The Launch Blog: Expert Advice from the CorpNet Team

What Every Small Business Should Know About 1099s

Every year when tax time rolls around, I field questions from business owners about whether or not they need to send 1099s to their vendors. As common as 1099 forms are, they remain one of the most misunderstood Internal Revenue Service (IRS) requirements. To make sure you understand the circumstances under which the IRS requires issuing 1099-MISC forms to vendors, I’m going to provide some basic “must-know” information here. What Is A Form 1099-MISC? You must issue an IRS Form 1099-MISC to each person you’ve paid $600 or more in services (including parts and [...]

January 31st, 2017|Categories: Ongoing Management and Protection|Tags: , |

Five Steps To Becoming An Empowered Woman (Or Man) Business Owner

As a woman business owner, I’ve found that empowerment comes to us in two ways: Access to external sources of inspiration and knowledge Self-respect and self-confidence You can sit around and wait for someone to empower you, or you can take the bull by the horns and take action to empower yourself. I will always vote for the latter of the two because it gives you more control over your entrepreneurial destiny. Although women own nearly 30 percent of U.S. small businesses (according to the Status of Women in the United States website), I [...]

January 26th, 2017|Categories: Women In Business|Tags: , |

Should You Buy A Business Or Start One From Scratch?

Hope your New Year is off to a great start! As you’re looking to make 2017 a year of prosperity, have you set your sights on becoming a business owner? If so, you’re probably wondering whether buying an existing business or starting your own company will offer the best chances of success. Both have their advantages and challenges, so how do you choose? I wish there were an easy answer, but I’m afraid you’ll need to do some research and put some serious thought into your decision. As you explore your options, consider the [...]

January 17th, 2017|Categories: Seed and Development|

Will Your Business Need Financing in the New Year?

As you plan and set goals for your small business in 2017, one area to look at is financing. Will you need additional funding at some point in the New Year? If the answer is yes, how will you raise the money? Take a closer look at the two primary means of raising capital — equity financing and debt financing — and what you need to know about each. Equity Financing In equity financing, you give up a piece of your business (equity) in return for an investment of capital. Equity investors may be [...]

December 1st, 2016|Categories: Ongoing Management and Protection, Startup and Launch|Tags: , |

How to Attract and Retain Skilled Workers Through Culture

If you want your startup business to succeed, it is vital to cater to millennials, now the largest generation in the American workforce, according to Pew Research Center. Professionals born between 1980 and 1996 crave engagement at their jobs, and if they aren't satisfied, they'll leave, 2016 Gallup research shows. Fortune Magazine reports that leaders of the top 100 best companies to work for in the United States cite culture as their most important tool to achieving success. By showing employees you value their work-life balance, giving them opportunities to learn and grow in [...]

November 15th, 2016|Categories: Growth and Expansion|

Setting Up a Corporation – Top FAQs

Happy November! We are excited to bring you another post in our monthly FAQ series! When starting a business, one of the first questions an entrepreneur must ask themselves is, "What entity type should I register?" Here at CorpNet, we are often asked to explain the differences between a C Corporation and an S Corporation, how to file a corporation, and even, "What is a corporation?" Top FAQs for Setting Up a Corporation What is a C Corporation? A C Corporation is a standard corporation. It is considered a separate entity from its owners. This [...]

November 3rd, 2016|Categories: Startup and Launch|Tags: , |

Fall Tips To Help Your Business Have A Strong End-Of-Year Finish

Although most of the year has already passed and we’re now into the autumn season, don’t panic if your business has fallen a little bit behind on its goals. It’s not too late make changes that can help lead to a strong finish in 2016. Whether you’ve just started your business or have been running yours for years, the key is to take action sooner rather than later—and to focus on efforts that will improve your bottom line now and into 2017. Nurture Customer Relationships If you’ve fallen out of touch with some customers, [...]

October 25th, 2016|Categories: Ongoing Management and Protection|Tags: , |

The Series LLC – All You Need to Know!

What Is The Series LLC? The series LLC is also known as a series limited liability company or SLLC for short. It allows multiple LLC within a master LLC to operate as separate entities with their own names, bank accounts, and record keeping. Each series can conduct business independently in this way because the series LLCs’ articles of formation explicitly allow them to have unrestricted segregation of membership interests, assets, liabilities, and operations. Different members and managers might run each series, and their rights and responsibilities might vary from series to series. Each individual [...]

