Serbinski Accounting Firms

Can one create an S corporation if one's entire business operation, employees, and bank accounts are overseas ?

Schedule C line 26 Wages (less employment credits)
The instruction says "in most cases you are required to file Form W-2, Wage and Tax Statement, for each employee.
For a foreign sole proprietorship, which is located outside the US and all the employees are from that country and are not US residents ...

If a person owns a foreign sole proprietorship, does he/she file Schedule C ?

In the foreign country tax return, a tax payer can use a "norm" calculation where he multiply the revenue by 30% to come up with the net income. So, the tax payer doesn't need to list by the expenses like advertising ...