We have a Wyoming LLC with independent contractors, no employees. Form SS-4 for EIN says to file Form 941 and Form 940 by January 31. We like to know if this is required if we have independent contractors only. We don’t have tax payments.
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answered on Jan 26, 2024
No, if your Wyoming LLC only has independent contractors and no actual employees, then you would not have to file IRS Form 941 (Employer's Quarterly Federal Tax Return) or Form 940 (Employer’s Annual Federal Unemployment Tax Return).
The key factors here are:
- Independent... View More 
They sold their business to J. J pays them monthly. J misappropriated covid relief funds and the IRS is going after him for $1,000,000. They are now going after my parents too and have take over $122,000 from them on 2 separate occasions. How can we get their money protected and the IRS to leave... View More
answered on Aug 7, 2023
Your parents need to consult with a tax attorney. It is impossible to give you advice in this format Most of us offer a free consultation. Just tell your parents to stay away from the places they see advertised on TV.
I currently reside in California and am planning on establishing my consulting agency. It will just be me and planning to hire independent contractors.
answered on Dec 29, 2019
You should setup an LLC in the state where you operate. Then determine if an S-election is appropriate for your LLC.
If you establish in WY you'll have to file a foreign registration in CA.
Hire a professional.
I am from the UK and looking to setup a US business. I've decided that taxation as a C-Corp is best as I am looking to build capital and retain profits in the company so a pass-through entity is not ideal. I understand that as a C-Corp, things are more formal and decisions require minuted... View More
answered on Aug 19, 2019
For tax there is no difference. For state business compliance issues a Corporation has slightly more things that have to be done to maintain the corporate veil. Annual meetings are required where an LLC can waive them you have to set a par value for shares and report the number of shares issued... View More
Dear Sir or Madam,
I have a few questions about my Wyoming LLC which I just registered. I originally registered the LLC especially in Wyoming because of the tax & privacy regulations.
- How am I taxed in the US?
- What type of entity should I choose to file my EIN... View More
answered on Jul 10, 2016
There are questions and answers similar to the mentioned situation on our website at http://aba-us.com/other-services/?lang=en. You can take a look for general information. Also you consult with an experienced immigration attorney for your best interest. Good luck.
If it meets the burdens of 1) Required by the employer 2) not suitable for general everday wear such as that worn in healthcare?
answered on Nov 19, 2013
Uniform allowance included in W-2 could be deducted only as an itemized deduction subject to 2% threshold. It would be best if the employer just buys the uniform for staff and doesn't include it in W-2, because by itemizing, staff loses some of the money, or some do not even itemize. good luck.
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