September 27th, 2016|Categories: Startup and Launch|Tags: |

Running Your Business: Do You Know What You Don’t Know?

With school back in session, students of all ages are learning new things—and discovering how much they don’t know in the process. Whether you’re an aspiring entrepreneur or long-time business owner, one thing is certain: like the kids who are back to school, you always have room to learn and grow. As I’ve learned and grown as a business owner, one of my favorite phrases has become, “You don’t know what you don’t know.” How true, right? It’s far too easy to fool ourselves into thinking we really know all there is to know. [...]

September 15th, 2016|Categories: Ongoing Management and Protection|Tags: , , , |

Back To Basics: The Difference Between Copyright and Trademark

As the kids are back to school and studying new things, it’s also a wonderful time to revisit some basic elements of business. Whether you’re starting a business or are already running your company, knowing the difference between a copyright and a trademark is one of the fundamental “must knows” every entrepreneur should understand. So, what is the difference between a copyright and a trademark? Let the learning begin! Copyright A Copyright protects works you’ve created, such as research, photos, blog posts, books, articles, music, art, website content, computer code, and other forms of [...]

5 Avoidable Mistakes Real Estate Investors Make With Their LLCs

With any investment property, liabilities come with the territory—faulty electrical wiring, broken stairway railings, black mold, and other possible flaws are all inherent threats. It’s no wonder savvy real estate investors decide to form LLCs (Limited Liability Companies) to protect themselves. The LLC legal business structure shields investors’ personal assets from liability associated with their investment properties. So with an LLC, your personal assets won’t be vulnerable if a tenant or visitor to your property sues you. While forming an LLC can be done rather quickly and without any great degree of complexity, I’ve seen [...]

July 12th, 2016|Categories: Ongoing Management and Protection|Tags: |

Can A Corporation Be A Member Of An LLC?

Starting and running a business as an LLC (Limited Liability Company) offers some advantages to business owners who want liability protection, taxation flexibility, and credibility without complexity. Next to a sole proprietorship, it’s the business legal structure that’s least complicated and void of cumbersome formality. But if you’ve already incorporated a business, can that entity be a member of your LLC? And what could that accomplish for you? Yes! Your Corporation Can Be A Member of Your LLC All states allow for other types of business entities (not only individuals) to serve as members [...]

June 23rd, 2016|Categories: Startup and Launch|Tags: |

21 Things Our Dads Teach Us That Make Us Better Entrepreneurs

Every year around Father’s Day, I reflect on the profound impact my own father had on my self-confidence and work ethic. His encouragement and the fine example he set forth have contributed to my ability to succeed in business. And every day, I see Phil—my husband and co-founder of CorpNet—encourage self-assurance within our four children, laying the foundation for their future successes. I imagine many of you have had similar life experiences. Fathers, regardless of whether or not they’re entrepreneurs themselves, influence and shape who we are as business owners. Their values, fearlessness, empathy, [...]

June 14th, 2016|Categories: Seed and Development|Tags: |

Business Name Registration Or Trademark: Which Is Best?

One of the most valuable assets your business will ever have is its name. Your business name is more than what your company is called—it represents your brand’s identity and it’s a way for you to distinguish yourself from your competition. With your business name carrying that much weight, it makes sense to protect it. As you start your business, consider these two approaches to prevent other companies from using your name and confusing your customers: Business Name Registration If you form an LLC or apply to incorporate a business in a state, your [...]

May 26th, 2016|Categories: Ongoing Management and Protection|Tags: |

Your Franchise Business Structure Questions Answered

Thinking of starting a franchise? A lot of new franchisees expect that absolutely everything will be taken care of by the franchisor. While yes, a lot of processes, supplier relationships, et cetera, will be handed down to you by your franchisor, there are some decisions you’ll have to make, such as what business structure your franchise will use. Now that you know you’ve got a big decision, you likely have questions. Here, I’ll answer some of the more common questions from franchisees about business structures. Which Business Structure is Right for Me? While there’s [...]

May 10th, 2016|Categories: Startup and Launch|
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