Question
Inquiry Regarding Tax Filing Options for Online Business Targeting Foreign Market
Hi,
I'm launching an online business targeting a foreign market initially, with potential expansion to the US.
Q1: Should I register a company in the foreign country or file taxes in the US?
Q2: If US filing is advised, should I use Schedule C for self-employed taxes, or consider another business structure?
Q3: Additionally, if my business earns no income in the first year but incurs $1000 in expenses, can these expenses be claimed on Schedule C to offset my federal or state tax returns?"
Thank you so much
