How to Set Up an LLC for Amazon FBA [2025 LLC Formation Guide]

How to Set Up an LLC for Amazon FBA [2025 LLC Formation Guide] Unknown Speaker: I'm doola. Speaker 1: We'll go ahead and get started if that works with everyone else here. So my name is Riley Johnson. I'm a business formation specialist here at doola. Um, as you can see on the screen here, we'll go over, uh, of course, setting up a us company. If anyone here does not have one already, also doola can help. If you already have an existing us company, you can migrate your company over to doola and we can still help with all the tax compliance and Everything for the company side and then in the second half of our presentation here, Milos from AMZScout is going to go over their software and how they help optimize Amazon sellers accounts. Cool. So just very high level what we'll cover here. We'll go over the basics of opening up a US LLC. That is typically the right structure for running an eCommerce business through Amazon. I'll also go over the other for-profit option, which is considered a C-corporation or C-corp, but it's typically going to be an LLC in most cases. We'll also go over, excuse me, cover the best states for that company to be filed in, both for non-U.S. residents and then of course for U.S. taxpayers. And a clear step-by-step process of how we set up and form the U.S. business. And then most importantly, everything we do after the company is set up so that you're successful with your sales on Amazon. And we'll cover some tax considerations for international sellers. And then of course, for U.S. taxpayers as well. So a couple of things on why the United States is I'm an optimal market and a great place to do this. Of course, USD is still really like the world's reserve currency, very strong currency. Having U.S. LLC and U.S. bank account, of course, allows you to conduct business in USD. Also having a U.S. entity or U.S. company can enhance trust and prestige for your clients all over the world, especially if you're selling to customers here in the United States. One of the benefits of also having a U. L. L. C. or a U. S. C. corporation is either entity offers very strong personal asset protection and also legal protection. And then, of course, that US LLC or C Corp can open up a US business bank account and we assist and help you do all that as well here at doola. You can also use payment processors such as Stripe and PayPal as well if you need. And then, of course, The United States is a global hub here as far as business is concerned. And you can absolutely operate this U.S. company completely offshore from your home country. And then, of course, for any U.S. citizens on the call, you can do it here in the States. And compared to a lot of other parts of the world setting up A U.S. company is relatively easy, and doola, we of course handle all the tax and compliance after the company is set up, so we make it incredibly easy and clear for all the founders that we work with. And so just a couple of points on the U.S. market itself. There's a very large consumer base here. To my knowledge, I believe about 350 million U.S. consumers, on average, very affluent consumer base compared to the rest of the globe here. And there's a lot of opportunities for rapid growth. And as I mentioned before, we do have a pretty business friendly environment here in the United States. We foster innovation, entrepreneurship. There's very low barriers to entry. And if you don't already have a U.S. company set up, the process is relatively quick. Things can all be done in four to eight weeks maximum. Also, as a U.S. business owner, You open up doors to access the capital, whether it's venture capital itself, any angel investment, crowdfunding platforms. So it's very easy to secure funding through your US entity. Also, as it says here on the slide, US consumers do. On average have a lot of disposable income and it makes the United States a very attractive market, especially if you have some high dollar products or premium products and or services. And also, too, you know, there is global influence with the United States. So success in the U.S. market here helps enhance your brand's credibility if you've already built something offshore in your home country. And you can also use this U.S. company, of course, to expand throughout the whole globe. And then in the United States, there are very diverse market segments. So whether you have sort of a lower dollar, high volume product or a high ticket product that's four or five figures, there's consumers here that are more than likely interested. And of course, Amazon's a huge marketplace, huge platform. A lot of eyes will be on your products as well. All right. So as far as entity structures. For the most part, an LLC is typically the best structure for the purposes of selling on Amazon. Um, if you're a US citizen and a US taxpayer, 99.9% of the time, an LLC in the home state or excuse me, in the state that you file your personal taxes and live in is the answer. If you're a non-resident, if you do not live here in the United States or you do not file taxes personally in the United States, there's a couple tax-free states that are beneficial, such as Wyoming and Delaware, and I'll touch on those a little bit later in the presentation. But in very simple and high terms, the IRS says that an LLC is a pass-through tax entity. Meaning the LLC at the end of each tax year, which in the United States ends on December 31st of each year, that LLC will file U.S. taxes, but ultimately the tax burden passes through that LLC. It is a pass-through entity. And it goes on the owner or owner's personal taxes. That same idea is true. If you are a U.S. citizen and a U.S. taxpayer, your LLC will file its own IRS federal tax return and the tax burden will pass onto your personal U.S. taxes. If you're not a U.S. taxpayer or you're a nonresident, LLC is still required to file those US federal taxes. Essentially though, all that's doing is it's showing the IRS the net profit that that LLC has generated for this year. And whether it's $1, it's a million billion dollars, you would not be paying US taxes on that net profit. But with almost every other country in the world, the United States does have a tax treaty. So when those taxes are filed, They're not paid here in the U.S., but that net