Foreign taxes

[bg1fford]

I have an LLC in the US, and have opened an SRL (equivalent to an LLC) in Romania. They are independent companies, but my Romanian company will invoice my US company for services, reducing my net income in the US. I will file for taxes in Romania for my Romanian company of course. What is my US tax obligation for this cross-country transaction and foreign income, if any?

[OpeA1]

The United States imposes taxes on world-wide income. Therefore, if a citizen, you are required to declared your worldwide income on your tax return.

I hope this is helpful!