The Launch Blog: Expert Advice from the CorpNet Team
LLC’s: Best Biz Structure to House Multiple Properties
With any property, there are inherent liabilities — from a broken balcony railing to old electrical wiring or mold. The LLC forms a wall that shields individual owners from personal liability. If sued by a tenant or guest, the defendant is the LLC, not you. And the judgment can be collected only from the LLC's assets, and not from your own personal assets.
10 Ways to Take Care of Your Kids and Your Business This Summer
School’s out! Chances are your kids are celebrating right now because weeks of summer vacation beckon. But, if you’re starting a business or running a business, and you have school-aged children, you’re likely feeling a little conflicted. Entrepreneurs like me, and...
Virtual Companies and Nexus: What Small Businesses Need to Know
Over the last two years, many businesses have chosen to go virtual, either temporarily or on a permanent basis. But that decision can impact the business’s nexus status. Companies with remote employees in other states may also need to register for foreign...
What Every Small Business Should Know About 1099s
Every year when tax time rolls around, many business owners wonder whether they must send 1099s to their vendors. As commonly known as 1099 forms are, they remain one of the most misunderstood Internal Revenue Service (IRS) requirements. Recently, more confusion...
Does Being an LLC or Corporation Help Build Business Credit?
Establishing healthy business credit is essential to ensure a company can thrive and grow. If an entrepreneur doesn’t take measures to establish credit in their business name, they may miss out on opportunities and even pay more than they have to for goods and...
LLC vs. PLLC: Which Structure is Right for Your Business?
Choosing the appropriate business structure for your company is complicated. For attorneys, physicians, accountants, architects, and some other licensed professionals, there are extra factors to consider. Professionals who want liability protection and flexibility...
What is the Role of an Incorporator?
Starting a new C Corporation can be complicated and entails several legal, administrative, and administrative steps. Whether you’re starting the business on your own, with a partner, as part of a team, or converting your current business structure to a corporation,...
Michigan Annual Report Filing for LLCs and Corporations
The state of Michigan requires all business owners of limited liability companies (LLC) and corporations to file an annual report. An annual report is a filing that helps ensure the state's records about a business entity are accurate. Michigan has specific due...
Does a Real Estate Agent Need an LLC?
Real estate agents, just like other self-employed professionals and independent contractors, should consider how to safeguard their personal assets from business-related liabilities. As a real estate agent, you may wonder if you need an LLC to get that level of...
Understanding the Various Types of Nonprofits
What Is a Nonprofit? A nonprofit organization is created to fulfill a charitable, civic, religious, scientific, literary, or educational goal. Nonprofits do not have private owners, nor do they issue stock or pay dividends to shareholders. Aside from founders or...
What Is Reasonable Compensation for an S Corporation?
If you're considering taking an S Corporation election, it's important that you review what obligations are involved in keeping an S Corporation viable. An important part of this review includes an evaluation of the reasonable compensation requirement. What is an S...
Basic Tips for Building Business Credit
A business entity can have its own business credit record and score. Lenders, suppliers, vendors, and even potential customers might check a company’s credit score (which is publicly available) before providing funding or doing business with the company. Business...
Trademarks vs. Copyrights vs. Patents
From your company logo to your trade secrets, your business’s intellectual property has value. That’s why it’s important to take measures to protect it. What are the various types of intellectual property and how can business owners’ safeguard them?  Here’s a...
How to Protect Your Brand with Trademarks
If you’ve incorporated your business or formed a limited liability company, you’ve taken critical first steps toward building a successful business. When registering your business, you’ve protected your company name from being used by competitors in the state the...
What is the Role of an LLC Organizer?
Starting a new Limited Liability Company (LLC) can be complex, entailing several legal, administrative, and organizational steps. Whether you’re starting the business on your own, with a partner, as part of a team, or converting your current business structure to...
