nitin
Grand Guru
- Joined
- Nov 30, 2018
- Messages
- 583
So I was running some really good volume last year when I finally realised that I was losing a lot of money in conversion, transaction, markup etc charges (from INR to USD and vice-versa). For the first few months, I casually ignored the cost but when I looked further into my accounts, it was $$$$ - wasting 4 figures (that would have been extra profit) for no reason.
If you are in the same place, wasting money on conversions, markup etc, just file an LLC in USA.
It is damn easy - I did it from https://www.firstbase.io (At that time, the process took 45 business days due to covid - The delay was from the IRS side - Maybe its faster now)
(I am not affiliated to firstbase.io in any way, I just used their service and was happy with them.)
They provide you all the documents and help with a virtual bank account - From there you can carry all your business cashflow transactions.
If you are running small volume, ignore this post.
If you are running big volume, it will be worth it (As you'd then also be able to also keep running profitable but
If you are in the same place, wasting money on conversions, markup etc, just file an LLC in USA.
It is damn easy - I did it from https://www.firstbase.io (At that time, the process took 45 business days due to covid - The delay was from the IRS side - Maybe its faster now)
(I am not affiliated to firstbase.io in any way, I just used their service and was happy with them.)
They provide you all the documents and help with a virtual bank account - From there you can carry all your business cashflow transactions.
If you are running small volume, ignore this post.
If you are running big volume, it will be worth it (As you'd then also be able to also keep running profitable but
