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Do I Need an ITIN for My Dropshipping Business? | Calls with Jim 

James Baker CPA
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Do I Need an ITIN for My Dropshipping Business? | Calls with Jim
In this video Jim talk with a Kuwait client about his dropshipping business, he is planning to form a single member LLC and he wants to know if he need an ITIN for his business, and has more questions. If you are in a similar situation you should watch this video
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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.
-----Longer videos that explain it all!
How to Legally Pay NO US Taxes - • IRS Secrets: How to LE...
How to Legally Pay NO US Taxes (part 2) - • Are you a Non Resident...
-----Guides and How tos
Annual reporting for a foreign owned multi member LLC (Masterguide) - • Tax Laws for Foreign-O...
What is Form W-BEN and why do I need it • How to Fill Out W-8BEN...
Which payments from US Companies are subject to withholding? • Which US Payments are ...
How to complete Form W-8BEN - • 🧾🔍 HOW TO complete Fo...
How to complete Form W-8BEN-E - • How to Complete Form W...
How to get an ITIN - • Get A ITIN Number - W-...
-----And don’t forget to check out all of the “CALLS WITH JIM”
• Calls with Jim
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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.
Click here - www.jamesbaker...
Already have an LLC? Did you already complete form 5472 for your company? Did you know there is a $25,000 penalty for not doing this form? I’ve made a short training that explains exactly what you need to do and why so you can get this done quickly and correctly, the first time around.
Click here - www.jamesbaker...
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Looking for help with your SALES TAXES? Check out a couple of our videos on the topic -
What are sales taxes? • Do I pay Sales Taxes o...
What is a resale Certificate and Why do you Need it - • What is a Resale Certi...
How to get a Florida Resale Certificate, Part 1 - • 📝💼How to get FLORIDA R...
How to get a Florida Resale Certificate, Part 2 - • Get Your Florida Resal...
How to file a DR-15 Florida Sales and Use Tax with 0 Sales - • Florida Sales Tax Fili...
I get asked what company I recommend to help with sales taxes and every time I mention Tax Jar. Once set up, tax jar can complete all of your monthly sales tax filings automatically. If you are looking to solve this problem forever, click this link to find out more about what they can do for you. taxjar.grsm.io...
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Lawyer Disclaimer (Occupational Hazard): This is not legal advice. Everything here is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney for advice regarding any particular issue or problem.

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8 окт 2024

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Комментарии : 16   
@alijawed1234
@alijawed1234 2 года назад
Hi James..... 1040NR needs to be filed if ETOB + US source income = ECI is established. As for dropshopping, it may very well constitute to ETOB.
@mrbabyhugh
@mrbabyhugh 3 года назад
The only tax I think he may have to pay is any state taxes where his LLC is formed, like maybe sales tax.
@mrbabyhugh
@mrbabyhugh 3 года назад
I think the reason they might eventually ask for the ITIN is, they are suspect about the transactions and want a verification on the individual. An ITIN from my research so far is bit more complicated to receive, as your identity HAS TO BE verified by IRS or CAA before it is issued. So the supporting documents (passport, driver's license etc) have to be genuine and physically examined is what I have researched so far, because I am interested in an ITIN, but maybe should forget it, invest, get an E2 where I would qualify for a SSN.
@mrbabyhugh
@mrbabyhugh 3 года назад
Filing a 1040NR is not a bad thing though. NR = Non Resident.
@Thebboyy
@Thebboyy 5 месяцев назад
can I apply for an itin without having a visa (outside the us) ? the purpose is to open an amex business checking account
@aitiegbeminlucky8734
@aitiegbeminlucky8734 2 года назад
From this video, you are saying that one can register on PayPal and stripe with an EIN, then Maybe later PayPal and stripe can ask for ITIN NUMBER?
@JamesBakerCPA
@JamesBakerCPA 2 года назад
Hello Aitiegbemin Lucky. That's correct! If you need help please write to support@jamesbakercpa.com, so we can assist you. Have a great day.
@aitiegbeminlucky8734
@aitiegbeminlucky8734 2 года назад
Hello sir, please from this video are you saying one can register on PayPal and stripe with an EIN alone, or you need to get the EIN and ITIN to be able to register a US PayPal account or stripe?
@JamesBakerCPA
@JamesBakerCPA 2 года назад
Hi Aitiegbemin, please write to support@jamesbakercpa.com so we can assist you
@JamesBakerCPA
@JamesBakerCPA 2 года назад
That's right
@Francotujk
@Francotujk 4 года назад
Hello. Does delaware state give information about llcs yo another countries (argentina)? And do they ask me to declare the llc in my country (or that depends of what i want to do)? Thak you so much
@JamesBakerCPA
@JamesBakerCPA 3 года назад
Hello there, sorry for the late response but if you need any assistance still, please contact us at support@jamesbakercpa.com!
@mahsuncagrkarapnar972
@mahsuncagrkarapnar972 3 года назад
Hi; I am a dropshipper on amazon and I want to tax exempt for California. Without a company can I get ITIN number for tax exempt and Can I use ITIN number for that stuation. Thank you
@JamesBakerCPA
@JamesBakerCPA 3 года назад
Hello, we invite you to send any doubt to the e-mail with your inquiry to support@jamesbakercpa.com, our team would search for it and let you know, or you can check our official website www.jamesbakercpa.com
@mrbabyhugh
@mrbabyhugh 3 года назад
Kuwait has oil, they don't need taxes, haha.
@JamesBakerCPA
@JamesBakerCPA 3 года назад
😀
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