Ongoing Management and Protection

The SBA’s Paycheck Protection Program is an amazing opportunity for small businesses. It provides a 100% forgivable loan to cover payroll, rent, and utilities. The United States government has moved swiftly to get this program funded and operational. And in some...

Normally, at this time of year, you might find yourself scrambling to file your Florida annual report by the May 1st deadline. A business’s annual report confirms or updates a company’s information in the Florida Division of Corporations' records. The State...

Filing a North Carolina annual report is a yearly activity that is required to maintain your company's registration as a legal entity in the state. It contains information about the company and is due whether or not the entity is actively conducting business. Only...

Did you structure your business as a corporation or LLC for limited liability protections? For most scenarios the extra filing requirements, paperwork and fees are worth it—your personal liability protection helps make sure your assets are protected from the...

So, you want to be a landlord? Here’s what to know about setting up a rental property business and protecting it with an LLC or S Corp. Whether you want to purchase property to rent out on Airbnb or you want to lease office space, it’s important to understand that...

Many small business owners choose to operate their companies under the LLC business structure. They do so with good reason! The LLC offers liability protection to its owners (members), tax flexibility, and compliance simplicity. However, that tax flexibility may...

Before the advent of the S Corporation in 1958, entrepreneurs had two options for forming a business entity. They could form a partnership or form a C Corporation. But neither of those business structures fulfilled the needs of many people seeking to start their...

Does your business need to collect sales tax and remit it to the state or local tax authority? And if it does, how do you go about getting a sales tax license? Moreover, what if your business is selling your products across state lines? Do you need to charge and...

In 2020, the hot topic is California’s Assembly Bill 5, often called the “Gig Economy Bill.” This is because AB 5 makes it difficult to be an independent contractor in California. Before we examine AB 5 in detail, let’s understand why California legislators passed...

Whether you work as an independent contractor or your business hires independent contractors, California’s new AB5 law, which went into effect January 1, 2020, forces your hand on becoming an employer or an employee depending on how you conduct your business. The...

The decision to change an LLC name is one not to consider lightly. After all, your business name is one of your most important brand assets. But sometimes, a name change is in order for one of many reasons. Perhaps there was a mistake in your formation paperwork,...

"Business compliance" is a phrase that makes many an entrepreneur cringe. But despite the lack of affection for those two words, business owners MUST take them seriously. The possible consequences for noncompliance range from “mild inconvenience” to “devastating...

If you’re an accountant, attorney, or in the business of otherwise professionally advising entrepreneurs, you may have had clients inquire about what they need to do to expand their companies into other states. One of the most important steps involved in the...

What is an LLC-5? The LLC-5 is a California State form used when a domestic limited liability company formed in another state (or country) wishes to become a foreign limited liability company in California.  The official name of Form LLC-5 is “Application to...

Creating a legal entity for your startup will establish much-needed separation between you and your business. Shielding your personal assets is the first and foremost reason to think about incorporating.

But let's face it. When it comes down to choosing a business structure, small business owners are typically concerned about one thing: taxes.

One of the most important decisions you can make that determines the long-term success of your business is figuring out how to stay on top of your finances. In the beginning, as you get your business up and running, it might seem easier to keep your personal...

Despite your best efforts to choose the perfect name for your company, there may come a time when that name no longer is the best fit. Perhaps the business name no longer accurately reflects your brand or there are legal considerations at play. Regardless of the...

What Is a fictitious name? A fictitious name is a name other than your proper legal business entity name that you formally get permission from the state (or county) to use when conducting business. You may also see a fictitious business name referred to as: Doing...

Professionals like you, who help entrepreneurs navigate the challenges of starting and growing their businesses, will likely encounter clients asking about a "Letter of Good Standing." Let's take a moment to talk about what a Letter of Good Standing is and why...

Before forming an LLC, many entrepreneurs ask about the standard LLC tax rate to see if this form of entity is a solid option for their new business. This is an excellent question and one that can be best answered by exploring what an LLC is and how it is taxed....

Entrepreneurs who want to sell their products through Amazon’s marketplace face many of the same opportunities and challenges as brick-and-mortar stores. Naturally, they have a lot of questions about launching and running an online business. It’s exciting to think...

Trademark vs. service mark? What's the difference? Both are issued by the United States Patent and Trademark Office to distinguish a brand's products and services from those of other businesses. Trademarks distinguish a company's products, whereas a service mark...

What is an LLC Statement of Information? No matter which state your Limited Liability Company is located in, you will need to file documentation with the Secretary of State to establish your company and keep it legally compliant. A Statement of Information is one...