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Frequently Asked Questions

What is the difference between an LLC and a Corporation?

An LLC offers flexible management and tax benefits, while corporations have stricter regulations but allow for easier fundraising through stocks.

Yes, non-residents can form a US-based company without a Social Security Number.

Costs vary depending on the state and entity type; they typically range from $50 to $500 for state fees, plus HOB’s service fees.

Yes, a US address is generally required for registration. HOB offers virtual mailbox services if needed.

Delaware, Wyoming, and Nevada are popular for their business-friendly regulations.

These are official documents filed with the state to legally establish your business.

It involves drafting an operating agreement, registering with the state, and obtaining an EIN.

Yes, but you’ll need to register as a foreign entity in additional states.

S Corps allow pass-through taxation, while C Corps are taxed at both the corporate and shareholder levels.

Company registration doesn’t expire, but you need to file annual reports and pay any required fees.

What is an EIN used for?

An EIN is used for tax filing, opening business bank accounts, and hiring employees

If you hire employees, operate as a corporation or partnership, or file excise taxes, you need an EIN.

For international clients, a completed Form SS-4 is required. Domestic clients need basic business information.

Yes, non-residents can apply for an EIN using a foreign TIN (Taxpayer Identification Number).

Yes, for domestic applicants. International applicants need to apply via mail or fax.

Yes, an EIN is a type of Tax ID specifically for businesses.

Domestic applications can be processed instantly online. International applications take 1–2 weeks.

Yes, the same EIN can be used for all accounts linked to the business.

Yes, you can request changes through the IRS by submitting a letter or Form 8822-B.

No, an EIN doesn’t expire and remains valid even if the business becomes inactive.

What are the benefits of a US bank account for non-residents?

A US bank account allows smoother transactions, lower fees, and access to global markets.

We work with banks such as Mercury, Relay, Payoneer, and Wise.

No, some banks allow remote account opening for non-residents

Typically, you need an EIN, company formation documents, and identification.

Mercury is a full-fledged US business bank account, while Wise specializes in multi-currency transactions.

It depends on the bank. Many online banks like Mercury have no minimum deposit requirements.

Yes, we specialize in setting up accounts tailored for e-commerce and online businesses.

Some banks charge transaction fees, while others, like Mercury, offer free basic transactions.

Yes, most US banks integrate seamlessly with payment gateways like Stripe and PayPal.

It typically takes 1–3 business days once all required documents are submitted.

What is a registered agent?

A registered agent receives legal and tax documents on behalf of your business.

Yes, most states require a registered agent for compliance purposes.

Yes, but you must have a physical address in the state of registration and be available during business hours.

Your business risks losing its good standing and could face penalties.

Yes, you can change your registered agent at any time by notifying the state.

Yes, we offer registered agent services in all 50 states.

Fees vary by state but typically range between $50 and $300 annually

Yes, registered agents forward legal and official correspondence to you.

They receive service of process, tax notices, and compliance documents.

Yes, registered agent details are part of the public record.

What is a payment gateway?

A payment gateway enables businesses to accept online payments securely.

We assist with Stripe, PayPal, and other major providers.

While not always required, having a US bank account improves compatibility and lowers transaction fees.

Yes, we integrate payment gateways with websites, e-commerce platforms, and accounting software.

A business bank account, EIN, and proof of business registration are typically required.

PayPal specializes in consumer transactions, while Stripe is built for businesses, offering extensive customization options.

Yes, non-residents can use services like Stripe Atlas or international PayPal accounts.

It depends on the provider. Stripe and PayPal primarily charge transaction-based fees with no monthly fees for basic accounts.

Most gateways process multiple currencies, including USD, EUR, GBP, and more.

Yes, we guide you on enabling advanced fraud detection tools offered by payment gateways.

What is a Certificate of Good Standing?

t’s a document issued by the state certifying that your business complies with state requirements

It is often needed when applying for loans, entering contracts, or expanding into other states.

HOB requests it from the state agency where your business is registered.

Not always, but it’s essential for maintaining credibility and conducting certain business activities.

Costs vary by state but typically range from $10 to $50.

Yes, certificates often have a validity of 30–90 days, depending on the state.

No, your business must first resolve any compliance issues.

It includes the business name, registration number, and a statement of compliance.

Processing times vary by state but usually take 2–7 business days.

No, some states refer to it as a Certificate of Existence or Status.

What is an annual report?

It’s a document updating the state on your business’s activities, ownership, and compliance status.

Most registered business entities, such as LLCs and corporations, must file annually.

Ownership details, addresses, registered agent information, and operational updates.

