Service Detail
U.S. Accounting, Tax Basics & Business Support
Running a U.S. business as a Turkish entrepreneur involves tax obligations that are different from Turkey's system. Federal taxes, state taxes, sales tax, quarterly estimated payments, and foreign owner reporting requirements can be overwhelming without proper guidance. BizHouston helps new U.S. entities understand their accounting obligations and connects them with qualified U.S. CPAs — we do not provide tax advice ourselves, but we make sure you're asking the right questions.
Who Is This For?
- Newly formed U.S. LLCs and Corporations owned by Turkish nationals
- E-2 visa businesses needing to demonstrate financial viability for visa renewal
- EB-5 investors who must document job creation and business operations for I-829
- Foreign-owned single-member LLCs with U.S. tax filing obligations
- Turkish businesses with U.S. operations needing bookkeeping setup
- Companies that need to understand the difference between a CPA, bookkeeper, and business advisor
What You Get
- Understand U.S. federal and Texas state tax obligations for your entity type
- Know the difference between LLC pass-through taxation and C-Corp double taxation
- Understand Form 5472 (foreign owner reporting) and FBAR obligations if applicable
- Get matched with a qualified U.S. CPA experienced with foreign-owned businesses
- Set up bookkeeping software (QuickBooks, Xero) appropriate for your business
- Receive an annual compliance calendar: quarterly taxes, annual reports, renewal deadlines
- Understand what financial records to maintain for E-2 renewal or EB-5 I-829 filing
Our Process
1
Entity & Ownership Review
We review your company type (LLC, S-Corp, C-Corp), ownership structure (single-member vs. multi-member, foreign vs. domestic owner), and business activity to map out what tax forms and obligations apply to your specific situation.
2
Federal Tax Obligations Overview
Foreign-owned single-member LLCs must file Form 5472 (Information Return of a 25% Foreign-Owned U.S. Corporation) annually — failure to file carries a $25,000 penalty. We explain this and other common obligations: quarterly estimated tax payments, self-employment tax, and payroll tax basics.
3
Texas State Tax Overview
Texas has no state income tax — a major advantage for businesses and individuals. However, Texas has a Franchise Tax (margin tax) applicable to most businesses, and a Sales Tax (8.25% in most of Houston) that applies to retail sales. We explain what applies to your business and help you register for the right tax accounts.
4
CPA Referral & Coordination
We connect you with a U.S. CPA experienced in working with Turkish and international business owners. We help you prepare for your first CPA meeting — organizing your entity documents, EIN, bank statements, and business summary so the consultation is efficient and productive.
5
Bookkeeping Setup
We recommend and help set up appropriate bookkeeping software for your business: QuickBooks Online for most service businesses, or Xero for businesses with international transactions. Proper bookkeeping from day one prevents costly reconciliation issues and ensures your financial statements are accurate for E-2 renewal or EB-5 I-829 purposes.
6
Compliance Calendar
We provide a Texas LLC/Corp compliance calendar covering: quarterly estimated federal taxes (April, June, September, January), Texas Franchise Tax report (May 15 annual), annual report filings, registered agent renewal, and key IRS deadlines. For E-2 holders, we also note visa renewal financial documentation requirements.
Frequently Asked Questions
Does Texas have a state income tax?
No. Texas is one of only nine U.S. states with no state income tax. This is a significant financial advantage for both businesses and individuals relocating to Houston. However, Texas does have a Franchise Tax (for businesses) and a Sales Tax (8.25% in most of Houston), so tax planning is still important.
What is Form 5472 and who needs to file it?
Form 5472 is an IRS information return required for U.S. corporations that are 25% or more foreign-owned, and for foreign corporations engaged in U.S. trade or business. A foreign-owned single-member LLC (which is treated as a disregarded entity for U.S. tax purposes but still has a Form 5472 filing requirement) must file this form annually. The penalty for failure to file is $25,000 per year. This is one of the most commonly overlooked obligations for Turkish entrepreneurs with U.S. LLCs.
What financial records do I need to keep for E-2 visa renewal?
For E-2 visa renewal, you need to demonstrate that your business is not marginal — meaning it generates income well beyond just supporting you and your family. You should maintain: bank statements showing business revenue, profit and loss statements, payroll records (if you have employees), lease agreements, and any business tax returns. A CPA-prepared financial statement significantly strengthens renewal applications.
Does BizHouston provide tax or accounting services directly?
No. BizHouston provides business consulting and refers clients to qualified CPAs. We do not provide tax advice, prepare tax returns, or offer accounting services ourselves. Our role is to ensure you understand what questions to ask and to connect you with the right professionals. This referral service is part of all BizHouston consulting engagements.
How much does a U.S. CPA cost for a small business?
For a typical small LLC with basic bookkeeping and annual tax return filing, expect $1,500–$4,000/year with a CPA. More complex situations (foreign owner reporting, payroll, multi-state) may cost $4,000–$10,000/year. Many CPAs also offer monthly bookkeeping packages at $200–$500/month. Houston has many CPAs experienced with international business owners.
The information provided on this website is for general informational purposes only and does not constitute legal advice. BizHouston / Orsa Consulting LLC is not a law firm unless otherwise specifically stated. For official and current information, users should verify details through official sources such as USCIS, the U.S. Department of State, IRS, state agencies, and other relevant government authorities. For legal advice, users should consult a licensed immigration attorney or qualified legal professional.
Get Consulting
Get personalized guidance with a 30-minute paid consultation.
Book Consultation✓ 30-min Google Meet
✓ Personalized roadmap
✓ Secure Stripe payment