Ongoing Management and Protection

CorpNet’s blog posts offer a wealth of information for navigating through the ongoing management and protection of startup and business operations. Our articles are written by industry experts who have the experience to help you avoid common and unnecessary mistakes.

What Is Reasonable Compensation for an S Corporation?

If you're considering taking an S Corporation election, it's important that you review what obligations are involved in keeping an S Corporation viable. An important part of this review includes an evaluation of the reasonable compensation requirement. What is an S...

Man Holding a Paycheck

Trademarks vs. Copyrights vs. Patents

From your company logo to your trade secrets, your business’s intellectual property has value. That’s why it’s important to take measures to protect it. What are the various types of intellectual property and how can business owners’ safeguard them?  Here’s a...

Trademark and Copyright Icons in Vending Machine

How to Protect Your Brand with Trademarks

If you’ve incorporated your business or formed a limited liability company, you’ve taken critical first steps toward building a successful business. When registering your business, you’ve protected your company name from being used by competitors in the state the...

Registered Trademark Stamp

The S Corp Election Deadline is Right Around the Corner

The S Corporation election deadline for LLCs and C Corporations is March 15, 2022. So, if you’re considering changing your limited liability company or C Corporation tax treatment from its default status to an S Corp, time is of the essence!! About the 2022 S Corp...

S Corp on Tablet

What Business Owners Need to Know About Filing Taxes in 2022

Tax season is right around the corner. A lot has changed, tax-wise, in the past year due to new legislation. Here’s a quick look at what business owners need to know about filing their taxes in 2022. Sole Proprietorship Sole proprietors are unincorporated...

Stack of US Tax Forms

Registered Business Name Vs. Trademark

One of the first decisions new entrepreneurs make is “What should I name my business?” A lot of brand equity gets built around a business name, so it’s essential to protect that valuable marketing asset. During a presentation to accounting professionals, I...

Woman With Two Thought Bubbles, One With Business Name and One With Trademark

10 Legal Documents You Must Have to Start a Small Business

If starting a new business is on your 2022 New Year’s resolution list, we’re here to help you begin on the right (and legal) path.Here are 10 must-have legal documents you need to start a new business.1. Business PlanTechnically, a business plan is not a “legal”...

Legal Document

How Do LLC Owners Get Paid?

As a small business owner, how you pay yourself depends on your business’s legal structure and how you elect to pay taxes. The Limited Liability Company (LLC) is a popular legal entity offering liability protection to its owners (called members), simple compliance...

Happy Woman Throwing Money Above Laptop

How to Draft Meeting Minutes in the New Year

Along with other annual business compliance responsibilities, corporations (and sometimes LLCs) must hold various meetings and record minutes from those meetings. With the new year ahead, new entrepreneurs and existing business owners need to make sure they...

Minutes of the Annual Meeting of the Board of Directors

How Often Does an LLC Pay Taxes?

If you’re considering starting a Limited Liability Company (LLC) or restructuring your business as an LLC, it’s important to know how often an LLC pays taxes and how to file business taxes for an LLC. As an LLC, your company benefits from receiving personal...

Cartoon of Financial Reports and Calculator on Desk

How to File Taxes as a Limited Liability Partnership

As a startup with more than one business owner, you have your choice on how you want to legally structure your company. The decision isn’t to be taken lightly since a business’s structure affects how you organize your company, registration requirements, compliance...

Bullhorn with Tax Tips

What You Need to Know About the Qualified Business Income Deduction

Tax considerations are a significant factor in how entrepreneurs structure their businesses. The qualified business income deduction (or QBI tax deduction) is an important tax deduction that allows eligible businesses to deduct up to 20% of their qualified business...

Man Cutting Tax With Scissors

What You Need to Know About Work From Home Tax Deductions

According to Global Workplace Analytics, 25-30% of the workforce will be working from home multiple days a week by the end of 2021. Already a trend before the pandemic, remote working became the “new normal” for businesses of all sizes struggling to stay afloat...

Tax Form iPad Calculator

Filing Annual Meeting Minutes Before Year End

Depending on a business’s entity type and the state it’s registered in, its owners may be required to hold annual meetings and record minutes from those meetings. But how do you know if that requirement applies to your company? In this article, I'm going to explain...

Minutes of the Annual Meeting of the Board of Directors

Maintain Business Compliance to End the Year in Good Standing

As we move into the fall and winter months it's time to begin thinking of year-end compliance responsibilities and business activities. We'd like to help you prepare for the year-end and we want to help you get all your legal ducks in a row. To assist in these...

December 31 Highlighted on Calendar

How to Proactively Manage Small Business Compliance

Besides going through all the proper steps to set up a business, understanding and following through with ongoing compliance requirements is immensely important. I regularly address small business compliance considerations in my writings on the CorpNet blog and...

Woman With Clock and Flying Paperwork

Hiring Family Members in a Small Business

I'm often asked if it is advantageous for a small business to hire family members. Some entrepreneurs have asked if hiring relatives presents legal issues, while others have asked if it is ethical. Whether you believe this practice is good business or nepotism,...

Father and Daughter Working in Bakery

How to Reinstate a Revoked 501(c)(3) Status

As a 501(c)(3) nonprofit, an organization does not have to pay federal income tax on its profits related to its business purpose. That’s an important advantage as it allows organizations to keep more of their profits and use them to further their causes. However,...

Rejected Paperwork With Large Red X

What Is an Annual Franchise Tax Report?

Not all, but some states require business entities to file an annual report and pay a franchise tax each year. While the name suggests that a franchise tax report might only apply to businesses that are franchises, that’s not the case! A franchise tax is a fee that...

Money Bag and Calendar

Filing an Intent to Use Trademark Application

Choosing the perfect business or brand name is only half the battle when starting a new venture. You need to protect that name from getting stolen or misused. But what if you haven’t started using the brand name yet? The good news is even if your website is still...

Trademark Application Process on Laptop

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