profit is reported to your home country and your home country will typically put that on your personal tax returns. So for any non-residents on the call here, to keep it simple, file U.S. taxes. You don't actually pay any money to the United States typically. But you would be taxed in your home country at your home country's personal tax rates. And that same fact is true if you're the only owner, the one owner, which is referred to as a single member LLC. Member just means owner for an LLC. Or if you have a few business partners, two, three, four, five, 10, same thing. Taxes are filed in the US, but they pass through the LLC. They're reported to your home country and you're ultimately paying those taxes in your home country. Um, the next option, which may not apply to many people on this call, um, there is an election, a way to be taxed. Uh, it's referred to as S corp or S corporation taxation. One of the main points of the S corporation tax election is 100% of this LLC or corp would need to be owned by US tax residents and US citizens. So unfortunately, if anyone on your team or owning the LLC or C corporation is not a US citizen, the S corp tax election is not an option. The IRS doesn't allow you to do it. That being said, sometimes it is not even the best tax option for anybody, but a very broad and general stroke on that is if you anticipate your new US LLC to generate more than $75,000 in a tax year per owner of net profit, the S corp election typically makes sense. It's sort of a, I don't want to say confusing, but there's a lot of moving pieces to that. Part of what we do at doola is you'll have a CPA on your team here, which is Certified Public Accountant. I'm essentially a licensed U.S. tax professional. And part of our plans are you can do calls with them so they can look at your exact case, your personal income, how your company is doing, and they can make a recommendation if the S-Corp tax selection is the right fit for you. And if it is, we can also do that here at doola. It's a relatively quick process. The last option here, and again, this typically does not apply to most people with the C corporation. It's possibly and typically not the best structure for an eCommerce business, especially on the platform of Amazon. But we do form C corporations here at doola. So to go back to the pass-through idea where an LLC files taxes, but the owner pays them in their home country. A C-corporation, the IRS says the corporation itself and the owners of that corporation, which are referred to as shareholders, the IRS says those are two different things. So the C-corporation itself files taxes in the United States, just like every other company is required to, but the C-corp actually pays taxes to the IRS and to the United States government And with the C-corporations, they're typically locked in at a flat rate. And the tax rate for C-corporations is 21% that's paid to the United States. It is only on the net profit of what that company generate, or excuse me, what that C-corporation generated in this tax year. Unlike the LLC, where net profit passes through and is communicated to your home country, if you're not a U.S. resident, similar things happen with the C Corporation, but you're paying the taxes here in the United States. And then in most countries, due to the tax treaty that the United States has with those countries, you are not double taxed, but you would be essentially credited or your home country would know and be told by the IRS in the United States that this net profit has already been taxed in the United States. And then you would not be taxed in your home country. So just wanted to be pretty clear there on the C corporation. You're not double tax. You're not paying 21 here in America and then your local tax rates in your home country. It's you pay in America. America tells that to your home country. Typically your home country says, great, you've already been taxed. We're not gonna tax you again. There's a couple exceptions in there where you're not double taxed. But if you draw a salary or dividends, basically if you pay yourself directly through this US company, you're lowering the net profit that you're being taxed on in America at 21%. But quite often you'd be paying personal taxes in your home country on that income or those dividends that you withdrew from the C Corp. So to give a less confusing and real world example, if you're not a U.S. citizen, and let's pretend after doola finds all your write-offs, all your deductions on your taxes, that this C Corporation had $100,000 in net profit for 2025. Now John Smith, the imaginary person who owns a C Corp in a non-American country, John Smith chooses to pay himself $40,000 in salary or dividends. So now you have reduced the net profit that you're showing to America and the IRS down to $60,000. You would pay 21% tax on that net profit here to the United States. That $40,000 that the imaginary person John Smith paid himself would not be taxed by the United States, but in almost any scenario, your home country will tax that $40,000. So I hope that was a good example and we can of course get more detailed if anyone has any personal or like specific questions on C-Corp taxation. But to round this whole slide out, For most scenarios, you will not be doing a C corporation or an S corp tax selection. It's almost always the LLC, which would be you file in America. If you're American, you pay taxes on your personal taxes. If you're not a US citizen, you pay in your home country, but you don't pay in America. Cool. Let's see. All right. So, Believe I touched on this a little bit earlier, but one of our 50 states in the United States actually files your LLC. That part is fast. Whether you're a US citizen or you're not, most states will create that LLC in about three to five business days. We'll just call it a week to keep it simple. If you live here in the United States and you're a US tax resident, you file your taxes in a specific state. The answer is almost always do this LLC where you live and where you file your taxes. Most of the reason behind that is even though you're selling products online on a platform like Amazon, When you live somewhere, you're creating a physical nexus, an economic nexus. So plain English example, I live in Texas. If Riley's sitting in Texas running this from a laptop in my house, I am a Texas tax resident for that example. So simple answer, if you live here in the US, set your LLC up in your home state. 