Hey James, thank you for this video it's super helpful! I was wondering, if I'm a Canadian that owns a US LLC, that wants to switch from SMLLC to a MMLLC, should I check the boxes that say foreign entity in part 6, or should I still check off the domestic entity lines instead?
can we connect ? I am also Canadian and have few questions. It would be nice to connect with you and share info with each other. when i leave contact info, the message gets deleted on YT
Hi james, sorry to bother you in the comment section, i am trying to get an answer for filling out the form 8832. The company is based in the UK completely and doing a one-off work in the US. The company has 2 directors. Does this company need to fill out the form 8832?
saw title which I really need, turns out 90% of the video is showing us the complete opposite of the title. Is it only form 8832 to swap from single to multi???
Thank you for the helpful video James. Quick question, if i open a real bank account like chase bank account in USA using my family member as manager there, will I have to pay taxes on my non resident llc? I live in Pakistan, thanks in advance!
Hi, Legalzoom screwed up my filing and put me as a single member instead of a partnership, which led me here. The business was set up as well as a business bank account last December and has already had expenses incurred so I think I need to keep my Ein. Based on your video, it seems like Option 2 would be a good fit, correct? I wanted to have it taxed as a s-corp, how do I specify this? Can I add it in the letter?
It is sad because you have informative videos BUT your staff just don't reply to emails. So now, I am looking to open an LLC in the US with another company. By the way, we talked together on the phone already, you had my business. Not anymore, sadly.
Thanks for the feedback. It is a busy time and we have to respond to the clients first. Thanks for enjoying the videos and we will be here if you need help in the future. Best of luck to you
What about IRS Revenue Ruling 99-5 to switch between SMLLC to MMLLC and vise versa, just to submit in the year end tax filing forms within periods ?
This ruling is very specific and not relevant in most cases
Hey James, thank you for this video it's super helpful! I was wondering, if I'm a Canadian that owns a US LLC, that wants to switch from SMLLC to a MMLLC, should I check the boxes that say foreign entity in part 6, or should I still check off the domestic entity lines instead?
can we connect ? I am also Canadian and have few questions. It would be nice to connect with you and share info with each other. when i leave contact info, the message gets deleted on YT
Question can you make a video about multi member with foreign entity? Thank
It's the same stuff but with an entity instead of a person
Hi james, sorry to bother you in the comment section, i am trying to get an answer for filling out the form 8832. The company is based in the UK completely and doing a one-off work in the US. The company has 2 directors. Does this company need to fill out the form 8832?
I cant tell with this info what would be required
where is your form for operation agreement
saw title which I really need, turns out 90% of the video is showing us the complete opposite of the title. Is it only form 8832 to swap from single to multi???
excelente video. thank you
What if I want to change from SMLLC to MMLLC and the entity was classified as S-Corp for tax purposes. Do I get a new EIN and then file another 2553?
Thank you for the helpful video James. Quick question, if i open a real bank account like chase bank account in USA using my family member as manager there, will I have to pay taxes on my non resident llc? I live in Pakistan, thanks in advance!
You cannot have anyone making decision for you in the US. There is a UA-cam short video about this. I think is 3 things not to do with your LLC.
Well this isn't a problem. I understand it is going to be one of the only ways to get an account open for.yoy
@@JamesBakerCPA thank you for the answer. So my llc will be taxed if I open a US bank using my family member as manager, right?
Hi, Legalzoom screwed up my filing and put me as a single member instead of a partnership, which led me here.
The business was set up as well as a business bank account last December and has already had expenses incurred so I think I need to keep my Ein.
Based on your video, it seems like Option 2 would be a good fit, correct?
I wanted to have it taxed as a s-corp, how do I specify this? Can I add it in the letter?
to pay taxes as an Scorp first you need to be a US person, then if that's true, you need to file Form 2553
It is sad because you have informative videos BUT your staff just don't reply to emails. So now, I am looking to open an LLC in the US with another company. By the way, we talked together on the phone already, you had my business. Not anymore, sadly.
Thanks for the feedback. It is a busy time and we have to respond to the clients first.
Thanks for enjoying the videos and we will be here if you need help in the future. Best of luck to you
Jan To April is tax Season.
this is not a step by step video.
Well i guess not in the traditional sense. But I do go over the different options and how to do them