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Is A Real Estate LLC Really Necessary?

A Real Estate LLC (Limited Liability Company) business structure has become a preferred entity of real estate investors for holding title to investment properties. That’s not too surprising considering the advantages of forming an LLC: It limits personal liability. It provides tax treatment flexibility. It’s relatively simple to establish and maintain. It’s less costly to set up and maintain. It offers more flexibility in how you distribute profits. It makes it easier to pass real estate investments to your loved ones. An individual or a company beyond the United States can own it. Let’s dive deeper into each [...]

By | August 16th, 2017|Startup and Launch|0 Comments

Firing a Client: Why, When and How

When you’re starting a business, it’s hard to imagine a time when you would actually turn away business or find yourself in a situation where firing a client is required. In the beginning, of course, beggars can’t be choosers, and even if the client isn’t a big spender, every penny counts. Plus, at the beginning, you’re more concerned about getting experience and building your reputation, in your industry and community. But eventually, as you get more established, there will likely be a situation when you have to decide whether a particular client is worth the hassle or whether [...]

By | August 8th, 2017|Ongoing Management and Protection|0 Comments

6 Ways to Improve the Security of Your Small Business

When starting a business, entrepreneurs have a lot to think about. Often, the owner is responsible for sales, marketing, accounting, merchandising—the list goes on. While all that is important, don’t forget that you’re also head of security. And unfortunately, this is often a full-time job in itself. However, you can take steps to make your security role easier if you know what threats you face. What Are the Threats? If your business has a brick-and-mortar location—and especially if it’s a retail operation—you’re probably very familiar with the need for physical business security. Burglary is extremely common for businesses, [...]

By | August 2nd, 2017|Ongoing Management and Protection|0 Comments

Business Corporate Compliance: How To Stay In Good Standing

What Is Business Compliance? While definitely not the most glamorous aspect of running a business, complying with applicable rules and regulations is a must. Business compliance (known as “corporate compliance” for incorporated businesses) is critical for keeping your company in good standing with your state. The specifics of what you need to pay attention to depend on the legal structure of your company and where you’re registered to operate your business. The compliance requirements Limited Liability Companies (LLCs) and corporations have to meet can vary from state to state (and sometimes even from one municipality to another), so [...]

By | July 26th, 2017|Ongoing Management and Protection|0 Comments

10 Ways to Create a Successful Small Business Brand

One of the key steps to starting a business is creating a strong business brand. Do it right, and you’ll have a memorable brand that customers line up to do business with. How can you get your brand off on the right foot? Here are 10 steps to creating a business brand.  1. Understand brand basics  To craft your brand message, start by asking yourself (and answering) these questions: What does your company do? Can you distill that down to a few sentences or bullet points? Why does your company do what it does? The “why” is the [...]

By | July 19th, 2017|Growth and Expansion|0 Comments

Filing an Amendment – FAQs

July marks the middle of the year and a great time to make changes within your company! This month, we answer all your thought provoking questions about filing an amendment. Q: When do I need to file an amendment? A: Articles of Amendment are required if any of the information included in your incorporation or foreign qualification paperwork changes. For example: Changes to the company name Changes to the Registered Agent Information Company Business Address Director or Member Information Number of Authorized Shares Business Activities of the Company Q: Do I need to notify the state if the [...]

By | July 17th, 2017|Ongoing Management and Protection|0 Comments

How to Legally Structure Your Business To Secure Financing

All the pieces of your entrepreneurial dream are finally falling into place. You have a name for your business, a product or service that makes you super excited, and you’ve even started noodling designs and logos. Before you can go much further, however, you’re going to need funding. And in order to get funding, you will need to decide what type of structure is best for your business: a sole proprietorship DBA (doing business as); a C corporation or S corporation; a professional limited liability company (PLLC) or a limited liability company (LLC). Let’s take a look at [...]

By | July 14th, 2017|Seed and Development|0 Comments

Employer Identification Number: What is an EIN and How to do I Get One?

At CorpNet, we field a lot of questions centered on what aspiring entrepreneurs need to do from an IRS-standpoint to start a business. Almost daily, I see inquiries arrive about obtaining an EIN (Employer Identification Number). I’m glad people ask about that because it is indeed an important item to check off a startup’s to-do list. What Is An EIN? You may see EINs also referred to as “Federal ID number,” “Tax ID Number,” or Federal Tax ID Number.” It is a nine-digit number used for tax filing and reporting and for other business documentation purposes. Rather than [...]

By | July 12th, 2017|Startup and Launch|0 Comments

5 Inspiring Small Business Quotes from Top Olympians

We all have hurdles to jump and far distances to go. This is true of every business owner. Oftentimes, the grind is tough and it seems too difficult to go on, like our goals are unreachable. However, it’s important to remember that a little inspiration and plenty of determination can take us farther than what we’ve even dreamed. While the determination is up to you, you can find inspiration anywhere. We’ve compiled 5 quotes from top Olympic athletes to keep the torch of motivation burning inside you. Every champion was once a contender that didn’t give up. – [...]

By | June 28th, 2017|Growth and Expansion|0 Comments