The Launch Blog: Expert Advice from the CorpNet Team

2018 End of Year Business Compliance Checklist

Finish 2018 right with all of your business compliance requirements in order. This end of year business checklist will help.

Use a Home Address to Incorporate a Business–What to Consider

s it OK to use your residential address as your business address, too? Here's what to consider before you use your home address to incorporate a business.

How to Start an Amazon Business

Entrepreneurs and startups have recently become very unclear about how to start an Amazon business because the responsibility of online sellers to collect and remit sales tax has been an issue under debate for quite some time. Entrepreneurs who have brick-and-mortar stores in jurisdictions that have enacted sales tax clearly must add state (and sometimes local) sales tax to customer’s bills when selling taxable goods. And then send they must send those funds to the proper tax authorities. But what if you sell your products online to customers in other states? The rules haven’t been completely clear in [...]

Start a Business Checklist for a Home Based Business

Knowing your how to start a business checklist for a home based business may sound simple to most people. With no need to rent or buy office space and worry about setting up workstations for employees, how tough can it be, right? Well, although setting up shop at home offers some degree of simplicity, business owners who work out of their homes still face some of the same legal considerations companies with dedicated places of business do on how to start a business from home. If you’re contemplating about launching a business and how to start a business [...]

How to Incorporate a Nonprofit Organization Checklist

Some aspects of starting a nonprofit are similar to starting a for-profit business, but nuances exist. How to Incorporate a Nonprofit Organization can be confusing and complicated and it can be helpful to have a checklist of what you should address to incorporate a business as a Nonprofit Organization. Before I go any further, let's first chat about what being a nonprofit business means. The information that I'm about to provide you in this article on How to Incorporate a Nonprofit Organization is not intended as legal, tax, or financial advice. It's for general knowledge purposes to give [...]

2018-11-15T12:54:09+00:00 November 20th, 2018|Categories: Startup and Launch|Tags: , , , , , , , |

Should I Incorporate or Form an LLC for my MLM Business?

Do You Need to an MLM LLC for Your Network Marketing Business? MLM entrepreneurs are considered independent contractors. By default, they’re sole proprietors, but forming a legal business entity offers potential liability protection and tax benefits. Also sometimes called “network marketing” companies, MLMs offer income opportunities to folks who want to set their own schedule and work at their own pace—without having to build a business from the ground up. Many people who want the flexibility of being their own boss have chosen careers in working as agents for multi-level marketing (MLM) companies, so I regularly field questions [...]

2018-09-29T14:55:40+00:00 October 23rd, 2018|Categories: Startup and Launch|Tags: |

Sole Proprietor vs. LLC

If you’re the sole owner of a business, you may have pondered the question: “Should I operate as a sole proprietor or a single member LLC?” Decisions, decisions! So what else is new when running a business, right? There are always choices to make—and deciding which business entity type will be right for your company is one not to be made lightly. The type of business structure you choose will have legal and financial implications. It will also affect the time you spend on efforts to keep your business compliant with whatever rules must be followed for the [...]

2018-09-29T14:42:55+00:00 October 2nd, 2018|Categories: Startup and Launch|Tags: , |

Do You Need a Corporate Veil?

What Is the “Corporate Veil”? When a company is formed as a Limited Liability Company (LLC) or corporation, it is regarded as its own legal entity. Therefore, the business—rather than its owners—is held accountable for its debts and legal responsibilities. “Corporate veil” (also called a “corporate shield”) is a business term that refers to the legal distinction between an LLC or corporation and its owner(s). It is the legal separation established by keeping a company’s activities, assets. and liabilities independent from those of the business owner(s). Is it Necessary? The corporate veil, when kept intact, helps protect a [...]

2018-08-28T16:28:05+00:00 August 29th, 2018|Categories: Ongoing Management and Protection|Tags: |

What Is a Reseller License?

If you’re starting a retail business (whether online or at a brick and mortar location), you’ll want to apply for a reseller license. A reseller license certifies you don’t have to pay sales tax when buying products on a wholesale basis for the purpose of reselling them to customers. In some states, a reseller license might alternately be called a reseller permit, resale license, resale certificate, sales tax permit, or some other term. Regardless of its name, its purpose is to identify your company as a reseller. Reseller License and Sales Tax In the United States, a business [...]

2018-08-14T12:22:16+00:00 August 22nd, 2018|Categories: Ongoing Management and Protection|Tags: |

How to Legally Start a Food Truck Business

You’ve likely seen them on busy city streets or at the town fair. They’re also popular sitting outside breweries and concert venues. Schools often hire them for fundraising events. We’re talking food trucks, of course. According to Food Truck Nation, food trucks brought in an estimated $2.7 billion in revenue in 2017, and this industry is not done growing. The road to success with a food truck business is one paved with growth and opportunity, as long as you know (and follow) the rules of the road. Whether you’re adding a food truck to your existing brick-and-mortar restaurant [...]

2018-08-14T04:49:19+00:00 August 15th, 2018|Categories: Startup and Launch|Tags: , , , , |

How to Hire a Ghostwriter for Your Accounting Blog

Does your accounting business need a blog? Yes, web content like blogs helps your business rise in the search engine rankings. So, if your business website doesn’t have a blog, it’s time to create one. If you already have a blog, are you keeping it current? When potential clients see a website with an outdated blog, it immediately gives them cause for concern. But, you may be thinking, you’re so busy running your accounting business, you don’t have the time to create and maintain a blog. Why not hire a ghostwriter to write some—or most—of your posts? By [...]

