So you want to change your business structure from a sole proprietorship to an LLC or a corporation? Great! But you might be wondering if you should incorporate now and make the change, or wait to file your paperwork until the New Year. If you’re one of those hyper-organized people, like me, you probably love the idea of having a neat and tidy January 1 effective date. After all, who wants to deal with filing two sets of tax forms—one for the period of time in this year when you operated as a sole proprietor and another for [...]
With school back in session, students of all ages are learning new things—and discovering how much they don’t know in the process. Whether you’re an aspiring entrepreneur or long-time business owner, one thing is certain: like the kids who are back to school, you always have room to learn and grow. As I’ve learned and grown as a business owner, one of my favorite phrases has become, “You don’t know what you don’t know.” How true, right? It’s far too easy to fool ourselves into thinking we really know all there is to know. But the truth is [...]
As an online legal document filing service that helps entrepreneurs with an array of startup needs, we get asked a ton of questions from our clients about various topics. We decided to start sourcing these questions and create a new blog post series for our readers, as some of you may be wondering the same thing but haven’t found the answer elsewhere. Today we are launching our new FAQ series starting on the topic of business licenses. Here are some of our most frequently asked questions on the popular topic followed by answers from our CEO Nellie Akalp. [...]
So you have an idea and want to get that business off the ground - congratulations!! When planning the steps to start your business, there are some legal aspects you don’t want to overlook. These steps may not be the most glamorous parts of starting a business, but you want to make sure the business is set up properly from the start to avoid issues down the road. Here are my must-do steps to legally start a business followed by a special offer on CorpNet.com services: 1. Choose a Business Name Have an ideal name in mind for [...]
Starting and running a business as an LLC (Limited Liability Company) offers some advantages to business owners who want liability protection, taxation flexibility, and credibility without complexity. Next to a sole proprietorship, it’s the business legal structure that’s least complicated and void of cumbersome formality. But if you’ve already incorporated a business, can that entity be a member of your LLC? And what could that accomplish for you? Yes! Your Corporation Can Be A Member of Your LLC All states allow for other types of business entities (not only individuals) to serve as members of LLCs. Generally, there [...]
It’s officially summer time here in Westlake Village, CA where the CorpNet offices are located. Many of us hit up the beach this past weekend and had our first ocean swim of the season! We had a great month helping entrepreneurs incorporate a business, form an LLC, file a DBA and more across all 50 states. Our CEO Nellie Akalp also had another great month sharing her expert tips and advice across many podcasts and blogs. Check out some press highlights below! Want Nellie to speak at your next event or share her tips on your podcast? Contact [...]
One of the most valuable assets your business will ever have is its name. Your business name is more than what your company is called—it represents your brand’s identity and it’s a way for you to distinguish yourself from your competition. With your business name carrying that much weight, it makes sense to protect it. As you start your business, consider these two approaches to prevent other companies from using your name and confusing your customers: Business Name Registration If you form an LLC or apply to incorporate a business in a state, your business name is automatically [...]
You’ve been chugging along as a sole proprietorship for a while now, but you’re beginning to realize that might not be the best idea to protect your business. So you’re considering converting your sole proprietorship to another structure, specifically the S Corporation. Ask yourself the following questions to determine if now is the right time to convert your business structure. 1. Do You Want to Bring on Investors? Maybe you bootstrapped your business, but now you’re ready to take the company to the next level, and to do that, you need investors. This is an automatic reason to [...]
If you’re starting a new business or revisiting your decision to operate as a sole proprietorship, you may want to give the Limited Liability Company (LLC) some attention. The LLC legal structure offers advantages that attract entrepreneurs running small businesses in virtually every industry: retail, restaurants, graphic designers, technology, and attorneys. That’s right, even lawyers choose to form their businesses as LLCs.
Any business that doesn’t deliberately choose a business structure launches by default as a sole proprietorship (or a partnership, if it has partners). But sometimes down the road, needs change, and the business starts to consider a different structure to protect itself.
If you’re contemplating getting funding for your startup, start by researching your funding options. Once you’ve decided which financing option is best for you, use the following resources to do your homework, find the best company to work with, and position your business as an attractive investment.
November was a big month for Nellie! Here, check out her interviews and blog posts on being a woman entrepreneur, marketing your business, changing from a sole proprietorship to an LLC, and much more.
Long known for having no income tax and being a popular choice for incorporating a business, Nevada has some big changes underfoot that could affect you if you run a business (or are incorporated there).
There may come a day when, after everything in your small business has been chugging right along for a while, that you start to wonder if the business structure you first chose is still a good fit.
Starting a business can be an exhilarating time, where everything seems full of potential and purpose. But amidst the excitement, navigating the logistics of launching a business can be daunting for the first-time entrepreneur.
When you first start a business, you usually have no clue that somewhere down the line, you might open a second. Or a third. But many of us — including myself — end up being happenstance serial entrepreneurs. After selling our first business filing service to Intuit, my husband, Phil, and I didn’t wait long before forming CorpNet. We were simply too passionate about helping people become entrepreneurs to sit out of the game.
In the back of your mind, you’ve been fantasizing about quitting your job and starting a business for years. So why haven’t you done it yet? If any of the following ring true, it’s time to stop dreaming and make that vision of starting a business a reality!
Florida is a fantastic place to run a Limited Liability Company. The small business environment is conducive to helping entrepreneurs succeed, and the fact that there is no state tax is reason enough for many to start a business in Florida.
Colorado is a great place to start a small business. Not only is the weather great (pleasant summers and ski-fun winters), but the business climate is appealing too. Once you start a business in Colorado, you’ll need to think about the business structure you want for your company. If you do nothing, it will be a sole proprietorship. And while that’s the easiest business structure to have, it leaves your personal assets vulnerable.
You spend time coming up with the perfect name for your business...only to find someone else decides to use it right after you open your company. With another business with the same or similar name in town, your customers are getting confused, and you start losing sales. It happens to many entrepreneurs, and it’s completely preventable. There are two strategies you can use to protect your business name: registering a business name and trademarking a business name. We’ll look at both so you know which is the best fit for your company.