26 episodes

Welcome to MyUSACorporation!

When we founded the company early in 2009 our goal was simple - to make it easier for our fellow entrepreneurs at home and around the world to start their own businesses in the United States.

Rapidly growing, our company by the time of this writing in summer 2013 has helped over 10,000 entrepreneurs with their various business filing needs - services as diverse as forming and dissolving their companies, obtaining licenses and tax ID, getting their company documents certified for both domestic and foreign use, and much more.

As founders of MyUSACorporation.eu, we harnessed our knowledge of small business, American administrative system, as well as our technical expertise in order to create this service - intended to be the best of its kind.

Easy, Friendly, Affordable

MyUSACorporation Alexander Parks

    • Business

Welcome to MyUSACorporation!

When we founded the company early in 2009 our goal was simple - to make it easier for our fellow entrepreneurs at home and around the world to start their own businesses in the United States.

Rapidly growing, our company by the time of this writing in summer 2013 has helped over 10,000 entrepreneurs with their various business filing needs - services as diverse as forming and dissolving their companies, obtaining licenses and tax ID, getting their company documents certified for both domestic and foreign use, and much more.

As founders of MyUSACorporation.eu, we harnessed our knowledge of small business, American administrative system, as well as our technical expertise in order to create this service - intended to be the best of its kind.

Easy, Friendly, Affordable

    US Taxation

    US Taxation

    U.S. Taxation for Foreign Entrepreneurs

    What Is Covered Here

    Let’s start from a little disclaimer: U.S. taxation of nonresidents can be a fairly complex issue and involves many specific fact points that determine if the non-residents are subject to US taxation or not. This article attempts to capture the most typical scenarios and analyze them in the context of current (2014-2016) U.S. taxation rules.

    It is impossible to know your specific tax obligations without a lot more information about your U.S. related business, so please use the information presented here for reference only. If you need more specific tax advice refer to the information at the end of this article.

    Ok, now that we have cleared this very important point, let’s move on and analyze a few of the most common cases. If you don’t find your case among those listed here no worries - just ask your questions here and we will try to help.

    https://www.myusacorporation.eu/taxes.html

    #MyUSACorporation

    • 27 min
    What is Limited Liability and why it is important?

    What is Limited Liability and why it is important?

    What is Limited Liability?

    The best way to explain limited liability is this - you risk what you put in. In other words, limited liability is a way to make sure that a person who is engaging in business does not risk his or her personal possessions in case the business fails. Any investor, partner, or member of the company that by law has limited liability cannot be made responsible for any unfulfilled company obligations and debts that are more than the amount that the person has invested.

    Jack and Jill

    Here is a simple comparison. Jack and Jill are friends. Jack is a handy guy and Jill is a great cook. To earn money from their talents, both start their own business. Jack earns his living by doing renovations. He bought his own equipment and simply advertises his services under his own name. Jack is a sole proprietor.

    Jill decided to open a bakeshop. Before going into business, however, Jill has formed a small corporation (an S-Corporation), called Jill's Cakes, Inc. Jill invested her savings into Jill's Cakes, Inc. as a starting capital and then bought her baking equipment and leased her shop on behalf of her corporation. So long as things go well for Jack and Jill there are almost no differences between the two ways of doing business.

    As soon as things turn sour though, the differences become apparent. One day, Jack mopped the floor right before leaving the apartment he just painted, but forgot to put up a sign. The owner walked in, slid on the wet floor and broke an ankle. He is suing Jack for medical expenses and lost wages. Jill accidentally dropped a peanut in a wrong batch of batter and caused a severe allergy attack in one of her customer. That customer is suing her for medical bills and pain and suffering.

    What is at risk for Jack and Jill? Jack is risking everything he owns - his work equipment, his truck, his house, his personal belongings. So long as there is a judgment against him, Jack must sell anything he owns to pay it. Jill is risking only her business assets - her cooking equipment, her cash reserves, and anything else owned by Jill's Cakes, Inc. But her personal things, such as her car and her apartment, are safe. Her business may become bankrupt, but her life will not be (completely) destroyed.

    Of course, this story describes a worst case scenario. Many businesses prosper without many troubles. But many also fail, and it is so easy for a business owner to take advantage of limited liability that everyone should do it.

    https://www.myusacorporation.eu/limited-liability.html

    MyUSACorporation is your reliable partner since 2009.

    • 4 min
    How to form an LLC (Limited Liability Company)

    How to form an LLC (Limited Liability Company)

    A Limited Liability Company, or an LLC, is a relatively new business structure, that first appeared in Wyoming in 1977, and is now recognized by every State's statute and the IRS.

    An LLC is neither a partnership nor a corporation, but a distinct type of business structure that offers an alternative to those two traditional entities by combining the corporate advantages of limited liability with the advantages of pass-through taxation usually associated with partnerships.

