IRS

//Tag: IRS

Flexible Staffing Options: Get Help Without Hiring Full-time Employees

At some point, growing businesses need more hands on-deck. But that doesn’t necessarily mean you have to invest the money to hire full-time employees—yet. Before you hire full-time employees, there are other staffing options you can explore.

Bring on Extra Help With Our Six Flexible Staffing Options

1. Family and Friends

Starting a business requires long hours and time away from family and friends. You can avoid the separation issue (and create new bonds) by hiring family and friends to help run your business. Family businesses account for 64 percent of the U.S. gross domestic […]

2019-12-12T12:57:28-08:00September 20th, 2017|Categories: Growth and Expansion|Tags: , , |

Breaking Down Business Entity Types

One of the most important steps you’ll need to make when starting your business is reviewing business entity types and deciding which one you should choose for your company. The structure you pick will affect your business from legal and tax obligation standpoints. That’s why it pays to understand the various business entity types—and the potential advantages and downsides of each.

I recommend talking with a business attorney and accounting professional for guidance. In the meantime, I’m going to share some information about the most commonly used business structures to give you a […]

2019-12-12T13:01:16-08:00September 13th, 2017|Categories: Startup and Launch|Tags: |

The Fail Proof Process for Incorporating in California

Have you considered incorporating in California but you’re just not sure where to begin? As a California business owner, I’m excited to help guide other entrepreneurs get their companies up and running in this fine state.

In this post, I’m going to walk you through the process of forming a corporation in California. But first, let’s take a look at the various kinds of corporations the state recognizes.

Types of Corporations in California

  • General For-Profit Corporation (General Stock Corporation) – A General For-Profit Corporation is a legal entity, separate from the shareholders who own […]
2019-12-12T13:04:14-08:00September 6th, 2017|Categories: Startup and Launch|Tags: , |

What Is a Registered Agent?

Many business owners will ask themselves what is a registered agent and then question if they really need one. The answer to both questions is yes!

A registered agent is a person or company with the authority to accept service of process (legal documents and government notices) on behalf of a business. When selecting a registered agent, the business must designate one who has a physical location within the state where the business is registered to operate.

A registered agent is a person or company with the authority to accept service of process (legal […]

2019-09-03T05:41:47-07:00August 30th, 2017|Categories: Ongoing Management and Protection|Tags: |

Back to School and Back to Business: Legal Checklist for Entrepreneurs

This time of year is a rite of passage for any student and parent, but it also signals that we’ve entered the home stretch of the year. We want to make sure that small businesses end the year with success! That’s why we put together a back-to-school legal checklist for entrepreneurs. Instead of hitting the books this fall, small business owners should take the time to make sure their legal and administrative obligations are in order.

The Legal Checklist for Entrepreneurs

1. Incorporate or Change your Business Structure

Many small businesses start out as a […]

2019-09-03T05:41:48-07:00August 23rd, 2017|Categories: Ongoing Management and Protection|Tags: , |

Is A Real Estate LLC Really Necessary?

A Real Estate LLC (Limited Liability Company) business structure has become a preferred entity of real estate investors for holding title to investment properties. That’s not too surprising considering the advantages of forming an LLC:

  • It limits personal liability.
  • It provides tax treatment flexibility.
  • It’s relatively simple to establish and maintain.
  • It’s less costly to set up and maintain.
  • It offers more flexibility in how you distribute profits.
  • It makes it easier to pass real estate investments to your loved ones.
  • An individual or a company beyond the United States can own […]
2019-12-12T12:47:04-08:00August 16th, 2017|Categories: Startup and Launch|Tags: , |

Firing a Client: Why, When and How

When you’re starting a business, it’s hard to imagine a time when you would actually turn away business or find yourself in a situation where firing a client is required. In the beginning, of course, beggars can’t be choosers, and even if the client isn’t a big spender, every penny counts. Plus, at the beginning, you’re more concerned about getting experience and building your reputation, in your industry and community. But eventually, as you get more established, there will likely be a situation when you have to decide whether a particular client […]

2019-09-03T05:41:49-07:00August 8th, 2017|Categories: Ongoing Management and Protection|Tags: , |

6 Ways to Improve the Security of Your Small Business

When starting a business, entrepreneurs have a lot to think about. Often, the owner is responsible for sales, marketing, accounting, merchandising—the list goes on. While all that is important, don’t forget that you’re also head of security. And unfortunately, this is often a full-time job in itself. However, you can take steps to make your security role easier if you know what threats you face.

What Are the Threats?

If your business has a brick-and-mortar location—and especially if it’s a retail operation—you’re probably very familiar with the need for physical business security. Burglary […]

2019-12-12T12:48:34-08:00August 2nd, 2017|Categories: Ongoing Management and Protection|Tags: , |

Filing an Amendment: 7 FAQs to Keep You in Compliance

This month, we answer all your thought-provoking questions about filing an amendment. July marks the middle of the year and a great time to make changes within your company!

When do I need to file an amendment?

Articles of Amendment are required if any of the information included in your incorporation or foreign qualification paperwork changes. For example:

  • Changes to the company name
  • Changes to the Registered Agent Information
  • Company Business Address
  • Director or Member Information
  • Number of Authorized Shares
  • Business Activities of the Company

Do I need to notify the state if […]

2019-12-12T12:42:38-08:00July 17th, 2017|Categories: Ongoing Management and Protection|Tags: , |

Employer Identification Number: What is an EIN and How do I Get One?

At CorpNet, we field a lot of questions centered on what aspiring entrepreneurs need to do from an IRS-standpoint to start a business. Almost daily, I see inquiries arrive about obtaining an EIN (Employer Identification Number). I’m glad people ask about that because it is indeed an important item to check off a startup’s to-do list.

What Is An Employer Identification Number?

You may see EINs also referred to as “Federal ID number,” “Tax ID Number,” or Federal Tax ID Number.” It is a nine-digit number used for tax filing and reporting and […]

2019-09-03T05:41:51-07:00July 12th, 2017|Categories: Startup and Launch|Tags: , , |