{"id":4953,"date":"2023-12-26T11:21:32","date_gmt":"2023-12-26T11:21:32","guid":{"rendered":"https:\/\/oandgaccounting.com\/staging\/?page_id=4953"},"modified":"2025-03-07T11:14:04","modified_gmt":"2025-03-07T11:14:04","slug":"find-the-right-cpa-for-your-foreign-owned-llcs-in-new-mexico-expert-guide-for-fdes","status":"publish","type":"page","link":"https:\/\/oandgaccounting.com\/staging\/resources\/find-the-right-cpa-for-your-foreign-owned-llcs-in-new-mexico-expert-guide-for-fdes\/","title":{"rendered":"Find the Right CPA for Your Foreign-Owned LLC in New Mexico: Expert Guide for FDEs"},"content":{"rendered":"<div class=\"onefivequestion\">\n<div class=\"container py-4 text-left\">\n<h5>QUESTION: How to Find a CPA for a Foreign-Owned Disregarded Entity in New Mexico?<\/h5>\n<h5>I am a non-resident in the US and the sole proprietor of an LLC company in New Mexico. My LLC is a foreign-owned disregarded entity (FDE) for tax purposes and I have to file Forms 1120 and 5472 with the IRS, as well as the FBAR with the FinCEN, every year. I also need to maintain a minimum accounting (monthly bookkeeping) and a balance sheet and profit and loss statement (BL and P\/L) validated by a registered CPA to present to my tax manager in Spain. I am looking for a CPA who can help me with these tasks and advise me on the best accounting software and practices for my situation. How can I find a reliable and affordable CPA for my FDE in New Mexico? What are the average fees and services that I can expect from a CPA for my FDE?<\/h5>\n<p><strong>EXPERT\u2019S RESPONSE:<\/strong> If you&#8217;re a <a href=\"https:\/\/www.irs.gov\/individuals\/international-taxpayers\/nonresident-aliens\" rel=\"noopener\" target=\"_blank\">non-resident<\/a> business owner operating an LLC in the US, you are classified as a Foreign-Owned Disregarded Entity (FDE) for tax purposes. This means that while your business is legally separate from you as the owner, it&#8217;s not considered a separate entity for tax return purposes. The income and expenses of the FDE are &#8220;passed through&#8221; to your personal tax return. Below are the specific filing requirements you need to meet, such as Proforma Forms 1120, 5472, and FBAR.<\/p>\n<h5>Choosing the Right CPA for Your FDE<\/h5>\n<p>Working with a <a href=\"https:\/\/oandgaccounting.com\/staging\/about-me\/\" rel=\"noopener\" target=\"_blank\">qualified CPA <\/a>who understands the complexities of FDEs is essential to ensure you meet all compliance requirements and make informed financial decisions. Here&#8217;s how to find the right CPA for your FDE in New Mexico:<\/p>\n<h5>1. Look for Specialized Expertise:<\/h5>\n<ul>\n<li><strong>Focus on Foreign-Owned Businesses:<\/strong> Seek CPA firms that have a strong track record of working with foreign-owned businesses, particularly single-member LLCs in the US. They&#8217;ll have a deeper understanding of the unique tax implications and compliance requirements.<\/li>\n<li><strong>Experience with IRS Filings and International Taxation:<\/strong> Ensure the CPA has expertise in handling Proforma Forms 1120, 5472, and FBAR, as well as a solid grasp of international tax laws and regulations.<\/li>\n<\/ul>\n<h5>2. Consider Services Offered:<\/h5>\n<ul>\n<li><strong><a href=\"https:\/\/oandgaccounting.com\/staging\/single-member\/\" rel=\"noopener\" target=\"_blank\">Tax Filing<\/a>:<\/strong> Verify that the CPA can handle the necessary tax filings for your FDE, including Forms 1120, 5472, and FBAR.<\/li>\n<li><strong><a href=\"https:\/\/oandgaccounting.com\/staging\/service-packages\/#monthly-bookkeeping-package\" rel=\"noopener\" target=\"_blank\">Bookkeeping and Accounting<\/a>:<\/strong> If you need assistance with monthly bookkeeping, balance sheets, profit and loss statements, or accounting software recommendations, inquire about these services.<\/li>\n<li><strong>General Accounting:<\/strong> For broader accounting needs, ensure the CPA can provide general accounting services to support your business operations.<\/li>\n<li><strong>FBAR (FinCEN Form 114):<\/strong> If your FDE has foreign financial accounts with combined balances exceeding $10,000 at any point during the year, you&#8217;ll need to file an FBAR (Foreign Bank Account Report).