Earn 2 Trade the gauntlet

[nickynoes]

Nice job!
How are you doing regarding the ITIN?

I sent the question to Helios and they replied within 20 minutes that I will not need it to receive any part of the profits and that I probably won't even be able to apply for one until I get I receive my tax return. My plan is to stash away 40% of my profits for the tax return in the meantime and then apply for the ITIN and pay the tax return when it is time.

 

[p0box4]

I sent the question to Helios and they replied within 20 minutes that I will not need it to receive any part of the profits and that I probably won't even be able to apply for one until I get I receive my tax return. My plan is to stash away 40% of my profits for the tax return in the meantime and then apply for the ITIN and pay the tax return when it is time.

You do realize you need to pay taxes in both the USA and in Sweden as long as you do not have an ITIN, right?

Make sure to get the ITIN before the end of the year so you can get back the 30% taxes Helios has to withhold from your profit as long as you do not have an ITIN.

You can request an ITIN as soon as you have your contract stating that you are a partner at Helios.

 

[Earn2Trade-Ryan]

You do realize you need to pay taxes in both the USA and in Sweden as long as you do not have an ITIN, right?

Make sure to get the ITIN before the end of the year so you can get back the 30% taxes Helios has to withhold from your profit as long as you do not have an ITIN.

You can request an ITIN as soon as you have your contract stating that you are a partner at Helios.

Helios does not have to withhold anything.

 

[p0box4]

Helios does not have to withhold anything.

Here is a quote from an email you send me Ryan:

"You can withdraw without an ITIN but we'd have to withhold 30% until you get an ITIN (which isn't needed technically until tax time) that proves any tax exempt status. Once you do, we can forward back that 30%."

Edit, i have attached a screenshot i case anyone doesn't believe me

 

[Earn2Trade-Ryan]

Here is a quote from an email you send my Ryan:

"You can withdraw without an ITIN but we'd have to withhold 30% until you get an ITIN (which isn't needed technically until tax time) that proves any tax exempt status. Once you do, we can forward back that 30%."

I understand. That was also several months ago. Things change. Not long after you were no longer with Helios, the Helios CPA stated that generally there is no withholdings because profits on futures are not considered ECI. https://taxmap.irs.gov/taxmap/pubs/p519-014.htm

 

[nickynoes]

You do realize you need to pay taxes in both the USA and in Sweden as long as you do not have an ITIN, right?

Make sure to get the ITIN before the end of the year so you can get back the 30% taxes Helios has to withhold from your profit as long as you do not have an ITIN.

You can request an ITIN as soon as you have your contract stating that you are a partner at Helios.

I have been down this train of thought, in Sweden we have a thing called 'dubbelbeskattningsavtal' with the US which literally translates into double taxation agreement which helps Swedish citizens avoid having to pay taxes twice. I have sent an inquiry to our version of the IRS asking some questions and I am still waiting for a response.

Have you had to get an ITIN?

 

[p0box4]

I have been down this train of thought, in Sweden we have a thing called 'dubbelbeskattningsavtal' with the US which literally translates into double taxation agreement which helps Swedish citizens avoid having to pay taxes twice. I have sent an inquiry to our version of the IRS asking some questions and I am still waiting for a response.

Have you had to get an ITIN?

Unfortunately i lost the account in the second stage after the Gauntlet, however i spent a crazy amount of time to figure things out about the ITIN and other related documents.

I live in Belgium and we also have a tax treaty with the USA, however this tax treaty only applies if you have an ITIN and report taxes to the US government and your own government.

Also make sure that the tax treaty Sweden has with the USA does cover this kind of income. Most likely it will cover it but better be safe than sorry.

I still think E2T and Helios are one of the best funding companies out there, the only reason i didn't went back is because of the complicated situation regarding the ITIN.

You are in good hands at E2T/Helios, just make sure to get a good accountant who has experience in doing business with the USA, you don't wont to get in trouble with IRS.

 

[Earn2Trade-Ryan]

Unfortunately i lost the account in the second stage after the Gauntlet, however i spent a crazy amount of time to figure things out about the ITIN and other related documents.

I live in Belgium and we also have a tax treaty with the USA, however this tax treaty only applies if you have an ITIN and report taxes to the US government and your own government.

Also make sure that the tax treaty Sweden has with the USA does cover this kind of income. Most likely it will cover it but better be safe than sorry.

I still think E2T and Helios are one of the best funding companies out there, the only reason i didn't went back is because of the complicated situation regarding the ITIN.

You are in good hands at E2T/Helios, just make sure to get a good account who has experience in doing business with the USA, you don't wont to get in trouble with IRS.

Shouldn't be too complicated =) You don't need one until you file the tax return and there shouldn't be any withholdings.

 

[p0box4]

Unfortunately i lost the account in the second stage after the Gauntlet, however i spent a crazy amount of time to figure things out about the ITIN and other related documents.

I live in Belgium and we also have a tax treaty with the USA, however this tax treaty only applies if you have an ITIN and report taxes to the US government and your own government.

Also make sure that the tax treaty Sweden has with the USA does cover this kind of income. Most likely it will cover it but better be safe than sorry.

I still think E2T and Helios are one of the best funding companies out there, the only reason i didn't went back is because of the complicated situation regarding the ITIN.

You are in good hands at E2T/Helios, just make sure to get a good accountant who has experience in doing business with the USA, you don't wont to get in trouble with IRS.

Also, keep us up to date about your process if you like. Both regarding the trading and the ITIN and other documents.

If things go well for you i might take another attempt at their Gauntlet.

 

[p0box4]

Shouldn't be too complicated =) You don't need one until you file the tax return and there shouldn't be any withholdings.

Should't i have the ITIN before the end of 2019 to avoid having to pay taxes for 2019?
By the time i have to file my taxes in 2020 the taxable year of 2019 is gone, right?

At least that is how it would work here in Belgium.