The best perk of freelancing is the ability to make your own schedule, but that comes with new expenses and the need for strong organizational skills. Unlike regular employees, freelancers must track their income and expenses and pay self-employment taxes,…
With each tax filing, foreign-owned LLCs face added reporting requirements with the approaching 2026 filing season. Avoid the headache of not filing, as the penalties for not completing just one form can exceed $25,000. This guide explains the foreign LLC…
For foreign entrepreneurs with U.S. LLCs, the compliance period from November to March is the most crucial. Failing to complete the required IRS and state-level obligations during this time can lead to significant delays and penalties. By following this checklist,…
Decentralized Autonomous Organizations (DAOs) are creating new and innovative ways for communities to collaborate, develop products, and maintain financial systems. While the decentralized design of DAOs embodies advanced techno-social coordination, it also brings forth new tax compliance dilemmas. With tax…
As we near the first set of IRS filing deadlines on March 15, 2026, for partnerships, and April 15, 2026, for individual returns, foreign LLC owners need to obtain a valid Individual Taxpayer Identification Number (ITIN). ITINs will be a…
As a business owner, one of your biggest responsibilities will be selecting your single-member LLC tax classification. This will determine how much you pay in taxes, the forms you submit to the IRS, and the level of complexity you will…
In Michigan, starting or managing a business means that a Michigan registered agent must be assigned to the business. This is a state law obligation for all types of businesses. The agent must be assigned to all types of business…
November 2025 is here, and the 2026 tax filing season is almost here. This also means that IRS obligations for foreign founders with US LLCs are forthcoming, and foreign founders with US LLCs must prepare during this transition period. Especially…
The first form every partnership must fill out for the IRS is Form 1065 — the U.S. Return of Partnership Income. Every multi-member LLC in the United States must fill out this form every year, even if the business earned…
Why Form 5472 Matters for Foreign-Owned LLCs If you are a foreign individual or entity with a single-member LLC in the US, you need to understand the Form 5472 LLC requirements to remain compliant. Form 5472, or "Information Return of…
