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Independent Contractor located in US but paid by foreign company, QBI qualification?

I am an independent contractor. The company that manages my contracts and ultimately pays my salary is based in the UK. They provide no tax forms. I pay estimated taxes quarterly and file a schedule C.

Since I am US-based, and my salary is not considered income based on the definitions provided (no w2 or wages automatically withheld, and not providing services to a company I previously worked for), do I qualify for the Qualified Business Income deduction?

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Accepted Solutions
DaveF1006
Expert Alumni

Independent Contractor located in US but paid by foreign company, QBI qualification?

Since you are self-employed and all of your income is earned in the US, you qualify for QBI regardless who handles your contracts.

 

@monniewolf

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4 Replies
ee-ea
Level 15

Independent Contractor located in US but paid by foreign company, QBI qualification?

Independent Contractor located in US but paid by foreign company, QBI qualification?

Thank you, I already reviewed the online IRS documentation before I posted. It does not directly address my question. At least not in a way that I am confident that I qualify.

It just states the "business" needs to be in the US. I assume the "business" is me since I am the contractor, but a foreign contracting firm manages my contract for me and is ultimately the one that sends me payment via a foreign bank.

DaveF1006
Expert Alumni

Independent Contractor located in US but paid by foreign company, QBI qualification?

Since you are self-employed and all of your income is earned in the US, you qualify for QBI regardless who handles your contracts.

 

@monniewolf

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Independent Contractor located in US but paid by foreign company, QBI qualification?

Thank you. It may seem clear to others, but I did not want to risk making a mistake

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