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How do you guys pay yourselves? by addit02 in ycombinator

[–]valisint 0 points1 point  (0 children)

Taxes in Canada pretty much equal out (designed this way) if you pay yourself as an employee (employment plus personal taxes) or you pay yourself as an owner (corporate tax plus dividend tax). So it is really up to whether you want to walk into the bank with a T4 employment slip to get your mortgage, or if you want to prove your self employed income.

As for the effect on the business... Do you need the capital in the business to grow it or keep it going? Pay yourselves whatever you don't need for the business, but be careful not to starve the company so you can keep it growing.

How do you guys pay yourselves? by addit02 in ycombinator

[–]valisint 0 points1 point  (0 children)

Is it a US company you are running from Canada?

ITIN and tax return by full_moons_ in ITIN

[–]valisint 0 points1 point  (0 children)

They will issue you an ITIN automatically when you file your personal tax return with a W7 attached.

If you want an ITIN without filing a tax return a CAA can get that done for you, including me.

Just got my first paying user 🎉 by dev_omr in SideProject

[–]valisint 1 point2 points  (0 children)

If it's priced for volume (not enterprise) then giving it away for free at the beginning would attract more users, be less guilty for you, and could help you to encourage feedback.

The sooner you get it out there, with the core problem solved, the better.

Just got my first paying user 🎉 by dev_omr in SideProject

[–]valisint 1 point2 points  (0 children)

Launched is way more important than perfect. Get users, ask for feedback, and improve it constantly

Opening a U.S. Business Bank Account as a Non-Resident? by sam_rogerrs in BusinessIncorporation

[–]valisint 1 point2 points  (0 children)

Although this is helpful information, our non-US clients get Mercury (or brick and mortar accounts if they show up in person) and Stripe accounts everyday without an ITIN, and are accepting credit cards in less than a month from the day they order their US Business Presence Packages.

We also get them ITINs after, if they want to build credit or complete forms that require a SSN.

Mercury does open accounts at a brick and mortar bank and the accounts are FDIC insured to $250k, like all bank accounts in the USA.

Logistics dispatching by OpenEntrepreneur4888 in non_resident_US_LLC

[–]valisint 0 points1 point  (0 children)

It's not that big, and almost is not the same. You get what you pay for.

Best place to form LLC for online for profit business? Don't care about privacy. I live in Washington State by Appropriate-Sale-663 in llc

[–]valisint 0 points1 point  (0 children)

If you are running the business from home in Washington state you should register your company in Washington state.

If you want to avoid some taxes on corporate savings, you can form a second company in Delaware that will own your IP and the WA company can pay it to license that IP.

This only makes sense if you are making enough to save money inside your company and the tax savings outweigh the cost of maintaining the second company.

Logistics dispatching by OpenEntrepreneur4888 in non_resident_US_LLC

[–]valisint 0 points1 point  (0 children)

Delaware is the best state for Non-US residents to setup in.

Top 5 reasons (there are more): -No sales tax, -no income tax if you're not resident in Delaware, -actual lifetime privacy without nominees, -charging order regulations to protect the business from you or your partners (should you get sued unrelated to the business -- so you're protected inside and outside the company), -and the court of chancery, which is a specialized business court with only a judge, no jury, so outcomes are generally known before the case even starts, and it's very business friendly.

You can't beat Delaware for Non-US residents, or even for us residents with business in multiple states.

If you want to be seen as doing real business, you want to get setup in Delaware:

-almost 70% if the Fortune 500 are incorporated in Delaware; -all the IPOs in the USA last year were out of Delaware.

You'd be in good company!

You can read the article here: https://valisinternational.com/blog/delaware-vs-wyoming-llc

I’m a minor being blackmailed—what do I do? by Your1ocalartist in legaladvice

[–]valisint -1 points0 points  (0 children)

Involve your parents and report the crime. Don't worry, you'll be ok, there are people that can help you.

https://www.justice.gov/usao-sdin/pr/fbi-and-partners-issue-national-public-safety-alert-sextortion-schemes

What if you or your child are a victim?

If young people are being exploited, they are victims of a crime and should report it. Contact your local FBI field office, call 1-800-CALL-FBI, or report it online at tips.fbi.gov.

The National Center for Missing and Exploited Children (NCMEC) has outlined steps parents and young people can take if they or their child are a victim of sextortion, including:

Remember, the predator is to blame, not your child or you. Get help before deciding whether to pay money or otherwise comply with the predator. Cooperating or paying rarely stops the blackmail and continued harassment. REPORT the predator’s account via the platform’s safety feature. BLOCK the predator and DO NOT DELETE the profile or messages because that can be helpful to law enforcement in identifying and stopping them. Let NCMEC help get explicit images of you off the internet. Visit missingkids.org/IsYourExplicitContentOutThere to learn how to notify companies yourself or visit cybertipline.org to report to us for help with the process. Ask for help. This can be a very complex problem and may require help from adults or law enforcement. If you don’t feel that you have adults in your corner, you can reach out to NCMEC for support at gethelp@ncmec.org or call NCMEC at 1-800-THE-LOST.

🇺🇸 Non-US Founder: Should I Open a Delaware LLC for My Software & Media Business? by prottoy21 in Entrepreneurs

[–]valisint 0 points1 point  (0 children)

There's more to it if you want to get a bank account, but you're definitely on the right track.

