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mama A
Returning Member

Inquiry Regarding Tax Filing Options for Online Business Targeting Foreign Market

Hi, 

 

I'm launching an online business targeting a foreign market initially, with potential expansion to the US.

Q1: Should I register a company in the foreign country or file taxes in the US?

Q2: If US filing is advised, should I use Schedule C for self-employed taxes, or consider another business structure?

Q3: Additionally, if my business earns no income in the first year but incurs $1000 in expenses, can these expenses be claimed on Schedule C to offset my federal or state tax returns?"

 

Thank you so much

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