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Old 03-07-2007, 08:49 AM
Seth Breidbart
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Default Re: Hiring overseas consultant

<chenthilk[at]gmail.com> wrote:
- quote -

> I have a S Corp and I am the only employee. I am planning to
> expand my business in India. Thinking of hiring a conultant
> in India who will do a business study. My questions are:
> 1. Can I pay the consultant in USD? Any limits on how much
> can be paid?


Yes. How much can you afford?

- quote -

> 2. What will be the US tax liability for paying this
> overseas consultant?


None for paying him; the payment to him might be deductible,
or amortizable, or not.

Seth

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
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Old 03-06-2007, 09:25 AM
chenthilk@gmail.com
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Posts: n/a
Default Hiring overseas consultant

Hi,

I have a S Corp and I am the only employee. I am planning to
expand my business in India. Thinking of hiring a conultant
in India who will do a business study. My questions are:

1. Can I pay the consultant in USD? Any limits on how much
can be paid?

2. What will be the US tax liability for paying this
overseas consultant?

Thank You

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

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