JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: I have a US
business that hires home contractors in the Philippines
I have a business that hires home contractors in the Philippines - we send funds via Paypal to them.I'd like to know if we are going to have any issues in "writing off" payroll as a business expense
this way and if there's a better recommended way of paying contractors working from home in a foreign
country?Or if we should ask for clients to wire funds to a foreign bank account / corporation instead of one in the US? We are a totally virtual business so it doesn't matter where we say our headquarters is, what's the best way to set up our corporate structure for tax advantages
JA: Is there anything else the Accountant should be aware of?
Customer: Hi. I copied this 3 year old post from your site. My situation the same. My business is based in NJ and my virtual assistants/independent contractors
work from home in the Philippines. What do I have to provide the IRS
to write the compensation
off. Do the contractors have to provide a signed US form
that I submit to the IRS etc. Please advise. The post I copied was 3 years old. Is there an update? Thank you.
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Accountant about your situation and then connect you two.