Benefits of an S-Corporation

Incorporating is one of our favorite services, not only for the tax savings it provides those who are self-employed, but also for the asset protection it offers those with passive real estate investments or one-off productions in the entertainment industry. Before we dive into the benefits of an S-Corporation, let’s first understand each type of business entity: S-Corporation: Entity used to assist self-employed individuals transition from small to medium sized business structure. Only entity that allows the self-employed to reduce social security and Medicare tax (SE tax). An S-Corporation can also be an LLC electing to be taxed [...]

By | 2018-01-09T06:13:59+00:00 January 18th, 2018|Categories: Startup and Launch|Tags: , , , , , , |0 Comments

Finding the Best Marketing Channels to Acquire Website Traffic

Congratulations! You’ve secured your new business name, formed your company, and launched your new website. Now what? Naturally, your first instinct is to drive traffic to your website in hopes of converting them into paying customers. After all, that’s how we scale. Right? You sign up for one, or all of these – Google AdWords, Facebook, LinkedIn (great platforms to advertise on) – but realize the ad costs to drive traffic from these advertising platforms is more than you have budgeted for. This is a typical scenario we run into with startups. Between the excitement of launching a [...]

By | 2018-01-16T11:09:56+00:00 January 17th, 2018|Categories: Growth and Expansion|Tags: |0 Comments

Making Mastermind Groups Work for Your Business

Making mastermind groups work for your business takes a little bit of courage, an open mind, and strong commitment. The benefits to you and your business, however, can be great. Napoleon Hill is credited with the idea of the mastermind group, which he defined as “The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony.” More colloquially, mastermind groups are typically thought of as business owners that come together to share best practices, solve problems and help each other to work on their businesses and grow [...]

By | 2018-01-09T06:13:43+00:00 January 16th, 2018|Categories: Growth and Expansion|0 Comments

Can I Change My Registered Agent?

If your business is a Limited Liability Company (LLC) or corporation, you must appoint a registered agent to accept service of process for your company. Assigning an authorized registered agent is necessary for keeping your business legally compliant and maintaining good standing in the state(s) in which you operate. Your registered agent is the entity—an individual or business in the state(s) in which your company conducts business—that will receive legal documents on your behalf. Examples of the types of mail that goes to your registered agent include: Tax notices Federal and state correspondence Notice of lawsuits Summonses to [...]

By | 2018-01-09T06:13:17+00:00 January 11th, 2018|Categories: Other|Tags: , |0 Comments

Top 9 Changes From the 2018 Tax Code Updates

As the 2017 year comes to an end, we enter into a new year with a new tax code for both individuals and corporations. In fact, the recently signed the tax reform bill represents the most significant tax changes for the United States in more than 30 years. Many clients have reached out to us with questions and concerns as to how this new code would impact them at both the personal and business level. To make these changes easier to understand, we’d like to highlight the main points and changes we can expect in 2018. The most [...]

By | 2018-01-08T07:57:31+00:00 January 8th, 2018|Categories: Ongoing Management and Protection|Tags: |0 Comments

Do I Need a Startup Advisor?

A startup advisor can be invaluable to help you navigate through startup pitfalls, structure your company, find funding or scale up your business for profitable growth. I recommend a startup advisor -- provided you can devote the time to make the most out of your advisor’s expertise, talents, and connections.   If you just go through the motions without leveraging what your startup advisor has to offer, then it will be a waste of time. But if you are committed to accepting advice and mentoring, and you pick the right startup advisor, you can accelerate your business’s success. [...]

By | 2017-10-09T14:58:48+00:00 January 5th, 2018|Categories: Growth and Expansion|Tags: |0 Comments

Developing a Business Plan That Anyone Can Execute

Developing a business plan, securing financing, and putting together a winning team—all are key components of getting your new business on the right path from the start. But without a business plan, you may not stand a chance of recruiting your dream team or landing the financing you need. The Ins and Outs of Developing a Business Plan We’ve all read the stories of million-dollar businesses that started with a few ideas jotted on a scrap of paper or a bar napkin. But in reality, how many of those businesses grew to million-dollar sales without developing a business [...]