<\/li>\n<\/ul>\n<h5>3. Importance of Working with a CPA for FDEs<\/h5>\n<p>Navigating US tax laws as a foreign business owner can be complex. Partnering with a <a href=\"https:\/\/oandgaccounting.com\/staging\/about-me\/\" rel=\"noopener\" target=\"_blank\">qualified CPA <\/a>who specializes in FDEs is crucial to ensure compliance and protect your financial interests. A CPA can:<\/p>\n<ul>\n<li>Guide you through the <a href=\"https:\/\/www.youtube.com\/watch?v=949wTng8E80\" rel=\"noopener\" target=\"_blank\">specific tax and filing requirements<\/a> for your FDE.<\/li>\n<li>Prepare and file the necessary forms accurately and on time.<\/li>\n<li>Advise you on tax-efficient strategies to minimize your tax liability.<\/li>\n<li>Help you maintain proper accounting records and financial reporting.<\/li>\n<li>Assist with any tax audits or inquiries from the IRS.<\/li>\n<\/ul>\n<h5>4. Reputation and Reviews:<\/h5>\n<ul>\n<li><strong>Research and Recommendations:<\/strong> Gather information about the CPA firm&#8217;s reputation through online reviews, professional networks, or referrals from other business owners in similar situations.<\/li>\n<li><strong>Credentials and Licensing:<\/strong> Verify that the CPA is licensed and in good standing with their respective state board.<\/li>\n<\/ul>\n<h5>5. Fees and Pricing Transparency:<\/h5>\n<ul>\n<li><strong>Understand Pricing Structures:<\/strong> Inquire about the CPA&#8217;s fee structure and pricing for the specific services you require. This will help you budget and compare costs among different firms.<\/li>\n<li><strong>Get Written Quotes:<\/strong> Obtain written quotes for services to ensure clarity and avoid surprises.<\/li>\n<\/ul>\n<h5>Recommended CPA Firm: O&#038;G Tax and Accounting<\/h5>\n<p><a href=\"https:\/\/oandgaccounting.com\/staging\/\" rel=\"noopener\" target=\"_blank\">O&#038;G Tax and Accounting<\/a> stands out as a firm with a strong focus on serving foreign-owned single-member LLCs in the US. We offer a comprehensive range of services, including:<\/p>\n<ul>\n<li>Preparation of Forms 1120, 5472, and FBAR<\/li>\n<li>Monthly bookkeeping and accounting<\/li>\n<li>Accounting software recommendations<\/li>\n<li>General accounting services<\/li>\n<li>Consultations and personalized advice<\/li>\n<\/ul>\n<p>We have extensive experience working with FDEs in New Mexico and can help you navigate the complexities of US tax laws. Contact us today to <a href=\"https:\/\/oandgaccounting.com\/staging\/appointment-booking-form\/\" rel=\"noopener\" target=\"_blank\">schedule a consultation<\/a> and discuss your specific needs.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>QUESTION: How to Find a CPA for a Foreign-Owned Disregarded Entity in New Mexico? I am a non-resident in the US and the sole proprietor of an LLC company in New Mexico. My LLC is a foreign-owned disregarded entity (FDE) for tax purposes and I have to file Forms 1120 and 5472 with the IRS, &hellip; <a href=\"https:\/\/oandgaccounting.com\/staging\/resources\/find-the-right-cpa-for-your-foreign-owned-llcs-in-new-mexico-expert-guide-for-fdes\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Find the Right CPA for Your Foreign-Owned LLC in New Mexico: Expert Guide for FDEs&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":24,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"default_withchat.php","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Find the Right CPA for Your Foreign-Owned LLC in New Mexico: Expert Guide for FDEs - O&amp;G Tax and Accounting<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/oandgaccounting.com\/staging\/resources\/find-the-right-cpa-for-your-foreign-owned-llcs-in-new-mexico-expert-guide-for-fdes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Find the Right CPA for Your Foreign-Owned LLC in New Mexico: Expert Guide for FDEs - O&amp;G Tax and Accounting\" \/>\n<meta property=\"og:description\" content=\"QUESTION: How to Find a CPA for a Foreign-Owned Disregarded Entity in New Mexico? 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