The Launch Blog: Expert Advice from the CorpNet Team
Articles of Incorporation vs. Articles of Organization
If you're thinking about starting a business, you’ll want to research which business entity type will be most advantageous to you. As you go through that process, you will discover that various documents and filings need to be submitted to the state to form a...
How to Legally Start a Food Truck Business
According to IBISWorld, the food truck industry has 25,476 businesses in 2020. Growth in the industry from 2015 to 2020 averaged 8.7%. With the COVID-19 crisis a reality now, arguably, the food truck industry may be better suited than brick-and-mortar restaurants...
The What, Why, and How of Incorporating Out-of-State
A lot of entrepreneurs wonder what state should be used to incorporate a new business. Should it be their own state or maybe another state like Delaware or Nevada? There is no easy answer to that question, however, there are definite benefits for some businesses to...
A Mid-Year Business Checklist to Get You Back on Track
Tax season is over (for most of us). So, what’s next for business owners and professional advisors with business clients? With so much disruption and distraction this year, you may have fallen behind keeping up with compliance for business licenses, permits, and...
How to Start a Restaurant Business
Are you thinking about how to start a restaurant business? Without a doubt, it's an industry that contributes immensely to our economy. According to statistics from the National Restaurant Association, there are over one million restaurant locations in the United...
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. What is a Limited Liability Company? A Limited Liability Company (LLC) is a formal business structure that is...
Sole Proprietorship vs. Partnership
You have much to think about and many questions to answer when starting a business. One of the most fundamental considerations is what type of business structure is right for you. Often, new small businesses choose to operate as a sole proprietorship or general...
3 Must-Have LLC Documents
If you’re considering filing as a Limited Liability Company (LLC), it’s probably in part because this business structure provides business owners with liability protection and pass-through tax status, while minimizing the business formalities and paperwork you’re...
When Personal Liability Protection Doesn’t Work for Corporations and LLCs
Did you structure your business as a C Corporation or LLC for limited liability protections? For most scenarios the extra filing requirements, paperwork, and fees are worth it—your personal liability protection helps make sure your assets are protected from the...
Can an H-1B Visa Holder Start an LLC?
People interpret the American dream differently. For many foreigners, it likely represents an opportunity for prosperity and success. Coming to the United States and starting a business is often the start of that prosperity. The United States government allows...
How to Start a Daycare Business
Daycare businesses provide a critical service to working families. Parents and guardians need reliable, responsible childcare services to ensure that their children are well taken care of while adults in the household work hard to earn a living. Before starting a...
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...
LLP vs. LLC
When you’re starting a small business that has more than one owner, you and your partner(s) may have concerns about your personal liability risks. If this is the case, it would be wise to compare LLP vs. LLC business structures. Limited liability partnerships (LLP)...
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...
How to Start an Amazon Business
If you've been intrigued by the flexibility and income potential of selling online, starting an Amazon business is probably at the top of your to-do list. There's no denying Amazon's reach and reputation, which is why so many Americans have a strong pull toward...
How to Start a Business in West Virginia
A lot of entrepreneurs have decided to start a business in West Virginia and there is good reason. It is centrally located and within an eight-hour drive from major metropolitan areas and it offers some of the country's lowest labor and utility costs. Known as the...
How to Find Small Business Grants
Small business owners often ask if they can obtain a grant for their business. The great news is you can. Small business grants range from a few hundred to thousands of dollars. Each grant has its own guidelines, requirements, and purposes. Getting a grant doesn’t...
What Is the Difference Between Sales Tax and Sellers Use Tax?
Whether you sell products or services in one state or many states, it’s imperative to understand your business’s sales tax compliance requirements. To correctly register a business in a state and then file the proper sales tax, you need to know the difference...
What Comes After Incorporation? 12 Steps to Keep You On Track
Congratulations! You have officially registered your Limited Liability Company or Corporation with the state. But now what? What happens next? While forming an LLC or Corporation is a critical first step to operating a formal business entity, there's more work to...
What are Articles of Organization?
Have you decided to operate your business as a Limited Liability Company (LLC)? If you answered yes, you must comply with your state's requirements for registering your company. Those responsibilities include filing an Articles of Organization (sometimes called a...
The State of Small Business Revenue
As a small company, CorpNet understand the challenges small businesses face, especially in an uncertain economy. However, entrepreneurs are resilient and remain the country’s economic backbone. Small businesses account for 99.9% of all businesses in the United...
Seven Steps to Creating a Business Emergency Preparedness Checklist
It's an understatement to say the last few years have been tumultuous. Nearly every business has felt the pandemic's economic effects, and many have faced natural disasters such as hurricanes, tornadoes, draughts, and wildfires. With CorpNet's location in southern...
What Is an Assumed Business Name?
A company might request to use an assumed business name instead of its legal name for conducting business. This is more commonly known as a DBA (Doing Business As). In this article, I’ll explain why business owners might want to use an assumed business name, how to...
What Is Form 1065?
Partnerships (and LLCs taxed as Partnerships) must get acquainted with this IRS Form 1065 for U.S. Return of Partnership Income. Form 1065 is an information return that Partnerships use to report their income, gains, losses, deductions, and credits. While...
Happy Mother’s Day
As a mother of four, I am very well aware of the challenges and pressures of raising kids today, especially while also running a business. I’ve learned a lot over the years—my first two kids were twins—so I had no choice but to learn quickly. In honor of Mother’s...
How to Change an LLC’s Ownership Percentage
One of the reasons why entrepreneurs find the Limited Liability Company business structure attractive is that it gives them flexibility in dividing ownership among the LLC’s members. How you determine LLC ownership percentages can be based not only on members’...
A New Approach to Setting Business Goals
Success means different things to different people. Regardless of how you define it, success depends on your goals and what you want from your business in the months and years ahead. Often, entrepreneurs think of their business goals as achieving specific metrics...
Can You Transfer LLC Ownership?
In the world of entrepreneurship, change comes in many forms and it is inevitable. People who were once robustly passionate about their business endeavors may find new opportunities or face life situations that lead them to focus on other priorities. What can you...
The CPA’s Guide to Assisting Clients with Business Compliance Issues
As a CPA, you probably sometimes find that clients inquire about more than just their business’s taxes and finances. With the strong connection between their money and all aspects of their companies, they may toss you questions about a variety of business...
Your Complete Guide to Starting a Business in New Mexico
With the 5th lowest labor costs in the country, according to the newest WalletHub study, the “Land of Enchantment” state boasts a thriving small business community. According to the Small Business Administration (SBA), 99% of all businesses in New Mexico are small...
