IRS

For a foreign-owned U.S. single-member LLC, tax preparation fees typically range from **$500 to $1,500 per year**, depending on the complexity of the "pro forma" Form 1120 and Form 5472. Costs vary based on the number of reportable transactions (e.g., capital contributions, loans, or payments between the owner and the LLC) that must be disclosed. Regarding bookkeeping, I do not provide proprietary software, but I offer professional bookkeeping services to ensure your records are IRS-compliant. Accurate bookkeeping is critical for Form 5472, as the IRS requires precise tracking of all "reportable transactions." I can provide guidance on: 1. **Categorization:** Ensuring personal and business expenses are strictly separated. 2. **Software Setup:** Assisting with the configuration of platforms like QuickBooks or Xero to capture the data needed for annual filings. 3. **Audit Trail:** Maintaining the required documentation for the five-year record-keeping rule associated with Form 5472. Failure to file Form 5472 correctly carries a minimum penalty of **$25,000**, so professional oversight is highly recommended.