The Launch Blog: Expert Advice from the CorpNet Team
What I Love About Having My Business Partner as My Valentine
One thing that makes CorpNet unique is that it's run by husband/wife team, Phil and Nellie Akalp. In honor of Valentine's Day, Phil answers a few questions about working with the one he loves.
What's the best thing about working with your spouse?
Well…we have A LOT more to talk about at dinner and on date night. Although it’s important to separate the stressful part of our work lives from our personal lives, I find it very beneficial to our relationship to share and discuss the exciting and/or creative parts of our business…even during “personal time.” We really “connect” when we are excited about something at work. Thus it’s always a good idea to discuss a new project or idea…but we NEVER discuss accounting, taxes, or legal matters on date night.
Incorporate a Business: the Best Way to Protect Your Assets and Save Taxes
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.
Starting a Business? Can You Afford it Right Now?
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.
6 Ways to Lead by Example
Running a company — and therefore being in charge of people — is both a blessing and a curse. It’s a blessing because it’s fulfilling in so many ways. But it can be a challenge because every day, regardless of how you feel, you have people looking to you for guidance. You’ve got to be on your toes and ensure that you’re doing your best to lead by example so that your staff emulates what you do and works their hardest for your company.
Here are 6 tactics I’ve found effective in my leadership strategy.
Obtain Your California State Contractors License with an LLC
The state of California recently passed new legislation making it possible for Limited Liability Companies (LLCs) to be licensed contractors in California. This is big news, as it makes it possible for more companies to do business in California as LLCs. However, there are a few requirements that your company needs to keep in mind to avoid delays and errors in getting your LLC approved for a California contractor license which is highlighted in this post.
CorpNet Staff Spotlight: Amanda Beren
One of the things I love most about being a small business owner is the relationships I get to create over time with our small business employees. I love working with all of our CorpNet staff, but one of them has been with us longer than any of the others – she’s really more like a daughter to me than an employee, and she’s seen it all during her time at our company: so I’m pleased to put the “CorpNet staff spotlight” on Amanda Beren, our Senior Document Analyst.
CorpNet Staff Spotlight: Milton Turcios
CorpNet has a talented team of dedicated people who help our customers start a business, incorporate a company and manage business filings every day. One of our team members is Milton Turcios, who works in Document Fulfillment and Customer Service. Milton, like CorpNet CEO Nellie Akalp, is the child of immigrants, and he was the first child in his family to be born in the United States. In addition to his full-time job at CorpNet, Milton is currently attending Cal-State University Northridge (CSUN), majoring in Cinema and Television Arts with a focus in TV Production.
Interested in Forming an S-Corp? Read this First!
If you decide to incorporate as an S-Corporation, the company itself will not pay taxes. Instead, the taxes are handled by “pass through taxation,” where the earnings “pass through” to the company’s owners and employees. S-Corporations also ensure limitation of personal liability for the business owners, helping to separate your personal finances and protect your personal assets from those of your business.
How to Start a Construction Business
So you've decided to start a business in construction. Congrats! Despite the ebbs and flows of the real estate industry, there will always be work for you.
While you may have the basics of your business, such as who to hire and what to call your company, here are ten things you may not have considered.
How Becoming an Entrepreneur is Easier Than it Was 10 Years Ago
For those of you who started a business before the age of social media, blogging, and websites, you can attest: it’s a lot easier to be an entrepreneur these days.
Back then, we spent more time on the phone cold calling, and direct mail was booming. Networking was done face-to-face, and we couldn’t always track our marketing efforts. My, how times have changed.
How to Start a Cleaning Business
If you're looking to get into the cleaning business, there's plenty of opportunity to go around. In fact, the role of professional cleaning specialist is slated to be the fastest growing occupation for the next ten years. Whether you plan to buy an existing franchise cleaning service or go out on your on, there are a few things you need to take care of before you can start accepting clients.
Are You Ready to Start a Business?
Think you’re ready to start a business? This post will help you determine whether you’re ready to become a small business owner, or if you need to do a bit more developing before diving in. Just answer each question honestly to see where you stand.
Is it Time to Look at Your Business Structure?