99.9% of the time. If you're not a US citizen and you have no direct physical ties to any of the 50 US states, Typically you can pick the ones you want. So we'll recommend that you pick one of the ones with the lowest taxes, which as you can see on the bottom of the slide are Wyoming and Delaware. That being said, if you are planning on raising funds for your entity here in the US, a Delaware C Corporation is almost always the answer. And that's the little exception or asterisk I'll put next to everyone should do an LLC. So long story short, if you are planning to raise capital through this company, and to clarify, not getting a credit card or getting a line of credit, you are selling shares of stock in this new US company, essentially, to either individual investors or VCs, which you see on the slide here, which is short for venture capital firms. A C-corporation is almost, is actually a hundred percent of the time the correct entity and to probably over explain that. LLCs are a very simple and easy way to set up a company and do business. It has no shares of stock. There's no board of directors. There's no annual meetings. So it's very straightforward. You just tell America and the state that the company's filed in, How many owners are there? What percentage does each of them own? So there's 100% ownership in an LLC. An easy way to think about that is an LLC, it basically has 100 ownership coupons that you can keep for yourself or you could sell off to raise money. And it's really not a lot. C-corporations. You issue shares of stock and you decide that number. You can say there's a million shares, there's a hundred shares, there's whatever number you choose. We can advise on that at doola if you are setting up a C corp and if you are raising capital, but to keep that point simple, you have unlimited ownership coupons or shares of stock that you can sell off to your investors to raise capital and fund your growth. A C-Corp does have a few extra moving pieces though. You do have to appoint at least one director. Well, let's say it this way. So I imagine almost like a pyramid shape on a C-Corp. At the tippy top, there has to be at least one director. If you have multiple partners, there can be two, three, four or five directors. But the top of the pyramid, the directors, those are the most important or powerful people in the company. At the base of that pyramid, somebody has to be a president, a secretary and a treasurer. Those three positions are referred to as officers. They are still important, a little less important. These can all be the same person too. And I know that's confusing. So not to say it this way, but if you're a one man show or a one woman show, and again, I'll say someone's name is John Smith. John Smith can just be all of these things. You can put John Smith, John Smith, John Smith, John Smith. All that being said, C Corp, there's some more moving pieces, extra positions. You have shares of stock that you can use to sell off or ownership coupons as I was calling them before. All that being said, if you are not raising capital, a C-Corp almost never makes sense and you should do an LLC. And then since we're all here on the call for Amazon and eCom, Do consider the nature of business or product or service that you're selling, but I think for the purpose of this webinar and conversation, it's kind of a moot point. For eCom, do an LLC for the most part. If you are one of those edge cases where you're going to be raising capital and selling shares of stock off to investors and venture capitalists, then you should do a C Corp. For our non-resident customers here on this call, our attendees, as I think I mentioned before, you have no tie to a specific state. You can pick any of the 50 you want. So we always recommend Pick the states that have 0% state tax so you are not giving them any percentage of your net profit, revenue, any of that. Those two states are Wyoming and Delaware. Typically, if you're forming an LLC, Wyoming tends to be a bit better of a choice. As I mentioned, at the state level, tax-wise, both are 0%. So you don't have to worry about paying either of these states' taxes. Still have to file with the IRS, with our federal government, like I went over before, whether you're LLC or C-Corp. But Wyoming, Delaware, you give them 0% of your net profit. Every U.S. state has a filing fee, which is money you have to pay them on day one when the company's created. And we do all this for you at doola. And then almost every U.S. state has an annual fee, aka money you pay them every year just for existing. We typically recommend for the LLCs In a situation where you're not raising funding and doing a C-Corp, we typically recommend Wyoming and it's simply because Wyoming has lower fees. Wyoming charges $103.75 on day one when you create your LLC. We collect that money for you on our website at doola and give it to Wyoming. But long story short, Wyoming, 103.75 on day one and then they're just $60 every year. Delaware, a little higher. Delaware has a $160 filing fee is what we use at doola specifically. That's the expedited filing fee. So not big of a difference there. Delaware's will round up say $50 more on day one. However, Delaware does have a $300 a year annual recurring fee for their LLCs. So to keep that point real simple, Wyoming and Delaware, when you're setting up your LLC, same thing, tax-wise, 0%, 0%. Wyoming is just on average about 260, or I'm sorry, yeah, $240 a year, less expensive than Delaware. But to confirm here at doola, we can file in Delaware, Wyoming or any of the 50 US states as well. But if you're doing an LLC, Wyoming makes the most sense. If you're one of those edge cases where you're doing the C Corp to raise capital, you should look at Delaware. Okay, and I believe some of the questions in the chat, and sorry if I haven't been as attentive to that, but a few people have asked how long does this take? So Delaware, I'm sorry, doola, we handle this for you. So step one is we'll file the LLC at the state level. I believe I mentioned this earlier. But most states, three to five business days, the process is fast. It does not matter on that timeline if you're a US citizen or if you have a social