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.

What is a DBA?

Whether that name is legally registered with the business’s home state or not, every business has a legal name. A DBA (or “Doing Business As” is a name that is different from the legal name of the company. A DBA is also referred to as the “trade name,” “assumed...

DBA With Question Marks

California LLC Franchise Tax Waived in First Year

Legislative Update Gives Exemption to New California Limited Liability Companies LLCs registered to do business in California must pay an annual franchise tax of $800 to the state's Franchise Tax Board (FTB). However, to relieve some of the financial pressures amid...

FTP Logo Overlaid on Stack of Money

Everything You Need to Know About Starting a Partnership

What is a Partnership? A partnership is a formal legal entity where two or more parties agree to manage and operate a business and share its profits and losses. Like a sole proprietorship, each partner is responsible for the assets and liabilities of the company....

Partnership Agreement on Clipboard

S Corporation Election Considerations for Corporations and LLCs

Have you been thinking about whether your business might benefit from being an S Corporation? I presented a webinar for accounting professionals about the S Corp election not too long ago. Within that presentation, I covered information of value to entrepreneurs in...

Notebook With Things to Consider Written

What Is IRS Form 2553?

IRS Form 2553 (Election by a Small Business Corporation) is the form that a corporation (or other entity eligible to be treated as a corporation) files to be treated as an S corporation for federal tax purposes. The IRS has specific criteria that entities must meet...

IRS 2553 Form

What Is IRS Form 8832?

IRS Form 8832 (Entity Classification Election) is the form an eligible business entity uses to elect federal income tax treatment other than its default treatment. Eligible entities include: Limited Liability Companies (LLCs) Partnerships (a business entity that...

IRS Form 8832

What is a Corporate Resolution?

A corporate resolution is a formal record of a corporation's board of directors' decisions and actions on behalf of the company. States require incorporated companies to use corporate resolutions for recording major business decisions. The company's board of directors must vote to approve resolutions either during board meetings or in writing. 

Older Businessman Reading Document

The Best Business Entity for Professionals

In most states, professionals, such as attorneys, doctors, optometrists, certified public accountants, architects, psychologists, and psychiatrists, have fewer choices when it comes to selecting a legal structure for their businesses. Legal entities (such as...

Female Medical Professional

What You Need to Know About Sole Proprietorships

By far, sole proprietorships are the most popular form of business ownership. Starting your entrepreneurial journey as a sole proprietorship is also the easiest route for a startup business owner to take as the paperwork and compliance requirements are minimal....

Young Female Business Owner

How Should Real Estate Investors Structure Their Businesses?

Owning investment properties can be exciting and lucrative. However, investments in real estate, whether vacation rentals, long-term rentals, or properties for resale, can also create liabilities. That's why it's critical for real estate investors to wisely choose...

Mini Houses on Stacks of Coins

What Is the Difference Between Sales Tax and Sellers Use Tax?

Whether you sell products or services in one state or many states, it’s imperative to understand your business’s sales tax compliance requirements. To correctly register a business in a state and then file and the proper sales tax, you need to know the difference...

Woman at Store Checkout with Credit Card

Tax Saving Features of Corporations, S Corporations, and LLCs

I regularly speak to business owners about entity types and their potential impact from a tax perspective. A while back, I created a webinar for accountants (and other professional services providers that work with businesses) on the topic of business structures...

Tax Savings Webinar Video Cover

How to Properly Handle Your Company’s Annual Meeting Minutes

Businesses that have incorporated as a corporation or formed a limited liability company (LLC) must carefully document their compliance activities. For example, when a corporation holds its annual general meeting (a.k.a, annual shareholder meeting), it must keep a...

Annual meeting text on blackboard

10 Ways to Promote Your New Business

Excited to start your new business in the coming year? Whether you’re forming your company as a sole proprietorship or a Limited Liability Company (LLC), promoting a new business takes strategizing and fresh ideas. Otherwise, it’s challenging to get your new...

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Articles of Incorporation vs. Articles of Organization

If you're thinking about starting a business, you’ll want to research which business entity type will be most advantageous to you. As you go through that process, you will discover that various documents and filings need to be submitted to the state to form a...

Man Reviewing Documents

What are Articles of Organization?

Have you decided to operate your business as a Limited Liability Company (LLC)? If you answered yes, you must comply with your state's requirements for registering your company. Those responsibilities include filing an articles of organization (sometimes called a...

Legal Documents Illustration

What Comes After Incorporation? 12 Steps to Keep You On Track

Congratulations! You have officially registered your Limited Liability Company or Corporation with the state. But now what? What happens next? While forming an LLC or Corporation is a critical first step to operating a formal business entity, there's more work to...

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Don’t Be Spooked by Your Annual Business Review!

For many small business owners, 2020 was anything but typical. This year (more than ever), we wanted to remind you of the positive changes that conducting an annual business review can bring to your company. What is an annual business review? You might think this...

Year End Review Written on Pad

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