A lot of entrepreneurs wonder what state should be used to incorporate a new business. Is it their own state or maybe another state like Delaware or Nevada? There is no easy answer to that question, however, there are definite benefits for some businesses to...
Before a retailer or service provider can open for business, they first must get approval from the state for sales tax registration. Not all states charge sales tax, and not all products and services are taxable, so it’s essential to learn the facts before you find...
Whether you’re a sole proprietor and your company’s only employee, or a corporation with 40 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 matter...
It's an understatement to say that 2020 has been a tumultuous year. Nearly every business has felt the pandemic's economic effects, and many have faced natural disasters (such as hurricanes, tornadoes, and wildfires). With CorpNet's location in southern California,...
If you’re considering filing as an LLC (Limited Liability Company), it’s probably in part because this business structure provides business owners with liability protection and pass-through tax status, while minimizing the business formalities and paperwork you’re responsible for.
According to IBISWorld, the food truck industry has 25,476 businesses in 2020. Growth in the industry from 2015 to 2020 averaged 8.7 percent. With the COVID-19 crisis a reality now, arguably, the food truck industry may be better suited than brick and mortar...
Every business owner hopes to reach the peak of business success. You know, when you’re just crushing it—when smooth operations and growing profits allow you to breathe a satisfied sigh of contentment and pride. This year that feeling may seem farther from your...
Daycare businesses provide a critical service to working families. Parents and guardians need reliable, responsible child care services to ensure that their children are well taken care of while adults in the household work hard to earn a living. Even during the...
When you’re starting a business there’s so much to know, it can be overwhelming.  Let us take some of the complexity out of the startup process by answering the top FAQs entrepreneurs have about small business licenses and permits. Is a business license the same as...
Tax season is over (for most of us). So, what’s next for business owners and professional advisors with business clients? With so much disruption and distraction this year, you may have fallen behind keeping up with compliance for business licenses, permits, and...
Are you thinking about how to start a restaurant business? Without a doubt, it's an industry that contributes immensely to our economy. According to statistics from the National Restaurant Association, there are over one million restaurant locations in the United...
When you’re starting a small business that has more than one owner, you and your partner(s) may have concerns about your personal liability risks. If this is the case, it would be wise to compare LLP vs. LLC business structures. Limited liability partnerships (LLP)...
As far back as October 2019, half of Americans were already concerned a major recession was on the horizon and now that concern has become a reality, according to top economists. According to the National Bureau of Economic Research, the U.S. economy actually...
Clients need their accountants more than ever in our post-COVID-19 world. Whether it’s getting ready for the extended tax deadline, figuring out how to utilize government relief funds or how to start a new business in a recession, accountants need to make sure...
You have much to think about and many questions to answer when starting a business. One of the most fundamental considerations is what type of business structure is right for you. Often, brand new small businesses choose to operate as a sole proprietorship or...
Business owners are constantly moving. Whether it’s tracking new trends, operating the shop, meeting with clients, or attending networking events, you’d think there can’t be one more thing to add to their plates. And then, COVID-19 hit. As business owners...
Things are different today due to the global coronavirus pandemic. While we may eventually get back to some version of normal, when that happens is subject to much debate. COVID-19 changed how business gets done, from suppliers and distribution to sales and...
As the country makes plans to reopen restaurants, retail, public buildings, and schools, your topmost concern should be the safety and well-being of workers and customers alike. Your reopened business will be scrutinized and the measures you take to reopen safely...
If you love the outdoors and have always wanted to start a business relating to your outdoor passion, now is a great time to take advantage of the country’s desire for outside activities. Here are some outdoor business ideas and trends you need to know to get you running on the right path to business success.
Do you need a register an LLC to obtain a hard money loan for your real estate investment? Let's explore the LLC and hard money loans so you can decide. Limited Liability Companies When it comes to investing in real estate, most investors choose to create a...
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