security number, which is a US personal tax ID. Long story short, any state takes a week. All you have to do with doola is on our website we have a very straightforward sign up flow. You don't have to give passports or anything like that. You're just filling in what's the name of this new US LLC, what's your email address so we can get you your documents and you log into our website. Where do you live? What's your address in your home country? Or if you live here in the United States, where do you live here in the States? And then a phone number. Just to confirm here, the email address and the phone number, none of that goes to the US government, it's private. It's really just your username and a way for doola to get in contact with you when we need to. So step two, after all that's filled out on our website and you check out, you tell us who owns a new LLC, we'll send those documents off and they'll get filed with Wyoming or Delaware or State X in about a week. Once that LLC exists, the next step is we go to our federal government, the IRS, to obtain your EIN for you. As it says here on the slide, EIN is employer identification number. So it is a unique and specific tax ID number that is issued to this company. It is not issued to any of the humans or the people that own it, but is the tax ID number for your new company. If you're a US citizen with an SSN, which is short for social security number, good news is the IRS just lets us go on irs.gov. We get it on the website. You're already in their system. They know who you are. It's fast. We'll have it in one or two days. If you're not a U.S. citizen with a Social Security number, it's not a problem. The process just takes longer. So if you're not a U.S. citizen without and you don't have a U.S. Social Security number, On average, it can take about five to six weeks for the IRS to issue that number. Believe it or not, I won't go on a tangent, but we have to fax in your signed application, like it's 1980 whatever, and then the IRS allows us to call on your behalf approximately five to seven weeks later and they fax back that paperwork. We do have processes in place and it's included in most of our orders here at doola where we can expedite that process. It's still not one or two days finger snap fast, but it cuts that talent timeline down to approximately three to four weeks. So to sum all that up, very simple term. From whenever you press go on doola, we'll file your LLC, we'll get your EIN. If you're a U.S. citizen, from when you press go to everything being set up, plan on about a week, week and a half. If you're not a U.S. citizen, from when you press go, I'd plan on about six to eight weeks. And then there are options where we can expedite that and cut that timeline down to about four to five weeks. But all that being said, Once that EIN number comes back, we'll assist with you opening up a U.S. business bank account for your new LLC. And that's relatively fast. I know here on the slide, it mentions three to five business days. I'd like everyone to keep that in their head. We can typically get that done in about two or three business days. So companies set up with the U.S. state, we get your EIN, And bank account is the last step. And at that point you have a U.S. business, bank account, you're ready to start setting up Amazon. As part of that formation or LLC filing process that I went over, In all of our plans at doola, we provide you with the required addresses. So there's that registered agent address, which I touched on earlier, which is a physical real building. It's basically a mailroom, but a physical real building in the state that your LLC is in. That's where the United States government sends an email to your company. Doola forwards it off to you, uploads it, scans it in PDF and keeps it secure and deals with it for you. So we give you that address. More as I'd say a convenience or luxury, we also give you a virtual mailing address where your customers or anyone else can send similar paperwork through the mail. We scan and upload all that the same way. So long story short, part of forming the LLC, we also provide you with all the addresses that are required here in the US. There's no extra costs for those. They're built into all of our plans. And then, so now, now you have a company. It's all set up. You have a bank account. The next and fun stuff is compliance and tax. So, recently, as you see here on point one, B.O.I. reporting, which I'll cover, that is short for something called beneficial owner information report. It is actually not a requirement anymore. There's a department in the US government, it's called FinCEN and it's essentially like a financial crimes protection department or arm of our government. To keep it very simple, as of mid-May, they have actually reversed this. So it is no longer a requirement. As of about a month and a half ago, we'll call it, every company I did have to file this report where you basically identify whoever the beneficial owner of the new LLC is within 90 days. They turned it off. It has gone through several states, court systems and our federal systems. So it's gone back and forth. It's like a light switch. It's been turned off and on. As of right now, the light switch is off. We've been doing it for close to two years at doola. If they flip the switch back on again, we'll be able to do it. But right now it's not. So we can kind of skip that one. State compliance. So every different state has different, most will have taxes, most will have filings and all that. To keep it really simple though, to just go over Delaware and Wyoming, which will probably be the main ones here for the people on our webinar. Wyoming, very simple, very straightforward. On your formation date, you have to file an annual report. And that annual report, it's not taxes, there's pretty much no numbers or anything involving money on there. It's just a very basic statement, name of your LLC, who your registered agent is, couple addresses, what the company does, and you pay Wyoming $60. That's it. To reiterate, Wyoming has 0% corporate and LLC tax, so you don't have to file taxes with that state. I don't want to say they don't care, but they're not going to keep a percentage of your profit or your revenue, so they don't get involved or concern themselves with you reporting that to