If you’re a principal or shareholder of an S-corporation, you already know the many tax advantages the structure provides you—and the few disadvantages you have to deal with.

Being part of an S-corp means your shareholder assets are protected and you can take advantage of pass-through taxation and other tax benefits, making the S-corp entity a good choice for both you and the business.

But what happens when the corporation needs an influx of money? The business may need to replace an expensive piece of equipment or grab a larger lease space that […]

Happy holidays! Too soon? Not really, especially because the National Retail Federation (NRF) estimates 2019 holiday retail sales will grow between 3.8% and 4.2% over last year. In dollars, that means between $727.9 billion and $730.7 billion. With numbers like those, your business had better be well-organized for the frenetic holiday season ahead. Here are five ways to make sure your business is positioned to take the holidays by the reins!

Get Your House in Order

I don’t know about you, but I can always think clearer with a clean office and […]

What is an LLC-5?

The LLC-5 is a California State form used when a domestic limited liability company formed in another state (or country) wishes to become a foreign limited liability company in California.  The official name of Form LLC-5 is “Application to Register a Foreign Limited Liability Company.” Approval to operate as a foreign LLC is known as “foreign qualification.”

As a business owner, learning more about the LLC-5 and the process of becoming a foreign LLC in California will serve you well if you’re thinking about expanding your company. If you have […]

One of the most important decisions you can make that determines the long-term success of your business is figuring out how to stay on top of your finances. In the beginning, as you get your business up and running, it might seem easier to keep your personal finances and business transactions together in a centralized place. That way, you only need to check one place to track your daily cash flow.

As the business grows, however, having a separate business bank account is what you need to set yourself up for long-term financial success.

Before […]

Despite your best efforts to choose the perfect name for your company, there may come a time when that name no longer is the best fit. Perhaps the business name no longer accurately reflects your brand or there are legal considerations at play. Regardless of the reasons to make a business name change, it’s a process that many entrepreneurs find confusing. The steps involved can vary depending on the business entity type and state of registration.

You may not expect ever to have to change your company name but knowing what to expect […]

What Is a fictitious name? A fictitious name is a name other than your proper legal business entity name that you formally get permission from the state (or county) to use when conducting business. You may also see a fictitious business name referred to as:

• Doing Business As (DBA)
• Assumed name
• Trade name

Throughout this post, I will use the terms “fictitious name” and “DBA” interchangeably. At CorpNet, we help business owners throughout the United States file DBAs. Fictitious names can benefit businesses of all types—from sole proprietorships to LLCs to corporations.

At […]

Professionals like you, who help entrepreneurs navigate the challenges of starting and growing their businesses, will likely encounter clients asking about a “Letter of Good Standing.” Let’s take a moment to talk about what a Letter of Good Standing is and why maintaining a status of good standing is so important.

What Does a Letter of Good Standing Mean?

A Letter of Good Standing refers to a certificate issued by a state’s Secretary of State office (or comparable agency). It verifies that a registered business (e.g., an LLC or corporation) has complied with […]