Videos uploaded by user “Nevada Corporate Headquarters”
Nevada vs. Delaware Corporations -- 60 Second Business Tip
http://www.nchinc.com/ Nevada vs. Delaware Corporations Many people often ask about the comparisons between Nevada and Delaware when it comes to incorporating a corporation or forming an LLC. Right now, Nevada and Delaware are the most talked about types of incorporation or LLC formation states. They are the popular states for incorporating. Yet Nevada is also often the number one state to incorporate in. So, what's the difference? Delaware and Nevada Incorporations are certainly not the same. Did you know that: • The state personal income tax in Delaware is about average, but Delaware's state corporate tax is quite high at 8.7%. • Nevada has no personal income tax, franchise tax or corporate state income tax. Delaware's corporate tax law puts the state at 48th on the Tax Foundation's Corporate Tax Ranking Index. • The state of Delaware requires that places or operation outside of the state be disclosed. • Nevada's Privacy laws are significantly stricter than Delaware's. It is almost impossible to get information about the owners/shareholders of a company incorporated in Nevada. In Delaware, it is public information. Call Nevada Corporate Headquarters, Inc., at 1-800-508-1729 to learn more about how we can help you incorporate your business today!
Non-Profit Corporation Advantages -- 60 Second Business Tip
http://www.nchinc.com/ A non-profit corporation is a company or organization formed for purposes other than making a profit. Like standard for-profit corporations, non-profits provide limited liability protection. The personal assets of directors and officers typically cannot be used to satisfy the debts or liabilities of the non-profit. Non-profit corporations are formed pursuant to different state laws than standard for-profit corporations, but the process of forming a non-profit is very similar. Non-profit corporations offer several benefits such as: limited liability protection, access to grants, tax-exempt status and tax-deductible donations. For tax purposes, the non-profit corporation must be formed for religious, charitable, scientific, educational or literary purposes in order to claim the non-profit tax-exempt status. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Why You Need an EIN -- Small Business Tax Tip
http://www.nchinc.com/ If you operate a business the IRS requires you to obtain an Employee Identification Number or EIN, which is also referred to as your business tax ID number. Each EIN is unique in the same way that your Social Security number is. The number allows the IRS to identify your business and requires you to provide it on all of your tax documents and forms. You need an EIN for your business that employs workers, withholds taxes on the wages and salaries it pays or you operate the business as a corporation or partnership. An EIN number is also necessary for estates, trusts and non-profit organizations, to name just a few. Keep in mind, an EIN is your company's unique tax payer identifier. Your personal social security number should never be used in relation to your businesses affairs. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
C-Corporations -- 60 Second Business Tip
http://www.nchinc.com/ C-Corporations For tax purposes, there are two different types of corporations: a C Corporation and an S Corporation. C corporations have different tax rates than individuals. In many instances, C corporations will pay less in tax than an individual. They also have no limitations on shareholders. Shareholders can live anywhere in the world and be any type of entity. C corporations will give you greater flexibility and are recommended for many small start ups. One concern when using a C corporation is double taxation. S corporations allow the profits and losses of a corporation to flow directly through to the owners or stockholders of the corporation. All of this takes place without taxation at the corporate level, thereby eliminating the potential for double taxation. Double taxation of a C corporation occurs when the corporation has its profits taxed initially, and then the dividends paid out to shareholders are taxed again on the personal level. Eliminating or deferring profits through proper financial management can easily deal with double taxation. Call a Nevada Corporate Headquarters representative today at 800-508-1729, to learn more about whether a C Corporation is right for you.