2018-08-08T11:59:35+00:00 August 9th, 2018|Categories: Growth and Expansion|Tags: , |

Do Uber Drivers Need an LLC?

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 choose for their business. Should Uber Drivers Form an LLC? After signing the Uber contract to designate themselves as a self-employed private contractor, Uber drivers face the decision of what type of business structure they should operate under. They shouldn’t take this lightly, because the business structure chosen will affect their tax obligations and degree of personal liability. When Uber drivers don’t establish [...]

2018-08-07T05:54:44+00:00 August 7th, 2018|Categories: Startup and Launch|Tags: , |

What Is the LLC Tax Rate?

Before forming an LLC, many entrepreneurs ask about the standard LLC tax rate to see if this form of entity is a solid option for their new business. This is an excellent question and one that can be best answered by exploring what an LLC is and how it is taxed. The LLC (limited liability company) business entity type is one of the most popular selected by small business owners. It shields the owner’s personal assets from the liabilities of the business and may result in some tax savings to boot. The LLC is an entity formed according [...]

2018-08-02T13:34:10+00:00 August 2nd, 2018|Categories: Ongoing Management and Protection|Tags: , , , , , |

What to Expect When Selling Your Business

Maybe your end game has always been focused on selling your business. Or is the pace of running a business becoming too much, and you’re ready to slow down and retire? Perhaps you have a new business idea and you want to sell your business to pursue (and finance) that dream. Whatever your reason for selling your business, your timing is spot-on. According to BizBuySell, an online marketplace for small business buyers and sellers, small businesses are currently selling for record-breaking prices. BizBuySell surveyed 2,300 small business sellers and future business buyers and found sellers can sell for more money because [...]

2018-08-01T08:17:18+00:00 August 1st, 2018|Categories: Maturity and Exit|

Do I Need a Business License to Sell on Amazon?

Entrepreneurs who want to sell their products through Amazon’s marketplace face many of the same opportunities and challenges as brick-and-mortar stores. Naturally, they have a lot of questions about launching and running an online business. It’s exciting to think of the possibilities but often daunting to figure out where to start, what to do, and where to turn for help and direction. One of the things these business owners want to know is, “Do I need a business license to sell on Amazon?” Regardless of whether an Amazon seller has formed an LLC or corporation or is operating [...]

2018-07-24T11:43:07+00:00 July 26th, 2018|Categories: Ongoing Management and Protection|Tags: , , |

Choosing the Best State to Start a Business

Choosing the best state to start a business is an important detail in your overall business plan. When it comes to launching a small business, “Location, location, location” is part of the formula for success. If you’re wondering if a specific location would give your startup an extra advantage over the competition, you should check out WalletHub’s latest report on 2018’s Best & Worst States to Start a Business. With a bad location ranked as one of the top reasons for business failure, choosing where to launch your business can be almost as important as choosing what business [...]

2018-07-10T11:54:54+00:00 July 24th, 2018|Categories: Startup and Launch|Tags: |

Buying a Business Checklist

Want to buy an existing business? You’re not alone. BizBuySell.com, a marketplace for business buyers and sellers, reports continued strong business-for-sale activity in the second quarter of 2018. Small businesses sold for a median sale price of $239,000 in the second quarter of 2018. BizBuySell.com predicts 2018 will be a “recording-breaking year when it comes to small business transactions.” As a result, more sellers are putting their businesses up for sale—adding to the already sizeable number of baby boomer entrepreneurs who are selling their businesses in preparation for retirement. You probably have good reasons of your own for [...]

2018-07-18T13:57:59+00:00 July 19th, 2018|Categories: Startup and Launch|

CorpNet Partner Program: How It Helps Accountants and Other Professional Firms Increase Revenue Without Adding Overhead

CorpNet has always been focused on helping entrepreneurs in all industries succeed. We not only offer services to help them save time and money in forming their own businesses, but we also provide a program for accountants, attorneys, and other professionals to enable them to expand their client services and increase revenue. I recently presented two webinars about the CorpNet Partner Program: Increase Revenue & Client Satisfaction Without Increasing Overhead or Staff – Which explains the Partner Program and how it enables accountants to expand their services quickly and with minimal effort. How to Maximize Your Revenues as [...]

2018-07-17T06:57:37+00:00 July 17th, 2018|Categories: Partner Program|

Do Amazon Sellers Need an LLC?

Amazon sellers, like other entrepreneurs that sell products online, should think about how their business structure affects them professionally and personally. The business entity type chosen has an impact on income tax obligations, ongoing business compliance requirements, and the financial and legal liability of the business owner. So, you’re asking a valid question if you’re wondering “Do Amazon Sellers Need an LLC?” While it doesn’t appear that Amazon requires sellers to form their businesses as any particular business entity type, it’s wise to consider the potential advantages of operating as something more than a sole proprietorship or general [...]

2018-07-11T07:32:59+00:00 July 11th, 2018|Categories: Startup and Launch|Tags: |