by Deborah Sweeney, CEO of MyCorporation.com | Featured Contributor A few months ago I wrote an article for SheOwnsIt on keeping your business in compliance, which had some broad advice on how to ensure your business stays in good standing with the state. At the end I briefly touched on respecting corporate formalities, but I […]
by Deborah Sweeney, CEO of MyCorporation.com Writing a 5-year plan is usually the very first step in the occasionally stressful but always rewarding road of business ownership. One of the biggest problems with most 5-year plans is that you are sort of flying by the seat of your pants when you write it out. Until […]
by Deborah Sweeney, CEO of MyCorporation.com I cannot begin to stress how important it is to make sure your business stays compliant with the state. Small business owners have a tendency to procrastinate when it comes to filing important paperwork and paying state fees, but if your business falls out of good standing with the […]
New business owners often ask me that question and, unfortunately, it cannot be answered with a simple yes or no. It begins when business owners hear about lower taxes and fees in other states and start to wonder if they can take advantage of that business-friendly atmosphere, even though they don’t technically do business in that state. Forming an LLC or incorporating turns a business into its own legal entity, separate from you, and it can be formed anywhere within the United States. But it isn’t simply a matter of paying Nevada to incorporate within their state, and then continuing to do business in California while only paying Nevada taxes and fees. Before you decide to form a business entity in another state, consider the following three points.
Photo by Vlada Karpovich on Pexels by Deborah Sweeney Back in 2010, Assistant Professor of Law Rodney D. Chrisman published ‘LLCs are the New King of the Hill,’ a groundbreaking study on the popularity and growth of the limited liability company, in the Fordham Journal of Corporate and Financial Law. The LLC structure is […]
Look around your office.
Are you happy with what you see? Or does it look like your business needs a facelift?
Human beings are creatures of habit. We like what we know, and try to avoid needlessly upgrading or changing what we are used to – after spending weeks learning the ins and outs of Microsoft Office ’97, why would you ever want to upgrade? But as technology is constantly evolving through software programs and apps, eventually you’ll have to upgrade from the obsolete software suite installed in all of your company’s computers to a more compatible, updated version. The same goes for the shag carpeting that came with your office building, or company website that hasn’t been updated in five years. Finding a suitable vendor for these needs is an integral part of keeping your business up-to-date, but how do you choose the right one?
Running MyCorporation has been one of the most exciting and fulfilling experiences in my life. I love having my own business, being able to watch it grow and develop – it’s like having a third child, minus the screaming and diapers. My experiences with MyCorp are also why I always encourage anyone with a good idea to take the plunge and become an entrepreneur. Unfortunately it isn’t as easy as saying “All right then!” and filing some paperwork – business ownership brings about plenty of apprehension. My encouragement is typically retorted with a quick “Well, what if I get sued?” or a “But what if I never make it off the ground?” These are serious concerns, but there are ways to help beef up the legal protection around yourself, your family, and your assets.
