Entrepreneurs face many critical decisions as they launch their businesses. Among the most important is selecting the best business structure for their company. Because of the legal, financial, administrative, and operational implications of the entity chosen,...
The Limited Liability Company (LLC) business structure is one of the most flexible and simple business entity types that entrepreneurs may choose. LLCs aren't usually required by states to have an LLC partnership agreement; however, it's something to...
Is a recession on the way? While some economic experts believe a recession is on the way, others, such as the National Retail Federation (NRF), think that although the economy is slowing, consumers are financially healthy and a recession is unlikely in 2022. And...
Uncertainty is not unfamiliar territory for business owners. However, these past few years have brought a significant amount of ups and downs to entrepreneurs everywhere and in nearly all industries. While some companies focused on their short-term goals, other...
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...
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...
Happy November! We are excited to bring you another post in our monthly FAQ series! When starting a business, one of the first questions an entrepreneur must ask themselves is, "What entity type should I register?" Here at CorpNet, we are often asked to explain the...
The SBA’s Paycheck Protection Program is an amazing opportunity for small businesses. It provides a 100% forgivable loan to cover payroll, rent, and utilities. The United States government has moved swiftly to get this program funded and operational. And in some...
Business entities in the state of Delaware have various reports and filings they must submit to the Delaware Division of Corporations each year. Delaware Limited Liability Companies don’t have to file an annual report, but they do have to file to pay an Annual Tax...
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...
Every person on the CorpNet team has contributed to our continued success. Our recently created series of videos features several of our team members to give you a glimpse of “who’s who” and their take on what they do and why they do it. In this post, we’re...
Every individual at CorpNet brings unique skills and qualities that make them an integral part of our team. This could not be truer of our Director of Operations, Milton Turcios! We’ve recently featured Milton in a video in our series that highlights various...
CorpNet’s high-caliber team members, who bring their diverse strengths and talents to work with them every day, fuel our company’s success. No one exemplifies hard work and dedication more than our Senior Account Manager, Amanda Beren. We’ve recently featured...
We are immensely grateful for our team members’ talents and contributions. They have fueled our growth and remain the key to our continued success in helping aspiring and existing business owners make their entrepreneurial dreams come true. What do our employees...
An EIN (Employer Identification Number), also known as Federal Tax ID Number, is a 9-digit number issued by the IRS that the United States federal government uses to identify a business for tax purposes. Every business with employees or registered in the U.S. as a...
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...
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...
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...
Depending on a business’s entity type and the state it’s registered in, its owners may be required to hold annual meetings and record minutes from those meetings. But how do you know if that requirement applies to your company? In this article, I'm going to explain...
According to Global Workplace Analytics, 25-30% of the workforce will be working from home multiple days a week by the end of 2021. Already a trend before the pandemic, remote working became the “new normal” for businesses of all sizes struggling to stay afloat...
Tax considerations are a significant factor in how entrepreneurs structure their businesses. The qualified business income deduction (or QBI tax deduction) is an important tax deduction that allows eligible businesses to deduct up to 20% of their qualified business...
I love the holidays. Celebrating with family and friends is very important to me and my husband, Phil. And we strongly believe in sharing that holiday spirit with our employees and contractors. Unfortunately, last year, like many of you, we couldn’t celebrate in...
How many small business owners think about retirement when starting their businesses? Not many, which is understandable since all efforts are generally focused on growing the business, not leaving the company. However, at some point, all entrepreneurs want to know...
Deciding to close a business that you’ve put your blood, sweat, and tears into can be an emotional experience. That’s especially true of entrepreneurs who have operated as sole proprietorships or partnerships. Essentially, they become “one” with their companies,...
Along with other annual business compliance responsibilities, corporations (and sometimes LLCs) must hold various meetings and record minutes from those meetings. With the new year ahead, new entrepreneurs and existing business owners need to make sure they...
CorpNet could never have achieved what we have without our exceptional team members! We’ve recently created several videos to give you a glimpse behind the scenes of our company and allow you to get to know some of the people responsible for guiding our business...
If you’re a property owner, you probably know how a like-kind exchange works, but in case the term is new to you, here’s what you need to know. According to the Internal Revenue Service (IRS), a like-kind exchange (also called a 1031 exchange) is: When you exchange...
There’s a lot of misinformation out there about keeping business and personal finances separate. Truthfully, most entrepreneurs tap into their personal savings to start their businesses, so opening separate bank accounts isn’t their top priority when there are so...
Not all, but some states require business entities to file an annual report and pay a franchise tax each year. While the name suggests that a franchise tax report might only apply to businesses that are franchises, that’s not the case! A franchise tax is a fee that...
CorpNet is proud to announce that it has made Inc. Magazine’s prestigious “Inc. 5000” list for 2021. As an Inc. 5000 honoree, we have been recognized as one of the fastest-growing private companies in America. During a stretch when the economy experienced limited...
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