Here’s a question I get almost daily: what’s the best state to incorporate in?
The second most asked question I get is: “what are the fees for incorporating in [state]?”
It’s interesting that the fees vary so much. For example, to incorporate in Connecticut, it costs $455. That’s on the high end! On the opposite end is Mississippi, at just $50.
Thank goodness tax time is over, right? I, like most small business owners, find this time of year a bit stressful. So after April 15 passes, I’m all about rejuvenating and recharging my battery.
When you run a business, whether you’re the only staff or you manage a team of ten, it is essential that you make time for yourself. Otherwise, you’re a stressed out ball of tension that puts your business —and your health — in jeopardy.
We’re all in the same boat here, so I thought I’d share how I decompress.
This time of year, most business owners are thinking about their small business taxes: how much they owe, what they need to do to file them, whether they have enough to pay what they owe. But did you realize that if you incorporate a business, how you file your small business taxes and how much you pay can sway in your favor (depending on the corporate structure you choose)? Let’s take a look at how incorporating affects your taxes.
If you’re like a lot of other small business owners, you drag your feet until the last minute to file and pay your taxes. It’s getting down to the wire, folks, so even if you want to wait until April 15 to file your taxes, you still have a lot of work to do to prepare.
When you first start a business, you may not need to hire, But as you grow, you start looking for people to help you take your business to the next level. But where can you find the right motivated people? Sure, you can post your job on a job board, Craigslist, or career site, but you can’t always know that you’re getting quality applicants.
So where DO you find the right people?
When you first start your business, whether you are set up as a sole proprietorship, partnership, a corporation, or a Limited Liability Company (LLC), you may take on all the work yourself. After all, you consider yourself a great multitasker, so why not do it all yourself?
You’ll learn this lesson sooner than later, but I’d rather you do it now and save yourself a lot of headache later: you’ve got to delegate to be an effective entrepreneur. That means that from Day 1, you should have the right people on your team that will help you skyrocket to success.
Owning investment properties can be an exciting and lucrative decision. However if you're considering an investment in real estate (whether a vacation rental, long-term rental, or for re-sale), be aware that these properties can also create liabilities.
No matter how good your business idea, no matter how passionate you are about your new idea, no matter how thorough your marketing plan, there is one factor that can completely put a halt to you starting a business.
We’ve written before extensively about all the benefits of incorporating a business, so I thought I’d take a different approach. Let’s look at some scenarios where being incorporated would help you in your small business.
Ah, a new year and a fresh start for your business. I’ll admit, sometimes my ideas for CorpNet get a little stale, so I have to look for inspiration to rejuvenate my brain. Here I share five places you, too, can be inspired with creative ingenuity for your brand.
As people -- more specifically as entrepreneurs -- many of us feel obligated to put up a shield to hide what’s really going on. When we’re asked how things are going with our businesses, we’re more inclined to focus on the highlights rather than the brutal truth. That truth might be that we’re working too much and getting sick a lot. Or that business has ground to a halt. Whatever that truth is, we feel it makes us vulnerable, and we feel like that compromises our ability to succeed.
Do you ever find yourself blaming everyone around you when things don’t go the way you want in your business? Maybe it’s “the economy” that kept you from hitting your sales numbers this year. Or your lack of employees that had you in the weeds all year. Whatever your favorite excuse, put the the kibosh on it in 2015.
If any of these sound familiar, make a New Year’s resolution to strike them from your vocabulary.
You’re passionate about your hobby, whether that’s hand sewing baby clothes or creating terrariums. And maybe you’ve started to make a little money selling these items. So when should you take your hobby to the next level and build a real business?
Here are five signs that it’s time to take your hobby up a notch.
Ask anyone who knows me, and they’ll tell you I’m full of inspirational advice for entrepreneurs. Now and then, I like to share what I’ve learned here to our blog readers. Hope you find them useful!
It’s funny how when you hit a certain milestone in your life, everyone’s there with unwanted advice. Like when you are expecting a baby. Getting married. Or...starting a business.
If you’re considering incorporating your small business, read this first. This is not a decision to be taken lightly, so make sure you’re aware of what you need to know and do to run a corporation.
If you’re considering forming an LLC, you’ve probably got questions. Fortunately, we’ve got answers. We’ve helped thousands of people form an LLC, so you could say we’re kind of experts on the subject.
While the obvious lessons we learn about entrepreneurship come from our own professional experience, I find that sometimes they pop up in unexpected places. Like my children.
When it comes to filing your small business taxes, it can seem overly complex. After all, what qualifies as a deduction? Are you filing as the proper status?
Don’t let tax season overwhelm you. Believe it or not, the IRS isn’t out to get you, but they do want you to play by the rules. These tips will help you alleviate the stress you feel this time of year and help you maximize your refund.
People are drawn to the entrepreneurial lifestyle for a variety of reasons. Some dislike having a boss or dealing with office politics. Others are tired of the cubicle monotony or feel like they can do it better on their own. And most entrepreneurs are driven by a passion for what they do and a desire to carve out their own future.
Yet too often, that initial passion is dampened by the realities of running the show. Working for yourself or starting a business is difficult work. There’s no guidebook or map to show you the way. You might encounter a few bad customers, people who don’t pay their bills, competitors who undercut you, and business partners who don’t treat you fairly. With too much work, entrepreneurs can become tense, anxious, and unhappy.
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