their state because they're Don't care about it. Delaware also 0% tax. They have a very similar basic annual report that you file. No tax info. They have a little bit of tax info, but regardless of how much money your company did or did not make this year in the state of Delaware, Delaware, you file a very basic report and you have to pay them $300 every year. At doola, we file all these reports for you in either of these states or any of the other 48. You do have to pay the state fee. And again, that kind of ties back to why we'll recommend Wyoming for the most part, because it's about $250-ish less each year. Federal taxes. In most cases, well, let me say this better. So when your U.S. company is formed, that defines its fiscal year, its tax year. Let's pretend you set up, your LLC got filed today, June 26th. From June 26 until December 31st, that is 2025 tax year. That is that company's fiscal year for 2025. So whatever money and revenue you bring in, minus your expenses, all that, from now until New Year's essentially, that is your 2025 tax year. They're not due on January 1st or 2nd, As lovely as the IRS is, they do give you a couple months. So depending on your structure, it depends if it's LLC, C Corp, how many owners you have, those 2025 taxes are actually not due until either March 15th, three and a half months later. Or April 15th, about four and a half months later. At doola, we do handle all that for you with almost all of our plans. You'll meet with your CPA. We have detailed bookkeeping and tracking software that'll link to your Amazon account and your US bank accounts. So we'll have all this data. We'll be able to find all. Of your write offs, your deductions or your expenses. And our goal is to legally and I'll emphasize legally lower the net profit that this company shows because ultimately that's what's being taxed, whether it's here in the United States or in your home country. So long story short, we handle all that for you, but. From whenever your company starts till December 31st, that's your tax year. You have a couple months to actually file it. Doola does it for you. And then that cycle repeats each year that the company exists. On the bookkeeping front, bookkeeping, just to define it very loosely, Is keeping detailed records of every transaction that a business does. That's for the purpose of reporting all this accurately to the IRS at the end of each year. We do handle that for you at doola. As I mentioned, our software and our dashboard links directly to your Amazon account, whether it's sellers or Amazon FBA fulfilled by Amazon. We also link directly with over 13,000 US business bank accounts and credit cards. So we'll have visibility and the ability to find any deductions that this company does each and every year and then ultimately accurately and accurately report that and file your taxes with the IRS here at doola. Um, cool. And then, um, on that note, um, in the first year of a new LLC or C corp, You can deduct at least up to $500 in startup costs. So to define that, those costs up to $5,000 are legal fees, the fees that you pay to state X, Wyoming, Delaware, wherever you set it up, of course, what you spend with doola or what you spend with AMZScout. So all of those can be written off, which to define that is Giving a detailed filing to the IRS showing that these are expenses and lowering your net profit for the company. Technically, you are allowed to write up to any amount off in your first year up to $50,000. If you spent more than that and you have those sort of write offs and deductions, if it happens to go over $50,000 USD, You can amortize those or essentially in plain English spread those deductions over the course of the next 15 years. And then general taxation. I think I kind of got ahead of myself on this. But as I mentioned before, I'll get through this one. But LLCs are pass-through entities. They file U.S. taxes, but the owner pays them in their home country. If your home country is America, you pay it to America. If your home country is not America, America reports it to your home country. C-Corps, separate entities from the owners. The C-Corp pays 21% to America. Excuse me. C-Corp files taxes with the IRS in America. It pays 21% to America. Typically nothing is reported or paid to your home country if you're a non-resident except salary and dividends. And then I think I covered this as well. You would not be double taxed with the C Corp. You're paying in the United States. Once you pay that 21% to the United States, the United States tells your country, your country gives you credit for that. So you're paying once, you're paying in America with the C Corp. LLC, you're not paying in America unless you're American, but you're paying once and you're paying taxes in your home country. Let's see. So to maximize business deductions, again, to tie back to our bookkeeping software where we link to your Amazon and your bank accounts, credit cards. We have CPAs, Certified Public Accountants, who are licensed professionals at doing this. So any and all expenses that the IRS will allow you to deduct and reduce your net profit, doola is going to find those for you. So some of those in very high level. It can be expenses such as rent for an office or home office, any utilities, your electric bill, your internet bill, your water bill, all that sort of stuff. Any office supplies, any technology, if you're buying software, a laptop, a web camera like I did for this presentation last week. Business travel. If you're flying somewhere, driving somewhere, you can ride off your gas, you can ride off your plane tickets. Maybe someone's taking a boat. I'm sure you could ride off your boat expenses. But all that being said, those do need to be business travel. So you can't fly somewhere to go take your daughter to Disney World or anything like that. But legitimate travel to meet a client, to go to a event or a conference, anything that's directly related to your US business, those will be written off or deducted. Similar things with home office. If you are using a part of your home, whether it's an apartment, a house, any of that, if you're using a part of that to I run this business from my home office. You can also typically deduct the rent or lease or mortgage for that space, along with utilities, home insurance, etc. Similar story