Somani Global vs online formation services

What formation services do well

Speed, price and a clean checkout. A Wyoming or Delaware LLC in a day for a few hundred dollars, an EIN application, a registered agent for the first year, and a dashboard. For a US resident who knows what comes next, that is a fair deal.

What arrives afterwards

• Form 5472 for every foreign-owned LLC, every year, with a $25,000 penalty. Most formation customers learn of it from an IRS notice.
• The state calendar: annual reports, franchise tax, the registered agent renewal at full price after the free year.
• Bookkeeping that nobody set up, so the first return is built from bank statements in a hurry.
• Upsells priced per item: a compliance calendar, a bookkeeping add-on, a tax package, each a separate subscription.

What we do instead

Formation is one fixed fee that includes the state fee, EIN, registered agent coordination, banking pack and a first-year compliance calendar with someone responsible for it. Bookkeeping and the first year's return are bundled if you want them, so the 5472 is prepared by the people who kept the ledger. The person who answers in month nine is the same one who formed the company. It costs more than a $0 formation and less than a $25,000 penalty.

Questions people ask

Other comparisons

• Somani Global vs DIY tax software
• Somani Global vs a local CPA firm
• Somani Global vs a freelance bookkeeper
• Somani Global vs an in-house accountant
• Free calculators and checkers
• Tax filing by state