Ongoing Management and Protection

//Ongoing Management and Protection

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.


A Mid-Year Business Checklist to Get You Back on Track

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 identification numbers. Here’s a mid-year business checklist to get you back on track.

Federal Tax ID

Getting a Federal Tax ID number (or an Employer Identification Number—EIN) is optional if you’re a sole proprietorship, but if your business acts as a CorporationLimited Liability Company, or a partnership, you and your […]

2020-08-03T09:52:24-07:00August 3rd, 2020|Categories: Ongoing Management and Protection|

What Kinds of Liability Should Accounting Professionals Be Concerned About Right Now?

Minimizing legal risks to your business has always been important. However, with so much uncharted territory and change within the current environment, it has become especially critical to look out for situations that could become problematic liability issues for your firm.

Stephen Covey once said, “If there’s one thing that’s certain in business, it’s uncertainty.”

That has never been more accurate than now. With the coronavirus pandemic persisting, nearly every company in every business sector faces uncertainty. As accounting professionals, these times of uncertainty bring a double dose of challenges your way:

  • Your own […]
2020-07-02T10:03:33-07:00July 2nd, 2020|Categories: Ongoing Management and Protection|Tags: |

Are Your Accounting Clients Worried About a Recession? Why They Need You Now More Than Ever

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 stopped growing in February this year, following an economic expansion that lasted more than 10 years. And, it all happened fairly quickly as the COVID-19 pandemic effectively shut down the economy and compounded unemployment.

So, it’s not at all surprising your accounting clients are worried about the recession. It’s up […]

2020-07-02T06:22:40-07:00July 2nd, 2020|Categories: Ongoing Management and Protection|Tags: |

How To Safely Reopen Your Small Business to the Public

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 will go a long way in how your clients and customers feel about supporting your company post-pandemic. The risks are still real so it’s important to be scrupulous in formulating your reopening plan and how you execute it.

Below are a few tips and suggestions to help you safely reopen your small […]

2020-06-15T10:44:37-07:00June 3rd, 2020|Categories: Crisis Management, Ongoing Management and Protection|

Time for a Change? The What and How of Business Entity Conversion

The one constant is change. Forgive the cliché, but I think it’s an appropriate introduction as I address the topic of business entity conversions.

Your clients’ businesses evolve over time — and the business environment in which they operate changes as well, especially at a time like this when the COVID-19 pandemic is having such a far-reaching impact on businesses of all kinds. As a result, the business structure they chose as a startup may no longer be the most advantageous one for their current situation. What happens at that crossroads? It might […]

2020-06-01T06:49:42-07:00June 1st, 2020|Categories: Ongoing Management and Protection|

How to Move A Business To Another State

When you move from one house to another, you likely have a checklist of things you need to take care of in the process…changing your mailing address, calling your cable TV provider, contacting your internet company. But when moving your business to another state, many business owners don’t know where to begin.

There are many reasons to consider moving your business to another state. For example:

  • Your target market has changed—economically and/or demographically.
  • The cost of real estate (including property taxes) has risen so much your business is at risk of going under.
  • […]

2020-05-26T09:43:58-07:00May 26th, 2020|Categories: Ongoing Management and Protection|

What Does It Mean to Have Multiple Trademark Owners?

One of the many risks business owners face is one that rarely comes to mind—but could put your business in a dangerous position. We’re talking about trademark protection for your intellectual property. A trademark is a word, phrase, name, or symbol that identifies the source of a product or service and distinguishes it from competitors. You can trademark your company name, product names, logos, and taglines.

Running a Business Without Trademark Protection

Without the protection of a federally registered trademark:

  • Your company or product name could be stolen. Without trademark ownership, it’s easier for […]
2020-05-18T07:08:07-07:00May 18th, 2020|Categories: Ongoing Management and Protection|

What to Know About Business Entities and How You Can Save on Taxes Next Year

Businesses of all sizes and industries have been put through the proverbial ringer in 2020. No one could have foreseen the toll the coronavirus would take on entrepreneurs from independent contractors to C corporations and everyone in between. One positive thing, however, is the tax deadline has been pushed to July 15, 2020. That means there’s still time to learn about the tax issues based on your business entity and take advantage of some tax savings on your 2021 return, no matter what your legal structure.

Sole Proprietorship

In a sole proprietorship, there is […]

2020-05-13T11:20:06-07:00May 13th, 2020|Categories: Ongoing Management and Protection|

Help Your Clients Stay Compliant in a World of Information Overload

Your business clients are dealing with a barrage of information as the coronavirus pandemic evolves. The deluge of new requirements, rules, and recommendations related to COVID-19 has become overwhelming for many entrepreneurs. As a result, some of them may have temporarily lost sight of their ongoing business compliance filings.

They need your help!

Fortunately, many state governments have deemed professional services providers in the financial and legal industries as essential. Even if your business is under stay-at-home orders, you have ways to serve your clients remotely by embracing technology tools, like video conferencing. This […]

2020-05-11T09:22:09-07:00May 11th, 2020|Categories: Ongoing Management and Protection|Tags: |

10 Mistakes to Avoid When It Comes to the CARES Act Funding Relief

With tons of misinformation swirling out there, you may be afraid of making a crucial mistake when it comes to applying for and receiving CARES Act relief funding. Here are 10 mistakes to avoid.

Application Mistakes

1. Not Being Prepared

Any delay in your application could mean your business gets bumped to the bottom of the list. Have on hand:

  • Basic business and contact information
  • Average monthly payroll costs including employee salaries, wages, and commissions; payment of cash tips; payment of vacation; parental, family, medical or sick leave, insurance premiums, etc.
  • 2019 Tax Forms (all […]
2020-06-15T10:44:38-07:00April 27th, 2020|Categories: Crisis Management, Ongoing Management and Protection|
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