Starting A Business | Corpnet Incorporation Services

Hire CorpNet to Start a Business? We’ve Done it Before!

by CorpNet

1 January 19th, 2012

If you’ve never done it before, incorporating a business can be confusing. The forms and requirements are often poorly written with lots of “legalese” and ambiguities. How do you know which legalese applies to you? How do you know that you’re doing it right?

We’ve heard from lots of customers that when they try to incorporate a business or form an LLC on their own, they quickly discover that they’re “in over their head” and need help.

Even if you manage to fill out the forms by yourself, then you have to spend time driving to the post office or the Secretary of State’s office to file the forms. How do you know you filled out the forms correctly? What if something goes wrong? What if there’s a delay or error that results in you not being able to start your business? What if someone else swoops in and takes your chosen business name? Read More→

Categories business filing service, Choosing A Business Structure, How To Form an LLC, How To Incorporate a Business, incorporation service, legal aspects of a startup, legal filing service, Legal Tips, Starting a Business, Startup
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“Rome Sweet Rome:” How to Start a Business as a Side Project

by Ben Gran

1 January 19th, 2012

Some of the best businesses start as a side project. Whether you’re a moonpreneur or a stay-at-home parent, if you have the urge to start a business, you don’t need to let a full-time job or family obligations stand in your way. Some of the best new business opportunities come from a goofy little side interest or hobby that you start out doing just for fun.

For example, one of my fellow Iowa freelance writers recently got a movie deal from Warner Brothers based on a few minutes he spent during his lunch break.

How did this happen? It started with a Des Moines freelance writer named James Erwin who wrote a gripping, entertaining story in response to a Reddit post. (In addition to being a talented writer, James Erwin is also a former two-time Jeopardy winner – so he’s pretty much a superior human being to me in every possible way. I am in awe of him.)

Reddit is a news aggregator website where people can post links and vote on what they feel are the “best” stories, ideas and comments throughout the day. Someone had posted a question on Reddit asking, “What if a unit of current U.S. Marines are suddenly transported back to ancient Rome and forced to do battle with the Roman legions?”

James Erwin saw this question during his lunch break one day, and he happens to be an expert in military history. So he started replying to the Reddit post, sharing what he thought would happen in this hypothetical time travel story. People loved James’ writing, and before long he was writing thousands of words. People kept “liking” his comments and pushing his story up higher and higher on the Reddit list. His story became known as “Rome Sweet Rome” and before long, people were posting original ideas for movie poster artwork and fans were posting music on YouTube inspired by the story. James Erwin’s goofy lunch break diversion had taken on a life of its own and created a community of passionate fans and followers. Read More→

Categories Business Tools, Choosing A Business Structure, How To Form an LLC, How To Incorporate a Business, Marketing Your Business, Running A Small Business, Starting a Business, Startup
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Why Not Start a Business? 100 Years Ago We Were All Farmers

by Ben Gran

1 January 17th, 2012

Everyone who wants to start a business has to face some familiar fears – will the business succeed? Will I make enough money to cover my bills? Will my family’s standard of living suffer as a result of this decision? Can I afford to take the risk of starting a business and becoming a full-time entrepreneur?

Sometimes people who want to start a business feel that it is too risky compared to the tried-and-true experience of having a job at a big company. If you’ve always had a steady paycheck and benefits and paid time off, it can be tough to give that up for the uncertainties of self-employment.

If you’re deciding to start a business in 2012, here is a bit of inspiration for you – America has always been full of uncertainty and change. We happen to be living in times that are more uncertain and full of change than ever before. But that doesn’t have to be a cause for stress and anxiety – in fact, if you look at how much America’s economy has changed in the past 100 years, we can take heart in knowing that millions of Americans have navigated big changes for many years, and so can we.

