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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

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

Dissolve an LLC With These Six Easy Steps

For a variety of reasons, entrepreneurs may decide to close the business they worked so hard to start and grow. Situations change and the need to dissolve an LLC or corporation may need to be addressed. An entrepreneur can grow tired of small business ownership or may simply want to retire. Possibly the business has been losing money or it isn't as profitable as it needs to be. Regardless of the reasons, an LLC needs to be dissolved in a formal and methodical manner. This task doesn't have to feel daunting. Our six easy steps will provide a guide [...]

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 [...]

By | 2017-09-27T09:26:05+00:00 September 27th, 2017|Categories: Ongoing Management and Protection|Tags: , , , , |0 Comments

Flexible Staffing Options: Get Help Without Hiring Full-time Employees

At some point, growing businesses need more hands on-deck. But that doesn’t necessarily mean you have to invest the money to hire full-time employees—yet. Before you hire full-time employees, there are other staffing options you can explore. Bring on Extra Help With Our Six Flexible Staffing Options 1. Family and Friends Starting a business requires long hours and time away from family and friends. You can avoid the separation issue (and create new bonds) by hiring family and friends to help run your business. Family businesses account for 64 percent of the U.S. gross domestic product and create [...]

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

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) [...]

By | 2017-09-08T10:16:41+00:00 August 30th, 2017|Categories: Ongoing Management and Protection|Tags: , |0 Comments

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 [...]

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 [...]

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 [...]

By | 2017-09-08T10:37:43+00:00 August 8th, 2017|Categories: Ongoing Management and Protection|Tags: , , |0 Comments

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, [...]

By | 2017-10-04T08:46:33+00:00 August 2nd, 2017|Categories: Ongoing Management and Protection|Tags: , , |0 Comments

Filing an Amendment: 7 FAQs to Keep You in Compliance

This month, we answer all your thought-provoking questions about filing an amendment. July marks the middle of the year and a great time to make changes within your company! When do I need to file an amendment? Articles of Amendment are required if any of the information included in your incorporation or foreign qualification paperwork changes. For example: Changes to the company name Changes to the Registered Agent Information Company Business Address Director or Member Information Number of Authorized Shares Business Activities of the Company Do I need to notify the state if the nature of my business changes? [...]

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

5 Inspiring Small Business Quotes from Top Olympians

We all have hurdles to jump and far distances to go. This is true of every business owner. Oftentimes, the grind is tough and it seems too difficult to go on, like our goals are unreachable. However, it’s important to remember that a little inspiration and plenty of determination can take us farther than what we’ve even dreamed. While the determination is up to you, you can find inspiration anywhere. We’ve compiled 5 quotes from top Olympic athletes to keep the torch of motivation burning inside you. Every champion was once a contender that didn’t give up. – [...]

By | 2017-09-08T10:16:41+00:00 June 28th, 2017|Categories: Growth and Expansion|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

Local SEO for Your Local Business: Get Listed Where It Counts Most

Local SEO, the art and science of optimizing your business website for local search, has a few more steps to it than your general SEO practice. After you’ve identified your general keywords and optimized your content for them, you still need to take a few more steps to make your local business stand out from your competition. Most local search is performed with the intention of an immediate visit, so you want potential customers to be able to find you as they drive around town and in emergency situations, if that is relevant to your product or service. [...]

By | 2017-12-27T11:18:46+00:00 May 31st, 2017|Categories: Growth and Expansion|Tags: , , |0 Comments

How To Choose And Legally Use Your Business Name

The name you choose for your business will be one of your most powerful and valuable assets. As one of the primary ways customers distinguish you from your competitors, your business name wields a lot of power. The right name can help propel you to success; the wrong name can put you at a disadvantage. Besides choosing a business name that: Projects how you want people to view your business (e.g., edgy, professional, high-tech, academic, approachable, etc.) Makes it easy for customers to identify what you do. Is simple enough to be memorable. I encourage you to have [...]

By | 2017-11-20T11:17:30+00:00 May 22nd, 2017|Categories: Startup and Launch|Tags: , , , , |0 Comments

National Small Business Week: What It Means For You

Sunday, April 30, 2017, marked the start of National Small Business Week. From that day through Saturday, May 6, the U.S. Small Business Administration (SBA) has organized a variety of events to celebrate small businesses and the impact they have on our national and local economies. According to the SBA National Small Business Week website, “More than half of Americans either own or work for a small business, and they create about two out of every three new jobs in the U.S. each year.” I say that’s reason to celebrate! Don’t you agree? We're celebrating at CorpNet.com by [...]

What Can Employers Not Discriminate Against?

As a business owner, it’s exciting to hire employees and watch your company grow. But there are legal risks if you give job candidates and employees reason to believe your staffing decisions and policies are discriminatory. The first step in avoiding a job discrimination lawsuit is to have a basic understanding of what you can’t discriminate against and the nature of the laws that prohibit employment discrimination. You need to comply with all applicable federal and state (even some local) laws that protect people from job discrimination. So, in your employment ads, job applications, job interviews, background checks, [...]

By | 2017-09-08T10:16:42+00:00 April 28th, 2017|Categories: Ongoing Management and Protection|Tags: , , , |0 Comments