AboutMichael Zakkour Expertise I can answer questions about manufacturing, sourcing products in China and India including design, engineering, quality control, factory auditing, packaging, shipping and customs clearnce.
I can answers question regarding the macro and micro views on doing business in China, India and Asia.
I can offer my expertise regarding Chinese business culture, Chinese culture, cross-cultural understanding and training.
Experience President of China BrightStar, LLC a Sino-American manufacturing, sourcing and consultig company with factories and offices in Beijing, Guangzhou, Ningbo, Bangalore and New York.
Organizations China Institute
Asia Society
Publications Numerous national magazines and newspapers.
Education/Credentials B.A. in Communications
B.A. in Marketing
Seton Hall University
Awards and Honors Guest lecturer at the Wharton School of Business at UPENN, Eli Broad School of Business at Michigan State University, Stern School of Business, NYU
Past/Present Clients Fortune 1000 client base in addition to many small and mid-size businesses.
Expert: Michael Zakkour Date: 2/21/2008 Subject: payments to overseas companies
Question Hi Michael,
I am considering the option of outsourcing some work to a company overseas. How do I report the payments for the services provided for tax purposes. I currently own a small business established as a sole proprietor.
Would I need to make any changes in my business entity to do this?
Thanks!
Answer Hello Vicky. Thanks for writing. Its a good question. You will not need to change your entity. You would need a 1099 if they were foreign partners.
Otherwise you can report the payments the way you would any other business outlay.