One of the biggest transitions that America made during the 20^th Century was changing from a largely agricultural economy to a manufacturing and then service-based economy. 100 years ago, during the years 1900-1920, agriculture and mining made up 30-40% of the U.S. workforce – millions of people used to make a living in America from working on farms and in mines, and over time, most of those jobs went away. Then people who used to be farmers went to work in factories on assembly lines, and gradually over several decades, those jobs got replaced by technology and people had to find something else to do for a living. Read More→

5 lessons in entrepreneurship from Ashton Kutcher

by Ben Gran

1 January 16th, 2012

This sounds so ridiculously lame, but it’s true: part of my inspiration for deciding to start a business was Ashton Kutcher.

A few years ago I was sitting in my grey corporate cubicle, having a miserable day, avoiding doing work while reading CNN online, and I saw a headline about Ashton Kutcher, and the thought suddenly occurred to me: “Ashton Kutcher doesn’t have to put up with this crap. Why should you?”

Seriously. I remember thinking, “Ashton Kutcher doesn’t have to sit in a cubicle all day. He doesn’t have a boss. He doesn’t have to be part of the boredom and waste and enforced idleness of life in a cubicle – and why? Is Ashton Kutcher really so much more talented than you? Why can’t you do your own thing, just like Ashton Kutcher?”

Of course, I wasn’t trying to become a celebrity or become the new cast member of “Two and a Half Men.” My goals were more modest. I just wanted to escape from my cubicle and start a business that would allow me to have more freedom, more control of my schedule, more fun, and a moderately higher income.

But the more I think about it, if aspiring entrepreneurs are looking for a role model, they could do a lot worse than to look to the example of Ashton Kutcher.

Ashton Kutcher might have started his career as a sitcom goofball on Fox’s “That 70s Show,” but he’s actually been really savvy and entrepreneurial in how he’s managed his Hollywood career. He’s managed to stay in the news by being at the forefront of lots of pop culture trends in the past few years, everything from wearing trucker hats to dating older women. Read More→

Categories Business Tools, Choosing A Business Structure, How To Form an LLC, How To Incorporate a Business, Marketing Your Business, Running A Small Business, small business operations, Social Media Srategies, Starting a Business, Startup
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Why hire CorpNet to help start a business? Peace of Mind.

by CorpNet

1 January 16th, 2012

The biggest advantage of incorporating your business or forming an LLC is that it separates your personal assets (home, savings account, retirement fund, etc.) from your potential business liabilities.

The fact is, we live in an uncertain, risky, lawsuit-happy society – and operating a business without a corporate shield to protect your assets is too big of a risk.

For many entrepreneurs, a single lawsuit can lead to financial ruin. Even if you’re totally in the right and the lawsuit against you is frivolous and wrong, you don’t want any issues affecting your business to cause a loss of your personal assets. Read More→

Categories Business Tools, Choosing A Business Structure, Corpnet Promotions, How To Form an LLC, How To Incorporate a Business, incorporation service, legal aspects of a startup, legal filing service, Legal Tips, Starting a Business, Startup
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Top 5 Reasons for Incorporating Your Business

by NellieAkalp

1 January 13th, 2012

Many small businesses consider themselves ‘too small’ to worry about incorporation. However, whetherowever, you’re a self-employed social media consultant or a landscaper, incorporating or forming an LLC (Limited Liability Company) can be a smart idea. Here’s why:

1–Liability protection: First and foremost, the LLC and the Corporation (C Corporation or S Corporation) protect the owner’s personal assets from any liability of the company. That is, if your company happens to be sued, your personal assets (i.e. property, savings accounts) are shielded from any judgment. Of course, lawsuits are worst-case scenarios and there’s a slim chance you’ll ever run into legal problems. However, if you’re sued as a sole proprietor, you’ll be sued personally. And that means everything – from your children’s college fund to your retirement savings – is at risk. Also keep in mind that creditor judgments can last up to 22 years, so you need to worry not only about protecting the assets you have today, but the assets you’ll have tomorrow.

2–Taxes: Federal income tax rates can be lower for corporations than for individuals. And as a corporation, you may be entitled to additional deductions.

