How to Declare Income from My US LLC in Germany?
If you are a German resident who owns a US limited liability company (LLC), you must declare any income generated by the LLC in both the United States and Germany. In this article, we will discuss how to declare income from your US LLC in Germany and the required tax forms.
As a German resident, you must report your worldwide income to the German tax authorities. This includes any income generated by your US LLC, regardless of where the income was earned. You must also declare the same income to the US Internal Revenue Service (IRS) and pay any taxes owed to both countries.
The first step in declaring your US LLC income in Germany is to obtain a tax identification number (TIN) from the German Federal Central Tax Office (Bundeszentralamt für Steuern).
Once you have obtained your TIN with the German tax authorities, you will need to file a German tax return (Einkommensteuererklärung) each year. In the tax return, you must declare all income earned by your US LLC, as well as any expenses related to the LLC's operations. You may also be able to claim any deductions or credits that are available to you under German tax law.
In addition to the Einkommensteuererklärung, you may also need to file a number of other tax forms, depending on your specific circumstances.
Some US forms are required, such as 1120, 5472, 5471, 1040NR, ... Our experts are here to help you file the tax returns of your LLC in the US.
In conclusion, owning a US LLC as a German resident requires careful tax planning and compliance with both US and German tax laws. To ensure that you are meeting all of your tax obligations, it is recommended to consult with a tax professional who is familiar with the tax laws of both countries.