By | 2018-01-09T14:11:16+00:00 January 3rd, 2018|Categories: Seed and Development|Tags: |0 Comments

6 Business-Boosting Benefits of Incorporating Your Company

One of the most critical decisions you will make as a business owner is choosing the business entity type for your company. Sole proprietor or partnership? Limited Liability Company (LLC), or corporation? Decisions, decisions! For many of the entrepreneurs that I work with, incorporating offers a variety of advantages legally and financially over operating as a sole proprietorship, partnership, or LLC (Limited Liability Company). You should talk with your attorney and accountant or tax advisor before you select a business structure because it’s important that you fully understand the pros, cons, and your compliance responsibilities. To get you [...]

By | 2018-01-02T04:52:49+00:00 January 2nd, 2018|Categories: Startup and Launch|Tags: , |0 Comments

The CPA’s Guide to Assisting Clients with Business Compliance Issues

As a CPA, you probably sometimes find that clients inquire about more than just their business’s taxes and finances. With the strong connection between their money and all aspects of their companies, they may toss you questions about a variety of business compliance issues that aren’t in your normal area of focus. You need to exercise caution in responding because your insight shouldn’t take the place of proper legal counsel or human resources guidance. But having a working knowledge of diverse compliance topics can help you aid your client’s understanding of certain issues and steer them to the [...]

How to Start a Trucking Business

If you’ve always wanted to start a trucking business, now could be the perfect time to put your plan into action. In the third quarter of 2017, e-commerce accounted for 9.1% of overall retail sales—almost double the figure from 2010. Online retailing’s popularity is just one reason the amount of goods hauled by truck is projected to grow by more than 3% annually for the next five years, according to the American Trucking Associations (ATA). Demand for trucking will be so great that the ATA predicts the industry will need to recruit almost 100,000 new drivers per year. [...]

By | 2017-12-18T10:36:23+00:00 December 27th, 2017|Categories: Startup and Launch|Tags: , |0 Comments

Five Tips for Hiring Freelancers

As your business grows, so too does your payroll. Hiring can be one of the biggest struggles for growing business. The amount of time, money, and other resources needed to find, vet, hire, and train new employees are overwhelming. And, when these new employees don’t work out, you find yourself in an even bigger hole than before. Therefore, many successful businesses are turning to short-term contractors, or freelancers, to alleviate some of the bandwidth struggles they are experiencing. Using a freelancer can make sense if you want to mitigate the risks of new hires. Freelancers are cost-effective, specialized, [...]

By | 2017-12-18T13:14:20+00:00 December 21st, 2017|Categories: Growth and Expansion|Tags: |0 Comments

Your Reviews Help Us Become the Best Online Formation Service for LLCs and Corporations

As the year closes out, there is a lot for us to be thankful for. At the top of our gratitude list is the wonderful group of customers we get to serve each and every day. Our goal has always been focused on providing high-quality customer service and for us to be the best online formation service for LLCs and corporations. Your reviews help us know what is working and how we can make our incorporation services even better. As five-star reviews are added to our TrustPilot profile, we are reminded of our pursuit of excellence, our great [...]

By | 2017-12-20T10:39:15+00:00 December 20th, 2017|Categories: CorpNet Reviews & Customer Stories|0 Comments

Year-End Closing Checklist: Get Your Business Ready for 2018

With time of the essence, I won’t delay getting right to the point of this blog post: Now is the time to get your company’s ducks in a row so your business will have a happy New Year. And by happy, I mean being prepared so you won’t suffer from the headaches and frustrations of falling behind on mission-critical responsibilities. So, without further ado, here’s a helpful year-end closing checklist to guide you in closing your 2017 on a joyous note. Your Year-End Closing Checklist to Make the New Year Merry and Bright 1. File to Change Your [...]

By | 2017-12-18T13:13:50+00:00 December 19th, 2017|Categories: Other|Tags: , , |0 Comments

Small Business Tax Tips to Grab at Year End

Before you let the hustle and bustle of the holiday season take over your business (and your life), now’s a good time to review your financial situation and explore some money-saving small business tax tips. Below is a list of my top ten tax tips entrepreneurs can still benefit from at year-end. My Top Ten Small Business Tax Tips 1. Deduct Startup Expenses Did you start your business this year? You may be able to claim some of your startup expenses on your tax return in the year you actually opened the business. To qualify as a startup expense [...]

