That sounds right, but in my experience it's a good idea to get the W9 before you pay them anything. Vendors have a tendency not to get you that information when you need it, especially if you only use them periodically. I have found the best way to be sure you get the W9 is to have them submit i...
It depends on why you're going to IL. To be deductible the expense has to be ordinary and necessary to that trade or business. If there's a legitimate business reason then maybe, there are still limitations on how long you can live somewhere before it becomes your tax home. You're going to need t...
When I do this I use Elance.com or another similar marketplace. They handle all the logistics and payments through escrow. I've been doing this for years if you want to have a call about it. I have workers all over the world doing different pieces of my businesses and it's quite effective.
There can be. Debt is generally 'cheaper' than equity and also allows for flexibility in the event of default. Further, tying up equity precludes other investments.
You have a couple of choices and you need to get tax and legal advice before moving forward. The UK company could establish a subsidiary in the US. Profits earned there would flow up to the UK parent after local taxes etc. Assets transfered may create liabilities, talk to CPA. The other way is fo...
Your company is required to file Form 1099-MISC for each person you paid rents of at least $600 during the year. There are, however, certain exceptions where some payments do not have to be reported on Form 1099-MISC. Generally, any payments made to a C corporation, S corporation, or an LLC tre...
If you are conducting business then definitely open a business bank account for that. The primary reason is simply to have a separation of concerns. It's a huge hassle to have to have sort through a personal bank account to find all your business items when you need any kind of financial report...
Delaware C-Corp I usually Delaware is the best choice for any startup looking for fundraising with a US focus. However, if you are a remote and global team, an overseas or foreign corporation or US tax purposes might make sense. You'd have to talk to an advisor who can dive into your situatio...
Hi! Congratulations on your impending US expansion! I'd love to provide a perspective if I may. I'm a UK citizen, SaaS expert, now living in the Bay Area. I'm also a member of the UK Government's new GBx initiative which is specifically designed to help provide support to UK companies expanding i...
If you're a U.S. citizen or resident alien, the laws on income, estate, gift tax returns, and paying estimated taxes are generally similar whether you're in the United States or abroad. Income you receive anywhere in the world is subject to US income tax regardless of where you live. When to app...