Each year, payment platforms are required to report to the IRS any customer who received more than $5,000 during the fiscal year. This is done through Form 1099-K, where one copy is sent to the IRS and another is usually emailed to the recipient. Although the official reporting threshold starts at $5,000 annually, platforms usually […]
Feeling Unsupported Managing Your U.S. Company? Learn How to Migrate Your Accounting and Registered Agent
Opening a company in the U.S. has become easier and more accessible in recent years thanks to 100% online platforms. However, many entrepreneurs who used those services to get started often find themselves missing something critical: ongoing, personalized support. This raises a common question: Can I switch accountants or migrate my accounting to another provider? […]
EIN in a Business Day? Not So Fast…
Some online services claim they can obtain an Employer Identification Number (EIN) in just one business day—even for U.S. companies owned by non-residents. This might sound tempting, but it doesn’t apply to U.S.-registered companies such as LLCs. If you’re considering opening a business in the U.S., it’s essential to understand how the EIN application process […]
Expand into Latin America with Mercado Libre Global Selling
Latin America has emerged as one of the fastest-growing e-commerce markets in the world. Countries like Brazil, Mexico, Colombia, and Chile are experiencing a significant increase in online shoppers, making this region a promising landscape for international sellers. Mercado Libre, the leading e-commerce platform in the region, offers a robust solution for global businesses to […]
BOI Report Updates: FinCEN Eliminates Mandatory Reporting for U.S. Companies
As a foreign entrepreneur expanding into the U.S. market, staying on top of regulatory changes is crucial. Recently, the Financial Crimes Enforcement Network (FinCEN) released updated guidelines regarding Beneficial Ownership Information (BOI) reporting, and we have some important news to share. What’s Changed with FinCEN’s BOI Reporting Rules? After a thorough review of the new […]
Can I Register for a Google Business Profile Using a Virtual Address?
If you’re wondering whether a virtual address can be used to create a Google Business Profile, unfortunately, the short answer is no. Google Business Profile (formerly Google My Business) is designed for businesses with a local presence, such as stores, restaurants, or service providers like electricians or landscapers that operate in a specific service area. […]
Getting ready for Black Friday 2024 in the US
The best date for sales is coming up faster than you think: November 29th, 2024. Getting ready for Black Friday in the US is a must to succeed during the high season. This article will show you how to prepare for a profitable day: in 2023, it racked up more than $9.8 billion with online […]
How To Succeed Selling on Marketplaces in the US – Get To Know B.O.B’s Case
Get to know how the Brazilian clean beauty brand B.O.B expanded internationally by starting to sell on marketplaces in the USA.
How to issue an invoice in 2024? Learn how to organize your company finances
Content updated in January 2024 An invoice is a financial description of the products or services provided to a customer and the corresponding payment due. Understanding how this document works and what you need to issue an invoice is crucial for anyone planning to do business overseas. Many business owners who opt for expanding their […]
The Ultimate Guide to Tax Season
At Globalfy, when we talk about Tax Season, we integrate two major declarations: Income Tax and State Renewal. To better organize the proceedings, we start preparing months before to ensure that, at the beginning of each year, we have all of our client’s taxes delivered to keep their companies in compliance with the American Government. Take […]