Another tax time has come and gone. If you’re self-employed operating as a sole proprietor, tax time can be yet another reminder that you haven’t addressed your business structure yet. Maybe you started your business as a side project, and a sole proprietorship made sense. But is it best for your needs now?
The end of tax time is a perfect time to reassess what’s next for your business and legal structure. Here are some things to consider.
Creating a Five-Year Business Plan
It may be hard to envision what your company will look like in five years, but smart businesses at least try to project where they want to be in the future. Having a five-year business plan can help you create a vision of where you want to take your business.
Start with the End in Mind
Have you ever considered what your exit strategy is for your business? Meaning: will you sell it down the road? Transfer ownership to a family member? Run it until you die? Even if you can't imagine ever stopping what you're doing, consider the question. Maybe you'd like to move on to a different type of business in a few years. Knowing how long you'd like to run your business and how you'd like to exit can help you in creating your five-year business plan.
5 Tips for Being a Happier Entrepreneur
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.
8 Top Secret Tax Tips the IRS Doesn’t Want You to Know About
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.
10 Ways to Break the Ice at a Networking Event
It’s a classic scenario: you arrive at a networking event armed with business cards and ready to make connections. But once you get there, you can’t seem to pull yourself away from the wall and mingle with everyone who acts more confident than you feel.
5 Entrepreneurial Lessons My Kids Have Taught Me
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.
Ready to Incorporate? Why Delaware or Nevada May Not be the Answer!
Nevada and Delaware are popular states for good reason. Many larger corporations choose Delaware because it offers some of the most developed, flexible, and pro-business statutes in the country. And Nevada is increasingly becoming a popular choice for businesses due to its low filing fees, as well as the lack of state corporate income, franchise, and personal income taxes. However, most small businesses never see the benefits from incorporating in these states, and end up with a lot more headaches and costs than they ever anticipated. As a general rule of thumb, I like to say that if a small corporation or LLC has less than 5 shareholders or members, it is best to incorporate in the state where the business has a physical presence.
LLC vs. PLLC: Which Structure is Right for Your Business?
Choosing the appropriate business structure for your company is complicated. For attorneys, physicians, accountants, architects, and some other licensed professionals, there are extra factors to consider. Professionals who want liability protection and flexibility may feel drawn to the Limited Liability Company (LLC) structure. However, in many states, professionals whose jobs require licensing by the state aren’t legally allowed to form an LLC. Instead, they may have to form a Professional Limited Liability Company (PLLC). In this article, we’ll consider the LLC vs. PLLC, looking at the...
Where to Start Your Business? Look at the Fastest Growing Economies
When it comes to determining where you want to start a business, you want to choose a city that has a thriving economy and plenty of potential for you to corner the market in your industry. If you’re not planning to open a business in the town you live in, consider one of these, from WalletHub’s 2015’s Cities with the Fastest Growing Economies list. (And if you’ve already started your business, see how your city stacks up).
5 Small Biz Excuses That Shouldn’t Follow You into the New Year
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.
Coronavirus Relief & Aid for Small Businesses
During this uncertain time, I know many small business owners and entrepreneurs are feeling overwhelmed and stressed by the unknown. Not only do entrepreneurs worry about how the COVID-19 situation will hurt their businesses, but they also feel concerned about their employees. Indeed, the coronavirus has turned our world upside down. Fortunately, federal, state, and local governments are stepping up to the plate to create ways to provide Coronavirus relief and aid to businesses and the people who work for them. In this article, I will share some of the currently available information...
Three Tips for Business Coaches to Help Their Clients Succeed in 2019
How can you help your coaching clients achieve entrepreneurial success? These tips for business coaches will help you help your clients succeed.
Is Your Business Structure Really Working for Your Business?
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.
Dawson and Associates Has a “Great Marriage” with CorpNet
Linda Dawson, owner and CPA at Dawson and Associates, works closely with CorpNet to help startup clients get up and running. She says CorpNet and her company have "a great marriage" in that they both work together to help small business owners start a business. In this video, Linda talks about why starting a business isn't always as scary as you may think, and shares why she loves our CorpNet Compliance Portal. Linda appreciates that CorpNet is there for her business, to assist her when clients need to incorporate a business or form a new LLC. She says that CorpNet always has solid...
