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.

Symptoms and Remedies for 13 Common Entrepreneurial Pitfalls

It seems that everyone on Instagram is an Entrepreneur or CEO. What used to be a high risk and scary choice, has now been glamorized into fast money, luxurious lifestyles, and ready-set-go businesses. A picture is worth a thousand words, but the stories behind the glossy pictures are anything but fancy. I know the true stories of self-doubt, self-sabotage, and business burnout. Over the years I've seen the same 13 challenges and entrepreneurial pitfalls in myself, my clients, and other entrepreneurs: Not Having a Clear Focus/Mission Trying to Be All Things to All People Lack of Revenue Diversity — [...]

By | 2018-01-26T07:47:16+00:00 March 15th, 2018|Categories: Ongoing Management and Protection|Tags: |0 Comments

How Will 2018 Tax Reform Affect Your Small Business?

It seems like you just got your business taxes handled for 2017, and now you have to 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. Sole proprietorships are the most common form of business organization in the United States because they are easy to form and offer the owner complete control of the business. Profits are passed through to the owner, and business income and expenses are reported on the individual’s [...]

By | 2018-03-07T05:11:31+00:00 March 8th, 2018|Categories: Ongoing Management and Protection|Tags: , , |0 Comments

Why All Home Businesses Need Professional Indemnity Insurance

Professional indemnity insurance, also known as errors and omissions insurance, is a policy that covers the legal costs and expenses during your defense against a client. If a Client has accused you of inadequate services, designs or advice they may want to take you to court if they felt they have lost money in the situation. Working from home can be a great experience in life but if you aren't fully protected and a problem escalates, you can be left vulnerable with no one to turn to. People can put off getting professional indemnity insurance especially whilst starting [...]

By | 2018-03-12T11:16:00+00:00 March 7th, 2018|Categories: Ongoing Management and Protection|Tags: |0 Comments

7 Steps to A Healthier Workplace

It’s no secret that working a desk job comes with its share of health risks. According to The Washington Post, working at a desk can result in elevated risk of heart disease, over-productive pancreas, colon cancer, a strained neck, poor circulation, degenerating abdominal, hip, and glute muscles, and softer bones (among others). So what can you do to combat the negative health impact of sitting all day in an office setting? Good news: there’s plenty you can do to make your workplace healthier. Whether you’re a concerned employee, or a small business owner looking to do right by [...]

By | 2018-02-26T09:28:49+00:00 March 7th, 2018|Categories: Ongoing Management and Protection|0 Comments

3 Things to Consider When Choosing a Tax Preparer

Since Donald Trump took office just over a year ago, there have been few major legislation that have passed. One that did squeak through was the GOP tax reform, and with mixed reporting on who the tax cuts will benefit, when, and how long for, individuals and businesses may feel swamped by the conflicting information they have been reading and hearing about in the last few months. With dire consequences for incorrect filings, the biggest shake-up to taxes in thirty years has left many feeling anxious about what these changes mean for them. The Tax Cuts and Jobs [...]

By | 2018-02-15T03:30:09+00:00 March 1st, 2018|Categories: Ongoing Management and Protection|Tags: , |0 Comments

Tax Season Survival Kit for Accountants

No matter what your industry, you know when your busy season is about to start. For retailers, it’s the holidays; for florists, Mother’s Day and Valentine’s Day; for water parks or surf schools, summer. For accountants, of course, it’s tax season, where you can generate half your annual revenue or more for your accounting during these busy months. But how do you handle the extra workload during tax season without losing your sanity? Our tax season survival kit for accountants can help. 10 Steps to Help Accountants Survive Tax Season Step 1. Create a Game Plan You can’t go [...]

By | 2018-02-21T14:38:35+00:00 February 27th, 2018|Categories: Ongoing Management and Protection|0 Comments

Small Business Tax Advice and Survival Guide

Tax season comes to all businesses big and small, and can be a headache no matter how well you think you’ve prepared. For a small business owner wearing many (or all) hats in the business, it’s an unwelcome extra task sure to cause late hours and frayed nerves. To handle the additional workload during tax season, CorpNet offers some small business tax advice and presents our Tax Season Survival Kit for business owners. Step 1. Gather All Necessary Documentation The first step in preparing for taxes is gathering any necessary documentation. Ask your tax accountant for the list [...]

By | 2018-02-26T07:58:08+00:00 February 26th, 2018|Categories: Ongoing Management and Protection|Tags: , |0 Comments

5 Proven Strategies to Retain Top Talent

According to a recent report by the U.S. Bureau of Labor and Statistics, 3.3 million Americans voluntarily left their jobs in December 2017. That number accounts for 63% of total separations between employees and their employer. According to this 2016 Human Capital Benchmarking Report, the average cost per hire to replace an employee is $4,129 and the average time it takes to fill a position is 42 days. Both could rise in 2018. It’s expensive, time-consuming, and a drain on company resources to hire and train an employee to replace a great team member who leaves. And in [...]