By | 2017-12-20T04:00:52+00:00 December 18th, 2017|Categories: Ongoing Management and Protection|Tags: , |0 Comments

Finance Your Business With These Low Stress Options

Today’s business owners have more options for business financing than ever before.  But some methods to finance your business may cause you to toss and turn at night more than others. Of course, stress can be subjective. One person’s definition of stress may be different from another’s.  But this list can help you sort through the different ways to finance your business that are less likely to cause you stress -- or at least allow you to choose what YOU consider to be low stress. Here are some lower-stress financing options for your small business: Low-Stress Ways to [...]

By | 2017-11-13T05:05:34+00:00 December 15th, 2017|Categories: Startup and Launch|0 Comments

What is the Best Time of Year to Form an LLC?

Have you been thinking of launching a new business or changing your existing sole proprietorship to a formal business entity type? Are you concerned that you might not be selecting the best time of year to form an LLC? So When Really is the Best Time of Year to Form an LLC? There's never a bad time to register your business as a legal entity—doing so helps protect your personal assets and might offer some tax advantages, as well. But filing your paperwork to make it effective before the New Year has its perks! So if you are [...]

By | 2017-12-20T04:01:00+00:00 December 13th, 2017|Categories: Startup and Launch|Tags: , , , |0 Comments

The Importance of Customer Reviews and Why You Should Encourage Them

Opening up your business to online scrutiny feels like under-dressing for harsh winter weather -  you’re not always prepared for the bitterness, and it can sting. Your business is both your passion and livelihood, something you’ve worked hard to create. The thought of a customer having anything but a positive experience with your brand seems bad enough. It’s even more daunting when the customer can easily post a scathing review where others prospective clients are sure to see it. But if you position yourself to not only manage but also leverage customer reviews, it will build trust for [...]

By | 2017-12-07T09:44:47+00:00 December 12th, 2017|Categories: Growth and Expansion|Tags: |0 Comments

How to Properly Handle Your Company’s Annual Meeting Minutes

If you have incorporated a business as an S Corporation or a C Corporation, most states require that you keep careful records of the company’s activities on a yearly basis. Every time your board of directors meets, your company needs to keep a record on file for regulatory compliance purposes. There is a long list of possible transaction and resolutions that you might need to keep on record. This can include anything ranging from: The appointment of a new officer. The resignation of a director. Purchasing insurance. Selling stock Obtaining a line of credit/credit card in the company’s [...]

By | 2017-12-11T12:54:16+00:00 December 11th, 2017|Categories: Ongoing Management and Protection|0 Comments

Eight Office Essentials You Need to Have in 2018

The New Year is fast approaching, and many aspiring entrepreneurs are eager to turn their dreams into reality next year. With all the excitement that comes with starting your own business, it’s easy to overlook the basics. Most new entrepreneurs focus on the big picture, such as raising capital, business planning, and marketing. They have little head space left to think about small details like office supplies. If you’re in the same situation, we’ve got you covered. In this article, we put together a list of eight office essentials that you need to have in 2018. 1. Ergonomic [...]

By | 2017-11-29T09:20:16+00:00 December 8th, 2017|Categories: Ongoing Management and Protection|0 Comments

Keeping Small Businesses in Compliance is a Team Effort

Staying in compliance can be challenging for many small business owners. They often rely on - or even assume - their CPA or accountant manages the paperwork associated with the registration and maintenance of LLCs, S-Corps, and C-Corps. This assumption can lead business owners down a slippery slope of non-compliance. CorpNet would like to prevent such issues. Earlier this year the CorpNet team released a partner program specific to accountants and CPAs. This program provides a win/win opportunity that gives financial professionals an easy way to help clients maintain compliance, while also bringing in revenue. Helping Accountants Help [...]

By | 2017-12-07T05:04:28+00:00 December 7th, 2017|Categories: Partner Program|0 Comments