Whew! You made it through the crazy-busy tax season, and I hope you and your fellow accounting professionals are enjoying some much-deserved time to relax. With the lion’s share of your firm’s revenue secured in the first four months of the year, you may now be...
Of the more than 30 million small businesses in the United States, 35% are Limited Liability Companies (LLCs), according to the Small Business Administration. LLCs are a popular business entity for a number of reasons. They’re relatively easy to get up and running...
At any time, a percentage of the labor force is unemployed for various reasons. According to the United States Department of Labor, 6.4 million (3.8%) people across the U.S. were unemployed in March 2024. State unemployment insurance is a critical support program...
While you’re probably familiar with a business entity known as a Limited Liability Company, or LLC, you may not realize there are different types of LLC business structures. If the business has just one member, it’s known as a single-member LLC. If there are two or...
A domestic and foreign LLC refers to the state where the LLC is created. Registering your business as a foreign LLC (also known as a foreign qualification) is required under certain circumstances when you operate your business outside of the state in which you’ve...
Is it better to form a Limited Liability Company (LLC) or a C Corporation? Many entrepreneurs ask that question as they work through the many facets of transforming their dream of business ownership into a reality. The business structures have similarities and...
If you own a Limited Liability Company, C Corporation, or other registered business entity in Georgia and you want to open a business bank account, expand your business into another state, seek funds from investors, or conduct certain other business activities,...
The Corporate Transparency Act’s Beneficial Ownership Information Reporting Rule went into effect in January 2024, leaving many business owners wondering: Are they required to submit a Beneficial Ownership Information (BOI) Report? What’s the difference between...
If you own a business that’s registered with the state in which you operate, such as a Limited Liability Company, a C Corporation, or a Limited Liability Partnership, it’s likely that at some point you’ll be asked to provide a Certificate of Subsistence. A...
If the bed-and-breakfast you own and operate runs at full capacity for the months of July and August and the work is too much for you to do on your own, you might consider hiring temporary employees to help. The same goes for a consulting firm that just landed an...
One of the main reasons to create an LLC or to incorporate revolves around asset protection. The business structure legally separates the assets of the ownership from the assets of the company. The corporation may be sued (and even go bankrupt) without loss of...
Tax implications are among the most important factors to think about when deciding on a business entity type. Some business owners are attracted to the simplicity of pass-through taxation, which is how a sole proprietorship, partnership, LLC, and S Corporation are...
Most builders and real estate investors understand the importance of protecting personal assets and optimizing their tax situation. One way to address both concerns is by choosing the right business structure for holding rental properties. Many property developers...
Choosing a business structure for your company is one of the most crucial first steps to starting a business. Your business entity type has legal, financial, and administrative implications, so it’s important you get started with the best entity for your...
Starting in 2025, Pennsylvania will retire its decennial report requirement and instead require many business entities to file annual reports. Going from reporting every ten years to every year is a result of 2022 Act 122, which Governor Tom Wolf signed into law....
You’ve likely heard buzz about the U.S. District Court for the Northern District of Alabama’s March 1, 2024, ruling that the Corporate Transparency Act (CTA) is unconstitutional because it oversteps Congress’s legislative authority. As a result, plaintiffs in the...
If the thought of starting your own business seems overwhelming, there’s an option you could consider to streamline the start-up process and make it more workable. Instead of starting from scratch to build an independent business, you could consider franchising....
Along with deciding whether your company will operate as a Sole Proprietorship, Limited Liability Company (LLC), General Partnership, C Corporation, or S Corporation, selecting the right name for your new business is an important early step. And while choosing a...
Many business owners who operate as a Sole Proprietorship or Partnership use a DBA (Doing Business As) name to market their business more effectively and present a more professional image. A DBA can serve a business well, but it’s important to realize it is just a...
CorpNet is proud to announce that it has made Inc.’s prestigious Inc. Regionals Pacific list in 2024 as one of the fastest-growing private companies in the country. This is the third year CorpNet has been honored in the regional awards. With a healthy 259% 2-year...
If you find joy in working on your own, managing day-to-day operations while scheming grand plans for the future, you may have what it takes to become a successful solopreneur. While there have always been solopreneurs, the concept of a person forming and growing a...
If you’re the owner of a single-member LLC, you may be wondering if you need an operating agreement for your business. It’s a valid question. You may assume that since you are the sole owner you probably don't need an agreement. After all, you are in complete...
A C Corporation is a legal structure for a company that is authorized by the state to conduct business. Its owners, who are referred to as shareholders, are taxed separately from the business, and in most cases cannot be held personally responsible for business...
Some states require business owners to publish a notice in a local newspaper after they form or make certain changes to their business entities. States’ publishing requirements help inform the public about new business entities and significant changes to existing...
A Sole Proprietorship is the most popular business structure in the U.S., with nearly three out of four businesses operating as one. But if you’re running a Sole Proprietorship or thinking about starting a business that will operate as one, it’s important that...
Whether you’re a Sole Proprietor with only a handful of workers or a corporation with hundreds of employees, you are responsible for collecting and paying employment taxes to federal and state tax agencies. However, while federal payroll taxes are the same no...
2024 has arrived, which means businesses across the United States need to start thinking about filing taxes for 2023. It’s time to determine deadlines and research any legislative and tax code changes that may affect you and your company. For guidance in preparing...
Per the recently passed Corporate Transparency Act (CTA), owners of smaller Limited Liability Companies (LLCs) and corporations will soon have another compliance requirement to adhere to this year. LLCs and corporations with fewer than 20 employees must report...
There are a whole host of reasons to incorporate as a C Corporation. For example, the C Corporation is the preferred structure if you intend on seeking VC funding or taking the company public. However, forming a C Corporation involves more paperwork, legal fine...
In the course of running your business, you’ve probably encountered more legal fine print and formalities than you ever thought possible. In this post, we’ll break down the Doing Business As (DBA) to see if your business needs one.
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