    Limited Liability Companies are becoming more and more popular, and it is easy to see why. In addition to combining the best features of partnerships and corporations, LLCs avoid the main disadvantages of both of those business structures. Limited liability companies are much more flexible and require less ongoing paperwork than corporations to maintain them, while avoiding the dangers of personal liability that come with the partnership. Some examples of famous LLCs may surprise you - both Amazon and Chrysler are organized as limited liability companies.

    https://www.myusacorporation.eu/llc.html

    MyUSACorporation is your reliable partner since 2009.

    • 8 min
    How To Form An LLC Or Incorporate In The USA (from Anywhere In The World)

    How To Form An LLC Or Incorporate In The USA (from Anywhere In The World)

    Do you know that you can form your company in the USA from anywhere in the World? Completely remote - You don't need to visit the United States. Yes, it is real. Just visit our website:

    https://www.myusacorporation.eu

    Please select "Start an LLC" or "Incorporate" button: Learn everything about this business entity type and press "Start here" button to get a price quote and to form your LLC or Corporation.

    Just select the State, Owners are non U.S. persons/companies) and desired package (Recommended is the best choice) and you will get a Price Quote on the next step. Just go forward and fill our online Order form to set up your Company. Yes, it's easy.

    • 50 sec
    Start your company in the USA online

    Start your company in the USA online

    Do you know that you can form your company in the USA from anywhere in the World?

    Completely remote - You don't need to visit the United States.

    Yes, it is real. Just visit our website:

    https://www.myusacorporation.eu

    Please select "Start an LLC" or "Incorporate" button:

    Learn everything about this business entity type and press "Start here" button to get a price quote and to form your LLC or Corporation.

    Just select the State, Owners are non U.S. persons/companies) and desired package (Recommended is the best choice) and you will get a Price Quote on the next step.

    Just go forward and fill our online Order form to set up your Company. Yes, it's easy.

    MyUSACorporation is your reliable partner since 2009.

    #MyUSACorporation #LLC #Corporation #Incorporate

    • 55 sec
    Registering Business in Illinois

    Registering Business in Illinois

    If you decided to open a new business that will be based in Illinois you can choose from several options:

    Sole Proprietorship: Sole owners of Illinois-based businesses could opt for sole proprietorship as the easiest form of business organization. Not the most recommended, given the liability a sole proprietor assumes as a result of owning a business. No registration with Illinois Secretary of State is necessary, but it is recommended to register an Assumed Business Name (DBA), and if you plan to hire employees then also obtain an EIN.

    REMEMBER: Illinois requires to publish the Assumed Business Name Certificate of Registration Notice in a general circulation newspaper in the county of registration. Learn more about Illinois publication requirements here.

    Single Member LLC: Limited liability company, as the name suggests, is an entity that allows its owners to limit the liability of the business to the entity itself, shielding the owners' personal assets. This type of entity is recommended for most small businesses.

    By default your LLC will be taxed as "disregarded entity", meaning you will file your LLC tax return as part of your personal tax return. Keep in mind though - LLC is a flexible entity, which means you have the option of electing it to be taxed as S-Corp (assuming you are a U.S. person) or C-Corp. Learn more about LLC here, and about the details of forming LLC in Illinois here.

    KEEP IN MIND: Illinois is one of the two states (the other is New York) where the cost of forming LLC is much higher than cost of forming a corporaiton. The reason for such price difference in Illinois is simply the difference in state filing fees - $325 as of this writing.

    Corporation: You can also form a corporation and be a sole shareholder with 100% of all shares. Corporations have more formalities than LLCs (for example in Illinois you are required to have bylaws and maintain minutes of meetings in corporate records), but provide similar limited liability protection. That's one of the reasons this entity type is often more suitable for bigger companies, or those who seek major investment.

    Corporations can be taxed as S-Corp or C-Corp, with each form of taxation having its pros and cons. Keep in mind, you can elect your corporation to be S-Corp only if you, as the sole shareholder, are a U.S. person.

    Partners

    General Partnership: Like sole proprietorship, this entity type does not require registration with the Illinois Secretary of State, but it also does not protect the owners from business liability, and therefore is usually not recommended. A General Partnership needs to register an Assumed Business Name (DBA), and obtain an EIN.

    Multiple Member LLC: like Single Member LLC for sole owner, Multiple Member LLC is often the entity of choice for small and new businesses with more than one partner.

    Corporation: Since corporation can have many shareholders, and transferring ownership is relatively easy (though share transfer) corporation might be a good choice of entity for business with partners.

    Keep in mind though - S Corporations are limited to 100 shareholders who must be physical U.S. persons. That means corporations owned (partially or fully) by non-U.S. persons or legal entities, cannot be elected as S-Corp, and therefore subject to double taxation of an C-Corp. In cases like that it would be recommended to consider choosing LLC instead.

    Limited Partnerships: Limited partnerships come in different forms, depending on the state (LP, LLP, LLLP). Though Limited Partnerships have their own purpose and place, for most cases we believe an LLC would serve its owners well enough, therefore at this point we do not cover Limited Partnerships.

    https://www.myusacorporation.eu/illinois.html

    MyUSACorporation is your reliable partner since 2009.

    • 5 min

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