The Launch Blog: Expert Advice from the CorpNet Team

Sole Proprietorship vs. LLC

Are you considering starting a business as a solo owner, or will you co-own the business with your spouse? Then, you may be wondering if operating as a sole proprietorship or a limited liability company (LLC) will be the better choice. What are the advantages and disadvantages of a sole proprietorship vs. LLC business structure? In this article, I'll highlight the potential pros and cons of each to help you in your research efforts. Keep in mind that there are legal, financial, and tax-related implications when choosing a business structure. Therefore, I encourage you [...]

June 3rd, 2020|Categories: Startup and Launch|

Business Ideas for People Who Love the Outdoors

If you love the outdoors and have always wanted to start a business relating to your outdoor passion, now is a great time to take advantage of the country’s desire for outside activities. Here are some outdoor business ideas and trends you need to know to get you running on the right path to business success.

June 2nd, 2020|Categories: Startup and Launch|

Do You Need an LLC for a Hard Money Loan?

Do you need a register an LLC to obtain a hard money loan for your real estate investment? Let's explore the LLC and hard money loans so you can decide. Limited Liability Companies When it comes to investing in real estate, most investors choose to create a separate legal entity to purchase a property. The reason? To protect personal assets from liabilities associated with real estate transactions. Moreover, the Limited Liability Company (LLC) business structure has become a preferred entity of real estate investors for some very good reasons. The LLC business structure offers [...]

June 1st, 2020|Categories: Seed and Development|

Time for a Change? The What and How of Business Entity Conversion

The one constant is change. Forgive the cliché, but I think it’s an appropriate introduction as I address the topic of business entity conversions. Your clients' businesses evolve over time — and the business environment in which they operate changes as well, especially at a time like this when the COVID-19 pandemic is having such a far-reaching impact on businesses of all kinds. As a result, the business structure they chose as a startup may no longer be the most advantageous one for their current situation. What happens at that crossroads? It might be [...]

June 1st, 2020|Categories: Ongoing Management and Protection|

How to Start a Small Business on Etsy

Etsy has given artists, crafters, and collectors a highly visible online marketplace for selling their own-made arts and crafts, vintage items, and crafting supplies. Are you a talented, hands-on individual with a vision of offering your creations to customers across the United States or even beyond? Then you have probably wondered how to start a small business on Etsy. I can understand why! The number of active buyers on Etsy has increased steadily over the years, going from 9.3 million in 2012 to over 46.3 million in 2019. The number of sellers who have [...]

May 26th, 2020|Categories: Startup and Launch|

What is a Holding Company?

Many business owners operate multiple businesses and there’s a good reason for that: Once you have one business and business structure in place, it’s much easier to get a new business off the ground than if you had to start from scratch each time. At some point in your entrepreneurial life you may come upon an idea or opportunity too good to pass up. But you have no intention to stop operating your current business. So, the question becomes how should you structure the new business—should it be a part of the original business, [...]

May 26th, 2020|Categories: Growth and Expansion|

How to Move A Business To Another State

When you move from one house to another, you likely have a checklist of things you need to take care of in the process…changing your mailing address, calling your cable TV provider, contacting your internet company. But when moving your business to another state, many business owners don’t know where to begin. There are many reasons to consider moving your business to another state. For example: Your target market has changed—economically and/or demographically. The cost of real estate (including property taxes) has risen so much your business is at risk of going under. The [...]

May 26th, 2020|Categories: Ongoing Management and Protection|

How to Legally Start a Nonprofit Business

There is nothing more fulfilling than directing time and energy toward helping others in need. If you're passionate about a cause, you may have wondered how to start a nonprofit business. Some aspects of starting a nonprofit organization are similar to starting a for-profit business, but nuances exist. Incorporating a nonprofit can be confusing and complicated. Let’s dive into what it means to be a nonprofit organization and explore some of the considerations and steps involved in becoming one. Please keep in mind that the information that I'm about to provide in this article [...]

May 18th, 2020|Categories: Startup and Launch|

What Does It Mean to Have Multiple Trademark Owners?

