MyCorp’s Top 10 Blog Posts of 2013

2013 was a great year for MyCorp, and easily the best year our blog has had yet. Did you know that, so far this year, we published 308 posts? 308! We’ve always been very proud of our little business blog, and are extremely grateful to everyone out there who has taken the time to click over and read our posts and become regular readers at our site. Since we had such a productive blogging year, we thought it would be fun to look back and pick out a few of our favorite posts from 2013 – here are our top ten:

Top Ten Posts

10. Starting a Business in 2013: An Infographic
Back in June we thought it would be a good idea to take some of the more frequently asked questions we get and spin them into an infographic. Starting a business can be a very confusing process, and we wanted to make our guide as easy to understand as possible. We pared the process down to six steps, and put out a very well-received infographic to help out our readers.

9. Tax Tips for America’s Entrepreneurs
This post was actually written by our friend David Nilssen, the CEO & Co-founder of Guidant Financial. We’ve done a few cross-posts with David, but this one stands out because of how useful it is. Tax season is stressful, but by following David’s advice, it can actually be a straightforward, productive time. You just have to know how to prepare!

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5 Smart Decisions Small Businesses Need To Make for 2014

5 Smart Decisions Small Businesses Needs To Make for 2014With 2014 looming on the horizon, small businesses need to not only assess the past year’s success and failures, but also plot a path forward. Businesses that have survived a challenging 2013, or even experienced some growth, can take certain steps to ensure and improve growth in the rapidly approaching new year. Here are a few tips to help prepare your small business for success in the coming year.

1) Explore all the options your bank (and competing banks) offer small business owners. Save money and stretch your dollars by choosing the right bank for your business. End of the year is a good time to take a look at the competition and see what offers they might have that would benefit you. Look for low account and transaction fees, low or discounted loan rates, and free direct deposit, among other offers designed to help the small business owner.

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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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Experts Weigh In: End of the Year Business Tips for 2013

End of the Year Business Tips for 2013Here at MyCorporation, we’re busy prepping for the end of the year and looking forward to what 2014 will bring for small businesses and entrepreneurs. But while our prep involves helping to file delayed filings or incorporating or forming LLCs for small businesses, we’re curious to see how other companies are closing out 2013. Today, we have 24 small business professionals giving us a look at what they’re working on for their brands and their biggest business tips on how to close out the end of the year!

1. “Make a resolution to focus on one social media platform. Social media is not going away and it’s time for small business to step up.”

- Lisa McTigue, Social Media Expert, LisaMcTigue.com

2. “We are making sure all inventory is in stock and organized, all marketing materials ready to go and short lead press releases being sent to appropriate parties. We look forward to a successful holiday season!”

- Sally Goodgold, Founder, WarmTradition.com

3. “At year end, I always check in with everyone who was interested to hire us during the year but didn’t. Many times companies find “use it or lose it funds” on the books at the end of the year and if you hit the timing right, they may just reopen the conversation where you left off before and have you invoice them in December to get the found money off the books. Then you can start the new year strong with motivated clients who will return your calls fast since they have already paid you!”

- Paige Arnof-Fenn, Founder and CEO, Mavens & Moguls

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What MyCorp is Most Thankful For in 2012

We have A LOT to be thankful here over at MyCorp – it has been an awesome year, and it has been an absolute blast helping small business owners turn their dreams into an actual business. While we could go on and on and on listing all the people and groups we want to say thank you to, that wouldn’t make a very interesting blog post. Instead, we’ve narrowed the list down to our top five. Continue reading

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5 Documents You Need to Get in (Financial) Shape for 2013

While most people think of fitness goals when making their New Year’s resolutions, it’s also smart to get your personal and business financial documents in shape. After the holiday season is out of the way, it seems like tax time is right around the corner for your small business. It’s never too early to start getting your documents in order in case you want to buy a business or recapitalize your existing one. Continue reading

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Taking Your Business to the Top!

What inspires big business leaders and entrepreneurs? How do the best leaders at the top, the Donald Trumps of the business world get their drive and motivation? The beginning of a new year is a great time to get your inspiration on and grow your business. How do you do it and not lose sight of what you started along the way? These 4 tried and true tips are the ultimate to keep in mind that successful entrepreneurs everywhere use to get to the top!

1. Set Football Field Goals

Picture a football field. The goal is to run the ball to into the end zone and score, right? Along the way you hit different field markers, 5 yards, 10 yards, 15 yards and so on. You can’t get to the end without passing these markers. The same rings true with goals. What about a Hail Mary you ask? The receiver must run past and the ball must fly over each yard before they reach their destination. Continue reading

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Make Your New Year’s Small Biz Resolution Count!

It’s that time of year again. Time to make your New Year’s resolution, or resolutions. Most of us make the usual resolutions, to lose weight, save money or go to church more frequently. Personal growth goals are certainly a great idea. However, what about resolutions you can make for your business? Taking a step back and evaluating your 2011 performance can help you move successfully forward into 2012. Here are a few tips to get you started.

Start up!
If you have been thinking about starting a business, or starting another business, now is a great time to do so! Business typically picks up a great deal during the first of the year. Use this momentum to help you realize your dream of owning a small business. Take time during your holiday vacation to create a business plan. Talk to friends and other entrepreneurs who have gone through the process to help you get started. When you’re ready, give MyCorporation a call. We can help you incorporate your business making your entrepreneurial dream a reality! Continue reading

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