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wisegirl74
Foreign Business expense deduction and income report, and documentation?
Last year I purchased a ranch (in cash) in Nicaragua with the intent to develop it. We hired workers and have invested in the infrastructure and started working the land. Also we are receiving some rents from the land.
Questions: Do I need to have the business incorporated or LLC or whatever in the US or Nicaragua to support the business expense with the IRS?
Can someone guide me and tell me were to read about filling out the 1040 for foreign businesses?
What documentation should I keep handy in order to support the income and expenses reported to the IRS in case I get audited?
This business is 5 months new so my documentation is not very organized...
Please advise.
1 AnswerUnited States6 years agowhy would he put away his wife foto?
5 AnswersMarriage & Divorce6 years agoHow can I establish effective internal controls in my small business?
I am about to purchase a farm in another country, my brother in law will be the administrator of the farm, as soon as we finish the purchase him and two employees will beging the farming process. Since this will become our family's business (although long distance) I need to have cash internal controls to prevent a disaster from happening. I need suggestions.
I do not want the same person selling the crops and collecting cash.
PS: There is no option for us to move to another country.
1 AnswerSmall Business7 years agoCan I claim my mother as a dependent? I support her 100%, she lives in Nicaragua.?
I read the IRS publication on dependents but is there an exemption? My mom lives in Nicaragua and I support her 100% she is not a US citizen or resident.
6 AnswersUnited States9 years agoHow much breast milk should I keep in the refrigerator and how much should I freeze?
I bottle feed my baby every two hours, I keep about one day ahead supply in the fridge about 32 oz total of those how many do you suggest I freeze to build up a supply? My baby drinks about 2 oz per feeding sometimes 1 or 3 but on average 2 every 2 hours. He is two months old.
1 AnswerNewborn & Baby1 decade agoCan I use Aquaphor while using cloth diapers?
My baby has had severe diaper rash (including a rectal abscess simultaneously); the doctor recommended to use Aquaphor and to only use a cloth and water to clean after each diaper change. I purchased a bunch of softbum cloth diapers and would like to use them but I heard that I could not use the Aquaphor cream on cloth diapers..... Can anyone tell me why????
I absolutely have to use the aquaphor cream.
3 AnswersNewborn & Baby1 decade agowhich foods should I cut from my diet?
I am pumping breastmilk for my 6 week old (premature) baby. He is experiencing gas and a lot of spit-up. I just introduced new formula (Enfamil A.R) to see how it will reduce spit-up. But he cries every time he burps and spits-up or vomits......I would like to know which foods (the ones I eat) can cause gas in the baby, so I can cut it out of my diet.
Hopefully everyone can help!!
1 AnswerNewborn & Baby1 decade agoWhat type of flower essence or oil should I take for arthritis pain?
What type of flower essence or oil should I take for excruciating arthritis pain and where to get it? If you also know how to take it if applied on the skin or ingestion.
Thanks
2 AnswersAlternative Medicine1 decade agoComo hacer pupusas??
Compre maseca, la mezcle con queso rallado, agua y sal, las rellene de queso. Pero no huelen ni saben a pupusas, saben a tortilla rellena. Como hacer las pupusas cual es la harina que debo usar?
2 AnswersCocina Étnica1 decade agoHow long until next communication?
I just received the I-797C, Notice of Action, notifying the receipt of my check and application. How long do you think I will wait for the next communication from Immigration? and What will it be?
2 AnswersImmigration1 decade agoCan I get free internet using a long range WiFi Signal Booster?
Well I guess, can I access my neighbor's or local coffee shop's internet using the WiFi signal booster long range.
2 AnswersComputer Networking1 decade agoIf I change my last name in my passport?
Will I also lose the stamped pages of where I've been?
1 AnswerEmbassies & Consulates1 decade agoWhen will I hear from Immigration?
I submitted the form I-130 to petition my husband from Nicaragua in January 16th. When will I hear from immigration? How long until they sent me an approval/denial letter? I know it takes about 6 to 8 months the whole process, when will I hear from them to send the next package, 1 month 2 months.
3 AnswersImmigration1 decade agoI-130 Petition Question?
I submitted the form I-130 to petition my husband from Nicaragua in January 16th. When will I hear from immigration? How long until they sent me an approval/denial letter?
3 AnswersImmigration1 decade agoWhat type of onions can I grown on hanging baskets?
I want to create my own hanging basket vegetable garden, and so far I know that I can grown small bell peppers and small tomatoes. But can I also grow onions and garlic?
1 AnswerGarden & Landscape1 decade agoI need a ITIN number, if I take the return in person to the IRS, Will I get the number?
I guess I want to know if I can get the number right there in the IRS office or do still have to wait for them to issue the number. I will this number to file State taxes.
1 AnswerUnited States1 decade agoDoes my husband has to sign the 1040 if we are married and filed jointly?
Well, my husband will be out of the country for about 9 months, and it takes about 3 weeks if I mailed the form to him and 3 weeks to get it back if not more. Is there a waiver so he doesn't have sign?
3 AnswersUnited States1 decade agoI petioned my husband from Nicaragua and filed an I-130, how long until I hear if I was approved?
I got married in Nov. 15th and have submitted petition under I-130, how long does Immigration take to answer on average. What are my next steps. How long until he can come to be with me?
4 AnswersImmigration1 decade agoCan I send my 1040 with request for identification number?
I got married last year and my husband does not have a ssn, can I send my 1040 with the ITIN (request for identification number) or do I need to send the ITIN first and wait for the number. What should I do for State taxes, they also ask for the ITIN number. Should I wait until I get it before filing state taxes.
1 AnswerUnited States1 decade agoHow to get reinstated in yahoo answers? ?
My main account in Yahoo has been suspended for no good reason, I have requested several times to be reinstated, in fact I have requested the things I need to do in order to be reinstated and they keep sending me this email to read. OK, I've read it, and now what? This is very frustrating.....Please help I had reached level 5 and I would not like to loose all those points.
3 AnswersYahoo Answers1 decade ago