Non-Resident alien business taxation (sole proprietor LLC) & greencard Common Mistakes

RicardoBrites — Wed, 26 Jan 2022 18:10:07 GMT

Hi!

My name is Ricardo and I'm a Portuguese citizen, I have never been to the US and I have been, for the last year or so, trying to understand the US taxation system for my specific situation.

I intend to create an online shop selling both physical and non-physical products (no alcohol no tobacco nor any type of drugs... simple material objects for everyday use like for example a toy car or Christmas decoration, etc...).

My questions regarding this situation are:

What do I need to file as a Non-Resident Alien with a sole proprietorship LLC (and Sole proprietorship without an LLC established if there are any differences on which documents to file)?

Do I have a minimum profit amount to be eligible to file taxes?

Can I file electronically as a non-resident alien? (not counting fax as electronic)

If I were to go to the US with a working visa or a student visa would it change my taxation needs?

What resources do you recommend for me to research my situation? (if there are none it's okay)

Aside from the last questions, I have a question unrelated to my previously mentioned situation:

If I were to win the green card lottery what are some tips you can give me regarding how I should approach the situation in general? (some common mistakes people make that makes them end up getting delayed and therefore not get the green card)

That is all, Thank you very much for the time and effort to answer all of my questions!
All the Best,

Ricardo Brites

Re: Non-Resident alien business taxation (sole proprietor LLC) & greencard Common Mistakes

MarilynG1 — Wed, 26 Jan 2022 19:52:28 GMT

It is probably easier to start out as a Sole Proprietor for tax purposes. If you add partners, you can form an LLC, but may need to file a separate Business Return in that case.

Click this link for detailed info on LLCs.

As a Non-Resident Alien, you can't file using TurboTax, but can through our partner, Sprintax.

To file as a Resident Alien, you need to meet either the Green Card Test or the Substantial Presence Test. However, with several types of visas (including an F1 student visa), you can't count your days in the US towards the Substantial Presence Test.

This article gives detailed Tax Tips for Resident and Non-Resident Aliens.

As far as the Green Card Lottery, this link has info you may find helpful.

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Non-Resident alien business taxation (sole proprietor LLC) & greencard Common Mistakes

Re: Non-Resident alien business taxation (sole proprietor LLC) & greencard Common Mistakes