I am looking for some advice regarding hiring an accountant.
I am currently just winging it with some invoicing software to handle AR but now that I am bringing on contractors I think I may need some help.
Work with two other people and would like to pay them as contractors. One is in the US and another is in India. They may eventually become partners.
I am concerned that there may be some tax implications to paying foreign contractors that I don’t know about. I know that I need to report to the IRS payments over $600 for US contractors but I have no idea about the foreign contractor.
What type of accounting services should I pursue given the above? Roughly how much do these services cost?
I am currently just winging it with some invoicing software to handle AR but now that I am bringing on contractors I think I may need some help.
- It is a small LLC in Austin TX (less then 50k revenue)
- We offer software as a service (SaaS) via our website
- Most of our clients are non-profits
- One of our clients is outside the US (Canada)
- We may sell our software/service in Europe
- We all will be doing this part-time
Work with two other people and would like to pay them as contractors. One is in the US and another is in India. They may eventually become partners.
I am concerned that there may be some tax implications to paying foreign contractors that I don’t know about. I know that I need to report to the IRS payments over $600 for US contractors but I have no idea about the foreign contractor.
What type of accounting services should I pursue given the above? Roughly how much do these services cost?