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.

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 webinars that I present to accounting and tax professionals. Compliance is mission-critical to entrepreneurial success, so in […]

2021-09-23T07:05:04-07:00September 23rd, 2021|Categories: Ongoing Management and Protection|

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, there are a lot of companies hiring relatives in full-time and contract […]

2021-09-07T11:25:08-07:00September 7th, 2021|Categories: Ongoing Management and Protection|

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, if a nonprofit organization fails to file the required reports and […]

2021-08-31T10:29:50-07:00August 31st, 2021|Categories: Ongoing Management and Protection|

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 companies pay for the privilege of being registered […]

2021-08-31T05:37:18-07:00August 24th, 2021|Categories: Ongoing Management and Protection|

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 under construction and marketing materials are […]

2021-08-24T09:03:22-07:00August 24th, 2021|Categories: Ongoing Management and Protection|

How to Revoke an S Corp Election

Many limited liability companies (LLCs) and C Corporations choose to be taxed as S Corporations to lower their tax burden. It’s relatively easy to do as long as the business entity meets IRS requirements and files Form 2553. But what happens if a business owner finds an S Corp hasn’t worked to their advantage? […]

2021-08-24T08:43:00-07:00August 24th, 2021|Categories: Ongoing Management and Protection|Tags: |

Back to School, Back to Your Business

Schools will soon be back in session across our country. COVID-19 continues to present challenges — and debates over our children’s learning environment. However, we see some glimpses of our former “normal” as most schools are transitioning from virtual and hybrid classes back to in-person learning.

Also, at this time, business owners who have switched to […]

2021-08-24T11:41:46-07:00August 24th, 2021|Categories: Ongoing Management and Protection|

Why You Should Keep Business and Personal Finances Separate

There’s a lot of misinformation out there about keeping business and personal finances separate. Truthfully, most entrepreneurs tap into their personal savings to start their businesses, so opening separate bank accounts isn’t their top priority when there are so many other things to handle. However, not maintaining independent business and personal bank accounts can cause […]

2021-07-26T09:32:36-07:00July 26th, 2021|Categories: Ongoing Management and Protection|

What Is a Biennial Report?

Most states require limited liability companies (LLCs) and corporations to submit some form of ongoing business entity filing. While many states require these filings annually (i.e., “annual reports”), several require these types of reports biennially (every two years) rather than every year.

A biennial report allows the state’s Secretary of State office (or comparable government office) […]

2021-07-26T09:17:51-07:00July 26th, 2021|Categories: Ongoing Management and Protection|

Noncommercial vs. Commercial Registered Agent

If you’ve been considering forming a business (or already have started one), you’ve probably have heard the term registered agent. Alternate names include statutory agent, agent for service of process, or resident agent.

A registered agent is a designated party located within the state that a business has authorized to accept “service of process” (notice […]

2021-07-06T09:20:47-07:00July 6th, 2021|Categories: Ongoing Management and Protection|
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