Every business that sells products and services beyond its home state or has a location in another state should understand the meaning of nexus. As a business owner, it is important that you know what nexus is, why it is important, and if you have nexus in other...
Small businesses hire nearly half of all private sector employees in the United States, with about 61.6 million people working for more than 33 million businesses across the country, according to the U.S. Small Business Administration (SBA). If you’re a small...
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...
Just like life, running a business has its share of ups, downs, and surprises, which is why there are many different reasons why business owners may want to dissolve their LLC or Corporation. Dissolution, the act of formally dissolving (closing) a business entity...
Paying taxes is a necessary task for small business owners, but there are ways to minimize the amount you must turn over to the government. While you’ve certainly heard of tax deductions, and hopefully are taking advantage of some, there are some lesser-known...
While hiring out-of-state employees can provide many benefits for your business, doing so presents some challenges you should consider before moving forward. Compliance laws vary, but every state has regulations pertaining to hiring, payroll, taxes, benefits, and...
When you’re faced with the daily challenges of operating a business, details concerning compliance issues can easily be overlooked. You should be aware, however, that allowing that to happen can result in serious consequences. Once you’ve registered your...
Payroll involves far more than just cutting a paycheck to employees. It entails calculating work hours, wages, salaries, benefits, wage garnishments, and withholding and paying employment-related taxes. So, what do business owners need to know about setting up...
As you work with business clients who sell their products and services over state lines, “nexus” is a little term with big implications. Recently, Milton Turcios, CorpNet’s VP of operations, hosted a Facebook Live event featuring Elisa Reyes, principal and CPA at...
If you’ve been considering forming a business (or you’ve already started one), you’ve probably heard the term “registered agent” but may not be familiar with what it means. A registered agent is a designated party that a business has authorized to accept service of...
With many people struggling to keep up with inflation and insufficient wage growth, side hustles are becoming increasingly common. In fact, MarketWatch, a website that provides business news, financial information, and stock market data, reported in May 2024 that...
The idea of a Certificate of Authority can be confusing, as the term has several different applications. The most common type of Certificate of Authority is a document that authorizes you to legally conduct business in a state other than where your company is...
If you’re planning to close your business—either close it altogether or close it in one state and move it to another—there’s a process you must follow. The exact requirements and process can vary depending on your entity type, state, location in the state, the...
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...
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...
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...
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