with vehicle expenses, if you have a car, a truck, etc. You can write off gas, you can write off mileage, you can write off cost if you're buying a new vehicle. Um, general rules from the IRS kind of can vary. Uh, but to keep that very, very simple, we handle that guidance all here at doula. And as I mentioned, it's very, very simple to book calls directly with your CPA or certified public accountant here at doula. And they can give guidance if you're a little unsure if it's a valid write off. Um, but again, since we're all here in the same industry, They do need to be expenses common to your industry. So of course, any startup costs when you're filing your company with doola, filing the taxes or any of the like helpful software and tools that AMZScout has are all absolutely write-offs. Things like inventory if you're using a 3PL or a third-party logistics company that's storing your products here in your home country on US shore. Those are some examples of industry-specific eCom things that can be written off. Of course, you know, if you're getting a new laptop or any technology or software as well, those do apply. And then Lastly, I'm going to go through this because it is a credible edge case, I would say. If you're one of the few people who are doing a C corporation to raise capital that issues shares of stock, there is a program, QSBS, which is Qualified Small Business Stock. There's essentially ways that you can, for tax purposes, lock in the original price of those shares of stock when your company was first created. And you're taxed at the value of those shares from that point versus if the value of those shares go up and up when you bring investors and all that. If anyone has specific concerns or questions on this, we can talk separately, but it's a little complicated. It probably does not apply in almost any situation. It also cannot apply to an LLC because an LLC does not issue shares of stock. Just very high-level tips to stay compliant. Of course, we help you with this and do this for you at doola. Pay your taxes on time. You know, don't be late. If you are late, it's not the end of the world. The IRS does penalize you, so there'll be some fees. There's interest specific to each case, but pay your taxes on time. We do this for you. We'll give you reminders. We will make sure that you're filing on time. Not to get too far off topic, but you can also extend your tax deadline. And we do this at doola as well. You can file a simple six month extension. We do it for you. So if things are overwhelming, you need more time, you can always push that deadline out. But for the most part, file your taxes on time. A very important rule is When you open up this LLC, as I mentioned before, this LLC will have its own tax number, an EIN, and it'll have its own bank account or bank accounts. It is very important that you are doing everything for this U.S. business through its U.S. business bank account. You really are supposed to and need to separate your personal finances from this business's finances. A couple of reasons are it's much easier to tell the IRS this is a business expense or a business write-off if it's out of a business account. Clear cut, the company paid for this, that's it. You're really not supposed to co-mingle, like mix funds from your personal bank account with this business's bank account. Of course, there's exceptions. When you open the business account, zero dollars in there. You're allowed to fund it, but very general, very high level. Things your business is spending or when your business is receiving money, it's getting paid. That's on your business account. Your personal account is your personal account. Keep them separate. And it is always important, whether it's through doola or elsewhere, have a tax professional. It's very confusing. US tax laws, especially if you live in another country, now you're involving your country's tax laws. Have a professional do this. It's whether it's doola or not, it's worth the investment. You can make tiny mistakes that lead to four or five figure I'm a tax accountant. I handle taxes with the IRS and it's pretty important to avoid that just from day one. Let a pro handle it. Awesome. Well, that is basically all I have. And then we'll definitely be here to answer any questions on doola specifically. But at this point, I wanted to let Milos take over. That AMZScout has that can help specific to your Amazon account, to advertising and tracking. So at this point, I will sort of pass this, I will pass this over to Milos. Unknown Speaker: Okay. Uh, can everyone hear me? Uh, can I just get a thumbs up? Uh, just to make sure that everything's working. Uh, okay. Uh, let me just double check this. Uh, uh, can you hear me right? Okay. Speaker 1: Okay. Unknown Speaker: I'm going to take that as, as everything's working. Yes, perfect. Okay, so I'm just going to be jumping in for this segment. Maybe some of you know me from a webinar I did for AMZScout a couple of weeks ago. My name is Milos and I'm an Amazon brand growth expert and I've been doing this for 10 years. I'm a founder of an agency called A to Z Propulsion and basically I scale brands and well, I guess in this slide, 5x my client's revenue over a period up to six months. Well, it depends on the case, but in every single case I managed to, well, I basically maximize the potential of any sort of catalog or product that It comes into my stewardship. But so besides that, I've been also I've been working with AMZScout for a very long time and I'm a power user of tools. I actually, before I started doing this, I was actually an employee here at AMZScout. So I'm just going to run you a little bit through the tools and the offer today. So yeah, so that's basically my cue to switch to screen sharing and let's just Get into it. Hope everyone can see this. Speaker 1: All right. Unknown Speaker: So the first thing I want to show you guys is this is just any, this works on any single page on Amazon, on any, on any market. Basically, you just type in whatever you wanna type into the search bar. Actually, it doesn't even have to be a page that you come across as a result of a search. You can just be browsing categories and such. And you can always just use the pro extension. And this is what I'm gonna show you today. I just chose gardening gloves in Amazon US because