Startup and Launch

Are you considering launching a new business? If so our startup and launch articles are an ideal resource for you to dig into and educate yourself. Our blog posts cover everything from selecting the best type of business entity to knowing what state you should incorporate in. Don’t make unnecessary mistakes! Let our startup experts get you headed in the right direction.


How to Start a Successful Bookkeeping Business

Good accounting software, a few clients, high-speed internet and a passion for being your own boss…what else does it take to start your own bookkeeping business? As with every small business startup, it’s important to do some research, and take care of the basics before you actually open for business. If you start your business on the right foot, you won’t stumble when you’ve grown and had so many clients you need to hire help. Increasing Your Chances for Business Success Get training or real-world experience. Working at an accounting firm or bookkeeping business can give you some [...]

By | 2018-02-07T07:22:29+00:00 February 13th, 2018|Categories: Startup and Launch|0 Comments

Benefits of an S-Corporation

Incorporating is one of our favorite services, not only for the tax savings it provides those who are self-employed, but also for the asset protection it offers those with passive real estate investments or one-off productions in the entertainment industry. Before we dive into the benefits of an S-Corporation, let’s first understand each type of business entity: S-Corporation: Entity used to assist self-employed individuals transition from small to medium sized business structure. Only entity that allows the self-employed to reduce social security and Medicare tax (SE tax). An S-Corporation can also be an LLC electing to be taxed [...]

By | 2018-01-09T06:13:59+00:00 January 18th, 2018|Categories: Startup and Launch|Tags: , , , , , , |0 Comments

6 Business-Boosting Benefits of Incorporating Your Company

One of the most critical decisions you will make as a business owner is choosing the business entity type for your company. Sole proprietor or partnership? Limited Liability Company (LLC), or corporation? Decisions, decisions! For many of the entrepreneurs that I work with, incorporating offers a variety of advantages legally and financially over operating as a sole proprietorship, partnership, or LLC (Limited Liability Company). You should talk with your attorney and accountant or tax advisor before you select a business structure because it’s important that you fully understand the pros, cons, and your compliance responsibilities. To get you [...]

By | 2018-01-02T04:52:49+00:00 January 2nd, 2018|Categories: Startup and Launch|Tags: , |0 Comments

How to Start a Trucking Business

If you’ve always wanted to start a trucking business, now could be the perfect time to put your plan into action. In the third quarter of 2017, e-commerce accounted for 9.1% of overall retail sales—almost double the figure from 2010. Online retailing’s popularity is just one reason the amount of goods hauled by truck is projected to grow by more than 3% annually for the next five years, according to the American Trucking Associations (ATA). Demand for trucking will be so great that the ATA predicts the industry will need to recruit almost 100,000 new drivers per year. [...]

By | 2017-12-18T10:36:23+00:00 December 27th, 2017|Categories: Startup and Launch|Tags: , |0 Comments

Finance Your Business With These Low Stress Options

Today’s business owners have more options for business financing than ever before.  But some methods to finance your business may cause you to toss and turn at night more than others. Of course, stress can be subjective. One person’s definition of stress may be different from another’s.  But this list can help you sort through the different ways to finance your business that are less likely to cause you stress -- or at least allow you to choose what YOU consider to be low stress. Here are some lower-stress financing options for your small business: Low-Stress Ways to [...]

By | 2017-11-13T05:05:34+00:00 December 15th, 2017|Categories: Startup and Launch|0 Comments

What is the Best Time of Year to Form an LLC?

Have you been thinking of launching a new business or changing your existing sole proprietorship to a formal business entity type? Are you concerned that you might not be selecting the best time of year to form an LLC? So When Really is the Best Time of Year to Form an LLC? There's never a bad time to register your business as a legal entity—doing so helps protect your personal assets and might offer some tax advantages, as well. But filing your paperwork to make it effective before the New Year has its perks! So if you are [...]

By | 2017-12-20T04:01:00+00:00 December 13th, 2017|Categories: Startup and Launch|Tags: , , , |0 Comments

Is a Farm LLC Really Necessary?

Starting and running a farming business provides opportunity and the freedom to forge your own professional path. There’s hard work involved, of course—farming is a 24/7 commitment. And an agricultural business comes with many of the same risks that other types of companies do—and some that other types of businesses do not. A farming business faces many uncontrollable threats such as economic downturns, droughts, floods, accidents related to the use of large equipment, unseasonable freezing weather, and even food trends that may put certain ingredients on the outs. Farming, while it can be fulfilling and financially sustaining, comes [...]

By | 2017-12-06T15:12:20+00:00 December 6th, 2017|Categories: Startup and Launch|Tags: , , , , |0 Comments

Ten Tips for Creating a Business Name

Creating a business name is one of the most exciting and important startup tasks that entrepreneurs must tackle. The name you choose for your business will serve to distinguish you from your competitors and give customers insight into the experience they will have with your company. You will want to get it right and follow the necessary steps to ensure you have legal rights to use your name before you start publishing it on all of your documentation and marketing materials. Tips to Help You Create and Protect Your Business Name 1. Consider the Brand Personality You Want [...]

By | 2017-11-20T11:02:42+00:00 November 27th, 2017|Categories: Startup and Launch|Tags: , |0 Comments

Choosing an Effective Planning Strategy for Your Startup

How the right framework for planning can help you consistently reach your goals and grow your business. Gone are the days of the traditional “business plan” (thankfully!). Startups and newly formed small businesses move fast, are flexible, and make decisions on a shorter timeline than businesses did years ago. By the time you finish formatting a business plan, your business could have pivoted two or three times to capitalize on an opportunity or avoid a disaster if you were focused on those realities instead of burying your head in a document. But, that doesn’t mean that startups should [...]

