Hello all and thank you for willing to offer to me some seriously needed help.
Earlier this year I did create a Nevada LLC.
Now I will be completely clear with everything because it is a lot of money invested and I am still not operating my LLC for some major reasons and this is at least frustrating for me.
Please read to understand my query-ies
I am completely lost when it comes with start operating my business tax aside.
I don't know what to do and when to do it as long as I am not aware of any of my LLC's operating tax obligations.
I have questions like these:
- 1) At the moment I am working through a Network and I receive money from them to my - their E wallet.
If i start an LLC bank account and start withdrawing that money to my LLC's bank account, is there any transaction script I need to send to them for receiving these funds? How do I justify the amount of money ending up on my bank account to be aligned with tax regulations?
- 2) What transaction records I need to file?
***When I buy something as an LLC I will ask for a receipt or an invoice right? What kind of records I need to keep in that case and How do I file them?
*** When I start a partnership lets say with a network and I start promoting their stuff as an affiliate of theirs and then I receive periodically money from them and I withdraw these funds to my bank account ... what I need to do in that case as an LLC to keep being regulated?
- 3) I am completely lost on whatever has to do taxation aside ... let me give you an example to understand what I mean.
==> Step 1: Here in Greece when a company or a self employed person has activity on the market then when he receives money he receives that money charging someone for services or for selling goods- products.
Charge includes the clear payment + Vat fees. In Greece this Vat is 23% (What is the Vat in the USA and how this model works)
==> Step 2: As long as He or she receives Vat Greek Regulations force companies to pay this VAT received every 3 months by applying also a form on the Greek (IRS). (What I must do as a USA Company to be eligible with Tax regulations in that case? Are there such things I must be aware of inside the states?)
==> Step 3: Every single transaction Receiving money or Buying stuff is being recorded on a specific book which book is reviewable when they want to check my company. (What I Must Do in the USA on this part? Are there such demands?) ...
==> Step 4:Companies file their transactions in a software where they keep records of their activity but in that case this is the only thing I know as long as I am not aware of what kind of records I need to keep and how to do it especially for my LLC.
==> Step 5: At the end of the year all Individuals and any kind of company or self employed Must summarize their annual activity and file a Form (Report) to state their activity and be taxed about it.
(Here this happens at the end of the Year ... What happens in the USA and what applies to my LLC?)
==> Step 6: When a company buy something as a company to be able to file the transaction it needs an invoice and not a simple receipt ( Does this also apply for my LLC inside the US)
- 4) When I want to subscribe as an affiliate but as a company on a network to sell products and get commissions what should I ask in return from this network to file it and keep it on my records. (Reports - receipts etc)
- 5) There are plenty of types of LLc's out there and even when I try to find answers I am struggling because I don't have clarity on my complete LLC's model.
I am an alien owning an LLC inside the US and my company has a single owner which is me.
What type of company am I disregarded ? C-S corporation ? I am completely confused on that.
- 5) So far I have been receiving money from The current Network I am associated with but I use this money through a prepaid card. As long as I am now having an ITIN do I need to be taxed for this money in the United States? If yes ... When and How will that happen?
-----------------------------------------------------
As you can see I am completely lost and you are my only source for answers ... I am blind at the moment and for that reason I really need you to guide me through this so I can start operating my LLC.
I need to address these issues at least by the end of next month and start operating it.
I really wish you can feel my confusion as long as it is a chaos in my mind and you will respond in detail.
My best Regards,
"The Greek"
PS: Practically I need 4 case studies to understand
1st Case study: Buying stuff as a company (What I do)
2nd Case study: Selling stuff as a company (What I do)
3rd Case study: Partnering as a company what I need
4th Case study: Being taxed as a company (When - how - and what I must have kept so long to provide)
PLEASE TRY NOT TO CONFUSE ME MORE
BE specific and spam the post.
Earlier this year I did create a Nevada LLC.
Now I will be completely clear with everything because it is a lot of money invested and I am still not operating my LLC for some major reasons and this is at least frustrating for me.
Please read to understand my query-ies
I am completely lost when it comes with start operating my business tax aside.
I don't know what to do and when to do it as long as I am not aware of any of my LLC's operating tax obligations.
I have questions like these:
- 1) At the moment I am working through a Network and I receive money from them to my - their E wallet.
If i start an LLC bank account and start withdrawing that money to my LLC's bank account, is there any transaction script I need to send to them for receiving these funds? How do I justify the amount of money ending up on my bank account to be aligned with tax regulations?
- 2) What transaction records I need to file?
***When I buy something as an LLC I will ask for a receipt or an invoice right? What kind of records I need to keep in that case and How do I file them?
*** When I start a partnership lets say with a network and I start promoting their stuff as an affiliate of theirs and then I receive periodically money from them and I withdraw these funds to my bank account ... what I need to do in that case as an LLC to keep being regulated?
- 3) I am completely lost on whatever has to do taxation aside ... let me give you an example to understand what I mean.
==> Step 1: Here in Greece when a company or a self employed person has activity on the market then when he receives money he receives that money charging someone for services or for selling goods- products.
Charge includes the clear payment + Vat fees. In Greece this Vat is 23% (What is the Vat in the USA and how this model works)
==> Step 2: As long as He or she receives Vat Greek Regulations force companies to pay this VAT received every 3 months by applying also a form on the Greek (IRS). (What I must do as a USA Company to be eligible with Tax regulations in that case? Are there such things I must be aware of inside the states?)
==> Step 3: Every single transaction Receiving money or Buying stuff is being recorded on a specific book which book is reviewable when they want to check my company. (What I Must Do in the USA on this part? Are there such demands?) ...
==> Step 4:Companies file their transactions in a software where they keep records of their activity but in that case this is the only thing I know as long as I am not aware of what kind of records I need to keep and how to do it especially for my LLC.
==> Step 5: At the end of the year all Individuals and any kind of company or self employed Must summarize their annual activity and file a Form (Report) to state their activity and be taxed about it.
(Here this happens at the end of the Year ... What happens in the USA and what applies to my LLC?)
==> Step 6: When a company buy something as a company to be able to file the transaction it needs an invoice and not a simple receipt ( Does this also apply for my LLC inside the US)
- 4) When I want to subscribe as an affiliate but as a company on a network to sell products and get commissions what should I ask in return from this network to file it and keep it on my records. (Reports - receipts etc)
- 5) There are plenty of types of LLc's out there and even when I try to find answers I am struggling because I don't have clarity on my complete LLC's model.
I am an alien owning an LLC inside the US and my company has a single owner which is me.
What type of company am I disregarded ? C-S corporation ? I am completely confused on that.
- 5) So far I have been receiving money from The current Network I am associated with but I use this money through a prepaid card. As long as I am now having an ITIN do I need to be taxed for this money in the United States? If yes ... When and How will that happen?
-----------------------------------------------------
As you can see I am completely lost and you are my only source for answers ... I am blind at the moment and for that reason I really need you to guide me through this so I can start operating my LLC.
I need to address these issues at least by the end of next month and start operating it.
I really wish you can feel my confusion as long as it is a chaos in my mind and you will respond in detail.
My best Regards,
"The Greek"
PS: Practically I need 4 case studies to understand
1st Case study: Buying stuff as a company (What I do)
2nd Case study: Selling stuff as a company (What I do)
3rd Case study: Partnering as a company what I need
4th Case study: Being taxed as a company (When - how - and what I must have kept so long to provide)
PLEASE TRY NOT TO CONFUSE ME MORE
BE specific and spam the post.