IRS

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 [...]

2017-12-13T14:16:24-07:00 June 13th, 2017|Categories: Startup and Launch|Tags: , , , , |

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. [...]

2017-12-27T11:18:46-07:00 May 31st, 2017|Categories: Growth and Expansion|Tags: , , |

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 [...]

2017-11-20T11:17:30-07:00 May 22nd, 2017|Categories: Startup and Launch|Tags: , , , |

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 [...]

2017-11-22T13:07:55-07:00 May 1st, 2017|Categories: Ongoing Management and Protection|Tags: |

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, [...]

2017-09-08T10:16:42-07:00 April 28th, 2017|Categories: Ongoing Management and Protection|Tags: , , |

How to Start an Accounting Firm

If you’re a CPA or an accountant, the transition from working for someone else to being your own boss has probably crossed your mind. When you start an accounting firm, you'll soon see that self-employment offers an opportunity to have more control over your own schedule, allowing you to better balance your professional endeavors and personal life. It also enables you to manage your firm the way you want to manage it. But where do you start? How can you start an accounting firm and make sure you are checking all the boxes for compliance? Seven Steps to [...]

2018-06-05T06:16:06-07:00 April 19th, 2017|Categories: Startup and Launch|Tags: , , , |

Avoiding A Job Discrimination Law Suit

Hiring the right people to be part of your team can greatly affect your business’s ability to succeed. It’s an important process—and a tricky one! When considering job candidates, you need to be careful or you could find yourself facing legal problems. If at any point during the hiring process you don’t comply with the federal and state (and even some local) laws that protect people from job discrimination, you risk having a lawsuit filed against your company. When hiring employees, you must comply with all anti-discrimination laws. Even an unintentional misstep can cause major issues for your [...]

2018-01-10T12:02:30-07:00 April 14th, 2017|Categories: Ongoing Management and Protection|Tags: , , |

Registering a Trademark – FAQs

Registering a trademark can feel like a massive undertaking, but it doesn't have to be daunting. We'd like to get you pointed in the right direction, so let's run through some common questions we receive on trademark registrations. What is a trademark? A trademark is a word, phrase, symbol or design (or a combination of any of these) that identifies the source of a product or service and distinguishes it from competitors. What can be trademarked? Trademark registration can be granted on distinctive names, logos and slogans. You might want to seek a trademark for a product name, [...]

2017-10-04T07:08:16-07:00 April 12th, 2017|Categories: Ongoing Management and Protection|Tags: , , , |

7 Small Business Expenses to Account for in Your Monthly Budget

Budgets are essential to manage your costs and keep your small business expenses limited and your company profitable throughout the year. Due to the dynamic nature of any small business, you can’t just set a budget in January and let it sit unchanged until the end of the year. Every month, take stock of your business’ performance and expenses and use that data from the prior month to update your budget. Your monthly budget needs to provide you with enough detail so that you can identify potential cash crunches in the near future as well as opportunities to [...]

2017-09-28T05:56:08-07:00 April 5th, 2017|Categories: Ongoing Management and Protection|Tags: , , |

Illegal Job Interview Questions Small Businesses Need to Avoid

As a small business owner, it’s important to which illegal job Interview questions you need to avoid asking your future hires. Laws at the federal and state level exist to protect people from being discriminated against during the hiring process. As an employer, you need to carefully formulate the questions you ask during a job interview. In our office, anyone interviewing a potential job candidate must follow a standard set of best practices for interviewing job candidates. Such practices are critical for avoiding a job discrimination lawsuit that could tear down the business success you’ve worked so hard to achieve. Top Illegal [...]

2017-09-27T09:49:34-07:00 March 30th, 2017|Categories: Ongoing Management and Protection|Tags: , |

Six Tips To Help Business Leaders Gracefully Handle Adversity In The Office

In an ideal business world, everyone working at a company would always get along famously and harmoniously collaborate day in and day out toward shared objectives they all believe in passionately. Sounds nice, right? Unfortunately, it’s not very realistic—neither for the entrepreneur starting a business nor the business owner running an existing business for years. In all companies, leaders face adversity within their ranks at times. Adversity isn’t usually fun, but it doesn’t have to be debilitating either. How can you manage adversity gracefully so it doesn’t hurt your business? Below are some ways I’ve found to effectively [...]

2017-12-13T14:19:28-07:00 March 29th, 2017|Categories: Ongoing Management and Protection|Tags: , |

Should Your Company Use a Professional Employer Organization?

Small business owners may be new the phrase professional employer organization, but PEOs have been around now for several years and changing the face of human resources management. A PEO provides comprehensive outsourcing for all tasks and functions typically performed by an in-house human resources department. This may include employee job descriptions, benefits, payroll, insurance, and regulatory requirements. PEOs act as a "co-employer" with your company so that they share contractual obligations with your employees. Management decisions, however, remain with your company. You continue to guide the daily job duties and responsibilities of your employees while the PEO [...]

