Ongoing Management and Protection

CorpNet’s blog posts offer a wealth of information for navigating through the ongoing management and protection of startup and business operations. Our articles are written by industry experts who have the experience to help you avoid common and unnecessary mistakes.


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.

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: |

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: , , , , , |

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: , , |

Four Small Business Freedoms That Make Every Day Like Independence Day

Picnics, fireworks, sparklers, and red, white, and blue-themed decorations every Fourth of July. Many of us pull out all the stops to celebrate the freedoms we enjoy here in the U.S.A — and rightly so! We have a lot to be thankful for. As my family celebrates this holiday, I thought about how fortunate we are to be small business owners. In a way, every day is Independence Day for entrepreneurs who have taken charge of their own destinies. So what better time than this week to take pause to reflect on your freedom as a small business [...]

2018-07-02T11:09:43+00:00 July 2nd, 2018|Categories: Ongoing Management and Protection|Tags: |

Trademark vs. Service Mark

Trademark vs. service mark? What's the difference? Both are issued by the United States Patent and Trademark Office to distinguish a brand's products and services from those of other businesses. Trademarks distinguish a company's products, whereas a service mark relates to the services a company provides. Both fall under the category of intellectual property. Why Apply for a Trademark or Service Mark? When you're building a brand, it's important to differentiate yourself from your competition. Moreover, the last thing you want is for another company to hijack your company name or logo and confuse customers about with whom [...]

2018-06-27T14:06:34+00:00 June 27th, 2018|Categories: Ongoing Management and Protection|

10 Ways to Take Care of Your Kids and Your Business This Summer

School’s out! Chances are your kids are celebrating right now because weeks of summer vacation beckon. But, if you’re starting a business or running a business, and you have school-aged children, you’re likely feeling a little conflicted. Entrepreneurs like you and me struggle a bit in the summer—trying to balance our desire to be great business owners—and great parents. While I love (and truthfully look forward to) having my kids at home during the summer months, I confess it’s getting increasingly harder to keep them occupied while I’m hard at work. I know this is a struggle we all face—how [...]

2018-06-13T06:30:35+00:00 June 13th, 2018|Categories: Ongoing Management and Protection|

Fictitious Name Registration: Know What It Is and Why You Need One

Why You Might Need to Process a Fictitious Name Registration As a small business owner, it’s important to able to pivot quickly if the marketplace isn’t buying what you sell. That was a lesson I learned immediately after I started my business in 2008. Initially, our business planned to connect small and midsized business owners with companies that wanted to market to them. But did I mention it was 2008? As the economy crashed, big companies cut their budgets and the costly services we’d planned to sell were a no go. We had to start over, including using fictitious [...]

2018-06-12T07:51:17+00:00 June 12th, 2018|Categories: Ongoing Management and Protection|Tags: , |

What an LLC Statement of Information Is and Why You Need One

What is an LLC Statement of Information? No matter which state your Limited Liability Company is located in, you will need to file documentation with the Secretary of State to establish your company and keep it legally compliant. A Statement of Information is one of the standard reporting requirements that many LLCs across the United States must adhere to. A state may require a Statement of Information as an "Initial Report," due shortly after registering a business. Moreover, many states mandate LLCs to submit a Statement of Information (also sometimes called an "Annual Report") each year, every other [...]

2018-06-05T11:55:00+00:00 June 7th, 2018|Categories: Ongoing Management and Protection|Tags: |

Protecting Your Business from Personal Injury Claims

Whether you are running a two-man grocery shop or a fifty strong supermarket, small businesses can readily become a victim of personal injury claims. Very few personal injury claims are legitimate. Most are born out of greed. As a result, workers or customers may sue a business for millions, even if the case is trivial. Unfortunately, a personal injury claim not only makes your business suffer financially but also ruins your reputation resulting in long-term consequences. Though a personal injury claim can threaten your business, there are ways to prevent it from happening. However, sometimes when preventive measures [...]

2018-04-19T09:04:02+00:00 May 31st, 2018|Categories: Ongoing Management and Protection|

How to Apply for a Trademark Application

Every now and then a trademark application case hits the headlines that makes you cringe at its arrogance (Apple’s fight to stop any sort of apple symbol being used in a logo) or just makes you laugh (Taylor Swift attempting to trademark the phrase “this sick beat”). And then there’s the outright scary—Facebook wanting to stop any business name from using the word “face.” These are extreme examples, but because brand recognition plays such a vital role in today’s business world, companies have become very aggressive when it comes to protecting their names and identities. So, what are [...]

