NellieAkalp

Home » Blog » Archives for Nellie Akalp
Nellie Akalp

About Nellie Akalp

Nellie Akalp is an entrepreneur, small business expert, speaker, and mother of four amazing kids. As CEO of CorpNet.com, she has helped more than half a million entrepreneurs launch their businesses. Akalp is nationally recognized as one of the most prominent experts on small business legal matters, contributing frequently to outlets like Entrepreneur, Forbes, Huffington Post, Mashable, and Fox Small Business. A passionate entrepreneur herself, Akalp is committed to helping others take the reigns and dive into small business ownership. Through her public speaking, media appearances, and frequent blogging, she has developed a strong following within the small business community and has been honored as a Small Business Influencer Champion three years in a row.

The Advantages and Disadvantages of a Subchapter S Corporation

Before the advent of the S Corporation in 1958, entrepreneurs had two options for forming a business entity. They could form a partnership or form a C Corporation. But neither of those business structures fulfilled the needs of many people seeking to start their own businesses. To help encourage small businesses in America, Congress and President Eisenhower created the Subchapter S Corporation.

You may be thinking, “That’s really interesting, Nellie, but unless I’m attending a business trivia night anytime soon, why should I care?”

Hang in there—we’re getting to that! Whether you’re a business […]

2020-02-17T15:01:47-08:00February 17th, 2020|Categories: Ongoing Management and Protection|

5 Things to Know About the 2020 S Corporation Election Deadline

The New Year (a.k.a. 2020) is moving along swiftly. Martin Luther King, Jr. Day has passed, the Grammy’s have come and gone, and many a person has already given up on their well-intended New Year’s resolutions. Fortunately, if requesting S Corporation tax treatment for your business in 2020 is on your list of resolutions, there’s still time to make it happen.

Why Consider S Corporation Election?

S Corp election is a tax treatment option available to eligible limited liability companies (LLCs) and corporations (C Corporations). Entrepreneurs should discuss with their attorney and […]

2020-02-17T08:13:34-08:00February 17th, 2020|Categories: Ongoing Management and Protection|

How to Start a Vending Machine Business

The vending machine industry is one that has evolved and steadily grown since 2012. As consumers’ lives get busier and people seek convenience and time-saving options while on the go, vending machine operators have many opportunities. Have you been thinking about how to start a vending machine business?

In this article, we’ll talk about:

  • What the industry looks like for entrepreneurs
  • Advantages of operating a vending machine company
  • Ways to get into the vending machine industry
  • 13 steps to get you started off right

Vending Machine Business Outlook

According to the Automatic Merchandiser State of […]

2020-02-06T04:58:19-08:00February 5th, 2020|Categories: Startup and Launch|

Does Your Business Need a Sales Tax License?

Does your business need to collect sales tax and remit it to the state or local tax authority? And if it does, how do you go about getting a sales tax license? Moreover, what if your business is selling your products across state lines? Do you need to charge and remit sales tax in those states, too?

These are all valid and important questions! We’re going to delve into them in this article to give you some helpful food for thought as you research what requirements apply to your business.

Please keep in mind […]

2020-01-24T06:46:17-08:00January 24th, 2020|Categories: Ongoing Management and Protection|

16 Considerations When Choosing a Business Filings and Compliance Provider

Entrepreneurs cannot succeed in business completely on their own. Yes, they leverage their talent, expertise, and skills. But they also recognize when to delegate tasks and responsibilities to others with the knowledge and proficiencies they lack. For example, not very many business owners know all the ins and outs involved preparing and submitting the paperwork involved in setting up a business entity and keeping it compliant. Rather than trudge through the process and hope for the best, it’s wise for business owners to enlist the help of a business filings and compliance […]

2020-01-20T07:25:14-08:00January 20th, 2020|Categories: Startup and Launch|

Tax Savings Features of Corporations, S Corps and LLCs Under TCJA

The Tax Cuts and Jobs Act (TCJA), made tax law changes that affected every business. Deductions, depreciation, tax credits, and corporate tax rates will make filing taxes different for you and your clients this year. Generally speaking, most of your business clients will do well under the TCJA, but there are a few tax breaks that have been lowered or eliminated. Here’s what you need to know.

Changes for Corporations

Corporations will feel the biggest impact from TCJA, primarily in a positive way. Pre-TCJA, corporate tax rates were similar to individual tax rates, in […]

2020-01-13T10:02:25-08:00January 13th, 2020|Categories: Ongoing Management and Protection|Tags: |

Remaining Independent Under California’s New AB5 Law

Whether you work as an independent contractor or your business hires independent contractors, California’s new AB5 law, which went into effect January 1, 2020, forces your hand on becoming an employer or an employee depending on how you conduct your business.

The Existing Employee vs. Contractor Designation

Up to now, you’ve probably made sure you’re adhering to the IRS classification rules for independent contractors, which are as follows:

  • Behavioral Control: A worker is an employee when the business has the right to direct and control the work performed by the […]
2020-01-13T11:36:51-08:00January 10th, 2020|Categories: Ongoing Management and Protection|

Help Your Clients Decide if it’s Time to Incorporate or Form an LLC

Among all the decisions and actions a small business may need to take, one of the more important is deciding whether to incorporate or form an LLC.

January is the most logical start date for a new LLC or corporation since it eases the paperwork burden. Your clients can start fresh in the new year with their new legal structure and don’t have to worry about reporting taxes as two different entities for the tax year.

At this time of year, sole proprietors and general partnerships may be wondering if it’s time […]

2020-01-09T14:47:46-08:00January 9th, 2020|Categories: Ongoing Management and Protection|

Can You Change an LLC Name?

The decision to change an LLC name is one not to consider lightly. After all, your business name is one of your most important brand assets. But sometimes, a name change is in order for one of many reasons. Perhaps there was a mistake in your formation paperwork, so you need to correct the name. Or perhaps the name was fine in the past, but now it’s not because it includes the name of a business partner who just retired. Or maybe your business has expanded into other products or services, and […]

2020-01-08T08:03:37-08:00January 8th, 2020|Categories: Ongoing Management and Protection|

Is it Time to Revisit C Corporations for Your Small Business Clients?

For more than a decade, I (and probably you too) have typically advised small businesses to opt for a Limited Liability Company over a C corporation due to its ease of administration and tax advantages. However, the 2017 Tax Cuts and Jobs Act now creates the opportunity for big tax savings for C corporations and should make us rethink our general guidance.

We’ve got a full tax season under our belts since the Tax Cuts and Job Act was enacted. It’s a good time to take a fresh look at corporate structures […]

2020-01-09T14:46:28-08:00January 3rd, 2020|Categories: Ongoing Management and Protection|