Incblog for Entrepreneurs

Covering entrepreneurship and business start up questions for non-residents and US citizens.

 

Jul 10 2023

IRS Regulations on Foreign-Owned Single-Member LLCs

by John Gordon | 20:07 GMT

Important Requirements US Foreign-Owned US LLCs Effective since January 1, 2017, Limited Liability Companies (LLCs) formed in any state of the United States or the District of Columbia, which are wholly owned by foreign persons and do not elect to be treated as corporations for tax purposes, are subject to certain IRS reporting requirements.  New […]

 

Aug 29 2013

LLCs or Corporations: Which Is Better For Non-Residents?

by John Gordon | 23:08 GMT

For a foreign national looking to set up a business in the US, the choices of business entity to use look very confusing. Most of the free information about US companies is designed for US residents, and does not take into account the needs of non-residents. In general, however …

 

Dec 29 2011

LLCs are for Lazy People

by John Gordon | 15:12 GMT

Don’t take this wrong; most people are lazy in some way while they focus on more important things like family, friends, TV, movies, tweeting, Facebooking, or even working on their business. Lazy people don’t like to keep minutes, hold meetings, and generally follow many formalities. Who can blame them? Limited Liability Companies (LLCs) are perfect for […]

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Apr 29 2010

What is the liability protection of an LLC? How do you maintain and protect it?

by John Gordon | 07:04 GMT

There is much literature praising the benefits of LLCs as a new business form for the small to medium-size business owner. LLCs are indeed an advantageous business model because, unlike corporations, profits and losses can pass directly through to the owner’s personal income tax return while the owner’s personal assets are shielded from liability. But this protection is not unlimited, and if the owners of an LLC do not take adequate precautions, they can find themselves facing a potential lawsuit without the benefit of having their personal assets protected from a judgment against the LLC.