The Launch Blog: Expert Advice from the CorpNet Team
10 Mistakes to Avoid When It Comes to the CARES Act Funding Relief
With tons of misinformation swirling out there, you may be afraid of making a crucial mistake when it comes to applying for and receiving CARES Act relief funding. Here are 10 mistakes to avoid. Application Mistakes 1. Not Being Prepared Any delay in your...
The Small Business Mid-Year Checklist
How are we nearing mid-year already? If you’re like me, the current business climate has been a whirlwind of trying to keep up on new information, planning for post COVID-19 recovery, and still maintaining running our business operations. Now that we’re approaching...
9 Tax Benefits in the CARES Act
There are more advantages to the CARES Act than just relief funding that can help your small business save money and those come in the form of tax breaks. Although most of the breaks are temporary, it’s important to take advantage of all that’s being offered to...
How Loan Forgiveness Works for the PPP and the EIDL Loan Programs
Now that we are in full swing of the coronavirus pandemic, small businesses across the country are trying to make sense of the CARES Act and how the relief funding can help keep their businesses afloat. One area of confusion seems to be how a business receiving...
COVID-19 Relief Funding Alternatives
As of April 16, 2020, the SBA announced all appropriations for the Paycheck Protection Program and the Economic Injury Disaster Loan were exhausted. Small business owners are now in need of COVID-19 relief funding alternatives. Below is a list of some COVID-19...
Paycheck Protection Program for the Self-Employed and Sole Proprietors
By now we have all at least heard about the Economic Injury Disaster Loan and the Paycheck Protection Program enough to know what the acronyms EIDL and the PPP stand for. Even the infamous Pandemic Unemployment Program aka the PUA has become part of our daily...
What Government Loan Program Should You Apply For?
Can’t decide whether you should apply for the Paycheck Protection Program (PPP) loan from the SBA or the Economic Injury Disaster Loan (EIDL) from the U.S. Treasury? Truth be told, many of your fellow small business owners have already turned in their applications...
Adapting Your Business to Remote Activities and Shifting Business Hours
Who would have imagined we would be in the situation we’re facing today? The coronavirus pandemic has turned our world upside down and created an entirely new definition of “business as usual.” Many entrepreneurs, including me, have had to shift their business...
Paycheck Protection Program Loan Checklist
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...
Don’t Lock Your Credit if You’re Applying for a CARES Act Loan
I'd like to do a very quick public service announcement to alert you of something that can turn into a pretty big mistake. Things are moving so quickly with the CARES Act and Coronavirus relief that I almost didn't catch it myself. If you've locked your credit...
How to Calculate Your Payroll Protection Program Loan Amount
To help small businesses keep their business going and their staff employed, the federal government passed the CARES Act, which is administered by the Small Business Administration (SBA). One of the most useful parts of the CARES Act is the Paycheck Protection...
Florida Annual Report Deadline Extended Due to Coronavirus
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...
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...
What Employers Need to Know About Sick Leave During the Coronavirus Crisis
Employers across the nation are feeling the pressure to keep their businesses up and running and profitable during the current COVID-19 pandemic. Whether you’re concerned about hunting down alternate suppliers or keeping employees and customers safe from...
A Guide to Filing a North Carolina Annual Report
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...
When Personal Liability Protection Doesn’t Work for Corporations and LLCs
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...
Do You Need an LLC or S Corp When Purchasing Rental Property?
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...
Do LLC Owners Pay Self-Employment Tax?
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...
The Advantages and Disadvantages of a Subchapter S Corporation
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 a Sales Tax License?
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...
16 Considerations When Choosing a Business Filings and Compliance Provider
Entrepreneurs cannot succeed in business completely on their own. Yes, they leverage their talent, expertise, and skills. But they also recognize when to delegate tasks and responsibilities to others with the knowledge and proficiencies they lack. For example, not...
What California’s AB 5 Means for the Gig Economy
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...
Remaining Independent Under California’s New AB5 Law
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...
Can You Change an LLC Name?
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,...
The Consequences of Noncompliance in Business
"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...
How to Start a Dropshipping Business
Statistics indicate that a third or more of e-commerce brands use dropshipping as a way to provide products to customers. If you've been thinking about starting an online store but don't want to deal with the costs and hassle of maintaining inventory, you may find...
What is a Certificate of Registration?
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...
How to Start a Business as a Kid or Teen
Starting a business as a kid or teen is exciting! With it, comes an opportunity to learn life-long skills that will help you become a successful adult. And, of course, there's the money you can earn! But how do you start a business as a kid or teen? Well,...
LLC-5 and the California Foreign Limited Liability Company
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...
How to Start a Trucking Business
If you’ve always wanted to start a trucking business, now could be the perfect time to put your plan into action. The trucking industry has an immense impact on the U.S. economy. According to American Trucking Associations, 71 percent of the freight tonnage moved...
