Pages in topic: < [1 2] | How to open a small/virtual office in USA? Thread poster: Maxime Bujakov
| Maxime Bujakov France Local time: 11:18 French to English + ... TOPIC STARTER pay income taxes | Aug 8, 2016 |
Jessica Noyes wrote: In the U.S., there is no legal requirement to register a one-person business if you operate under your own name. I just receive payments in my name, keep a record of my earnings, and pay taxes. Self-employed people do have to pay their taxes quarterly though. Becoming an LLC has its advantages, and so does adopting a snazzy name, but I haven't chosen to take either route. However, the problem for your dad would be this: if you ask your clients to make a check out in his name and mail it to him, he can cash it and put it in his own account, and transfer it to you somehow; however, there is a remote chance that if it's a lot of money, the Internal Revenue "Service" might notice it somehow and expect him to pay income taxes on it. Thank you so much, I did not know self-employed don't register in US, and I too pay quarterly taxes in France, takes me 15 minutes to file | | | Maxime Bujakov France Local time: 11:18 French to English + ... TOPIC STARTER pay taxes only on the difference | Aug 8, 2016 |
Katalin Horváth McClure wrote: OP has to pay taxes on it in France, his dad would have to pay taxes only on the difference. Another funny thing is that if the dad has income from other sources, for example has regular employment, then he would have to pay taxes on the combined income, and the minimal amount he would declare from the translation business might just push him into a higher tax bracket for his entire income, making the end result a loss. By the way, if the money simply gets funneled through the dad's account, that may raise all sorts of flags for money laundering. Frankly, unless I am misunderstanding something, or the amounts in question are huge, it doesn't seem to me as a worthwhile undertaking. Katalin thank you, like I said I thought most direct customers prefer to pay into a US account (rather than agencies that are well trained to international operations). When the money will be huge I will definitely have a US accountant who will sort it out. I am struggling to get 1 first corporate customer in France or US. | | | Jessica Noyes United States Local time: 05:18 Member Spanish to English + ...
[quote]Katalin Horváth McClure wrote: If the person (the OP's dad) is working as a self-employed person, then he would be the one contracting with those end clients, receive payments, and then receive the form 1099s at the end of the year from those clients. [quote] It is important to clarify that only U.S. entitities file 1099s reporting payments to you with the IRS. (If you do business with clients in other countries, they have no way of sending 1099s, and don't.) U.S. entitities only have to do this if they have paid you more than $600 in a given year. PayPal has to report to the IRs only if your receive $20,000 in gross payment volume. So it is really up to you to report the rest of your income above and beyond the 1099s. Hope this helps, J | | | Balasubramaniam L. India Local time: 14:48 Member (2006) English to Hindi + ... SITE LOCALIZER What your clients would be more concerened about... | Aug 9, 2016 |
What your clients meant when they told you that they would prefer to work with US-based serive providers, is that they preferred service providers who understand the US-market, the American customer tastes, the laws of the land, and other nitty-gritties that agencies with a prolonged presence in the US would be privy to. And claiming such specialist knowledge of the US market while technically based in France by managing to get an address and a bank account in the US, is in my eyes not a very ho... See more What your clients meant when they told you that they would prefer to work with US-based serive providers, is that they preferred service providers who understand the US-market, the American customer tastes, the laws of the land, and other nitty-gritties that agencies with a prolonged presence in the US would be privy to. And claiming such specialist knowledge of the US market while technically based in France by managing to get an address and a bank account in the US, is in my eyes not a very honest thing to do. If you are serious about this, you should actually move to the US, live there a couple of years spending time in understanding the US market, and then gradually break in into the US translation market. ▲ Collapse | |
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Maxime Bujakov France Local time: 11:18 French to English + ... TOPIC STARTER prefer to work with US-based | Aug 9, 2016 |
Balasubramaniam L. wrote: What your clients meant when they told you that they would prefer to work with US-based serive providers, is that they preferred service providers who understand the US-market, the American customer tastes, the laws of the land, and other nitty-gritties that agencies with a prolonged presence in the US would be privy to. And claiming such specialist knowledge of the US market while technically based in France by managing to get an address and a bank account in the US, is in my eyes not a very honest thing to do. If you are serious about this, you should actually move to the US, live there a couple of years spending time in understanding the US market, and then gradually break in into the US translation market. THanks but opening a branch in another country is not dishonest | | | He was talking about US clients from the beginning | Aug 9, 2016 |
Jessica Noyes wrote: Katalin Horváth McClure wrote: If the person (the OP's dad) is working as a self-employed person, then he would be the one contracting with those end clients, receive payments, and then receive the form 1099s at the end of the year from those clients. It is important to clarify that only U.S. entitities file 1099s reporting payments to you with the IRS. Yes, and he was specifically talking about US clients. That's why he wants to do this whole thing. | | |
Balasubramaniam L. wrote: What your clients meant when they told you that they would prefer to work with US-based serive providers, is that they preferred service providers who understand the US-market, the American customer tastes, the laws of the land, and other nitty-gritties that agencies with a prolonged presence in the US would be privy to. Really? I have no idea where you are getting this from, and with such confidence. It may be as simple as they do not want to deal with non-US currencies and/or costly and complicated overseas bank transfers, especially if they do not have many non-US suppliers.The OP's original intent to just have a bank account for payments points to this. And he is the one who talked to the clients, so maybe there is chance (just maybe) that he knows what they meant? | | | Pages in topic: < [1 2] | There is no moderator assigned specifically to this forum. To report site rules violations or get help, please contact site staff » How to open a small/virtual office in USA? Anycount & Translation Office 3000 | Translation Office 3000
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