turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

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

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies