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Thanks in advance for the help.
I would certainly start with irs.gov, though. There's a lot more there than just listings of the tax code. Really quite a lot of helpful material.
No way would I use elance, etc. to answer accounting, tax, or legal questions.
IMO, free advice is more costly than a CPA.I would certainly start with irs.gov, though. There's a lot more there than just listings of the tax code. Really quite a lot of helpful material.
No way would I use elance, etc. to answer accounting, tax, or legal questions.
This is great advice. Great cheap advice is only as good as the person providing it. In this specific instance, I think jatara has the right idea that getting advice from someone that doesn't know you about financial matters is a great way to invite folly.
Find someone close to home if possible to ask about what you should be paying in taxes and how to limit your liability.
The problem is that I am not located in USA. It's almost impossible to find a lawyer or CPA who is familiar with USA tax regulations here. That's the reason I went to Elance. Since Elance is not recommended, the other choice is to search the Internet, find a Lawyer/CPA firm and call them? I don't know how to make sure they offer good service and charge me fairly. Is US$200 per hour reasonable?
The problem is that I am not located in USA.
You probably should be talking to an accountant in your own country who is familiar with international business, particularly with the U.S.
I am assuming that your questions revolve around U.S.-sourced income.
I do think the IRS site will help you at least home-in on what kind of questions you have.
You are subject to the laws of YOUR country, the taxation of your own country and perhaps of the U.S. You should be talking to somebody versed in the laws of your own country first, who also knows how laws and taxation of the U.S. affect you.
It's almost impossible to find a lawyer or CPA who is familiar with USA tax regulations here.
Bummer. I still think you are better off with somebody in your own country, though. You may need to shop in a city that is a financial center.
Is US$200 per hour reasonable?
That seems on the high side. I'd say $100-$150 in a large U.S. city. But - with this specialized knowledge, perhaps not so high. That is, if they are specifically familiar with and/or authorized to practice in your country.
I plan to outsource to US fulfillment center for processing the orders placed on my e-store and hopefully open a bank account in USA. The e-store will stay outside of USA. Yes, I can refer to local CPA or lawyer for tax regulations in my home country. But my questions are really about US taxes. It would be a disaster if I take the first step to do business with the US fulfillment company before understanding the US tax laws.
What I am curious is if I need to pay US tax for my business, and I thought it would be better to find a US lawyer or CPA for that?
