One of the most important steps you’ll need to make when starting your business is reviewing business entity types and deciding which one you should choose for your company. The structure you pick will affect your business from legal and tax obligation standpoints....
Someone once told me that a true sign of a successful entrepreneur is the ability to know when it’s time to throw in the towel and move on. One failed business doesn’t define an entrepreneur. Plus, when one door closes, another usually opens. Closing a business...
If you’re starting a new business or revisiting your decision to operate as a Sole Proprietorship, you may want to give the Limited Liability Company (LLC) some attention. The LLC legal structure offers advantages that attract entrepreneurs running small businesses...
Etsy has given artists, crafters, and collectors a highly visible online marketplace for selling their own-made arts and crafts, vintage items, and crafting supplies. Are you a talented, hands-on individual with a vision of offering your creations to customers...
The vending machine industry is one that has evolved and steadily grown over the last decade. As consumers' lives get busier and people seek convenience and time-saving options while on the go, vending machine operators have many opportunities. According to...
A Statutory Close Corporation (also known as “Close Corporation”) is a corporation that does not publicly trade stock and is formed under a special statute. This type of corporation is held by a limited number of shareholders. In some states, Close Corporations may...
The multi-member LLC is a Limited Liability Company with more than one owner. It is a separate legal entity from its owners, but not a separate tax entity. A business with multiple owners operates as a general partnership, by default, unless registered with the...
The name you choose for your business will be one of your most powerful and valuable assets. As one of the primary ways customers distinguish you from your competitors, your business name wields a lot of power. The right name can help propel you to success; the...
When deciding between an LLC vs. partnership as your company's business structure, you'll have many considerations to address. There are ramifications legally, administratively, and financially when choosing a business entity type. Rushing to a decision can have...
When forming a C Corporation, business owners need to file for a Certificate of Incorporation (sometimes referred to as Articles of Incorporation) to register their company with the state. What is a Certificate of Incorporation exactly? It is a legal document...
Limited liability companies (LLCs) and S Corporations are business structures that provide liability protection for business owners and allow for pass-through tax treatment. While they have those things (and some others) in common, they differ in several ways, too....
Some companies, such as Limited Liability Companies (LLC), choose to do business under a different name than the one they have registered in their formation documents. Like other businesses, before an LLC may use an alternate name in its contracts, advertising, and...
Payroll involves far more than just cutting a paycheck to employees. It entails calculating work hours, wages, salaries, benefits, wage garnishments, and withholding and paying employment-related taxes. So, what do business owners need to know about setting up...
As a business owner, the day will come when you inevitably will have to address the legal aspects of your business – and the sooner the better. And, fortunately, the process can be relatively painless and hassle-free. I talk to countless small business owners and freelancers who consider themselves too small to worry about incorporation. After all, you don't have mazes of cubicles…you may not even have any employees. However, incorporation can still be a smart idea even for the self-employed graphic designer or wedding planner and in this post we discuss the benefits of incorporating your small business.
Many entrepreneurs start their small businesses in their homes. Without the costs associated with renting or buying office space, it helps keep startup expenses down. Still, business owners running their companies out of their houses must pay attention to many...
It's estimated that over 70% of U.S. businesses operate as sole proprietors. That's not surprising, considering that doing so requires no formal business registration forms, few compliance requirements, and income tax reporting simplicity. But as businesses grow...
Is there a recession on the way? The best and most honest answer is maybe. Some economic signs point to a coming economic downturn, while others, like the nation operating at nearly full employment, suggest otherwise. It may be a cliché, but only time will tell. In...
You’ve heard the phrase "two heads are better than one” and that often rings true for entrepreneurs. Along with the pooled knowledge from multiple brains, having a business partner brings the perks of additional funds, a wider breadth of skills, a built-in support...
If you have your sights set on incorporating your business, you may be wondering if a C Corporation or S Corporation is the better option. While both are popular choices, nuances exist that may make one or the other more advantageous for your situation. The...
Payroll processing has a lot of moving parts. Read this post to find out what it involves and how CorpNet can help your business satisfy the requirements.
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