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Setting up an LLC as a Foreign Entity

Looking to start an LLC as a foreigner? Setting up an LLC as a foreign-owned entity is tricky when you don’t have a social security number. Get ahead in the business game and apply as a C Corporation or LLC to receive a U.S. tax ID or ITIN without a social security...

Advantages of an LLC in the US as a foreigner

View the transcript. Is FIRPTA in the way of your gross proceeds from a real estate sale? The US withholds 15% of the gross proceeds of the sale of a foreign-owned property. It’s possible the foreign seller could receive all proceeds back once filed appropriately....

The biggest misconceptions with New York City Residency Tax

View the transcript. New York State brings in over a billion dollars every year from residency income tax audits. Many NY State residents believe they can get away with avoiding the NYS income taxes. Residents fail to realize the government has access to all credit...

What is FIRPTA | Real Estate Foreign Taxes

View the transcript FIRPTA or the Foreign Investment Real Property Tax Act allows the US to withhold 15% of the gross proceeds of the sale of a foreign sellers’ real estate property. The US requires a foreign seller to file the appropriate taxes in order to receive...

Can I got to Jail for owing back taxes

View the transcript Are your back taxes piling up? If you owe back taxes you could be looking at jail time. For a city or state tax problem it’s rare to serve jail time. However, the state and city will settle your debt by seizing all assets. If you owe a large amount...

How is residency determined

View the transcript. Did you spend more than 183 days in New York City last year? Residency is determined by where your primary belongings are, mail is sent to, and where your kids are registered in school. If you have a second home that is located in NYC, it can be...

What is New York Residency Tax and how is it determined

View the transcript Are you paying the correct amount of income tax in New York? If you own a home in New York, but your primary residence is located in another state or country, you may need to look out for a New York residency tax audit. Even if you work in the same...

Starting an LLC as a Foreigner and FIRPTA

View the transcript Setting up an LLC as a foreigner has numerous factors to consider when it comes to filing taxes properly. Depending on your income whether it’s real estate or self-employed, a foreigner is subject to tax treaties. Tax treaties are beneficial for a...

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