Ongoing Management and Protection

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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 You Need to Know About the EIDL Application Process and Document Requirements

If you haven’t yet applied for an Economic Injury Disaster Loan (EIDL), you have until December 21, 2020 to submit your application. There is no need to apply again if you’ve already applied, as the loans are vetted on a first-come-first-serve basis.

At the latest count, the U.S. Small Business Administration (SBA) has approved 3,612,236 EIDL applications, totaling $191,994,805,796 for small businesses affected by the pandemic. Unfortunately, so many small businesses continue to suffer losses, so the need for relief funding is ongoing.

Let’s do a recap of the Economic Injury Disaster Loan eligibility […]

2020-11-24T11:53:12-08:00November 24th, 2020|Categories: Ongoing Management and Protection|

How Do I Maintain a Business?

After a business is up and running, it’s critical to maintain it by fulfilling all of the required business compliance tasks on time. Of course, businesses grow and evolve over time, and therefore, the actions they must take to maintain a business entity also may change. Fortunately, CorpNet is here to help you learn how to manage your business effectively every step of the way.

Changes That Require Business Filings

What are some of the business considerations entrepreneurs should keep in mind? Below, I’ve listed several situations where changes in a business will involve […]

2020-11-09T06:16:34-08:00November 2nd, 2020|Categories: Ongoing Management and Protection|

Don’t Be Spooked by Your Annual Business Review!

For many small business owners, 2020 was anything but typical. This year (more than ever), we wanted to remind you of the positive changes that conducting an annual business review can bring to your company.

What is an annual business review? You might think this is the annual report corporations and limited liability companies (LLC) must file each year with the state. In truth, that is one part of the annual review process, the annual compliance filings, however, there is more to consider when reviewing your business.

The following are 10 areas […]

2020-10-20T12:46:46-07:00October 20th, 2020|Categories: Ongoing Management and Protection|

Business Name Vs. Trademark

What’s the Difference Between a Registered Business Name and a Trademark?

One of the first decisions new entrepreneurs make is what they will call their business. A lot, including brand recognition, rides on a business name, so naturally, it’s something business owners want to consider carefully.

On occasion, people have asked me how a business name and trademark are different. Generally speaking:

  • A business name is just that, a name a company calls itself and by which the public recognizes it.
  • A trademark, as defined by the U.S. Patent and Trademark Office (USPTO),  is […]
2020-10-19T06:42:14-07:00October 19th, 2020|Categories: Ongoing Management and Protection|

What You Need to Know About Collecting Sales Tax

Before a retailer or service provider can open for business, they first must get approval from the state for sales tax registration. Not all states charge sales tax, and not all products and services are taxable, so it’s essential to learn the facts before you find yourself in compliance hot water. Here’s what to know about your business’s responsibilities regarding the collection of sales taxes.

Sales Tax Vary by State and Sometimes by County

Currently, forty-five states and the District of Columbia collect statewide sales taxes, while five states do not have a statewide […]

2020-10-07T05:55:44-07:00October 7th, 2020|Categories: Ongoing Management and Protection|

Payroll Taxes 101

Whether you’re a sole proprietor and your company’s only employee, or a corporation with 40 employees, you are responsible for collecting and paying employment taxes to federal and state tax agencies. However, while federal payroll taxes are the same no matter where your business is located, state employment taxes differ according to income tax rates in the various states.

Payroll taxes can be a bit confusing and overwhelming to new business owners. In today’s article, I’ll break down payroll taxes so you know all the ins and outs of keeping your business in […]

2020-10-06T10:58:33-07:00October 6th, 2020|Categories: Ongoing Management and Protection|

Seven Steps to Creating a Business Emergency Preparedness Checklist

It’s an understatement to say that 2020 has been a tumultuous year. Nearly every business has felt the pandemic’s economic effects, and many have faced natural disasters (such as hurricanes, tornadoes, and wildfires).

With CorpNet’s location in southern California, I relate first-hand to the challenges that entrepreneurs have faced. Our office had to temporarily close last year because of a wildfire. Then this year, COVID-19 hit, and we again had to shut down work at our business location and pivot to operating remotely. Currently, I, my husband, and our 20+ employees are still […]

2020-09-15T10:57:41-07:00September 15th, 2020|Categories: Ongoing Management and Protection|

Back to School, Back to Your Business

For most of the country, school is back in session or at least just a few weeks away. In some cities, students may be returning to a hybrid model, which is some in-class time combined with online learning. Others may remain completely virtual until 2021. For entrepreneurial parents, that means performing a balancing act of running your own business and making sure sales are on the rebound, while also ensuring your child is engaged online, following new protocols, and keeping up with assignments.

When COVID-19 shut down most schools last March, teachers and […]

2020-09-01T09:36:19-07:00September 1st, 2020|Categories: Ongoing Management and Protection|

Virtual Companies and Nexus: What Small Businesses Need to Know

The coronavirus continues to impact small businesses. Many businesses have chosen to go virtual, either temporarily or on a permanent basis. But that decision can impact the business’s nexus status.

Companies with remote employees in other states may also need to register for foreign qualification, register for payroll taxes in those states, or they may need to start collecting sales tax from places they never have before.

Business Compliance Consequences for Pivoting to a Virtual Company

Many businesses have pivoted to a remote working model to keep employees safe and many may continue to do so […]

2020-08-21T11:26:49-07:00August 21st, 2020|Categories: Ongoing Management and Protection|

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|
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