u/2fast2reddit

I’m an expat business owner and my books are a disaster. The June 15th deadline is terrifying me right now.

I feel completely stupid even typing this out, but I need some brutal honesty and advice from people who have been doing this longer than me.

A little over a year ago, I started an online consulting business (single-member LLC). The good news is that it took off faster than I expected, and I’ve been working remotely from Mexico and Spain for the last 12 months.

The bad news: My financial admin is an absolute disaster.

Because I was constantly moving and focused entirely on getting clients, I completely neglected the accounting side.

  • I didn’t open a dedicated business bank account until month six.
  • I’ve been paying for business software, flights, and contractor invoices out of my personal checking account and credit cards.
  • I tried logging into QuickBooks last week, saw hundreds of uncategorized transactions from different countries in multiple currencies, and immediately closed the laptop out of pure anxiety.

Since I’m out of the country, my automatic tax filing deadline is June 15th, which is literally three weeks away. I haven’t filed, I have no idea what my actual profit is, and I’m scared to death of triggering an IRS audit because of the foreign travel aspect.

Has anyone else dug themselves into a hole like this?

How do I even start untangling this mess in three weeks? At this point, I have some cash set aside and I am more than willing to just pay a professional to take this completely off my hands, fix the books, and file before June 15.

Does anyone have recommendations for a solid company or CPA that deals with this kind of emergency cleanup, especially for remote/online businesses? I don't want to use TurboTax, I need an actual firm that understands expat taxes to save me here.

reddit.com
u/2fast2reddit — 1 day ago
▲ 2 r/tax

I’m an expat business owner and my books are a disaster. The June 15th deadline is terrifying me right now.

I feel completely stupid even typing this out, but I need some brutal honesty and advice from people who have been doing this longer than me.

A little over a year ago, I started an online consulting business (single-member LLC). The good news is that it took off faster than I expected, and I’ve been working remotely from Mexico and Spain for the last 12 months.

The bad news: My financial admin is an absolute disaster.

Because I was constantly moving and focused entirely on getting clients, I completely neglected the accounting side.

  • I didn’t open a dedicated business bank account until month six.
  • I’ve been paying for business software, flights, and contractor invoices out of my personal checking account and credit cards.
  • I tried logging into QuickBooks last week, saw hundreds of uncategorized transactions from different countries in multiple currencies, and immediately closed the laptop out of pure anxiety.

Since I’m out of the country, my automatic tax filing deadline is June 15th, which is literally three weeks away. I haven’t filed, I have no idea what my actual profit is, and I’m scared to death of triggering an IRS audit because of the foreign travel aspect.

Has anyone else dug themselves into a hole like this?

How do I even start untangling this mess in three weeks? At this point, I have some cash set aside and I am more than willing to just pay a professional to take this completely off my hands, fix the books, and file before June 15.

Does anyone have recommendations for a solid company or CPA that deals with this kind of emergency cleanup, especially for remote/online businesses? I don't want to use TurboTax, I need an actual firm that understands expat taxes to save me here.

reddit.com
u/2fast2reddit — 1 day ago

I’m an expat business owner and my books are a disaster. The June 15th deadline is terrifying me right now.

I feel completely stupid even typing this out, but I need some brutal honesty and advice from people who have been doing this longer than me.

A little over a year ago, I started an online consulting business (single-member LLC). The good news is that it took off faster than I expected, and I’ve been working remotely from Mexico and Spain for the last 12 months.

The bad news: My financial admin is an absolute disaster.

Because I was constantly moving and focused entirely on getting clients, I completely neglected the accounting side.

  • I didn’t open a dedicated business bank account until month six.
  • I’ve been paying for business software, flights, and contractor invoices out of my personal checking account and credit cards.
  • I tried logging into QuickBooks last week, saw hundreds of uncategorized transactions from different countries in multiple currencies, and immediately closed the laptop out of pure anxiety.

Since I’m out of the country, my automatic tax filing deadline is June 15th, which is literally three weeks away. I haven’t filed, I have no idea what my actual profit is, and I’m scared to death of triggering an IRS audit because of the foreign travel aspect.

Has anyone else dug themselves into a hole like this?

How do I even start untangling this mess in three weeks? At this point, I have some cash set aside and I am more than willing to just pay a professional to take this completely off my hands, fix the books, and file before June 15.

Does anyone have recommendations for a solid company or CPA that deals with this kind of emergency cleanup, especially for remote/online businesses? I don't want to use TurboTax, I need an actual firm that understands expat taxes to save me here.

reddit.com
u/2fast2reddit — 1 day ago

I’m an expat business owner and my books are a disaster. The June 15th deadline is terrifying me right now.

I feel completely stupid even typing this out, but I need some brutal honesty and advice from people who have been doing this longer than me.

A little over a year ago, I started an online consulting business (single-member LLC). The good news is that it took off faster than I expected, and I’ve been working remotely from Mexico and Spain for the last 12 months.

The bad news: My financial admin is an absolute disaster.

Because I was constantly moving and focused entirely on getting clients, I completely neglected the accounting side.

  • I didn’t open a dedicated business bank account until month six.
  • I’ve been paying for business software, flights, and contractor invoices out of my personal checking account and credit cards.
  • I tried logging into QuickBooks last week, saw hundreds of uncategorized transactions from different countries in multiple currencies, and immediately closed the laptop out of pure anxiety.

Since I’m out of the country, my automatic tax filing deadline is June 15th, which is literally three weeks away. I haven’t filed, I have no idea what my actual profit is, and I’m scared to death of triggering an IRS audit because of the foreign travel aspect.

Has anyone else dug themselves into a hole like this?

How do I even start untangling this mess in three weeks? At this point, I have some cash set aside and I am more than willing to just pay a professional to take this completely off my hands, fix the books, and file before June 15.

Does anyone have recommendations for a solid company or CPA that deals with this kind of emergency cleanup, especially for remote/online businesses? I don't want to use TurboTax, I need an actual firm that understands expat taxes to save me here.

reddit.com
u/2fast2reddit — 1 day ago