Startup
How To Form a Non-Profit Business
If you’re looking to form a non-profit corporation, there are several important steps for you to follow. Incorporating a non-profit corporation is often similar to a for-profit corporation, but there are some differences to be aware of. Here are some general guidelines for incorporating a non-profit. Pre-Incorporation Matters Prior to incorporation, you should have a…
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How Introverts Can Succeed As Entrepreneurs
What kinds of adjectives come to mind when you think of the word entrepreneur? You may be imagining someone that is ambitious, hardworking, enthusiastic, and gregarious in nature. Let’s go back to that gregarious part. What if you tend to be a little bit shy or timid? Can an introvert also succeed as an entrepreneur?…
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Is This Really a Business?
Small home-based businesses have been touted as the last great opportunity for tax shelter. Maybe they are, but there are rules requiring that your business actually be a business and not merely a hobby for which you bring in a little cash to help cover costs. Hobby Loss Rules A Hobby Loss is a loss…
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Building a Strong Banking Relationship
Deciding where to do your business’s banking business is an important question, affecting many aspects of your daily operations, such as business loans, deposits, and cash management. What are the steps you need to take to find the right bank and build a strong banking relationship for your business? Here are a few tips you…
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What Should Startups Do Before Transitioning to a 100% Remote Workforce?
Messaging surrounding doing business during the coronavirus pandemic is starting to turn the corner. What has continually been referred to as a “trying” and “unprecedented” time is slowly shifting into “a time like this” according to a recent survey from QuickBooks. Within the next 12 months, 72% of individuals surveyed by QuickBooks reported they are…
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What Do LLCs Need to Know About Operating Agreements?
What comes next after an entrepreneur forms an LLC for their startup? Small business owners may prioritize registering for a trademark or filing for an employer identification number (EIN) next. If you already have obtained these assets, it’s time to look into preparing an operating agreement for your business. What’s An Operating Agreement? An operating…
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Is It Time to Incorporate in Another State?
Some businesses use the summer months to kick back and relax after all their hard work in Q1. Others spend these laidback months strategizing their initiatives for the remaining year. For some startups, their next move might be to literally move—with plans to expand their business and incorporate in another state. Incorporating in another state…
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Planning Your Business
When you’re beginning a business and trying to get off to a good start, planning the details is important to get your ideas listed and organized. Sometimes there are so many ideas that beginning to prune them is important to focus on the goal. Coordinating ideas and focusing each detail in the right spot can…
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Starting a Small Business? Here’s What You Need to Stay in Compliance
As of mid-May, there has been a reported nationwide uptick in filing tax ID applications. According to Grow from Acorns + CNBC, the number of employer identification number (EIN) application filings rose 1% by May 16, 2020. This increase followed eight straight weeks of year-over-year declines during the COVID-19 lockdowns. Information in the same article…
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Consultant’s Corner: Feasibility Studies
Q: As an entrepreneur, I often have new ideas for business opportunities. What is the best way to evaluate my ideas before developing a formal business plan? In previous weeks we have discussed financial relief opportunities for small businesses, marketing and business planning measures, and changing consumer behaviors or expectations. Amid the Coronavirus (COVID-19) pandemic…
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