2017-11-14T04:21:40-07:00 March 22nd, 2017|Categories: Ongoing Management and Protection|Tags: , , , , |

How to Scale Your Business in 2017

There is so much 2017 can offer to your business. We are a couple of months in, and if you are still doing business as you did previous years - you may be missing out on some major growth opportunity! Businesses are updating their processes faster than ever these days. From adding new ways of automating or discovering new apps that will make their lives easier, it all adds up to having every first quarter of the year different than before. In order to avoid falling behind and to keep up with customers fast-forward demands, here are some ways your business [...]

2017-11-14T04:21:40-07:00 March 15th, 2017|Categories: Ongoing Management and Protection|Tags: , |

S Corporation Election Deadline Is Almost Here: What You Need To Know

If you’ve legally established your business as a C Corporation or Limited Liability Company (LLC) that has elected to be viewed as a corporation for tax purposes, you have the option of filing IRS Form 2553 to get S Corporation tax treatment. Why would you want to do so, you ask? Because it could make a big impact on your business’s bottom line. The Potential Advantage for LLCs LLC owners who find themselves with a high self-employment tax burden might benefit from choosing the S Corp election. LLCs are normally taxed like sole proprietorships—with all business profits subject [...]

2018-02-23T07:16:54-07:00 March 2nd, 2017|Categories: Ongoing Management and Protection|Tags: , , , , , |

Should I Call My Employee an Associate or Representative?

Small business owners often struggle when coming up with a job title for their new employee or when listing an open position at their business. Although we’d all like to think that a job title doesn’t mean that much, it’s actually really important from both an employer and employee point of view. What Job Titles Mean - and What They Can Do According to Fast Company, 80% of companies they surveyed use job titles to demonstrate an employee’s position in the company hierarchy. And 92% use job titles to define an employee’s role within the company. Perhaps even [...]

2017-09-08T10:34:27-07:00 February 9th, 2017|Categories: Ongoing Management and Protection|Tags: , |

Foreign Qualifying your Business – FAQs

Happy February! With winter now in full swing, we will be talking about a way to get away from the cold with Foreign Qualifying! This month, we discuss the opportunities of Foreign Qualification into another state and what the requirements are for those states. Q: What is foreign qualification? A: A corporation or LLC transacting business in a state(s) outside of their state of incorporation is typically required to foreign qualify in those other states. Q: What constitutes transacting business in another state and when do I need to foreign qualify? A: As examples, your company is considered [...]

2017-11-28T11:59:13-07:00 February 7th, 2017|Categories: Startup and Launch|Tags: , , |

Nellie in the News – January 2017

Another month has flown by - 2017 is off to a great start for us in the CorpNet office! Our New Year's resolutions are still going strong. How about you? Our CEO, Nellie Akalp has been busy as always in the press letting you know the best ways to start your business and how CorpNet can help! Call us today to incorporate, Form an LLC, file a DBA or for your other business formation needs. Here's a recap of what was published in January! Interviews & press Mentions Small Business Trends - 10 Essential Ingredients of a Successful Business [...]

2017-09-08T10:38:41-07:00 February 1st, 2017|Categories: Nellie in the News|Tags: , , |

What Every Small Business Should Know About 1099s

Every year when tax time rolls around, I field questions from business owners about whether or not they need to send 1099s to their vendors. As common as 1099 forms are, they remain one of the most misunderstood Internal Revenue Service (IRS) requirements. To make sure you understand the circumstances under which the IRS requires issuing 1099-MISC forms to vendors, I’m going to provide some basic “must-know” information here. What Is A Form 1099-MISC? You must issue an IRS Form 1099-MISC to each person you’ve paid $600 or more in services (including parts and materials), prizes and awards, [...]

2017-09-25T10:39:02-07:00 January 31st, 2017|Categories: Ongoing Management and Protection|Tags: , , , , |

How Job Titles Can Help You Hire Great Talent

So it’s a new year, and you're looking to hire new talent. You start off by posting a job online, but you’re not finding many candidates, at least not the great ones your company needs. How come? You may not realize this, but the job titles on your postings might be the reason. Professionals care about the job title a company will provide them with (as well as one they’ll be proud to boast on their resumes in the new year). If you spend enough time looking at other job descriptions and titles, you’ll begin to notice a [...]

2017-09-08T10:34:27-07:00 January 24th, 2017|Categories: Ongoing Management and Protection|Tags: , |

How To Use Live Video Chat For Your Small Business

In the past fifteen years, technology has transformed the way in which we communicate. In both our personal and professional lives, we have more channels available to us than ever: text messaging, instant messaging via social networks, and live video chat. The latter is a cutting-edge way for individuals to speak with others across the globe, and continues to become more valuable, with the video platform as a service (PaaS) market expected to generate $1.7 billion in 2020. Live video chat may be ideal for friends and family to communicate in an intimate way, but it also holds [...]

2018-01-11T04:49:53-07:00 December 22nd, 2016|Categories: Growth and Expansion|Tags: , |