3–Credibility: Adding ‘LLC’ or ‘Inc.’ after your company name boosts your credibility in the eyes of some customers and partners.

4–Business credit/capital: As a corporation or LLC, it can be easier for you to access a line of business credit. And forming a C Corporation will be essential if you plan to seek Venture Capital funding.

5–Added layer of privacy: With an LLC or a corporation, the company’s ‘registered agent’ goes on public record, and not your home or business address (in most cases).

Fortunately, the incorporation process has been greatly simplified these days, so there’s simply no reason to delay incorporating your business or forming an LLC.

Question: So how do you even go about filing all the necessary paperwork and making sure that you’ve done it all correctly?

Answer: With a reputable business fromation filing service such as CorpNet.com .

Our professional staff has the knowledge and expertise to help you every step of the way. From choosing a business structure to reserving a name to filing with the Secretary of State, CorpNet.com can make the filing process quick and painless.

It is possible to handle all of your business filings yourself. It will require doing lots of research to be sure you’re filing the correct documents, completing all of the forms, paying individual fees, and quite possibly hiring an attorney to advise you. With CorpNet.com, you have a one-stop destination for all of your business filings. Everything can be handled at once, and all for an extremely reasonable fee. Check out our list of filing services to get an idea of how we can help you to get started.

CorpNet.com can help right from the beginning, with a Starting a Business Checklist that lists everything you need to know in order to get your company up and running. Our Free Corporate Name Search lets you be sure that the name you’ve chosen for your company is available, and we can help you to reserve the name for your own use. CorpNet.com’s Free Incorporation Guide or Free LLC Guide to get all the details about the distinctions between the two structures. You’ll learn that overall, an LLC is the less formal entity. Of course, details may vary based on your specific circumstances, so take some time to educate yourself on these two business structures.

Let CorpNet.com apply for your Employer Identification Number (also known as a Federal Tax ID Number), the first step in incorporating your business. If you aren’t sure whether you need a business license, CorpNet will advise you, and file the application for you.

Once your business is incorporated, CorpNet.com can continue to provide valuable services. If you make any changes to your corporate structure, our staff can file the appropriate Articles of Amendment. Take the worry out of filing your annual report with our service.

CorpNet.com can provide filing services in all 50 states. Our staff is professional, courteous and reliable, and all services are fully guaranteed.

Contact CorpNet.com today, and cross all of those business filings right off your list.

We look forward to incorporating your business for you and getting your business off the ground!

Good luck!

A portion of this original content by Nellie Akalp was written and published on BusinessWeek.

Categories business checklist, Business Tools, Choosing A Business Structure, Legal Tips, Running A Small Business, Small Business Tax Issues, Starting a Business, Women In Business
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Top 4 Startup Mistakes When Incorporating a Business

by NellieAkalp

1 January 12th, 2012

During the initial months of the year, savvy entrepreneurs rush to incorporate their businesses or form a Limited Liability Company (LLC). And with good reason, a corporation or LLC is essential to protecting one’s personal assets from any liability of the company. After all, if you’re sued as a sole proprietor or partnership, you’re sued personally – and that puts your personal savings and investments at risk.

Incorporating a business or forming an LLC is a relatively quick and painless process. However, while it may seem straightforward, there are some common mistakes that business owners make that can have a significant impact on their business:

1. Choosing the Wrong Business Entity

Your choice in business entities will shape the amount of taxes you pay and paperwork you contend with. It’s an important decision, one worth some research. The three most common types in the U.S. are the LLC (Limited Liability Company), S Corporation, and C Corporation. Here are a few things to keep in mind:

The LLC is great for startups that want the liability protection, but prefer minimal formality and paperwork.
The S Corporation is a pass-through entity for federal taxes (like the LLC). It should be used by startups that will make a profit soon after incorporation…and that profit will be distributed to the shareholders.
The C Corporation files its own tax report. It should be selected by those startups who plan to reinvest profits back into the company or seek funding from a VC.

