CorpNet.com Founder and CEO, Nellie Akalp, was asked to appear on Fred Arnold’s Out of the Rough show to chat about starting a business and the common mistakes small business owners make when incorporating a business or forming an LLC!
In the interview, Nellie talks about how CorpNet.com helps startups file the appropriate business entity, as well as aid existing businesses in staying compliant with state business agencies.
She talks about what the business filing industry was like in 2007 when she founded MyCorporation.com (which was bought by Intuit and is now owned by a private company). Imagine having to send a check to Earthlink to purchase a domain name! Times sure have changed.
Common Mistakes and Questions for Business Owners
When asked what the biggest mistake she sees in working with small businesses, Nellie replied that it was companies choosing the wrong type of business entity. CorpNet.com can assist in advising business owners of the most appropriate business entity.
Nellie also addressed the big question: where should I incorporate? Nellie dispels the myth that there are huge benefits in incorporating in states like Delaware and Nevada. If your headquarters are located elsewhere, you’ll still be subject to the state where you filed and its regulations. You may have to pay additional filing fees, and you’ll still be responsible for paying taxes in your home state. She says the best solution is to file a business in your home state where you conduct your business.
Tune in and listen to the valuable advice Nellie shares as she discusses important topics like incorporating a business and forming an LLC for your venture with the host Fred Arnold and his co-host Tera McHugh, Founder of Association of Women Entrepreneurs!