bills/invoices"

@Martin Everson form 5472 is only dangerous if no nominee is used. That always should be rule no.1 to use a nominee

Could you explain why form 5472 is dangerous if no nominee is used?

No

My disappointment is immeasurable and my day is ruined Sorry I messed up the quotation and asked you, instead of @neweraoffshore

 

[ivan1911]

form 5472 is only dangerous if no nominee is used. That always should be rule no.1 to use a nominee

I am also interested in this , shouldn't a real UBO be on the form ?
nominee is to keep your name out of public register , not much more..

I don't think it's even legal to use a nominee that will act as UBO.. correct me if i'm wrong tho...

 

[iloveyouguys]

I am also interested in this , shouldn't a real UBO be on the form ?
nominee is to keep your name out of public register , not much more..

I don't think it's even legal to use a nominee that will act as UBO.. correct me if i'm wrong tho...

You are correct. @neweraoffshore was wrong.

 

[Clip]

You are correct. @neweraoffshore was wrong.

Why ilegal to have the UBO as nominee?

 

[ivan1911]

Why ilegal to have the UBO as nominee?

Bank account should always be owned by the real UBO and the ' real ' last beneficiary . That's the law at least here in Croatia .. not sure about the rest of the world.. but logically if you have UBO someone other then you then that person is liable for tax , can take your money any time they wish etc..

 

[Clip]

Bank account should always be owned by the real UBO and the ' real ' last beneficiary . That's the law at least here in Croatia .. not sure about the rest of the world.. but logically if you have UBO someone other then you then that person is liable for tax , can take your money any time they wish etc..

The nominee can be someone living in a tax haven, I don't see any problem with that. Nominees can have a private contract with the director to promise to don't fire him or taking money from the company

 

[JohnLocke]

I don't think it's even legal to use a nominee that will act as UBO.. correct me if i'm wrong tho...

No it is not legal. It is exact what mossack fonseca offered their clients and which is considered highly illegal!

 

[Deepbarrels]

Just to report back i found a big problem with merchant processing that anybody involved with US LLC's needs to be aware.

As they say a picture is worth a 1000 words

In my case i need to start from scratch and discard US LLC's

Did you solve your issue? I'm in the same boat

They only want to see that you are not doing business in the US, that's all. They won't check an offshore company where they can't get tax from, so every audit would be a loss.

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We're 2 non- US resident thinking of doing a LLC for processing payments. Florida would be better than Wyoming ? What if 80% of our clients are from the U.S? Does that make the LLC liable for taxes?