What is the name of your state? Florida
Hello, I am a US citizen and also a Brazilian resident. I am opening a small real estate business in Salvador, Brazil that will be similar to a US LLC. I deal with online vacation rentals for tourists visiting Brazil from the US and Europe as well as property management and sales in Salvador - but all business actually takes place and is in reference to Brazil. I am wondering about how to open my business in Florida to have a US presence. I won't have any employees in Florida and I am interested in opening and registering the business in the US only if it will be beneficial to me tax wise - I know that as a US citizen I am taxed on my worldwide income but am unsure of how that pans out with me having a foreign LLC - am I taxed just on the money that I make with that business or will I be required to fill out tax forms as if my foreign LLC were a US LLS (itemize all, etc using form 1040)? Secondly, if I do open an office and register it in the state of Florida, there is the issue of licensing - I am a licensed real estate agent in Brazil but not in the US. Can I open my US office as more of an investment group LLC in order to avoid licensing issues? Thank you
Hello, I am a US citizen and also a Brazilian resident. I am opening a small real estate business in Salvador, Brazil that will be similar to a US LLC. I deal with online vacation rentals for tourists visiting Brazil from the US and Europe as well as property management and sales in Salvador - but all business actually takes place and is in reference to Brazil. I am wondering about how to open my business in Florida to have a US presence. I won't have any employees in Florida and I am interested in opening and registering the business in the US only if it will be beneficial to me tax wise - I know that as a US citizen I am taxed on my worldwide income but am unsure of how that pans out with me having a foreign LLC - am I taxed just on the money that I make with that business or will I be required to fill out tax forms as if my foreign LLC were a US LLS (itemize all, etc using form 1040)? Secondly, if I do open an office and register it in the state of Florida, there is the issue of licensing - I am a licensed real estate agent in Brazil but not in the US. Can I open my US office as more of an investment group LLC in order to avoid licensing issues? Thank you