What Is a Corporate Resolution?

What Is a Corporate Resolution? A corporate resolution is an internal document that records important decisions made by a corporation’s board of directors or shareholders. Resolutions are used to record and confirm major decisions made by the company and can be used to ratify past actions or pre-approve future ones. Unless otherwise stated in the bylaws, […]

Comparison of Business Entities

A business entity (sometimes referred to as the business structure or legal structure) is the basic foundation of starting a business.  The business entity is basically how a business is legally organized to do business. There are four primary business entities to choose from, which include the sole proprietorship, partnership, corporation, and LLC.  Each type […]

Can I Use the Same EIN for Multiple Businesses?

You started a business, and things went really well, and you decided on starting another business, or perhaps you have a couple of business ideas you want to run with from the beginning.  When talking about having multiple individual businesses, one question that often needs to be answered is whether the same Employer Identification Number […]

What is a Reasonable Salary for an S Corporation?

  There are many options for organizing your small business when you’re first starting out, but electing S Corporation status may help save money on taxes. This article will explore how. What’s an S Corporation? Let’s start with defining an S Corporation and how it is taxed. An S Corporation, Subchapter S Corporation, or S […]

What is Double Taxation?

What is Double Taxation? Double taxation is a tax principle under which an individual or business pays income taxes twice on the same asset, financial transaction, or income source. The term double taxation refers to the multiple layers of tax imposed by subchapter C of the Internal Revenue Code. Under subchapter C, a company’s income […]

Can I Be My Own Registered Agent?

When starting a new business, looking for ways to save money should always be considered carefully. In some situations, saving money upfront is not always worth it. And bootstrapping today could cost you hundreds of thousands of dollars down the road.  Yes, acting as your LLC’s registered agent (called a statutory agent or resident agent […]

How to Sign on Behalf of your Limited Liability Company or Corporation

One of the benefits of forming an LLC includes a clear legal separation between you and your business. This means you’re not personally liable for debts, legal claims, bankruptcies, etc. that occur within your company.  However, incorrectly signing documents can void that liability protection leaving you and your personal assets vulnerable. And if you’re not sure how […]

Why Your Business Shouldn’t Commingle Funds

Why Your Business Shouldn’t Commingle Funds Many business owners consider their business an extension of their life. To this type of business owner, there is little to no difference between work and play because they enjoy what they do on a daily basis. If that sounds like you, there’s absolutely nothing wrong with that until […]

Entity Comparison Table

Free plan offers a lot of value (state filing fees still apply) Lifetime customer support Free registered agent in the first year Free 1-hour tax consultation Learn More Read the full review best value Free plan offers a lot of value (state filing fees still apply) Lifetime customer support Free registered agent in the first […]

Pros and Cons of 5 of the Most Popular LLC Formation Services in 2021

Starting a new business means getting lost in paperwork and scratching your head as you work your way through heaps of legal jargon trying to understand what you actually need to build a strong (and legal) foundation.  It’s no secret you’ve got a lot on your plate.  So, outsourcing your LLC formation process is an […]