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jgordosea
jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3159
Experience:  I've prepared all types of taxes since 1987.
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I will be starting a job soon as an independent contractor.

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I will be starting a job soon as an independent contractor. The job is with a foreign company, doing work overseas. While I will be doing travelling, much of my day-to-day work will be from home. I know that typically I would request the company to file a W9 with the IRS. Since this company does not do any U.S. business, would they still file a W9, or is there something else?

Greetings,

 

If this is a foreign based company with no locations or business in the United States there are no requirements for that company to report or file anything with Us tax authorities.

 

So you should not expect that company to collect or file any IRS forms.

 

You will need to maintain your own records, since as a US citizen or resident you are required to report all of your world wide income (regardless of what the company does or does not file or report).

 

Please ask if you need more discussion or clarification.

Thank you.

 

 

 

 

 

Customer: replied 3 years ago.

Ok, so what types of records do I need to be keeping, and is there a particular way to keep them? Obviously, I'm new to this.

Hello again,

 

There is no required format but you just need to keep track of your income and business expenses.

 

You can do this by hand, in a spreadsheet, with a software program like Quicken, an online service like GoDaddy Bookkeeping, and so on. Whatever allows you to accurately be able to report your net profit which is your income less your business expenses can be used.

 

For more information on recordkeeping see

 

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Recordkeeping

 

http://www.taxpayeradvocate.irs.gov/Businesses/Small-Business-Recordkeeping

 

Hope this helps in your new endeavor.

 

If you need more help or have another question, please put my name in the question to allow me to assist.

 

Best wishes.

jgordosea and 2 other Tax Specialists are ready to help you
Hello again,

Hope all is well with your new endeavor.
Just wanted to check if you needed more tax help or had any other question on starting to work overseas as a contractor.

Best wishes,
John Gordos, EA