I am a big fan of diversifying my investments and businesses. Recently I have opened a few apartments in Tbilisi, Georgia as bed-and-breakfasts. Everything was going fine, and then I got my first payment. Yeah!!!!
No, not yeah. I received a total of $128 from Airbnb. Of this amount they took out $4.00 as a processing fee; ok. Then they took out $20.00 since I was having it sent to my Georgian business account; this is of course what you are supposed to do. Then my Georgian bank took out $4.00 to process the payment. Ouch. I lost $24.00 out of $128.00 because I decided to use the Georgian company account rather than a US LLC account. And this is my business. Shame on me.
The good news is that I immediately added a US bank account to my payment options. Lucky for me I was able to easily add this option.
You too can have this option. If you are doing enough business to justify setting up a US LLC with a bank account there is no reason for you to not do so. Contact me for more information.