But wait, it gets even better: doola is tax deductible and pays for itself in months.
Taxpayers can deduct $5,000 of startup costs and $5,000 of organizational costs in the year in which the business begins.
These expenses have to be accounted for in the business books of account to be eligible as a tax expense & the receipts of the same also need to be saved and maintained. Not accounting for these transactions can lead to this benefit being fully missed.
1. Startup Costs – Costs incurred to prepare to enter into the trade or business, to secure suppliers and customers, and to obtain certain supplies.
2. Organizational Costs – Legal and accounting fees, costs of state filings, expenses of meeting with members, directors, shareholders, or partners.
You can see in the chart below which calculates the increased cost and stress it would take for you to do it yourself.
Why go through the headache of stacking multiple platforms when you can save money and accomplish all your needs in one place with doola’s All-in-One solution?
You might be wondering, what do you get for paying $300/month or $1999/year?
Save Time, Money and Stress
Our Total Compliance plan includes everything your new US business will need to stay legal and compliant with the US government, at a fraction of the cost, compared to alternatives or doing it on your own.
This plan includes the following services:
Top Priority Filing
Name Availability Search
Operating Agreement/Corporate Bylaws & other company formation documents
EIN (Tax ID) from the IRS
EIN Expedited Included
Usually costs $300 additional + it will save you 4-5 weeks in your setup process
Guidance in opening a US Business Bank Account
Guidance in opening a US Payment Gateway
Registered Agent Service
Required service as per US laws for 1 year
US Virtual Business Address
To use for client communication and opening of a US bank account for 1 year
US Mailbox Service
To receive documents at your business address for 1 year
US Mail Scan Service
To scan and share the documents received for your LLC for 1 year
Digital Document Access for 1 year
A dedicated Account Manager for 1 year
Annual State Reminders for 1 year
Annual State Filing
State fees have to be paid by you
Self Serve bookkeeping tool with invoicing tools
4 CPA tax consultations/year
IRS Business Tax Reminder
IRS Business Tax Filing
What is the value of the Total Compliance Plan?
You’re not thrown to the wolves after forming your company.
We’ve heard time and time again from founders that after they formed their company, they would feel like they had been left to fend for themselves with zero guidance of what’s next.
They didn’t want a checklist of things to do… they wanted a partner that could guide them, and do it for them.
It helps you start and maintain your business. While we take care of all the unsexy, yet critical back-office work required to keep your business 100% compliant.
And you get a dedicated account manager, along with quarterly CPA consultations so you have a trusted partner with you, each and every step of the way.
Can I upgrade later? Or should I start with Total Compliance?
The majority of founders who work with doola start with Total Compliance. And that’s because the most expensive mistake you can make as an entrepreneur is oftentimes the “cheap” or “easy” decision.
Most founders also start with Total Compliance because staying compliant, and the consequences of not being 100% compliant, is a Type 1 decision:
Jeff Bezos from Amazon talks about Type I and Type II decisions:
Type 1 Decisions: “Some decisions are consequential and irreversible or nearly irreversible – one-way doors – and these decisions must be made methodically, carefully, slowly, with great deliberation and consultation. If you walk through and don’t like what you see on the other side, you can’t get back to where you were before. We can call these Type 1 decisions.”
Type 2 Decisions: “But most decisions aren’t like that – they are changeable, reversible – they’re two-way doors. If you’ve made a suboptimal Type 2 decision, you don’t have to live with the consequences for that long. You can reopen the door and go back through. Type 2 decisions can and should be made quickly by high judgment individuals or small groups.”
The takeaway here is that from day 0, it is critical to set up your business for success and handle all of your compliance needs.
And the truth is, your compliance needs are ongoing and start from day 0. Check out this visual which walks through all of your compliance requirements, and how doola can help you satisfy them, year over year, with doola Total Compliance.
Our Total Compliance plan helps both USA and International Founders save a lot of stress & avoid more than $25,000 in penalties, late fees, and interest as it ensures the following:
1. Your company is active and in good standing with the State.
2. Your company is not at risk of dissolution.
3. Your company is not liable for non-compliance penalties & late fees which can go up to $25,000 + interest.
4. Your track record in the US is clean and you can build good credit in the US which can help you acquire a loan or a US credit card.
5. Your company can do business stress-free and more professionally, as we take care of all your taxes and compliance filing burden.
We have seen founders from around the world become liable to pay very high fees, by making simple tax mistakes and taking on the risk of not being compliant with the IRS.
Subscribing to doola’s Total Compliance plan takes the load off your shoulders and gives you the peace of mind that you have a full-scale team working non-stop!
At doola we not only help you start and grow your company, but we also make sure to keep your LLC in good standing and compliant with the law.
What additional fees do I have to pay?
There are state fees upon formation and annual state fees (which doola can file for you as part of our annual filing process).
Every U.S. LLC and C-Corp is subject to state fees.
These are paid directly to the state you are forming your company in. doola does not make any money from these state fees.
Doola's website is for general information purposes only and
doesn't provide official law or tax advice. For tax or legal advice we are happy to connect
you to a professional in our network! Please see our terms
to reach out with any questions.