Failure to file can result in penalties, loss of good standing, or even administrative dissolution.

Deadlines vary by state, often based on the anniversary of formation.

Fees vary by state and entity type, typically ranging from $20 to $500.

Yes, we handle the preparation and filing of annual reports.

Yes, you can update most information in the annual report.

No, it’s filed with the state where your business is registered.

Yes, we offer compliance tracking services to ensure you meet all deadlines.

What bookkeeping platforms do you support?

We support QuickBooks, Xero, Wave, Excel, and Zoho Books.

Services include transaction categorization, reconciliation, reporting, and financial statement preparation.

Yes, we specialize in cleaning up messy financial records.

Ideally, bookkeeping should be updated weekly or monthly.

Software helps, but a bookkeeper ensures accuracy and compliance.

Outsourcing saves time, reduces errors, and ensures compliance with tax laws.

Yes, we can integrate payroll systems and ensure accurate records.

We prioritize security by using encrypted systems and adhering to strict confidentiality practices.

Yes, we provide tailored financial reports to suit your business needs.

Absolutely, we ensure your books are tax-ready.

What types of taxes do you file?

We handle US resident and non-resident taxes, business taxes, and tax extensions.

Yes, we assist with non-resident tax filings, including ITIN applications.

Yes, we handle extensions for individuals and businesses.

Personal taxes are due April 15, and business tax deadlines vary by entity type.

Yes, we identify applicable deductions to minimize your tax liability.

W-2s, 1099s, income statements, and relevant receipts are common requirements.

Yes, we handle both federal and state tax filings.

S Corps have pass-through taxation, while C Corps are taxed at both corporate and shareholder levels.

Yes, we specialize in helping foreign businesses meet US tax obligations.

Yes, we assist with audit preparation and representation if needed.

What is an ITIN?

An ITIN (Individual Taxpayer Identification Number) is for individuals without an SSN to file taxes.

Non-resident aliens, resident aliens, dependents, spouses, and foreign nationals receiving payments.

Processing typically takes 6–8 weeks.

Identification (e.g., passport) and a completed W-7 form are required.

No, an ITIN is necessary for filing if you don’t qualify for an SSN.

Yes, ITINs not used on a tax return for three consecutive years will expire.

No, ITINs are solely for tax purposes.

Yes, we assist with ITIN renewals.

The IRS doesn’t charge a fee, but HOB charges a service fee for assistance.

Yes, foreign students and researchers can apply if required for tax purposes.

What is BOI Filing?

BOI Filing is the process of submitting information about the beneficial owners of a company, as required by the Corporate Transparency Act (CTA).

A beneficial owner is any individual who owns or controls 25% or more of a company or exercises significant control over it.

Most corporations, LLCs, and other similar entities registered in the US must file BOI reports. Exemptions apply to certain entities, like large operating companies and governmental bodies.

You must provide details such as the beneficial owner’s full name, date of birth, address, and a government-issued identification number.

Yes, some entities like publicly traded companies, banks, and tax-exempt organizations are exempt from BOI filing.

New entities formed after January 1, 2024, must file within 30 days of formation. Existing entities must file by January 1, 2025.

Non-compliance can result in penalties, including fines of up to $500 per day and potential criminal charges.

Yes, we ensure accurate and timely BOI filings to help you comply with the Corporate Transparency Act.

Yes, any changes in beneficial ownership or company details must be reported within 30 days.

BOI data is kept confidential and accessible only to authorized government agencies.

What is a Reseller Certificate?

A Reseller Certificate, also known as a Sales Tax Exemption Certificate, allows businesses to purchase goods tax-free for resale purposes.

Any business that resells products, such as retailers, wholesalers, or distributors, needs a Reseller Certificate to avoid paying sales tax on inventory purchases.

You must apply through the state’s tax authority where your business is registered. HOB can assist with the application process.

Generally, Reseller Certificates are state-specific. However, some states accept Multistate Tax Commission (MTC) certificates.

Typically, you need your business name, EIN, state tax ID, and details about the nature of your business.

Processing times vary by state but usually take 1–2 weeks.

Yes, most states require annual or periodic renewal. Expiration dates vary by state.

No, Reseller Certificates are generally used for tangible goods purchased for resale, not services.

Misuse, such as purchasing goods for personal use, can result in penalties, back taxes, and revocation of the certificate.

Yes, we guide you through state-specific rules and ensure you meet all compliance requirements.

Yearly Package

$69

Registered Agent Service + Virtual Mailing/Business Address: $69 per year
State Annual Report Fees: Varies by state