You'll likely encounter some unfamiliar terms when forming and managing your business. One phrase is a registered office, which refers to the physical address where a company receives service of process, which are legal documents and government notices that need...
When someone sues an LLC, the procedure of delivering the legal paperwork that initiates the lawsuit and allows it to proceed is referred to as service of process. Service of process notifies the LLC of the lawsuit, and it establishes that the court hearing the...
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...
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...
As a serial entrepreneur with a heart for helping other entrepreneurs, it pains me to see business owners misled by registered agent services providers who offer bargain basement prices. These low-priced registered agents focus on offering the cheapest price...
The word “subsidiary” gets tossed about a lot in the world of business. But what does it really mean? A subsidiary is a company owned or controlled by another business entity (known as a parent company, holding company, or umbrella company). A parent company might...
It may seem very appealing to use a UPS store or PO Box for your registered agent, but this comes with a lot of risks. And in some states, this action can result in the closure of your business. Let's walk through what a registered agent is and why opting to use a...
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...
According to IBISWorld, the food truck industry has 25,476 businesses in 2020. Growth in the industry from 2015 to 2020 averaged 8.7%. With the COVID-19 crisis a reality now, arguably, the food truck industry may be better suited than brick-and-mortar restaurants...
A lot of entrepreneurs wonder what state should be used to incorporate a new business. Should it be 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...
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...
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. What is a Limited Liability Company? A Limited Liability Company (LLC) is a formal business structure that is...
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, new small businesses choose to operate as a sole proprietorship or general...
If you’re considering forming a Limited Liability Company (LLC), you’re likely drawn to the business structure because it provides personal liability protection for the business owner, the simplicity of pass-through tax status, and ease of administration thanks to...
Did you structure your business as a C Corporation or LLC for limited liability protections? For most scenarios the extra filing requirements, paperwork, and fees are worth it—your personal liability protection helps make sure your assets are protected from the...
People interpret the American dream differently. For many foreigners, it likely represents an opportunity for prosperity and success. Coming to the United States and starting a business is often the start of that prosperity. The United States government allows...
Daycare businesses provide a critical service to working families. Parents and guardians need reliable, responsible childcare services to ensure that their children are well taken care of while adults in the household work hard to earn a living. Before starting a...
Many business owners operate multiple businesses and there’s a good reason for that. Once you have one business and business structure in place, it’s much easier to get a new business off the ground than if you had to start from scratch each time. At some point in...
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)...
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