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Author Archive for Nellie Akalp

5 Signs it’s Time to Move from Your Home Office

cramped space.JPGWhen you first decided to start a business, you needed nothing more than your empty garage or guest room, and so you started a home-based business. And that worked for you for years. But if you’ve been feeling cramped lately, it might be time to graduate into something more accommodating.

Sign 1: Your Living Room is Now Your Inventory Room

If your stock has slowly been creeping into other rooms in your home, this might be a sign that you need more space. If you don’t have anywhere in your home to keep products without them disrupting your everyday home life, consider getting storage space or an office elsewhere.

Sign 2: You Need to Meet with Clients

Few of us are comfortable inviting clients into our homes for a business meeting. If you’re tired of meeting at Starbucks, consider renting office space. Another option is co-working space, where you rent an office or meeting room when you need it. This can cut down on your costs if you don’t have to pay for full-time use. Continue reading “5 Signs it’s Time to Move from Your Home Office” »

Five Last Minute Tax Tips for 2014

Businessman holding a sand timerThis is a post written by Dawson & Associates.

Are you one of the millions of Americans who haven’t filed (or even started) your taxes yet? With the April 15 tax filing deadline less than a week away, here’s some last minute tax advice for you.

1. Stop Procrastinating. Resist the temptation to put off your taxes until the very last minute. You need time to prepare your return, and may need certain documents that might take more time to pull together.

2. Include All Income. If you had a side job in addition to a regular job, you might have received a Form 1099-MISC. Make sure you include that income when you file your tax return because you may owe additional taxes on it. If you forget to include it you may be liable for penalties and interest on the unreported income.

3. File on Time or Request an Extension. This year’s tax deadline is April 15. If the clock runs out, you can get an automatic six-month extension, bringing the filing date to October 15, 2014. You should keep in mind however, that filing the extension itself does not give you more time to pay any taxes due. You will still owe interest on any amount not paid by the April deadline, plus a late-payment penalty if you have not paid at least 90 percent of your total tax by that date. Continue reading “Five Last Minute Tax Tips for 2014” »

8 Top Secret Tax Tips the IRS Doesn’t Want You to Know About

finger on lips.JPGWhen it comes to filing your small business taxes, it can seem overly complex. After all, what qualifies as a deduction? Are you filing as the proper status?

Don’t let tax season overwhelm you. Believe it or not, the IRS isn’t out to get you, but they do want you to play by the rules. These tips will help you alleviate the stress you feel this time of year and help you maximize your refund.

1. You Can File an Extension

Now, I’m not encouraging you to procrastinate each year, but you can ask for an extension if it’s taking longer than anticipated. And now you can file for that extension online rather than fill out a pile of paperwork. An extension will give you until October 15 to file and pay your taxes.

2. Sometimes It’s Better to Ask for Help

If you’re one of the millions of business owners struggling with your own taxes, consider whether it’s the best use of your time. You may think it costs more, but in reality, working with a tax professional or accountant may only run you a few hundred dollars. And when you factor in the savings they can help you recoup, it’s well worth it. Continue reading “8 Top Secret Tax Tips the IRS Doesn’t Want You to Know About” »

7 Ways to Sneak Exercise Into the Self-Employed Lifestyle

Woman stretchingWhen you’re self-employed, it’s easy to think that your schedule is totally  your own, and that you can pick and choose exactly how you want to spend your time. However, entrepreneurs work hard to please clients and build the perfect business — which means that personal time is often sacrificed for last minute projects, client meetings and tight deadlines.

The stress and long hours of the entrepreneurial lifestyle often come at the expense of physical and mental well-being. For most of us, trips to the gym take a back seat to the business.

If you’ve struggled to find a way to fit regular exercise into your unpredictable, self-employed schedule, here are a few tips for the new year.

1. Wake Up Earlier

Squeezing in an extra hour in the morning is one of the most effective ways to fit a workout into your day. Maybe you’re not a morning person, and the idea of waking up in the dark to swim laps or head to the gym sounds like pure insanity. If this is the case, ease yourself into a new schedule by setting your alarm half an hour earlier each week until you’re getting up a 6 a.m.

The best part about working out in the morning is that it sets the tone for the rest of the day, and there’s no chance a last-minute client request will get in the way. Continue reading “7 Ways to Sneak Exercise Into the Self-Employed Lifestyle” »

Where’s the Best Place to Launch Your Startup?

Many startups can literally be run anywhere in the world. With the cloud, both sales and support functions are virtual — a top-notch software company no longer needs a large local sales force to sell its product via tons of in-person meetings. This opens up the possibility of launching your startup anywhere from Bozeman, Mont., to Tampa, Fla.

To find the best entrepreneurial hotspot these days, you might look at the top locations for venture capital investments or where the cost of living is lowest. But where’s the best place foryou to launch your startup?

You aren’t necessarily going to depend on a list. You’ll probably factor in where you’re already living, where your current support network is and other personal matters. Maybe you prioritize cost of living, specifically the affordability of owning a home.