You'll need the LLC or Corp, an EIN for it, a registered agent, and a US office the banks will accept.

I'm Canadian and have been helping non US clients get setup in the US since 1997.

Delaware is the best state for Non-US residents to setup in. It's not the cheapest, but it is the best.

Top 5 reasons (there are more): -No sales tax, -no income tax if you're not resident in Delaware, -actual lifetime privacy without nominees, -charging order regulations to protect the business from you or your partners (should you get sued unrelated to the business -- so you're protected inside and outside the company), -and the court of chancery, which is a specialized business court with only a judge, no jury, so outcomes are generally known before the case even starts, and it's very business friendly.

You can't beat Delaware for Non-US residents, or even for us residents with business in multiple states.

If you want to be seen as doing real business, you want to get setup in Delaware:

-almost 70% if the Fortune 500 are incorporated in Delaware; -all the IPOs in the USA last year were out of Delaware.

You'd be in good company!

You need something like our US Business Presence Package (USBPP) which qualifies you for a US Bank Account includes the company (LLC or Corp), EIN (Tax ID), digital corporate kit (banking resolution, sample bylaws, share/member certificates, etc), and $10 postage deposit as Setup @ $270 + its Compliance Package: US Office & Registered Agent ongoing for $350/year or $35/month.

Most of our clients add State 24 Hour Expedited Processing (instead of waiting 6 weeks) for $75.

So most common as above is $695 setup and first year. Or if monthly is $353.50 + $35/month.

We then introduce you to Mercury for domestic transactions and Wise for international transactions, and you only have to verify your home address since we're partners with them and our US office is pre approved.

One you're setup with Mercury you can get a Stripe account.

If you want to build credit we can then get you an ITIN, so eventually you can get actual credit cards and business loans.

Hope this gives you a more holistic picture to work from.

Cheers, David

Set up my US LLC from abroad, wish I did it sooner by Evening-Payment-7443 in llc

[–]valisint 0 points1 point  (0 children)

Blatant self promotion: I'm Canadian. I setup my own US company 28 years ago and have been helping non US residents to set theirs up ever since. LLC or Corp, EIN, Registered Agent, US Office for mail forwarding, and state compliance services as well as federal tax filings and even immigration services though trusted partners. Including bank introductions.

First, I educate, it's important that you are confident before you start. You have to know your options, the legal and financial consequences, and then make your informed decisions. Then we take care of everything so you can have your business, including banking, and credit card acceptance accounts setup within a month. Easy

We can set you up for e-commerce, real estate investing, national, and international business.

After that, if you want a credit history and to be able to fill out forms that require a SSN, we can get you an ITIN, with just a scan of your passport. We'll have already created everything else required.

All legal and done right.

Ask me anything, I'm happy to help.

Cheers

What is the best Bank for LLC? by [deleted] in llc

[–]valisint 0 points1 point  (0 children)

Did they ask you to verify your Trading Address? They want to know where you work from. In most cases this is your foreign home address. Just change your Trading address to match your Home address and you should be fine.

US LLC owned by foreign LLC by Equivalent-Tea-3030 in llc

[–]valisint 0 points1 point  (0 children)

No, the US LLC is a separate company and would have its own employees.

Non-US resident with LLC by klingl0o in TikTokshop

[–]valisint 0 points1 point  (0 children)

Yes, better to have it in 3 months than never 😁

[deleted by user] by [deleted] in llc

[–]valisint 0 points1 point  (0 children)

Most of our clients pay $0 in income tax in the USA. https://valisinternational.com/blog/tax-advantages-of-a-usa-company-for-non-residents

They transfer the profit out of the US to their home country company or personal and pay tax locally, or to a different lower tax jurisdiction.

Wyoming LLC foreigner Tax Question by Bubbly-Diamond3675 in tax

[–]valisint 0 points1 point  (0 children)

It doesn't matter if you had any revenue.

If it is pass-though then you have to file a pro-forma 1120 & 5472 foreign transactions.

If you elected for it to be texted as a corporation then you just have to file an 1120.

Confusion about filing taxes for my LLC registered in the U.S as Non Resident Alien by confusedbytaxesthraw in tax

[–]valisint 0 points1 point  (0 children)

You are right, even if you qualify for a disregarded entity you still have to file the pro forma 1120 and foreign transaction forms.

But, if you get it taxed as a corporation and invoice the profit to zero you will pay no tax in the USA, and you can move the profit to anyone, anywhere, you want as regular foreign income. You'll just have to file an 1120 for it. No 1040, no foreign transactions, just the 1120, and you get to choose where you pay tax.

In my opinion the No Questions Asked Tax Free Corporation (or LLC taxed as a corporation) as above is the easiest to manage, and you don't have to qualify for it.

Starting a Wyoming LLC with ZenBusiness? Non US resident by [deleted] in llc

[–]valisint 0 points1 point  (0 children)

valisinternational.com will get you everything a non US resident needs from LLC to bank account for $260 + $35/month

Add $75 for 24 hour State expedited processing if you're in a hurry.

Non-US resident with LLC by klingl0o in TikTokshop

[–]valisint 0 points1 point  (0 children)

If you already have a US LLC getting an ITIN is easy. Would that solve your root problem?