RE: LLC. We formed an s-corporation, which is similar to an LLC. LLC is simply a way to limit your liability, in case you get sued. If you’re making decent money, limiting your liability isnt a bad idea. So if you get sued, it might destroy your business, but they couldn’t come after your personal assets that you built over the years.
RE: offshore account. We found it necessary to get one, after having 2 banks close our accounts because of wires from obvious gaming companies. 888 gaming, betfair, etc.
The account we have is a personal account at a canadian bank that also has us branches. They are great with cross border banking.
If I found a USA bank that wouldnt blink if we got a wire from a gaming company, I wouldnt have bothered with the Canadian account.
My .02