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.


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 [...]

2017-12-27T12:58:02-07:00 December 29th, 2017|Categories: Ongoing Management and Protection|Tags: , , , , , |

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 [...]

2017-12-20T04:00:52-07:00 December 18th, 2017|Categories: Ongoing Management and Protection|Tags: , |

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 [...]

2017-12-11T12:54:16-07:00 December 11th, 2017|Categories: Ongoing Management and Protection|

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 [...]

2018-02-23T09:22:49-07:00 December 8th, 2017|Categories: Ongoing Management and Protection|

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 [...]

2017-11-27T14:18:37-07:00 December 1st, 2017|Categories: Ongoing Management and Protection|Tags: , |

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 [...]

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

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 [...]

2018-01-18T04:29:57-07:00 November 14th, 2017|Categories: Ongoing Management and Protection|Tags: |

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 [...]

2018-02-19T06:49:57-07:00 October 23rd, 2017|Categories: Ongoing Management and Protection|Tags: , , |

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 [...]

2018-02-19T06:43:23-07:00 October 12th, 2017|Categories: Ongoing Management and Protection|Tags: |

Why Every Entrepreneur Needs to Know About Asset Protection

Entrepreneurs put a lot of sweat equity into starting and running their businesses. They make sacrifices and have a lot on the line. Unfortunately, despite how much time and energy business owners put forth, there’s no such thing as guaranteed business success. When a business doesn’t make it, it’s distressing. But when an entrepreneur’s home, family vehicle, personal savings account, and other non-business property gets pulled into the fray due to their failing company’s legal or financial troubles, it’s even more devastating. That’s why you and every business owner should be aware of what you can do to [...]

2017-10-02T14:34:05-07:00 October 4th, 2017|Categories: Ongoing Management and Protection|Tags: , , , |

Is a Multi-Member LLC Right For You?

The multi-member LLC is a Limited Liability Company with more than one owner. It is a separate legal entity from its owners, but not a separate tax entity. A business with multiple owners operates as a general partnership, by default, unless registered with the state as an LLC or corporation. Would it make sense for you to form your business as a multiple member LLC? To arrive at that answer, you need to consider how choosing that business entity type will impact you legally, administratively, operationally, and from a tax perspective. I encourage you to speak with an [...]

2017-09-27T09:26:05-07:00 September 27th, 2017|Categories: Ongoing Management and Protection|Tags: , , , |

How to Protect a Business Name

As an entrepreneur, my business name is my greatest asset.  I have invested countless hours promoting my business.  I have untold articles hoping people respond favorably when they hear the word "CorpNet." I have traveled across the United States, away from my husband and children, promoting my business name and its products and services.  Thus, preventing others from using or "stealing" my brand name is of utmost importance to me.  And, the quest to protect a business name should be important to you. Registering a Business Name Offers No Protection After speaking with several other entrepreneurs, I have [...]

2018-02-06T07:02:37-07:00 September 22nd, 2017|Categories: Ongoing Management and Protection|Tags: , , |

What Is a Fictitious Name?

What Is a fictitious name? A fictitious name is a name other than your proper legal business entity name that you formally get permission from the state (or county) to use when conducting business. You may also see a fictitious business name referred to as a “Doing Business As” (DBA), “assumed name,” or “trade name.” Throughout this post, I will use the terms “fictitious name” and “DBA” interchangeably. At CorpNet, we help business owners throughout the United States file DBAs. Fictitious names can benefit businesses of all types—from sole proprietorships to LLCs to corporations. At CorpNet, we help [...]

2017-09-20T10:11:10-07:00 September 22nd, 2017|Categories: Ongoing Management and Protection|Tags: , , , |

Top Real Estate LLC Mistakes and How to Avoid Them

With any property, there are inherent liabilities — from a broken balcony railing to old electrical wiring or mold. And with an LLC, your personal assets aren't vulnerable should you be sued by a tenant or property guest. Forming an LLC is a relatively quick and painless process. And while it may straightforward, there are some common mistakes that investors make that can impact the benefits of the LLC as dicussed and laid out wihtin this blog post.

2017-12-20T11:31:41-07:00 September 20th, 2017|Categories: Ongoing Management and Protection|Tags: , |

What Is a Registered Agent?

Many business owners will ask themselves what is a registered agent and then question if they really need one. The answer to both questions is yes! A registered agent is a person or company with the authority to accept service of process (legal documents and government notices) on behalf of a business. When selecting a registered agent, the business must designate one who has a physical location within the state where the business is registered to operate. A registered agent is a person or company with the authority to accept service of process (legal documents and government notices) [...]

2017-09-08T10:16:41-07:00 August 30th, 2017|Categories: Ongoing Management and Protection|Tags: , |

Back to School and Back to Business: Legal Checklist for Entrepreneurs

This time of year is a rite of passage for any student and parent, but it also signals that we’ve entered the home stretch of the year. We want to make sure that small businesses end the year with success! That’s why we put together a back-to-school legal checklist for entrepreneurs. Instead of hitting the books this fall, small business owners should take the time to make sure their legal and administrative obligations are in order. The Legal Checklist for Entrepreneurs 1. Incorporate or Change your Business Structure Many small businesses start out as a sole proprietorship or [...]

2018-02-16T13:55:00-07:00 August 23rd, 2017|Categories: Ongoing Management and Protection|Tags: , , , , , |

5 Tips to Help You Manage Your Books

Bookkeeping is a big concern for small business owners as many don’t have past experience managing the books. However, being smart about how you deal with it will save you a lot of time, effort, and headaches. In this article, we’ll cover 5 tips to help you manage your books. Manage Your Books With These Tips 1. Keep all of your business records organized. If you want your business to run efficiently and smoothly, you need to keep a record of every part of your business. Imagine if a client refuses to pay and it leads to a [...]

2017-12-28T06:04:17-07:00 August 23rd, 2017|Categories: Ongoing Management and Protection|Tags: |

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 [...]

2017-09-08T10:37:43-07:00 August 8th, 2017|Categories: Ongoing Management and Protection|Tags: , |

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, [...]

2017-10-04T08:46:33-07:00 August 2nd, 2017|Categories: Ongoing Management and Protection|Tags: , |

Business 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 [...]

2017-10-10T07:18:11-07:00 July 26th, 2017|Categories: Ongoing Management and Protection|Tags: , , , , , |