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Expenses Deductible
July 21st, 2010
Question: What tax Deductible Expenses can I claim?
I am thinking of registering a US LLC, although I’m a non-resident alien.
Will I be able to claim expenses that are incurred in my home country when I file my returns next year? These expenses could be the following:
1. Medical expenses for myself
2. Rent of office space
3. Business related mileage
Answer: If you do not have a partner, then you are a sole proprietor. You will report your income and expenses on schedule C or C-EZ (Form 1040). This income is subject to SE tax at 15.3%.
For more info about your deductions and taxes: http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html
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