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I am the owner of a Usa corporation and would like to

Customer Question
transfer some funds to a...
I am the owner of a Usa corporation and would like to transfer some funds to a foreign entity in a different country. I would like to know how much I can claim as expenses ???
Submitted: 5 months ago.Category: Tax
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11/26/2017
Tax Professional: Tax.appeal.168, Tax Accountant replied 5 months ago
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,575
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Hello. Thank you for choosing this Q&A service for assistance. My name is***** am reading over your inquiry. I will respond to you shortly.

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Customer reply replied 5 months ago
Okay
Tax Professional: Tax.appeal.168, Tax Accountant replied 5 months ago

What expenses are your referring to? The expense of transferring the funds, or something else?

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Customer reply replied 5 months ago
They are the salaries of offshore employees of the Indian company and also sometimes temporary consultations of experts from India to provide support in our technology projects
Tax Professional: Tax.appeal.168, Tax Accountant replied 5 months ago

Ok, This matter is going to take a bit more time than I have to explain because there are several factors involved. One is that you are mentioning paying the salaries of foreign persons with U.S. source income, which is a matter that will take some time to explain and then you are wanting to know what expenses you can deduct. My apologies, but I don't have the time to go into all the details involved in what you are wanting to do. I am going to opt out and release the question back into the question queue so that someone else can assist you.

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Customer reply replied 5 months ago
Fine
Tax Professional: Barbara, Enrolled Agent replied 5 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,807
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Different expert here - my name is ***** ***** I will be happy to assist you.

Is the Indian company providing services to your U.S. corporation?

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Tax Professional: Barbara, Enrolled Agent replied 5 months ago

Then the Indian company would invoice your U.S. corporation, and the U.S. corporation would expense what is paid to the Indian company.

The Indian company needs to provide Form W-8BEN-E to your U.S. corporation, which your U.S. corporation will keep for documentation. Form W-8BEN-E does not get sent to the IRS.

https://www.irs.gov/pub/irs-pdf/fw8bene.pdf

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Tax Professional: Barbara, Enrolled Agent replied 5 months ago

You do not withhold any taxes or issue any tax documents to the Indian company because the entity is foreign (Indian), and the work is being performed in India.

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Tax Professional: Barbara, Enrolled Agent replied 5 months ago

If you are paying individuals, the form the individual would fill out is W-8BEN.

https://www.irs.gov/pub/irs-pdf/fw8ben.pdf

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Customer reply replied 5 months ago
Do I need to withhold for individuals
Tax Professional: Barbara, Enrolled Agent replied 5 months ago

Not if they are foreign individuals and the work is being performed in India.

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Tax Professional: Barbara, Enrolled Agent replied 5 months ago

Just following up with you to see if you have any other questions. If so, please let me know so I can continue to assist you.

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