doola blog category: Taxes
Understanding Closed Corporations: Key Facts and Benefits
What do Ernst & Young, PricewaterhouseCoopers, Mars Inc., SC Johnson, Publix, Hearst Corporation, Chick-fil-A, and Hobby Lobby have in common? They are all large US-based closed corporations. A closed corporation, sometimes called a closely held corporation, is a type of business entity where the shareholders, directors, and officers are often the same people. In that…
ECI vs. FDAP: What’s the Difference?
US taxes can feel overwhelming, especially for nonresidents. But, you must file taxes for your US-based income if you’ve established an LLC in the US or other business but are a nonresident alien. Normally, that income falls into one of two categories under IRS criteria: FDAP income or ECI income. The tax ramifications for these…
What Is an Alternative Business Structure for Law Firms?
The alternative business structure (ABS) for law firms offers additional opportunities to expand access to justice for underrepresented communities. It encourages innovation in the way law firms operate. ABS gives attorneys ownership of law firms, allowing them to combine efforts with private equity. Read on to understand alternative business structures and their meaning for your…
How to Grow Your Business with Instagram
Social media and Instagram offer huge opportunities for business growth. Instagram currently has over 2.35 billion monthly active users, and it’s projected to reach over 2.5 billion by the end of 2023. The majority of marketers now use Instagram, along with other social media platforms like Facebook, to build reach and engage target audiences. Instagram…
TikTok Marketing: Tips and Tricks to Boost Your Brand
TikTok has swiftly become a sensation over the years — captivating audiences worldwide with its stream of viral videos. And it’s never been easier to create videos and press publish! However, harnessing the platform’s potential for TikTok marketing can sometimes feel like navigating uncharted waters. In this article, we delve into the most effective tips…
How to Use Facebook Marketing for Small Businesses
Facebook holds the title of the world’s most popular social media platform. It’s little wonder, then that 93% of social media marketers use Facebook for their marketing efforts. However, this doesn’t mean it’s easy to figure out the platform and begin driving sales from day one. There’s a lot of content strategy and getting to…
Can a Foreigner Open an LLC in Florida?
There can be a lot of headaches when it comes to being an entrepreneur as a foreigner.And it’s reasonable to question, can a foreigner open an LLC in Florida? The legal compliance, the paperwork, and even the language barriers can all make it difficult to ensure a smooth process. In this article, we’ll go over…
How Are LLCs Taxed? Your Ultimate Beginner Guide
Want to understand how your LLC is taxed? Discover the rules, the obligations, and key tactics to reduce your taxes as a founder.
Can You Get a Green Card by Opening a Business in the US?
The US is seen as the land of opportunity. The favorable business climate offers ample opportunities to build a thriving business and provide your family with greater opportunities. If you meet certain criteria set out by the US Citizenship and Immigration Services (USCIS), you and your family, including unmarried children under the age of 21,…
Can a Non-US Citizen Own an LLC?
The United States offers a uniquely favorable business structure for small business owners and entrepreneurs: a limited liability company. A limited liability company or an LLC offers privacy protection, personal asset protection, and simplified administration. Can a non-US citizen own an LLC? Yes! If you’re not a US citizen, the great news is that you…
Crossing Borders: How to Start a Business in the US from Canada
Canadian citizens can launch businesses in the US. If you already have a registered Canadian business, you can also register to do business in all 50 states. You can form a limited liability company (LLC) to gain liability protection, a corporation, or launch a sole proprietorship or partnership. Read on to understand how to start…
Delaware LLC Taxation for Non-US Residents
Delaware is one of the most popular states for business entities such as LLCs, especially for non-US residents. It offers strong legal and privacy protection for LLC owners. Delaware is one of the most business-friendly states and there is a certain perceived prestige to say your company is from Delaware. Delaware also doesn’t tax out-of-state…