it's the first random thing that came to mind. It doesn't really matter. So basically, what you have here is something that I always call it something that lets you sort of peek behind a curtain of what's actually going on on Amazon on any page or behind any product. And here you can see sometimes a bit overwhelming at first glance amount of data, but it basically tells you everything that's going on in both this particular niche or search. And let's just run through a few of the things you can see here because if we actually You know, go through everything. It will just be a webinar of two hours of me showing you everything that can be sort of extracted from here. But first and foremost, you can still see every single product that's on the page. You can see all the sort of important information like the estimated revenue, the rank, estimated sales in units, and well, of course, you can see the price, but the interesting thing about the, well, and you can see the price and the fees. So everything that's sort of highlighted in blue, it means it's clickable and it will open up another interaction. So in this case, you can sort of see the calculator for this product. You can sort of see the revenue and the profits. And of course, since they are there are unknown. Sort of unknown variables here. You can put them in manually and this is great for when you're researching yourself, thinking about launching a product. You already have a quote from a supplier or you already know what your margins are as in your landed costs and stuff like that. You can just add it in here and say that this is like $6 in taxes and product cost is like five and then it will automatically sort of adjust all the numbers. It's super useful and what's great about it is that you can just sort of browse and research and in just a few seconds you can have a lot more insight so you don't really waste time on things. When it comes to product research or how I use it in my practice and for my clients is to sort of do competitor research, right? So what's beautiful about this here is that you can sort of see if we click on revenue We can see for this particular product the history of everything that's been going on in the past one month, two months, six months, one or two years. And of course, we have different variables here. So you can basically turn them on and off and see which one you want to see. We just want to see sales. But you can also see how sales, is there a correlation between the number of reviews and sales here? It certainly seems that it is the case. You can also sort of see the seasonality. And more sort of short-term to long-term trends. And this is also really, really perfect just if you can juxtapose, like if you go to your own business reports and you look at the same graph from, you know, Seller Central, you can just look at, oh, what has this competitor been doing? And what's beautiful about it is that if you click on any segment in time, you can actually see What the price was, was it on a discount? Did they change anything in their strategy? Of course, you can't see the entire strategy here, but it's enough to give you a hint to look into it further, right? Of course you can also see the history of the entire niche itself. So if you look at like, is this a trajectory that's gonna grow or is it slowing down? So basically you just get insight of every sort of thing you can imagine, right? So if you have any, if there's anything, if you're looking at a page on Amazon and you're asking yourself, I wonder if I can find out insert blank, there's almost certainly a way that you can find that out. And a beautiful thing here is the new sort of added AI analysis. Well, tool that I ran it on a different page right here because it does take a minute to sort of populate this because it's actually working in real time, right? So here we can see that for this niche analysis, we'll have like some sort of insights that the AI is gonna sort of gather and gather, organize, and then sort of spit it out in a way that it's I'm bound to be useful to you. So certain sort of insights like, well, these are the top selling ones. They have multiple variations or they don't. High review volume indicates strong customer engagement. So getting a lot of reviews is not only an indicator of a product that's selling well. But a product that's, this is just for example, but a product that's so good that people feel compelled to talk about it, even though Amazon gives them a, you know, a friendly push. If you're selling, you know, if you go into orders and start trying to ask for news manually, but still it provides you a really decent insight. Now, what's wonderful about this tool and a few others that I'm going to show you is that it's just an assistant that speeds up everything you're doing. To a tremendous extent. That's basically it. And it removes a lot of or basically all of the guesswork that might come with any sort of inquiry in anything that's going on on Amazon. And for example, there's a lot of different ways you can sort of optimize this. You can put favorites in your products. If you're just researching, you can put them to the side or top six, seven competitors. And you can, of course, extract data from any given point in time, which is a smart practice to do, actually. If you want to keep an eye on your competitors, if you select like five or six of them and every month you just make a mental note to extract it and just look at how their sales have been behaving in comparison to yours. It's a smart thing to do. And also, whenever I see people using this, they always find new creative ways to use it. So actually, the more you play with it, the more value you're going to find in it. And this is just the extension. So there's a lot of cool extra features that allow the extension to sort of synergize with the other AMZScout products. And one of these is this. So if we have an ASIN, we can just copy ASIN. So the unique identifier for this one product here is now in my clipboard. So if I can go to the web app part of the AMZScout tool package, and here we have a lot of different things. But this is how you can, this is a sort of a good way to use the copy async feature. So this is one of the tools called reverse async lookup. And if I just, well, if you just paste the The ace in here is that it will