Sole Proprietorships are the most popular business structure in the U.S., accounting for 76.2% of all businesses, according to the U.S. Census Bureau. Many entrepreneurs love Sole Proprietorships because they’re simple to start and compliance requirements are...
As a CPA, you probably find that clients sometimes inquire about more than just their business’s taxes and finances. With a strong connection between their money and all other aspects of their companies, they may toss you questions about a variety of business...
Most states require Limited Liability Companies (LLCs) and Corporations to submit some form of ongoing business entity filing. While many states require these filings annually (i.e., annual reports), several require them biennially (every two years). A biennial...
About 4.1 million Americans will turn 65 in 2024, signaling the start of what’s being called the “Peak 65” zone. By 2030, all baby boomers (people born between 1946 and 1964) will have turned 65, a common age for retiring. While many people view retirement as a...
Whether you’re an accountant, tax advisor, coach, or consultant, your clients inevitably turn to you for insight into improving their business’s bottom line. One question they might ask is, “What is the best business structure?” You need to be ultra-careful in...
A Doing Business As (DBA) name—sometimes called a fictitious business name, assumed name, or trade name—is necessary when conducting business under a name other than a company’s legal name. DBA laws help protect consumers by ensuring the public has a way of knowing...
Whether you’re a business accountant serving entrepreneurs or you’re a business owner, it’s critical to understand sales and employment tax registration and ongoing requirements. Federal payroll taxes are the same no matter where a business is located, but state...
As a seasoned accounting professional, you have earned your clients’ trust and respect. Because your business clients know they can count on you to handle their accounting and tax matters, they may wonder about other ways you can assist them. For instance, someone...
If you have a Limited Liability Company (LLC) or other business that’s registered with the state, you must have a registered agent designated to receive legal correspondence and other documents on its behalf. If your LLC operates in more than one state, you’ll need...
For various reasons, people sometimes want to form a business while keeping their identities private. That can be accomplished by registering an anonymous LLC, sometimes called a private or confidential LLC. States that allow these types of LLCs do not publicly...
The CorpNet Partner Program allows CPAs, accountants, bookkeepers, and other financial and tax professionals to create an additional revenue stream for their businesses while building trust and loyalty with their clients. By enabling you to resell CorpNet business...
Although the primary difference between a single-member LLC (SLLC) and a multi-member LLC may be obvious (the first has one owner and the second has two or more), these variations of the Limited Liability Company business structure have other nuances to consider....
If you’re getting ready to launch a company or are already up and running as a Sole Proprietorship, you might be thinking about formally incorporating the business. Forming a Corporation might sound daunting, and it does require some actionable steps to get it...
Incorporating a business provides many benefits for companies of all types and sizes. The process requires filing paperwork and paying a fee to have the state recognize the business as an official entity. Before deciding on a specific type of Corporation, you...
In 2024, personal finance company WalletHub ranked Georgia as the second-best state in the country for business formation. Reasons include one of the highest rates of entrepreneurship, a prevalence of interconnected businesses, exceptional growth potential, and a...
Whew! You made it through the crazy-busy tax season, and I hope you and your fellow accounting professionals are enjoying some much-deserved time to relax. With the lion’s share of your firm’s revenue secured in the first four months of the year, you may now be...
Of the more than 30 million small businesses in the United States, 35% are Limited Liability Companies (LLCs), according to the Small Business Administration. LLCs are a popular business entity for a number of reasons. They’re relatively easy to get up and running...
At any time, a percentage of the labor force is unemployed for various reasons. According to the United States Department of Labor, 6.4 million (3.8%) people across the U.S. were unemployed in March 2024. State unemployment insurance is a critical support program...
A statutory agent, more commonly known as a registered agent, agent for service of process, or a resident agent. It is an individual or entity appointed by a Limited Liability Company, S Corporation, C Corporation, or other legal business entity to accept legal...
Searching for the first clients for your startup accounting business might seem like finding a needle in a haystack (or, for you Harry Potter fans, like finding a Horcrux in the Room of Requirement). In reality, however, it can actually be pretty simple, thanks to...
If you’re starting a new businessm adding new locations, or adding business lines, you are likely wondering if registering a DBA or forming an LLC is the best route to travel. A DBA is an assumed (fictitious) name that an existing business has received approval to...
Starting and running a farming business provides the opportunity and the freedom to forge your own professional path. There’s hard work involved and any seasoned farmer will tell you farming is a 24/7 commitment. And an agricultural business comes with many of the...
Uber drivers, even those doing rideshare driving as a side gig, are considered to be earning income through self-employment. Just like other self-employed independent contractors, they face some critical startup decisions—including what business entity type to...
Whether you operate a Sole Proprietorship, Partnership, Limited Liability Company (LLC), Limited Liability Partnership (LLP), or Corporation, how you manage your finances is a vital aspect of running your business. While using your personal bank account for...
A domestic and foreign LLC refers to the state where the LLC is created. Registering your business as a foreign LLC (also known as a foreign qualification) is required under certain circumstances when you operate your business outside of the state in which you’ve...
Is it better to form a Limited Liability Company (LLC) or a C Corporation? Many entrepreneurs ask that question as they work through the many facets of transforming their dream of business ownership into a reality. The business structures have similarities and...
In Kentucky, Limited Liability Companies, C Corporations, Limited Partnerships, and Business Trusts must file an annual report with the Kentucky Secretary of State office. Businesses operating as Sole Proprietors or General Partnerships do not have to file....
If you have incorporated in Florida or formed an LLC in Florida, your deadline for filing your Annual Report is May 1. Here are 7 facts that you need to know to ensure that your corporation or LLC remains compliant in the state of Florida.
You Must File an Annual Report Whether Your Business Has Changes or Not
While the purpose of the Annual Report is to ensure that the Florida Department of State, Division of Corporations has your company’s most updated information, you still have to file the document, even if you have no changes since last year.
Before you form an LLC in Texas or incorporate a business in Texas, it’s important that you know what your responsibilities will be in reporting on your business in future years. If you’ve already formed an LLC or corporation, you need to be aware of an important deadline on May 15.
That’s the date your Annual Report — also called Franchise Tax Report — is due. Here’s what you need to know to ensure that you stay compliant with the state of Texas.
If you own a Limited Liability Company, C Corporation, or other registered business entity in Georgia and you want to open a business bank account, expand your business into another state, seek funds from investors, or conduct certain other business activities,...
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