If you’re thinking about launching a new startup and aren’t sure where you want to land, here are a few factors to consider:

1. Your Personal Support Network

Lists of the top startup hotspots aren’t going to take into account your personal situation: where your friends and family are, what your interests are, etc. Building a business involves hard, often stress-inducing work. You may want an established support system of friends and family nearby.

Likewise, if there’s a particular climate or activity you’re drawn to (like skiing, museums or kayaking), make that a factor in choosing a location. Your goal is to build a happy, well-rounded life that includes being an entrepreneur — don’t sacrifice personal happiness to focus solely on a startup. Continue reading “Where’s the Best Place to Launch Your Startup?” »

3 Simple Yet Powerful Management Strategies for Women Business Owners

This is a sponsored post from Hiscox.

In addition to being Frozen Food Month and Supply Management Month, March is Women’s History Month.  Celebrated across the U.S. and in the United Kingdom, Australia and Canada*, the month-long celebration of women’s contributions to history is a proud tradition that’s been happening every March since 1987, with origins dating back to 1911’s first-ever International Women’s Day.  It seems like one hundred-plus years is a long time ago, but it’s just three generations – the oldest of whose members were born into a world where women didn’t have the right to vote and had only recently gained the ability to legally own property.

But that’s not today.  And while all people must remain vigilant in protecting the rights of people everywhere, women in most developed economies are secure in their ability to own and run businesses.  In fact, in the U.S. 40% of all privately-held firms are women owned.  If you can include yourself in this hefty percentage of business owners you deserve to be proud, small business ownership is a multi-faceted challenge that requires almost daily renewal of purpose.

The next time you find yourself renewing your specific purpose, take a moment to reflect on the following ideas for making running a business a little bit easier.  Implementing one, two or all three will help you save time and improve performance and maybe even help delay that next need for renewal. Continue reading “3 Simple Yet Powerful Management Strategies for Women Business Owners” »

How to Get Your Maximum Tax Refund: Nellie Akalp on FOX Business

Looking for the maximum tax refund back this year? Nellie Akalp provides tips on FOX Business.

foxtax

She says it’s worth it to pay an accountant to help you, as he’ll know the deductions that apply as well as the best filing status for your business. This can maximize your refund by $1,000 or more. She also says it’s important to know your expenses and which can be deducted on your taxes, like a home office or business office expenses. She stresses the importance of knowing your filing status, whether you’re filing as a business or an individual. Most people don’t think twice about what status to use, and sometimes overpay in taxes. Nellie also says to take advantage of your IRA contribution limit, which you can contribute for 2013 until April 15. She also says that many people overlook charitable contributions being tax deductible.

Nellie Akalp Discusses Common Tax Mistakes on Fox Business Feature

nellie fox

CorpNet’s CEO, Nellie Akalp, recently visited the set of FOX Business in New York to discuss some of the most common tax mistakes made by entrepreneurs and small businesses.

 “Filing business taxes can be a real learning curve for new business owners. Too often, some common mistakes are committed, and at best these lead to money left on the table; and at worst, costly penalties or other legal repercussions,” Nellie said.

In the segment, she discussed the need to pay quarterly estimated taxes; keeping track of your expenses; not being scared away from taking the home office deduction if you’re legally entitled to one; and sending 1099 forms to any contractors, attorneys, or individuals who performed work totaling more than $600 for the year. Nellie also advised that the most important tax move was selecting the right business structure, as the choice between a sole proprietorship, LLC, or corporation can have a major impact on the amount of taxes paid.

She also let new business owners they could get off on the right foot by contacting CorpNet.com for a free business consultation.

Through CorpNet, Nellie and her husband Philip Akalp have empowered thousands of entrepreneurs to start their own business. As an online legal document filing service, CorpNet helps small business owners form an LLC or incorporate a business in order to start and protect their new business ventures the right way.

You can watch the FOX video here.

CorpNet.com Launches Comprehensive Business License Service

biz licenseWe at CorpNet are excited to announce that we have rolled out our latest service designed to help busy entrepreneurs keep up with legal compliance matters. Our new online Business License service makes it easy for small businesses to comply with every required local license, permit, and tax registration.

Virtually every business has to comply with a variety of business licenses, permits and registrations. However, the specifics vary by location and business activity and it’s easy for small business owners to overlook or not be aware of certain requirements. If caught without the proper permits and licenses, your business can face hefty fines and penalties, and can even be shut down or sued.

CorpNet’s Business Licenses and Permits services take the guesswork out of the licensing process, so small business owners can be confident they are 100% compliant with license requirements on the federal, state, county, and local level. With the service, a CorpNet business expert will perform thorough and customized research on every license or permit a small business needs, and even prepare the necessary forms and submit them to the proper licensing authorities. Continue reading “CorpNet.com Launches Comprehensive Business License Service” »

Hear the CorpNet Story on Crowdfunding Intelligence Radio

If you haven’t heard the story of how Nellie and Phil Akalp started CorpNet, take a listen to Nellie’s interview on Crowdfunding Intelligence Radio. In addition to telling how she got started running a business, Nellie also talks to Mike Hayes about the importance of having passion for what you do, as well as the role crowdfunding plays in starting new businesses. It’s an emotional interview.