2018-05-10T05:49:32+00:00 May 15th, 2018|Categories: Ongoing Management and Protection|Tags: |

Hit Hard With 2017 Taxes? It’s Time To Change Your Legal Structure for 2018

It seems like you just got your business taxes handled for 2017, and now you must start worrying about 2018 taxes. That’s because the tax reforms signed into law last December under the Tax Cuts and Jobs Act will most definitely affect your business taxes—and possibly your company’s legal structure as well. And you might be wondering how to avoid a hit like that in the future.  Maybe it’s time to change your business legal structure. If you’re self-employed and operating as a sole proprietor, I suggest exploring if a change in legal structure might provide some tax relief [...]

2018-05-09T06:15:45+00:00 May 9th, 2018|Categories: Ongoing Management and Protection|Tags: , , , |

CPA Burnout is Real: Take These 5 Steps to Push Through

Are you distancing yourself from relationships, feeling a loss of personal accomplishment or just overall suffering from emotional exhaustion? You could be on the dangerous road to CPA burnout. Whether your accounting firm is just starting out or growing by leaps and bounds, running your own business can be extremely stressful. You may never have imagined that your entrepreneurial dream could turn into an entrepreneurial nightmare, but CPA burnout is real. Running your own CPA business means being all things to all aspects of your business. Not only are you the boss (the buck does stop with you), [...]

2018-05-03T05:03:12+00:00 May 8th, 2018|Categories: Ongoing Management and Protection|

7 Expenses You Can Save On by Working from Home

In the past, it seemed pivotal that an entrepreneur have a brick and mortar or office location for their business. If they were unable to afford or secure one, many people would abandon their business dreams altogether. Luckily, this has changed, as more and more entrepreneurs are opening or moving their businesses to their home. In fact, there are as many as 38 million home businesses across the U.S.! Although there are many perks of running a home business, such as having a flexible schedule and improved work/life balance, one of the most notable is that you can [...]

2018-04-19T09:42:47+00:00 April 25th, 2018|Categories: Ongoing Management and Protection|

Five Ways to Optimize Your Accounting Firm Operations

If you’re like most entrepreneurs, you frequently get the urge to change the way you do things and replace them with new systems and fresh ideas. After all, spring is the time for new beginnings, and your accounting firm operations could probably use a bit of a refresh. As you well know, your operations are the crucial activities of your business, from sales and accounting to marketing and customer service. It’s important for all parts of your operations to balance and support each other. Keep reading to learn how to optimize your accounting firm operations and boost your [...]

2018-04-19T08:48:41+00:00 April 24th, 2018|Categories: Ongoing Management and Protection|

The Top 10 Mistakes Freelancers Make

Freelancing. It’s hard work! I see mixed responses on the faces of people when I tell them that I earn money as a freelance writer. Most people appear impressed and assume that I jet around the world from assignment to assignment. But the truth is, it’s a real job that takes a lot of effort. From marketing my own services to delivering content to clients, I own the process from start to finish. It’s a big responsibility. I often have new freelancers ask me how I’ve made a living in this crazy industry. It really is a lot [...]

2018-04-12T06:20:12+00:00 April 19th, 2018|Categories: Ongoing Management and Protection|Tags: |

Pre-Employment Screening Helps You Get to Know Your Candidate

An application is the first step to getting to know a candidate. The next step is when you are able to have an in-person interview with the candidate and see what they’re like in person. Interviews are usually an opportunity to get a deeper look at the candidate- analyze their mannerisms, learn about their personality and ask them questions that weren’t on the application. While you may feel that you know a candidate after an interview, do you really? Or do you just know what they told you? While your default reaction may be to just take a [...]

2018-03-07T07:59:29+00:00 April 5th, 2018|Categories: Ongoing Management and Protection|Tags: |

6 Tips to Improve Employee Appreciation Programs

The secret to creating a work environment employee’s want to work is to recognize their hard work in creative ways that will be appreciated. Employee appreciation programs need to be researched before implementation, and the conversation starts with employees. It is one of the best ways to retain top talent in a workforce of professionals that often feel disengaged at work. Start a Conversation The best source of information to enhance the employee experience starts with, employees. It can be achieved with one of the following strategies: A survey with open-ended questions Town hall meeting: Invite all employees [...]

2018-03-07T07:59:52+00:00 March 29th, 2018|Categories: Ongoing Management and Protection|

Can Accountants and CPAs Help Clients File an LLC?

This weekend there was a question posted on Facebook asking this very question. Can accounting professionals, like CPAs or staff accountants, help their clients file LLC formation documents? Is this considered "practicing law" or is it part of a firm's standard accounting services? Here is the Original Question   Here is an answer from a group member:   This woman hits the answer spot-on. Since this is such a great question, I believe it deserves exposure outside of Facebook so I wanted to cover it on our blog as well. Here was my answer inside of the Facebook [...]

2018-06-05T06:16:01+00:00 March 27th, 2018|Categories: Ongoing Management and Protection|Tags: , |