A Woman Who I Admire

A Woman Who I AdmireBy Benjamin Sweeney

Over half of the people in the world are women. There are so many women who I admire, including my two grandmothers, my teacher, and my aunts. There is one special woman who I admire most. That special woman is my mom, Deborah Sweeney. Some of the reasons I admire my mom include her intelligence, her kindness, her hard work and her great attitude.

My mom is a very smart person. She helps me with my homework when I am having trouble with it. My mom also helps me with my after school class, Kumon. Even though the questions that she helps with are hard, she makes it look easy. My mom also went to great colleges including UC Irvine and Pepperdine and she owns a big company.

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50 States of Incorporation: Utah

incorporate in UtahAs one of the states that comprises the Four Corners (along with Arizona, New Mexico, and Colorado), the advantages that come when one decides to incorporate in Utah are plentiful.

Nicknamed the Beehive State, Utah has been nationally ranked within the top three states in the country as the best states for business, according to Forbes. The state’s biggest industries include mining, cattle ranching, salt production, government services, and tourism, the latter of which notably rose after the end of the 2002 Winter Olympics. Major companies including Overstock.com, 1-800 Contacts, Ancestry.com are all headquartered within the state as well and Thumbtack.com gave Utah an A+ in the overall friendliness and ease of starting up a business that Utah provides.

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Experts Weigh In: I’m a Twentysomething Entrepreneur

Experts Weigh In: I'm a Twentysomething EntrepreneurLast week, we took a look at 10 teen entrepreneurs who told us about their experience getting started with their own business. This week we’re talking to our panel of 40 twentysomething entrepreneurs on being fearless, driven, and energized when it comes to running their own businesses and building up their brands!

1. “The best thing about it is that all my friends constantly complain they’re shackled to their desks in jobs they absolutely hate. I get to meet a wide variety of interesting clients on a daily basis and implement my own ideas whenever I want. I work on my own terms, doing what I love. I love what I do every single day -­ you can’t put a price on satisfaction in your work life.”

- Nick Whitmore, 24, Managing Director, contentwriter.co.uk

2. “I think the best part about being an entrepreneur at my age is the opportunity to build my own legacy. I don’t have that complacency or false sense of security other people my age have when you’re getting a fixed salary at the end of the month. There’s a fire under me every morning! I work from home & I’m in control of my own time and I can fully enjoy work and spending time with my baby girl.”

- Ruth Noel-Samaroo, 25, Online Accounting Specialist, Noel Bookkeeping

3. “I’ve been living from my ventures for the past 4 years now, grown one of them to up to 30 employees and loved every moment of it. The thing I like the most about it is the complete freedom you have both in location and the way you schedule your day.”

- Gael Breton, 20s, Co-Founder, Copycog.com, Health Ambition, Authority Hacker

4. “#RAWR: The best part about being an entrepreneur while being in your 20′s is the understanding that you have more time than most current successful entrepreneurs. Time is life’s most important aspect and time can allow you from one day being good, to one day being great!”

- Johnathan Grzybowski, 20s, Marketing Director, Dino Enterprise

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What Goes into an Operating Agreement?

Operating agreements are one of the most vital, and overlooked, tools in running a limited liability company. We’ve actually covered operating agreements as part of our ‘ABCs of MyCorp’ series, but we never delved into what an operating agreement should actually say. operating agreement As a quick refresher, an operating agreement is essentially a document that defines how the LLC will be run, and the SBA recommends that every LLC draft one. The trouble is that only a couple of states, like Missouri and New York, legally require new LLCs to have an operating agreement. But without the rules, structure, and regulations an operating agreement provides, your LLC could be in serious trouble if partners disagree, a member wants to leave, or if the state starts questioning the validity of your LLC. Operating agreements are also pretty easy to draft and only need to cover a few key areas.

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Entrepreneurs of All Ages (Infographic)

What roles do entrepreneurs play in the future of business? Here at MyCorporation, we’re taking a closer look at entrepreneurs of all ages, especially young entrepreneurs, in our latest infographic as we examine the ages small business owners are when they first get started, their education background, and just how many businesses comprise our current economy.

Entrepreneurs of All Ages

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50 States of Incorporation: Texas

This week we are looking at Texas – the Lone Star State. As the saying goes, everything is bigger in Texas. The state has successfully accommodated changes in the economy and US consumption – though it was originally a cattle state, oil rich land and a strong infrastructure has turned the cowboy state into one of the economically diverse states in the USA. Incorporate in TexasIn their Best States for Business survey, Forbes ranked Texas at #7 with the state’s economic climate in first place and most analysts also expect Texas to see some serious growth in the next few years. If you’ve ever wanted to start a business, Texas is a great place to do it. But how hard is it to start a business, form an LLC, or incorporate in Texas?

What do you need to start a business in Texas?

Surprisingly little! Some states require sole proprietorships, which are the simplest type of business entity, to register before they do business. All Texas requires is that the sole-proprietorship’s owner file an ‘Assumed Name Certificate,’ also known as a ‘Doing Business As’ name, with the County Clerk. Depending on where you plan on doing business, and what sort of business you run, you may also need to file for a business license – the Small Business Administration has a handy tool to help new business owners figure out exactly what they need on that front!

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What is a Foreign Corporation?

The term ‘Foreign Corporation‘ sometimes confuses people. Though it can also refer to a corporation from a different country, when business advisers refer to a Foreign Corporation or LLC, they are usually talking about a domestic company with permission to operate in a state other than the one the company was formed in. This permission is often called a ‘foreign qualification,’ Foreign Corporation and it effectively registers your company with the new state so the state can collect taxes. With it, you can open up another branch of your company, or move your base of operations, without changing states. But why would a business want to do that?