2. Incorporating in Delaware or Nevada

Delaware and Nevada are hot states for incorporation, and for good reason. Delaware offers some of the most developed, flexible, and pro-business statutes in the country. And Nevada is increasingly becoming a popular choice for businesses due to its low filing fees, as well as the lack of state corporate income, franchise, and personal income taxes.

However, if your startup has less than five shareholders, it’s best to incorporate in the state where your business has a physical presence (i.e., where you live). Otherwise, you won’t actually reap any of the benefits, and you’ll be dealing with added hassles and costs of operating “out of state” A including: difficulties opening a business bank account, having to appoint a registered agent, and fees for operating as a ‘foreign entity’ in your own state.

3. Hiring a Lawyer to File the Forms

You don’t actually need to hire a lawyer to form an LLC or Corporation. If you’ve got a straightforward investment situation, you can use a legal document filing service to represent yourself to create a business entity. In the eyes of the law and IRS, your LLC or Corp will be just as valid than if a high-priced attorney sent in the documents for you.

4. Not Staying Compliant

Too many business owners think that their legal obligations are finished once their LLC or Corporation is formed. But, it’s critical that you keep your LLC or Corporation in compliance. If a plaintiff shows that you have not maintained your LLC/corporation to the letter of the law, he or she can seek recovery against your personal assets. In short, the corporation’s shield that protects your personal assets is pierced.

So, how do you make sure your corporation stays compliant? Keep your personal funds separate from those of the business (no commingling: this means keeping a separate bank account and credit card). Remember to send in your Annual Statement/Annual Report (if required by your state). And obviously, do not engage in any form of fraud.

By avoiding these common missteps, you can better protect your personal assets and minimize your personal liability; Of course, the biggest mistake of all is never forming an LLC or Corporation. So even if you’re putting 80-hour weeks to find new clients or launch a new website, make some time this year to incorporate. By getting your legal ducks in a row early on, you’ll be able to scale far more smoothly in years to come.

CorpNet.com can provide filing services in all 50 states. Our staff is professional, courteous and reliable, and all services are fully guaranteed.

Contact CorpNet.com today, and cross all of those business filings right off your list.

We look forward to incorporating your business for you and getting your business off the ground!

Good luck!

A portion of this original content by Nellie Akalp was written and published on StartUpNation.com.

Categories Choosing A Business Structure, Legal Tips, Running A Small Business, Small Business Tax Issues, Starting a Business, Women In Business
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What Can Small Businesses Learn from Louis C.K.?

by Ben Gran

1 January 11th, 2012

Louis C.K. is one of the most beloved comedians working today – with his critically acclaimed TV show, “Louie,” his widely-watched guest appearances on late night TV, and his standup comedy specials.

But even though millions of people have watched him perform, Louis C.K. said (in a recent interview with Terry Gross on NPR’s “Fresh Air”) he’s never earned very much money from his televised comedy specials. Usually a comedian records a special, gets paid upfront by the cable network that’s going to broadcast it, but then most of the remaining profits go to the cable network.

Instead of relying on a cable network to be the middleman to produce, sell and distribute his comedy special (and keep most of the money for themselves), Louis C.K. decided to do something different. He filmed his own comedy special, a 1-hour show called “Louis C.K. Live at the Beacon Theater,” and sold it on his own website for $5.

Categories How To Form an LLC, How To Incorporate a Business, Marketing Your Business, Running A Small Business, Social Media Srategies, Starting a Business, Startup
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3 Reasons NOT to Incorporate as an S Corporation

by NellieAkalp

1 January 10th, 2012

The S Corporation has become one of the most popular business structures in America because of its tax advantages and other benefits – but what if you are trying decide how to incorporate a business and you’re not sure if an S Corporation is the right choice for you?

If you’re trying to choose a business structure, there are several reasons why an S Corporation might not be the right choice.