By | 2017-11-20T05:27:40+00:00 November 22nd, 2017|Categories: Startup and Launch|Tags: |0 Comments

Do I Need Articles of Organization For a Michigan LLC?

If you're considering forming a limited liability company (LLC) in Michigan, you're probably wondering what paperwork the state requires. For example, do you need Articles of Organization for a Michigan LLC? That's one of the common questions we field here at CorpNet—for Michigan and the other 49 states in the U.S. Articles of Organization – Michigan: Does Your LLC Need Them? The answer is yes. In the state of Michigan, an LLC must file an Articles of Organization form with the Corporations, Securities & Commercial Licensing Bureau of the Michigan Department of Licensing and Regulatory Affairs. The Bureau [...]

By | 2017-11-14T03:54:21+00:00 November 13th, 2017|Categories: Startup and Launch|Tags: , , , |0 Comments

Get the Lowdown on Wyoming LLC Fees

Thinking of starting a business in Wyoming? Or maybe you already have one there, but want to change your business structure to an LLC. Either way, you need the scoop on how to form an LLC in Wyoming, as well as what it’ll cost you. Why Form an LLC in Wyoming The LLC — or Limited Liability Company — is a smart choice for your business structure. It protects your personal finances, home, vehicles, and other assets from being seized to cover your business’ expenses. It can also make it easier to position your business to borrow money [...]

By | 2017-11-10T10:16:46+00:00 November 10th, 2017|Categories: Startup and Launch|Tags: , , , |0 Comments

Foreign LLC Registration and Management

Registering your business as a foreign LLC (also known as “foreign qualification”) is required under certain circumstances when you operate your business outside of the state in which you've formed your LLC. Despite the term "foreign," a foreign LLC operates domestically within the United States. Your LLC isn't considered foreign in the state in which you initially registered it, only in the states where you've expanded its operations. Breaking Down the Need for a Foreign LLC A few hypothetical scenarios of when you may need to file as a foreign LLC include: Your retail home decor business is [...]

By | 2017-11-06T12:45:57+00:00 November 7th, 2017|Categories: Startup and Launch|Tags: , |0 Comments

Expert Advice for Registering a Business in Oregon

Have you been thinking about making your dream of starting your own business in the beautiful Pacific Northwest a reality but not sure how to begin?  This post will help guide you through the process of registering a business in Oregon – one of the most scenic and culturally diverse states in the region. Registering a Business in Oregon - What You Need to Know Before we begin, realize the information going forward assumes that you have already decided that operating your business as a sole proprietorship or general partnership (if you will have multiple owners) is not for [...]

By | 2017-10-25T10:18:48+00:00 October 26th, 2017|Categories: Startup and Launch|Tags: , , , , , |0 Comments

20 Characteristics of Successful Entrepreneurs

There's a neverending debate on whether entrepreneurs are born or made. I don't claim to be able to make the call one way or another, but I have noticed several characteristics that the most successful small business owners seem to share. Here they are. Whether entrepreneurs are made or born, they all share similar characteristics. How many of these do you possess?

By | 2017-10-04T09:26:29+00:00 October 3rd, 2017|Categories: Startup and Launch|Tags: |0 Comments

Breaking Down Business Entity Types

One of the most important steps you’ll need to make when starting your business is reviewing business entity types and deciding which one you should choose for your company. The structure you pick will affect your business from legal and tax obligation standpoints. That’s why it pays to understand the various business entity types—and the potential advantages and downsides of each. I recommend talking with a business attorney and accounting professional for guidance. In the meantime, I’m going to share some information about the most commonly used business structures to give you a head start in furthering your [...]

The Fail Proof Process for Incorporating in California

Have you considered incorporating in California but you're just not sure where to begin? As a California business owner, I’m excited to help guide other entrepreneurs get their companies up and running in this fine state. In this post, I’m going to walk you through the process of forming a corporation in California. But first, let’s take a look at the various kinds of corporations the state recognizes. Types of Corporations in California General For-Profit Corporation (General Stock Corporation) - A General For-Profit Corporation is a legal entity, separate from the shareholders who own its stock. It can exist [...]

By | 2017-09-08T10:37:43+00:00 September 6th, 2017|Categories: Startup and Launch|Tags: , , , , , |0 Comments

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 [...]

Employer Identification Number: What is an EIN and How 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 Employer Identification Number? 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. [...]

By | 2018-02-06T07:14:55+00:00 July 12th, 2017|Categories: Startup and Launch|Tags: , , , , , |0 Comments

Professional LLCs – FAQs

Happy June! Summer is fast approaching and with new beginnings, we bring you a new post in our FAQ series! This month, we discuss the Professional LLC, or "PLLC" and the ins and outs of filing them. What is a PLLC? A Professional Limited Liability Company is a special type of LLC that’s designed for licensed professionals, such as accountants, lawyers, and doctors (typically, professions that require a license). Some states do not allow licensed professionals to form an LLC since they don’t want them to escape personal responsibility for professional malpractice by “hiding behind” the personal liability [...]

By | 2017-12-13T14:16:24+00:00 June 13th, 2017|Categories: Startup and Launch|Tags: , , , , , , |0 Comments

How Much Does It Cost To Incorporate Your Business?

So you’ve decided to either form an LLC or incorporate your business. Kudos to you for thinking about the benefits of liability protection and possible tax advantages that come with formally establishing your company as a separate legal entity. Like many small business owners, you may now be wondering how much does it cost to incorporate your business and in what state should register your company. Some entrepreneurs opt to incorporate or form an LLC within the state they live. Others look around for a state with the most cost-effective fees. For example, Delaware has become a popular [...]

By | 2017-09-08T10:05:15+00:00 June 7th, 2017|Categories: Startup and Launch|Tags: |0 Comments