Why would you want a foreign qualification?
There are a few reasons why a business chooses to qualify as a foreign entity in other states. One of the main ones being that the company simply wants to expand its operations – sales could be strong in their home state, and they figure they’ll take a crack at opening another store or office in a neighboring state. Since you need permission to do business in another state, they pursue a foreign qualification. However, some business owners also believe that they may save money on taxes by forming a business in a state like Nevada or Delaware, and then qualifying in the state they actually do business in. There are pros and cons to incorporating in another state, so be sure to weigh your options carefully.

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Celebrate Earth Day with Mycorp’s Best Posts on Benefit Corporations!

Happy Earth Day everyone! This year marks the 44th annual celebration of Earth Day, and we’ve all made a lot of progress towards becoming more environmentally friendly. In fact, according to Reader’s Digest, 1 out of every 3.3 Americans considers themselves environmentally conscious, and 1 out of every 2.3 Americans recycle. Benefit Corporation Though some have considered the environmental movement to be just a fad, it is clear that many more of us are concerned with the impact we have on the environment.

With the arrival and recognition of Benefit Corporations, even corporate law is changing to accommodate our growing environmental and social consciousness! Benefit Corporations are for-profit companies that wish to pursue a social and environmental mission, even if that mission cuts into their profit. We here at MyCorp are huge fans of B-Corporations, and to celebrate Earth Day we thought it’d be fun to take a look back at some of our blog’s most interesting, and informative, Benefit Corporation-related posts.

  • Never heard of a Benefit Corporation? MyCorp released a handy infographic to help explain the background of Benefit Corporations, and why they are such an important new entity.
  • If you’re looking for creative ways to further your environmental mission, our guest blogger Kristina Jackson was kind enough to give us her 7 tips on how to further your green agenda through social media.
  • Trying to figure out if your business can go green? Check out this post by guest writer Clint Robertson on the 6 unlikely industries entrepreneurs can go green in!
  • If a Benefit Corporation sounds like something you are interested in, we can help get you get it set up and running. Our CEO Deborah Sweeney even wrote a post on how to run a Benefit Corporation!
  • Even if you’re not ready to commit to running a Benefit Corporation, you can still work to do your part and reduce your impact on the environment. Our guest blogger Kandace Heller recommended six ways you can reduce your business’s waste.

Have any questions about Benefit Corporations? Thinking about forming your own? Leave a comment below, or give us a call at 1-877-692-6772, and we’ll be happy to help you out!

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FREE Incorporation or LLC Formation! Today Only!*

If it’s April 15th, it must be Tax Day. Not exactly the most exciting day on the calendar. But what if we told you that, for today only, we would help you form your own LLC or incorporate FOR FREE!

incorporate for free

Today marks MyCorporation’s third year running offering new entrepreneurs the chance to form an LLC or incorporate for free! All you have to do is use the coupon code MYFREE at checkout, and you’ll get our basic $69 LLC or Corporate Formation package for free – all you have to pay are the state fees!

As many of you may know, incorporating your business or forming an LLC comes with plenty of benefits. Not only can the right business entity help you save on taxes, but incorporation and LLC formation both add an extra layer of protection to your personal and professional assets, and gives your business an added air of legitimacy.

Normally priced at $69, our basic bundle includes an incorporation or LLC with a name check, document preparation and filing, a free domain name, annual report and registered agent services, and QuickBooks Simple Start! So if you’ve ever thought about starting an LLC or corporation, now is your chance to form an LLC or incorporate for free!

Remember that the coupon code for the Free Day promotion is MYFREE. Visit MyCorporation.com between 12 AM PST to 11:59 PM PST on April 15th and get started by answering a few simple questions about your business. MyCorporation customer care representatives will also be available from 6 AM PST to 6 PM PST on April 15th. Just give us a call at 1 (877) 692-6772!

*’Free Day’ offer only redeemable on April 15th, 2014, between 12 AM PST and 11:59 PM PST. Offer is solely for MyCorporation’s Basic Incorporation or LLC formation package, normally priced at $69. One offer redeemable per customer. Customer retains responsibility for paying any applicable state and federal fees.

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50 States of Incorporation: South Carolina

This week on 50 States of Incorporation, we take a look at ‘The Palmetto State,’ South Carolina! Also know as ‘The Rice State’ and ‘The Swamp State,’ South Carolina’s official nickname comes from the state tree, the Sabal Palmetto, which distinguished itself during the revolutionary war. It was a fort made of Palmetto logs that repulsed the British fleet from Sullivan’s Island back in 1776! incorporate in South Carolina But South Carolina has a lot more to offer than strategically useful flora. Though it was hit hard by the recession, its strong agricultural heritage, and the state’s friendly attitude towards business, has really boosted its recovery. So what should South Carolinian entrepreneurs know about their state? And what does it take to open up a business and incorporate in South Carolina?

Are there any benefits to running a business in South Carolina?
Plenty! South Carolina is actually one of the most business-friendly states in the USA. Thumbtack gave the state an A- in overall friendliness, and South Carolina has the tenth lowest tax burden of all states. It also makes sense to incorporate in South Carolina as the state boasts a low, 5% flat corporate income tax rate. Of course, South Carolina does all it can to help small businesses within the state. The South Carolinian Secretary of State’s office maintains a Small Business One-Stop Site to help new entrepreneurs find and file for everything they need to get their business up and running, and the Department of Commerce is proud to offer multiple growth incentives to businesses with the state.

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