Ongoing Management and Protection

//Ongoing Management and Protection

Crisis Management

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.

9 Tax Benefits in the CARES Act

There are more advantages to the CARES Act than just relief funding that can help your small business save money and those come in the form of tax breaks. Although most of the breaks are temporary, it’s important to take advantage of all that’s being offered to business owners now, so your company has the best chance of coming out of the pandemic healthy and if not profitable, at least in recovery mode.

Here are nine tax breaks and benefits you and your employees can take advantage of today.

Tax Benefits For Your Business

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2020-06-15T10:44:38-07:00April 27th, 2020|Categories: Crisis Management, Ongoing Management and Protection|

Texas Annual Reports and Franchise Tax Information

Does your business have to file a Texas annual report and pay franchise tax? Report filing requirements in Texas vary according to the type of business entity, so the answer to that question is, “It depends.”

In this article, I’ll list the different annual reports that businesses may need to submit to the Texas Comptroller’s office by the May 15 deadline of each year. I’ll also cover the basics of the Texas franchise tax, which must also be reported and filed by May 15.

Please note that due to the coronavirus pandemic, Texas has […]

2020-04-27T13:36:59-07:00April 27th, 2020|Categories: Ongoing Management and Protection|

3 Ways a Business Owner Can Respond to COVID-19

Small business owners know the key to survival in any economy is flexibility and adaptability. To handle difficult situations, such as the restrictions imposed during the current coronavirus pandemic, entrepreneurs must be creative and think outside the box to come up with solutions for business survival.

Here are three ways small businesses can successfully navigate to a positive outcome.

1. Scale to Meet Unusual Demand

In order to scale your company during the pandemic, your type of business would likely have to be deemed essential and be in high demand to provide services or products […]

2020-06-15T10:44:37-07:00April 23rd, 2020|Categories: Crisis Management, Ongoing Management and Protection|

How Loan Forgiveness Works for the PPP and the EIDL Loan Programs

Now that we are in full swing of the coronavirus pandemic, small businesses across the country are trying to make sense of the CARES Act and how the relief funding can help keep their businesses afloat. One area of confusion seems to be how a business receiving funds from the Paycheck Protection Program (PPP) and/or the Economic Injury Disaster Program Loan (EIDL) will have their loans forgiven. To date, details and information appear to change daily.

According to the Small Business Administration (SBA), there will be additional guidance on […]

2020-06-15T10:44:39-07:00April 20th, 2020|Categories: Crisis Management, Ongoing Management and Protection|

COVID-19 Relief Funding Alternatives

As of April 16, 2020, the SBA announced all appropriations for the Paycheck Protection Program and the Economic Injury Disaster Loan were exhausted. Small business owners are now in need of COVID-19 relief funding alternatives.

Below is a list of some COVID-19 funding options that are still available.

SBA Express Bridge Loans (EBL)

Eligibility: Small businesses that currently have a business relationship with an SBA Express Lender.

Loan Amount: Up to $25,000.

Purpose: Support for small businesses experiencing a temporary loss of revenue due to the coronavirus pandemic. The SBA Express Bridge Loans […]

2020-06-15T10:44:37-07:00April 20th, 2020|Categories: Crisis Management, Ongoing Management and Protection|

Paycheck Protection Program for the Self-Employed and Sole Proprietors

By now we have all at least heard about the Economic Injury Disaster Loan and the Paycheck Protection Program enough to know what the acronyms EIDL and the PPP stand for.  Even the infamous Pandemic Unemployment Program aka the PUA has become part of our daily vocabulary. But what are these programs and how do they work? More importantly, how do they work for us, for our clients, and are they enough to get us through this crisis?

Like me, you have no doubt been hunkered down at your desk watching recorded webinars, […]

2020-04-22T12:27:37-07:00April 17th, 2020|Categories: Ongoing Management and Protection|

Business Entity Types 101: Is It Time for a Change?

A lot is riding on the business entity type you choose. The business structure you decide on affects your legal liability as an owner, tax obligations, growth potential, and the compliance requirements you’ll need to satisfy on an ongoing basis. To make matters more complex, the entity type that’s right at the beginning of a business’s existence may not continue to be the ideal choice as the company grows and evolves.

So, what’s an entrepreneur to do? First and foremost, I encourage business owners to consult with a licensed attorney and accountant or […]

2020-04-16T12:23:21-07:00April 16th, 2020|Categories: Ongoing Management and Protection|

What Government Loan Program Should You Apply For?

Can’t decide whether you should apply for the Paycheck Protection Program (PPP) loan from the SBA or the Economic Injury Disaster Loan (EIDL) from the U.S. Treasury? Truth be told, many of your fellow small business owners have already turned in their applications for one or both and some are starting to receive their funding. If you’re still trying to sort out the differences or seeing if some of the confusion gets resolved, maybe we can help. Here’s what we know.

Paycheck Protection Program (PPP)

PPP Loan Logo

2020-06-15T10:44:39-07:00April 16th, 2020|Categories: Crisis Management, Ongoing Management and Protection|

Adapting Your Business to Remote Activities and Shifting Business Hours

Who would have imagined we would be in the situation we’re facing today? The coronavirus pandemic has turned our world upside down and created an entirely new definition of “business as usual.” Many entrepreneurs, including me, have had to shift their business hours and adapt their companies to working remotely.

For business owners not accustomed to handling customers and staff virtually, this pivot to remote work may be especially challenging. Let’s explore some ways you can help ensure working remotely will work for your business.

5 Tips for Running Your Business in Chaotic Times

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2020-06-15T10:44:39-07:00April 16th, 2020|Categories: Crisis Management, Ongoing Management and Protection|

Paycheck Protection Program Loan Checklist

The SBA’s Paycheck Protection Program is an amazing opportunity for small businesses. It provides a 100% forgivable loan to cover payroll, rent, and utilities. The United States government has moved swiftly to get this program funded and operational. And in some cases, a little too quick for the average business owner to keep up with.

Small business is the core of CorpNet and our service offering. We’d like to make sure we do everything we can to help business owners obtain PPP loan funds. To do this, we need to make sure you […]

2020-04-22T12:31:54-07:00April 16th, 2020|Categories: Ongoing Management and Protection|
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