tell me basically, oh, maybe I should adjust this a little bit, but it should tell me all the keywords that this particular product is indexed on. So if, well, any of you are expected, if you are sellers, you're definitely dealing with PPC, keywords, SEO and all those things. So having this sort of insight is extremely valuable, especially if you sort of compare it with your own and actually doing this on your own product, It's extremely insightful and especially just to see what sort of keywords are your competitors ranking on or indexed on or visible on that you are not or how your visibility compares to it. And of course, you have a lot of columns of data here like estimated monthly search volume, the cost per click. For that particular keyword, which is actually a very unique insight because it's usually it's really hard to extract this from the API of Amazon. And you can also see what is the rank of this product. And you can insert multiples here. So you can actually have the combined data here. And it's sort of and this thing, I find myself using it very, very often. Just to sort of track the state of all the accounts I'm running and all the different products and how they stated their competitors. And especially when I'm sort of building up PPC structures from the ground up, this is one of the crucial steps that I use to sort of, you know, design the campaigns. And yeah, so this is just one of the tools, keyword tools. The other one is just keyword research. And well, I guess I had the kitchen knife here before, but just put like any keyword This is Amazon US. You can see it here on the top right. And we can sort of see all the different searches that occur or that have occurred in the last 30 days that contain the word rolling pin. Now, of course, when I just showed you the reverse ASIN lookup, it's showing you what the product is already indexed on. But it doesn't necessarily mean that it's indexed on everything that is out there that can give you position, that can sort of enhance your product's visibility. So this is why using these two in tandem, when it comes to keyword research or general researching the market or standing in the market, you need to sort of take both of these sets of data and actually juxtapose them against each other to see, well, all the opportunities you have. And this is just one of those. So in here, you have sort of the same columns. And of course, any single data set here can be extracted into an Excel or CSV file. So you can play around with it a lot, which I sure hope you guys are doing because if you're maybe complaining that you're not successful on Amazon enough, maybe try to invent more ways to use Excel. I'm just saying, there's a correlation there, all right? And this is another really cool tool. In this instance, I had to Well, I can't really show you everything that I'm tracking, so I made a new instance here, and I was in a kitchen knife type of mood, and I highly recommend this for, well, you can use up to, I think, 200 keywords per ASIN that you track them and see their ranking over time, and here we can see, here, all right? So we can see, for example, this one ASIN that I chose at random, well, it's one of the top sellers in kitchen knives. You can sort of see how its ranking fluctuates, and you can see on Multiple keywords, what's been going on? And I suggest that it's a really smart practice, especially on your flagship products, depending if you have like a thousand ASINs, it's impossible to track every single ASIN on every single keyword that's indexed on. But you know, if you've been running your store for a while, you know exactly those top five to 10 searches that you are keeping your eye on, that you know that has a high impact on your organic ranking and your success. Tracking this here, well, saves you a lot of guesswork. And I think that's a lot of things when it comes to running an Amazon business. There's advantages to the fact that you don't need to There are no overhead costs. It's not a brick-and-mortar store. A lot of things have been simplified, but the game isn't any easier. The fact that you don't have to handle your own inventory or have your own warehouse and all that, it doesn't make it less of a challenge to succeed. And when things are going wrong or going right, actually, You don't really have the luxury of not having any idea why that is the case. So doing sort of developing healthy practices like this, which I've, you know, learned the hard way after first being a seller myself and running, you know, tens and maybe even hundreds of accounts and tens of thousands of products, developing these practices over time and finding tools that sort of make it a lot easier for you to keep track of what you're doing makes a world of difference. And So, of course, there's more tools here. Maybe I started talking too much about this one in particular, but if we look at the product database, now this is purely for product research. And so, for example, you have a set of filters here and you can sort of select any and all categories and you set up what is sort of your minimum or maximum price, even though why would you use a maximum price? And you can sort of set up a set of criteria that you want to, let's say, find a product which corresponds to an niche where you would like to compete or see where... Let me put it this way. If we look for a product that has a price of minimum $20, at most 300 reviews, but has at least revenue of $10,000 a month, that would sort of suggest that there's a product that doesn't have a lot of reviews, but it's making a decent amount of revenue. Which directly suggests, okay, so this is a niche where it's not over, sort of oversaturated. It's possible to bring in something that competes with that, that you can expect similar or much greater level of success. As I said, none of those things will sort of replace your own skill and intuition or your business acumen. It just makes decision making and acquiring insights immensely faster. And I can tell you myself, I started selling on Amazon in 2016. And none of this was available. So you were doing a lot of things blind. And I remember researching for my first product for like four or five months. Now you can probably do it in a couple of weeks or even less, depending on how strict or how detail oriented you want to get.