Foreign Member of US LLC and taxes

[dutchmatt 1]

I had a question and was hoping for some help. I entered the US in Nov 29 on a K1 fiancee visa. With this visa I don't have employment authorization or permanent residency or anything (yet). I applied about a month ago for EAD and AOS. I am a Canadian Citizen. A friend of mine (US citizen) had been discussing starting an LLC once I arrived in the US, and that's what we did. In early Dec 09 we filed the formation of our LLC with the State of Michigan. During 2009 the company had no profits, expenses, revenue...anything. We simply filed papers. Do I have to do anything personally for my taxes this year to reflect this? Does an individual LLC member have to file taxes if all the boxes would have a zero in it? Let me state again, all we did was file the paperwork with the state. We made no transactions, received no money and had no expenses whatsoever in 2009. Our operating agreement states that at this time I'm a passive member of the company and not involved in the day-to-day operations of the company. We will add an amendment to this after I receive my EAD and AOS.

And help would be great!

[HanhThai 0]

I had a question and was hoping for some help. I entered the US in Nov 29 on a K1 fiancee visa. With this visa I don't have employment authorization or permanent residency or anything (yet). I applied about a month ago for EAD and AOS. I am a Canadian Citizen. A friend of mine (US citizen) had been discussing starting an LLC once I arrived in the US, and that's what we did. In early Dec 09 we filed the formation of our LLC with the State of Michigan. During 2009 the company had no profits, expenses, revenue...anything. We simply filed papers. Do I have to do anything personally for my taxes this year to reflect this? Does an individual LLC member have to file taxes if all the boxes would have a zero in it? Let me state again, all we did was file the paperwork with the state. We made no transactions, received no money and had no expenses whatsoever in 2009. Our operating agreement states that at this time I'm a passive member of the company and not involved in the day-to-day operations of the company. We will add an amendment to this after I receive my EAD and AOS.

And help would be great!

You only file tax when you make any income. For your statement above you didn't receive any money from LLC then you don't have to file any tax.

However if you like, you can file tax with your wife together as a couple. She could claim you in her tax so it will help her to reduce her tax for the year.

[payxibka 10,045]

I had a question and was hoping for some help. I entered the US in Nov 29 on a K1 fiancee visa. With this visa I don't have employment authorization or permanent residency or anything (yet). I applied about a month ago for EAD and AOS. I am a Canadian Citizen. A friend of mine (US citizen) had been discussing starting an LLC once I arrived in the US, and that's what we did. In early Dec 09 we filed the formation of our LLC with the State of Michigan. During 2009 the company had no profits, expenses, revenue...anything. We simply filed papers. Do I have to do anything personally for my taxes this year to reflect this? Does an individual LLC member have to file taxes if all the boxes would have a zero in it? Let me state again, all we did was file the paperwork with the state. We made no transactions, received no money and had no expenses whatsoever in 2009. Our operating agreement states that at this time I'm a passive member of the company and not involved in the day-to-day operations of the company. We will add an amendment to this after I receive my EAD and AOS.

And help would be great!

For tax purposes is your Company a Subchapter "C" or Subchapter "S" corporation or a partnership

Edited February 15, 2010 by payxibka

[Darnell 8,478]

It is my understanding that the Company must file, but since no monies were accumulated, why bother?

Usually, the corporate tax return, even if at 0 dollars, is a good thing to file.

Now, if the Company paid YOU, then that is INCOME that YOU will declare on your tax return.

Since the Company hasn't paid you anything, then it won't be reportable.

Maybe better to just 'file with your wife' on a joint return, this year, ah?

Good Luck !