7 Steps for Simple File Management

7 Steps for Simple File ManagementFile management may be one of the most mundane tasks when it comes to administrative duties, but properly organizing and storing documents and files will save a lot of time and manpower in the workplace. Occasionally you may need to retrieve a large number of files to check back on records if problems come up or to file a tax return, and being able to locate those files as soon as possible will help you to complete the task quickly and easily. The following tips will help you to effectively manage your files.

1) Keep Personal Expense Accounts Separate from Business Accounts

Personal expenses are not currently tax deductible, so you can save yourself time in the future if you keep all personal expense records separate. What exactly constitutes as a personal expense can sometimes fall into a grey zone, but an accountant should be able to help you out with extra advice.

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Business Basics: Delayed Filings

Delayed FilingDelayed filings aren’t the most popular business-related topic, but pursuing a delayed filing can actually be very beneficial to a new small business. When you opt for a delayed filing, you essentially put your business’s paperwork on hold. So if you, for example, have decided to form an LLC, you can actually ask the state to not start the approval process until later in the year. And while it may seem counterintuitive to ask the state to sit on your paperwork, and effectively put your business plans on hold, delayed filings can save you a bit of money and time when it comes to your start-up.

Money saved

‘Nothing is certain in life but death and taxes,’ and the minute your business springs to life, you are liable for all sorts of taxes and fees. If you opt to start your business before the end of 2013, you’ll have to collect, report, and pay taxes for 2013, even though your business was around for less than a month. Delaying recognition also means you could avoid the annual reporting fee for your state for 2013, possibly saving you hundreds of dollars.

Time saved

January is one of the busiest months for government agencies. It is when they begin to work their way through the backlog of paperwork that inevitably accumulates at the end of the year, and year after year I’ve received notices from state agencies all across America regarding a backlog that won’t be surmounted for weeks. A delayed filing will, however, help you avoid that backlog because most states place delayed filings in a priority queue. So after all of the time-critical filings are handled, the state moves directly into approving delayed filings. By opting for a delayed filing, you can avail of all of the benefits of filing in the new year, and avoid the January rush.

Should you opt for a delayed filing?

It really depends on the needs of your business. I’ve always recommended forming a Limited Liability Company or incorporating as soon as possible but, when you do so at the very end of the year, you could get stuck paying annual taxes and fees for the right to operate your business in December. Every state is different, but most will allow you to push your filing date at least thirty days into the future. If you expect your business to be around for a while, and I certainly hope you do, choosing a delayed filing will simply mean operating as a sole proprietorship for one more month before the protection of an LLC or Corporation kick in. If you want to save some time, and possibly quite a bit of money, consider a delayed filing when sending your paperwork into the state.

Would you like to learn more about delayed filings? Or are you ready to form your own LLC or Corporation? Give us a call at 1-877-692-6772 and we’ll be more than happy to help you out!

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Business Basics: ‘Doing Business As’ Names

A ‘Doing Business As’ name is one of the most important parts of a business, but far too often we hear about businesses choosing to put off filing for a DBA until they are a bit more established. Unfortunately this leaves those companies open to all sorts of problems later on as a DBA name is needed for some of the most basic aspects of running a business! But what exactly is a ‘Doing Business As’ name? And why do businesses need to file for one?


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Q is for Foreign Qualifications

We’re onto one of the trickier letters of the alphabet today in our ABC’s of small business segment, but it couldn’t be paired better than with the foreign qualification which answers the question of what a small business should do if they want to legally operate their business in a state that may not be the same one they created the formation in.

Foreign qualifications break down a little like this. If a business wants to operate outside of the state that they formed a formation with, they need to register their business as a foreign corporation in order to obtain that kind of authority. And in many cases, this is a requirement, especially if your company expects to transact business outside of the state lines that they were formed in.
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F is for Filing Deadlines

Deadlines are definitely a necessary evil – no one likes to feel the pressure of a deadline on their back but without them, we would procrastinate. And procrastinate. And procrastinate. This week on our ABC’s for small business blogging segment, F is for filing, and meeting, deadlines.

We need a bit of a push if we ever expect to get anything done. And, for many, that “deadline” is the end of the year. It’s a simple enough deadline, and gives you 364 days of wiggle-room. We hear from a lot of people that say they want to start a business by the end of the year. They have an idea, they have a plan, and they just need to actually get that paperwork filed and their business opened. So they put it off, month after month, because they gave themselves until the end of the year. Continue reading

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A Little Bit of Tax Relief, Courtesy of MyCorporation!

We weren’t planning on releasing our big April 17th news until today, but the LA Examiner beat us to the punch. Oops!

Feeling the pinch from paying Uncle Sam? We can help!

But in case you haven’t heard, we’re dubbing this April 17th our version of Tax Relief Day! On April 17th for one day only, we’ll be providing some much-needed tax relief by offering FREE incorporation bundles! This promotion is for our $49 incorporation package, and will be active between 12:01 AM and 11:59 PM. Just pay the state fees, and we take care of the paperwork for free!

Incorporating or forming an LLC is one of the best ways to help your company save on taxes, and helps protect your own personal assets, which makes filing on Tax Day perfect for your small business.

Your $49 incorporation bundle will include:
•       An incorporation or LLC (with name check, document preparation and filing included)
•       Free domain name from Network Solutions
•       QuickBooks Simple Start
•       Accountant consultation from 1800Accountant
•       And more!

Questions? Call us at 1 (877) 692-6772 from 5 AM to 5 PM PST!

And help us spread the news online! Tweet us @mycorporation with the hashtag #myfree and visit us on Facebook!

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Leap Year Special! $49 DBA's with MyCorporation!

Doing business under a name different from your legal business name? You’ll need to file a DBA for that- and MyCorp’s team of business filing experts are here to help! Today Wednesday February 29, 2012 is our one-day special on half-off prices for DBA (Doing Business As) Fictitious Business Name filings from our regular price of $99 to $49 from 12am to 11:59pm PST. No coupon code necessary.

Visit us today for our one-day only deal!

For more information on how a DBA works and the benefits of filing for one, check out our official DBA FAQ page!

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