The Launch Blog: Expert Advice from the CorpNet Team
If you’re considering incorporating your small business, read this first. This is not a decision to be taken lightly, so make sure you’re aware of what you need to know and do to run a corporation.
If you’re considering forming an LLC, you’ve probably got questions. Fortunately, we’ve got answers. We’ve helped thousands of people form an LLC, so you could say we’re kind of experts on the subject.
While the obvious lessons we learn about entrepreneurship come from our own professional experience, I find that sometimes they pop up in unexpected places. Like my children.
When it comes to filing your small business taxes, it can seem overly complex. After all, what qualifies as a deduction? Are you filing as the proper status?
Don’t let tax season overwhelm you. Believe it or not, the IRS isn’t out to get you, but they do want you to play by the rules. These tips will help you alleviate the stress you feel this time of year and help you maximize your refund.
It’s a classic scenario: you arrive at a networking event armed with business cards and ready to make connections. But once you get there, you can’t seem to pull yourself away from the wall and mingle with everyone who acts more confident than you feel.
People are drawn to the entrepreneurial lifestyle for a variety of reasons. Some dislike having a boss or dealing with office politics. Others are tired of the cubicle monotony or feel like they can do it better on their own. And most entrepreneurs are driven by a passion for what they do and a desire to carve out their own future.
Yet too often, that initial passion is dampened by the realities of running the show. Working for yourself or starting a business is difficult work. There’s no guidebook or map to show you the way. You might encounter a few bad customers, people who don’t pay their bills, competitors who undercut you, and business partners who don’t treat you fairly. With too much work, entrepreneurs can become tense, anxious, and unhappy.
Linda Dawson, owner and CPA at Dawson and Associates, works closely with CorpNet to help startup clients get up and running. She says CorpNet and her company have "a great marriage" in that they both work together to help small business owners start a business. In...
For people -- more specifically women -- who start a business, they’re adding more to their existing to-do lists. In addition to shuttling the kids to soccer, planning dinner, and managing the household you now have to register your business, choose a name, set up a site…the list goes on and on!
I have made a career for myself out of helping entrepreneurs in their journey to starting a business. The biggest decision you’ll make in legalizing your business is choosing what type of business entity works best for your brand. Here’s an overview of your options:
It may be hard to envision what your company will look like in five years, but smart businesses at least try to project where they want to be in the future. Having a five-year business plan can help you create a vision of where you want to take your business.
Start with the End in Mind
Have you ever considered what your exit strategy is for your business? Meaning: will you sell it down the road? Transfer ownership to a family member? Run it until you die? Even if you can't imagine ever stopping what you're doing, consider the question. Maybe you'd like to move on to a different type of business in a few years. Knowing how long you'd like to run your business and how you'd like to exit can help you in creating your five-year business plan.
Entrepreneurs are notorious overachievers. They’re accustomed to pushing forward without a playbook, yet the exhilaration of starting and managing your own business also comes with a heavy price - stress. That’s because small business owners tend to work long hours, with little separation between work and play.
If that sounds all too familiar, read on to learn several everyday tips to combat the stress of entrepreneurial life:
Another tax time has come and gone. If you’re self-employed operating as a sole proprietor, tax time can be yet another reminder that you haven’t addressed your business structure yet. Maybe you started your business as a side project, and a sole proprietorship made sense. But is it best for your needs now?
The end of tax time is a perfect time to reassess what’s next for your business and legal structure. Here are some things to consider.
Think you’re ready to start a business? This post will help you determine whether you’re ready to become a small business owner, or if you need to do a bit more developing before diving in. Just answer each question honestly to see where you stand.
For those of you who started a business before the age of social media, blogging, and websites, you can attest: it’s a lot easier to be an entrepreneur these days.
Back then, we spent more time on the phone cold calling, and direct mail was booming. Networking was done face-to-face, and we couldn’t always track our marketing efforts. My, how times have changed.
If you're looking to get into the cleaning business, there's plenty of opportunity to go around. In fact, the role of professional cleaning specialist is slated to be the fastest growing occupation for the next ten years. Whether you plan to buy an existing franchise cleaning service or go out on your on, there are a few things you need to take care of before you can start accepting clients.
So you've decided to start a business in construction. Congrats! Despite the ebbs and flows of the real estate industry, there will always be work for you.
While you may have the basics of your business, such as who to hire and what to call your company, here are ten things you may not have considered.
CorpNet celebrated its third birthday on July 1, 2011! We thought you might like to go behind the scenes to learn more about Phil Akalp, one of the founders of the company.
If you decide to incorporate as an S-Corporation, the company itself will not pay taxes. Instead, the taxes are handled by “pass through taxation,” where the earnings “pass through” to the company’s owners and employees. S-Corporations also ensure limitation of personal liability for the business owners, helping to separate your personal finances and protect your personal assets from those of your business.
CorpNet has a talented team of dedicated people who help our customers start a business, incorporate a company and manage business filings every day. One of our team members is Milton Turcios, who works in Document Fulfillment and Customer Service. Milton, like CorpNet CEO Nellie Akalp, is the child of immigrants, and he was the first child in his family to be born in the United States. In addition to his full-time job at CorpNet, Milton is currently attending Cal-State University Northridge (CSUN), majoring in Cinema and Television Arts with a focus in TV Production.
One of the things I love most about being a small business owner is the relationships I get to create over time with our small business employees. I love working with all of our CorpNet staff, but one of them has been with us longer than any of the others – she’s really more like a daughter to me than an employee, and she’s seen it all during her time at our company: so I’m pleased to put the “CorpNet staff spotlight” on Amanda Beren, our Senior Document Analyst.
The state of California recently passed new legislation making it possible for Limited Liability Companies (LLCs) to be licensed contractors in California. This is big news, as it makes it possible for more companies to do business in California as LLCs. However, there are a few requirements that your company needs to keep in mind to avoid delays and errors in getting your LLC approved for a California contractor license which is highlighted in this post.
Nevada and Delaware are popular states for good reason. Many larger corporations choose Delaware because it offers some of the most developed, flexible, and pro-business statutes in the country. And Nevada is increasingly becoming a popular choice for businesses due to its low filing fees, as well as the lack of state corporate income, franchise, and personal income taxes. However, most small businesses never see the benefits from incorporating in these states, and end up with a lot more headaches and costs than they ever anticipated. As a general rule of thumb, I like to say that if a small corporation or LLC has less than 5 shareholders or members, it is best to incorporate in the state where the business has a physical presence.