You’re a sole proprietor who doesn’t want the hassle: If you’re a solo entrepreneur or sole proprietor with a “payroll of one,” it might not make sense for you to set up the extra structure and formalities and compliance obligations that go with an S Corporation. If you incorporate as an S Corporation, you need to set up a board of directors, file annual reports and other business filings, hold shareholder’s meetings, keep records of your meeting minutes, and generally operate at a higher level of regulatory compliance than your business might need or want to deal with. You also will need to “do payroll,” to pay your employees, even if you’re the only employee. This can create extra costs and operational challenges. Instead of dealing with all this red tape and complexity, forming an LLC might give you greater simplicity and ease of doing business. With an LLC, as a sole proprietor you don’t have to create a board of directors or jump through as many regulatory hoops.

You want venture capital: S Corporations offer important tax advantages for small business owners – but there’s another side to that coin; the IRS only allows S Corporations to issue one class of stock. With an S Corporation, there are no “preferred shares” or specialized tiers of stock with special privileges or benefits for the shareholders. If your company wants to attract venture capital or “angel investor” financing, you might be better off as an LLC or C-Corporation, since venture capital investors often want “preferred shares” of stock in your company (as a condition of giving you their money).

You want to grow and go public: S Corporations are designed for smaller businesses and so there are limitations on ownership of an S Corporation. An S Corporation can have a maximum of 100 shareholders (married couples and families count as a single shareholder for this purpose). In contrast, big publicly traded companies that incorporate as C Corporations can have millions of shareholders. So if you have big growth plans for your business, incorporating as an S Corporation is probably not the best choice for your long-term future.

Profiles in Entrepreneurship: Julie Trade Levitch, Sourdough Communications

by Ben Gran

1 January 9th, 2012

When I decided to start my own business as a freelance writer, it was hard to find many “role models” who were doing the same kind of work that I wanted to do. One of the first people I met online who really inspired me to quit my job and start a business was Julie Trade Levitch.

Julie is a passionate PR professional, blogger, small business enthusiast, wife and mother of two. As a PR and marketing expert, Julie specializes in telling stories that sell – and her journey to starting a business is sure to inspire anyone who loves a good story…

“I became an entrepreneur suddenly and out of necessity in January 2007, when my husband was laid off from his job,” said Julie. “I had been home with our boys, and I had dabbled in freelance work. However, when my husband’s job was eliminated, we were suddenly faced with the harsh reality of losing our income, health insurance, and we had the fear of possibly not being able to pay for our home. So quickly, my entrepreneurial spirit reached new heights!”

Julie and her husband had just had a new baby, who was born premature. Since they lost their health insurance when Julie’s husband lost his job, they had to settle for a substandard health insurance plan – and their newborn baby then got sick with an emergency medical condition leading to $10,000 worth of bills. (Fortunately Julie’s son made a full recovery and is now a healthy 5-year-old boy.)

Even faced with all of these obstacles, Julie Trade Levitch went online and started finding clients for her PR, marketing and copywriting talents. She found customers on Elance, an online talent platform, and through her network of professional contacts, family and friends. Before long, Julie was making enough money to support the family, pay for the house, and pay off the medical bills. After awhile, Julie’s husband found a new job, but Julie decided to continue being an “entrepreneurial mom.” Read More→

Categories How To Form an LLC, How To Incorporate a Business, Marketing Your Business, Running A Small Business, small business operations, Starting a Business, Startup
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Archive for Starting a Business – Page 2

Hire CorpNet to Start a Business? We’ve Done it Before!

“Rome Sweet Rome:” How to Start a Business as a Side Project

Why Not Start a Business? 100 Years Ago We Were All Farmers

Why hire CorpNet to help start a business? Peace of Mind.

Top 5 Reasons for Incorporating Your Business

Top 4 Startup Mistakes When Incorporating a Business

3 Reasons NOT to Incorporate as an S Corporation

Profiles in Entrepreneurship: Julie Trade Levitch, Sourdough Communications

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