One of the many risks business owners face is one that rarely comes to mind—but could put your business in a dangerous position. We’re talking about trademark protection for your intellectual property. A trademark is a word, phrase, name, or symbol that identifies the source of a product or service and distinguishes it from competitors. You can trademark your company name, product names, logos, and taglines. Running a Business Without Trademark Protection Without the protection of a federally registered trademark: Your company or product name could be stolen. Without trademark ownership, it’s easier for companies [...]

May 18th, 2020|Categories: Ongoing Management and Protection|

What to Know About Business Entities and How You Can Save on Taxes Next Year

Businesses of all sizes and industries have been put through the proverbial ringer in 2020. No one could have foreseen the toll the coronavirus would take on entrepreneurs from independent contractors to C corporations and everyone in between. One positive thing, however, is the tax deadline has been pushed to July 15, 2020. That means there’s still time to learn about the tax issues based on your business entity and take advantage of some tax savings on your 2021 return, no matter what your legal structure. Sole Proprietorship In a sole proprietorship, there is no legal [...]

May 13th, 2020|Categories: Ongoing Management and Protection|

Outsourcing to Get Back to Business

Making plans to get your business back on track post-coronavirus pandemic? Here are five responsibilities you should consider outsourcing so you can devote more of your time and energy to the areas where you are most needed. 1. Website Updates and Maintenance Your website is likely the most important marketing tool in your arsenal and yet it also probably gets neglected from time to time—especially in the aftermath of a crisis, such as a coronavirus. Unless you’re into coding and application updates, outsourcing IT tasks such as website fixes is a great place to start [...]

May 12th, 2020|Categories: Crisis Management, Growth and Expansion|

Help Your Clients Stay Compliant in a World of Information Overload

Your business clients are dealing with a barrage of information as the coronavirus pandemic evolves. The deluge of new requirements, rules, and recommendations related to COVID-19 has become overwhelming for many entrepreneurs. As a result, some of them may have temporarily lost sight of their ongoing business compliance filings. They need your help! Fortunately, many state governments have deemed professional services providers in the financial and legal industries as essential. Even if your business is under stay-at-home orders, you have ways to serve your clients remotely by embracing technology tools, like video conferencing. This [...]

May 11th, 2020|Categories: Ongoing Management and Protection|Tags: |

40 FAQs with All You Need to Know About Filing an LLC

Filing an LLC (Limited Liability Company) provides small businesses with some of the advantages of incorporating (starting a corporation) while preserving simplicity through minimal compliance formalities. I've assembled a comprehensive list of FAQs about the LLC so that you can learn more about the potential benefits, LLC filing requirements, and more. Keep in mind that you have much to consider when choosing a business structure. These LLC FAQs are not legal, accounting, or tax advice. For guidance on whether an LLC or another business entity type will be the best option, business owners should [...]

May 6th, 2020|Categories: Startup and Launch|Tags: , |

How to Start an Amazon Business

You may have thought about how to start an Amazon business if you've been intrigued by the flexibility and income potential of selling online. According to an Adeptmind survey in 2018, almost half (46.7%) of internet users in the United States started online product searches on Amazon's website, which is over 10 percent more than the 34.6 percent who went to Google first [1]. There's no denying Amazon's reach and reputation! Starting a business on Amazon, just like launching any commercial endeavor, comes with many considerations and to-dos. In this article, I’ll discuss many [...]

May 4th, 2020|Categories: Startup and Launch|

10 Mistakes to Avoid When It Comes to the CARES Act Funding Relief

With tons of misinformation swirling out there, you may be afraid of making a crucial mistake when it comes to applying for and receiving CARES Act relief funding. Here are 10 mistakes to avoid. Application Mistakes 1. Not Being Prepared Any delay in your application could mean your business gets bumped to the bottom of the list. Have on hand: Basic business and contact information Average monthly payroll costs including employee salaries, wages, and commissions; payment of cash tips; payment of vacation; parental, family, medical or sick leave, insurance premiums, etc. 2019 Tax Forms [...]

April 27th, 2020|Categories: Crisis Management, Ongoing Management and Protection|
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