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I am thinking of setting up U.S.-based consulting business & thinking of doing work for a company based out of China.

I would be handling the majority of the work in the U.S. and it may possibly involve some travel overseas.

My question is: Can they pay me by wire transfer to my personal account, and then I file for all of the taxes as a U.S. company without any issues?

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    I don't know the answer, but if you're setting up a company, why not take the extra few minutes and open a bank account for the company? They can transfer funds to that account and you'll avoid the whole issue. It will also make your accounting a lot simpler, especially in the event of a tax audit. – Nate Eldredge Nov 11 '16 at 19:07
  • They could, you shouldn't request that. – CQM Nov 11 '16 at 22:18
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It seems that you're complicating things quite a bit. Why would you not create a business entity, open one or more bank accounts for it, and then have the money wired into those accounts? If you plan on being a company then set up the appropriate structure for it.

In the U.S., you can form an S-corporation or an LLC and choose pass-through taxation so that all you pay is income tax on what you receive from the business as personal income. The business itself would not have tax liability in such a case.

Co-mingling your personal banking with that of your business could create real tax headaches for you if you aren't careful, so it's not worth the trouble or risk.

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