If you are considering electing S Corporation status you might wonder how this will impact your existing LLC or C Corporation. One question that comes to mind quickly is the continued ability to use LLC or Inc with a business name. S Corporation election is a tax...
Nearly 7 in 10 Americans now have a side hustle. Whether you’re freelancing, selling products online, offering consulting services, or driving for a rideshare company, that extra income stream represents more than just pocket money. For many people, it...
Every year, millions of Americans start businesses. And every year, most of them make the same mistake: they operate as Sole Proprietors by default, never realizing what they’re risking or missing out on. The decision between operating as a Sole...
A reseller license certifies a company doesn’t have to pay sales tax when buying products on a wholesale basis for the purpose of reselling them to customers. In this scenario, the final sale customer pays sales tax when they purchase those products from the...
The owner of a Limited Liability Company (LLC) or Corporation might consider being their own registered agent since it eliminates the cost of contracting another party to accept service of process and other official notifications on the business’s behalf. However,...
Every small business is expected to remain in compliance with all applicable laws, regulations, and standards. Not doing so can be highly detrimental to your business, resulting in penalties and costly fines, damaged reputation, disrupted business performance,...
If you’ve decided to establish your business as a corporation, you’ll need to fulfill your state’s requirements for registering your company. Among those requirements is filing an Articles of Incorporation (sometimes called Certificate of Incorporation) with the...
As we move into the fall and winter months it’s time to begin thinking of year-end compliance responsibilities and business activities. We’d like to help you prepare for the year-end and we want to help you get all your legal ducks in a row. To assist...
Many entrepreneurs start their small businesses in their homes. The process can be feel overwhelming, but it doesn’t have to be. The following checklist provides a list of considerations for starting a home-based business. While not every business will need...
Although most of the year has already passed and we’re now into the autumn season, don’t panic if your business has fallen a little bit behind on its goals. It’s not too late to make changes that can help lead to a strong finish in 2025. Whether you’ve just started...
Do you know if your DBA needs to be renewed? If so, do you know the date it will expire if you don’t take action? Whether you need to renew your DBA depends on where you live. Rules pertaining to DBAs vary from state to state and among some local governments, so...
If you’re thinking of closing your LLC before the year ends, you may be feeling overwhelmed. And you are probably wondering what you must do to exit the business without leaving any loose ends behind. Indeed, there is more to shutting down a business than merely...
Have you been thinking of launching a new business or changing your existing Sole Proprietorship to a formal business entity type like a Limited Liability Company, S Corporation, or C Corporation? Are you concerned that you might not be selecting the best time of...
If your business is set up and registered as a Corporation, you’re required by law to hold an annual shareholder meeting and to document the meeting with minutes. Annual shareholder meetings, sometimes referred to as annual general meetings, are intended to give...
Building a loyal client base that sticks with you for the long term can be challenging if your accounting firm cannot keep pace with your business clients’ evolving needs. Those needs sometimes transcend what a firm’s traditional services can satisfy, so it’s...
Many Washington businesses will be affected by new retail sales taxes on previously untaxed services, including sales of custom software, some advertising services, temporary staffing services, and live presentations. Officials say the changes will generate more...
When entrepreneurs want to expand their businesses, they face the important decision of how to structure that growth. One approach is to form a separate company under another registered business entity. Some restrictions exist and small business owners may be...
An S Corporation is a Corporation (including Professional Corporations) or Limited Liability Company (LLC) that elects to have special tax treatment under Sub-Chapter S of the Internal Revenue Code. S Corporations are taxed on a pass-through basis, with income,...
A Certified Public Accountant (CPA) who meets the legal requirements in their state can serve as a Registered Agent. In fact, a CPA’s expertise in finance and compliance can make them well suited for the role of Registered Agent, while also enabling them to provide...
Entrepreneurs cannot succeed in business completely on their own. Successful business owners will leverage their talent, expertise, and skills, while also being quick to delegate tasks and responsibilities to others with the knowledge and proficiencies they lack....
Accounting firms that offer client advisory services (CAS) transform their practices from number-crunching tax return preparation and bookkeeping centers to hubs for high-value professional guidance. Many different types of CAS exist, so accountants and tax...
Operating a business without the required licenses and permits can result in serious legal and financial consequences, ranging in scope from fines to the business being shut down, or even criminal charges for owners. Most business owners understand that they need...
CorpNet is proud to announce that it has made Inc.’s prestigious Inc. 5000 list in 2025 as one of the fastest-growing private companies in the country. This is the eight year CorpNet has been honored. CorpNet’s Inc. 5000 profile can be found here. “It...
The primary difference between a C Corporation and a B Corporation is that a C Corporation primarily operates to generate profits for its shareholders, and a B Corporation, with the “B” being short for “Benefit,” strives to be socially responsible and to benefit...
The “One Big Beautiful Bill Act” (OBBBA, or more formally known as Public Law 119-21) implements some tax code changes that could have a significant impact on businesses and their owners. Signed into law on July 4, 2025, the OBBBA contains a combination of new tax...
What business owners should know about annual meeting minutes for corporations. What are they, who must have them, and how do you create them?
A C Corporation is a legal structure for a company that is authorized by the state to conduct business. Its owners, who are referred to as shareholders, are taxed separately from the business, and in most cases cannot be held personally responsible for business...
Payroll for restaurants is complex, and the ability to manage it well is an essential ingredient for success and long-term sustainability. It entails calculating work hours, wages, salaries, benefits, and wage garnishments; withholding and paying employment-related...
Payroll refers to the various tasks and responsibilities businesses must perform to pay their employees accurately and on time. It encompasses calculating wages and salaries; preparing checks or paying employees via direct deposit; withholding taxes and other...
Most entrepreneurs realize the importance of choosing a great name for their business, but many are less aware of how important it is to protect that name. Your business name is important, as it identifies your brand. It helps you build a business reputation and...