By | 2018-02-07T06:31:13+00:00 February 21st, 2018|Categories: Ongoing Management and Protection|0 Comments

How to Budget as a Freelancer

Creating a budget as a freelancer shouldn’t be any harder than it is for any other small business. And yet, the rollercoaster ride of finding and keeping clients, collecting invoices, marketing your business and juggling all of this yourself can create major budgeting headaches. Income predictability is a challenge unique to freelancers, according to a recent survey by Upwork and Freelancers Union. Fortunately, there are many simple steps you can take better learn how to budget as a freelancer. Step 1: Keep Business and Personal Finances Separate Even if you used personal assets to start your freelance business, [...]

By | 2018-01-18T06:19:50+00:00 February 15th, 2018|Categories: Ongoing Management and Protection|Tags: , , , , |0 Comments

Internet Sales Tax Rules for Small Business

Whether you’re just starting your e-commerce business or adding an e-commerce store to your existing brick-and-mortar, it’s crucial to fully understand internet sales tax rules. In the United States, sellers are only required to collect sales tax from buyers in states where they have “sales tax nexus” or a significant presence in a state. You always have sales tax nexus in a state if it is your home state and/or if you have an office, store, warehouse, sales representative, or employee located in that state. The government also considers you have nexus if you sell products in a state’s [...]

By | 2018-01-24T04:32:53+00:00 January 23rd, 2018|Categories: Ongoing Management and Protection|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

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 [...]

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

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 | 2018-02-23T09:22:49+00:00 December 8th, 2017|Categories: Ongoing Management and Protection|0 Comments

The What, Why, and How of LLC Insurance

Does your LLC need insurance? LLC insurance coverage is a measure you can take to help protect your business assets in the event of a legal claim against your company. While forming an LLC creates a separation between your personal assets and those of your business, having insurance for your LLC helps guard your company against losses as a result of circumstances in the course of doing business. How Do You Know What Kind of LLC Insurance You’ll Need? The type and amount of LLC insurance coverage will depend on a variety of factors including the level of [...]

By | 2017-11-27T14:18:37+00:00 December 1st, 2017|Categories: Ongoing Management and Protection|Tags: , |0 Comments

Recognizing and Managing Entrepreneurial Burnout

Every single business owner goes through periods where they've lost their oomph. Sometimes, it's due to a struggling business. Perhaps that growth curve has stagnated (or flatlined) or the feedback you're getting is that your product is all wrong. Perhaps your team is in conflict. Perhaps your expansion has failed, and you're having to go through layoffs or cutbacks or stop the growth of a new division. Oomph goes away for other reasons. One friend of mine found herself without the oomph to keep going because her business had succeeded. She had spent years pursuing financial freedom, and [...]

By | 2018-02-23T10:02:07+00:00 November 15th, 2017|Categories: Ongoing Management and Protection|0 Comments

19 Options for Small Business Invoicing Software

An article on Business Insider stated that 40 percent of Americans will be freelancers running their own small business by the time 2020 arrives. If this proves to be true, that is a major shift in how Americans work and make their money. Sadly, a lot of new - and even experienced freelancers - fail to operate successful and sustainable small businesses. One of the main reasons most businesses disappear after the first year of operation is because they fail to achieve a stable revenue stream. Many times they get caught up in the work they are performing and they forget to [...]

By | 2018-01-18T04:29:57+00:00 November 14th, 2017|Categories: Ongoing Management and Protection|Tags: |0 Comments

LLC vs. S Corp vs. C Corp

Yes, operating a business as a sole proprietor or general partnership offers simplicity, but that comes at the cost of not having separation between you as an individual and your company. Are there other options? What about the LLC vs. S Corp vs. C Corp? For entrepreneurs who want to protect their personal assets and have tax flexibility, registering as a type of legal business entity—such as LLC or S Corporation or C Corporation—is well-worth exploring. LLC vs. S Corp vs. C Corp - What’s the Difference Anyway? Continue reading because I’m going to break down the basics of [...]

By | 2018-02-19T06:49:57+00:00 October 23rd, 2017|Categories: Ongoing Management and Protection|Tags: , , , , |0 Comments

What Is a Trademark?

What is a trademark? A trademark is a word, phrase, symbol, or design (such as a business name or logo) that identifies the source of a product or service and distinguishes a brand from its competitors. Trademarks give owners of their marks protection from other businesses in the U.S. using those marks. Preventing confusion in the marketplace is the primary purpose of trademarks. To obtain a trademark, you must file an application with the U.S. Patent and Trademark Office (USPTO). The Details: What is a Trademark? If you're still asking "what is a trademark?" read on for more [...]

By | 2018-02-19T06:43:23+00:00 October 12th, 2017|Categories: Ongoing Management and Protection|Tags: , |0 Comments