How to Form a Nevada LLC
Did you know there are more LLCs being filed in the State of Nevada than corporations? It makes sense since Nevada Limited Liability Companies, more commonly referred to as an LLC, offers asset protection, tax advantages and a formal entity structure for raising capital. While on your way to forming a Nevada LLC, it’s essential to know which naming, formation requirements, forms, and fees are necessary for your small business. Let’s walk through it together ... First, you need a business name. Your company business name must be distinguishable from other LLCs. If you use words like Bank or licensed professional names, such as Doctor or Engineer, it will definitely require more paperwork. Be sure your business name doesn’t create confusion of Federal or State Agency affiliation like FBI, or Treasury. Research your name thoroughly and make sure it’s available for successful marketing on all platforms, domain name and online outreach. Second, submit your paperwork. You’ll file the Articles of Organization, then you’ll file your Initial List of Managers and Members with the Nevada Secretary of State. There is a nonrefundable $75 fee for filing the Articles of Organization, and a $200 fee to file the Initial List of Managers and Members. Be sure to check with the Secretary of State for the most current fees. Next you’ll need to select a registered agent. A registered agent is a third party you designate to accept legal documents for your business, as well as any notifications from the state or other entities. The registered agent must be located in Nevada. They will accept all official documents on behalf of your LLC and then forward them to you. The registered agent’s location will be your company's official address. This gives you scheduling flexibility, liberty, and assurance that you’ll never miss a legal document. Finally, you’re ready to get your Nevada business license. It takes a few business days for the Secretary of State to process all the submitted forms and fees, unless you pay more for expedited service. And after the forms are processed, make sure to grab your employer identification number, also known as an EIN. An EIN is free and will allow your company to open a business bank account, file Federal and State taxes, and hire employees. You can apply online for an EIN or mail the form once completed. Now your business is on its way to success with the protected privileges of being a Nevada LLC. To learn more, contact a Nevada Corporate Headquarters representative at 1-800--508-1729 http://www.nchinc.com/
NV vs. CA -- 60 Second Business Tip
http://www.nchinc.com/ NV vs. CA Many people often ask about the comparisons between Nevada and California when it comes to incorporating a corporation or forming an LLC. Though California has a powerful economy, it can be an expensive place to start a business. California's State Corporate Income Tax is one of the highest in the nation at 8.84%. Nevada has no State Corporate Income Tax at all. California provides no guidance as to how a court should weigh activities that have resulted in the piercing of the corporate veil, which leaves your business open to broad interpretation. In the attempts to pierce a corporate veil in California, 45% are successful, which is the highest success rate in the country. California has a statue that provides protection to corporate officers and directors only when three factors are present: - That the person is being sued because they represented the corporation - That the person acted in good faith, and in the best interests of the corporation, and - The person is successful on the basis of the lawsuit Call Nevada Corporate Headquarters, at 1-800-508-1729 to learn more about how we can help you incorporate your business in Nevada today!
How To Form a Corporation in Nevada
How to form a corporation in Nevada When you understand that Nevada offers some of the best incentives for business tax breaks and liability coverage, your first question might be, how do I form a corporation in Nevada? Well, let’s take a moment to walk through these steps. First, you need a name. If you choose a personal name or initials as your corporation name, you’ll need to attach some variation or abbreviation of Incorporated, such as "Inc.," "Company," or "Corp.," This identifies the organization is a business and that it is separate from you as a natural person. Your corporation's name must be distinguishable from the names of other business entities already on file with the Nevada Secretary of State. You can check the name availability with the Secretary of State’s business name database. During the process of forming a corporation, you can reserve a name for 90 days by filing a Name Reservation Request form with the Nevada Secretary of State. You can file this application online or via standard mail. The filing fee is $25. Next, you’ll need to prepare and File Articles of Incorporation. Legally your corporation is created when Articles of Incorporation with the Nevada Secretary of State are filed. The articles must include the corporate name and address; the name, address, and signature of an agent for service of process; the number of shares the corporation is authorized to issue; the names and addresses of the board of directors; and the name and address of the incorporator. The registered agent must complete and sign a certificate of acceptance, which is included with the Articles of Incorporation form. You can file the articles online or by mail. The filing fee is based on the number of shares the corporation is authorized to issue, with a minimum fee of $75 for 75,000 shares or less. Approximately one month after you file your Articles of Incorporation, you must file an Initial List of Officers, Directors, your Registered Agent and State Business License Application with the Secretary of State. The initial list fee is $125. Forms are mailed to you upon the organization of your corporation. A very important step is appointing a Registered Agent. Every Nevada corporation must have an agent for service of process in the state. This is an individual or corporation that agrees to accept legal papers on the corporation's behalf. The registered agent must be a Nevada resident, or a business entity authorized to do business in Nevada. The registered agent must have a physical street address in Nevada. The agent should agree to accept service of process on your corporation's behalf prior to becoming your agent. After you have your registered agent, be sure to set up a Corporate Record Book. Your corporate records book will store all of your corporation's important papers, including minutes of director and shareholder meetings, stock certificates, and stock certificate stubs. Keep your corporate record book at the principal office of your corporation. Now you’ll need to prepare Corporate Bylaws. Bylaws are an internal corporate document that set the basic ground rules for operating your corporation. These aren’t filed with the state, but Bylaws are used to organize the company’s internal management, establishing the rules and responsibilities for shareholders, directors and officers. Now you’re ready to hold your first Board of Directors Meeting. At the first meeting, directors can appoint corporate officers, adopt bylaws, select a corporate bank, authorize issuance of stock, set the corporation's fiscal year, and adopt an official stock certificate and corporate seal. You must record the directors' actions in corporate minutes prepared by the incorporator or any of the directors. Following your first meeting, you’ll issue Stock to each shareholder. Enter each shareholder's name and contact information in the corporation’s stock transfer ledger. Lastly, grab your Employer Identification Number, so that you can file business taxes on time. Now you’re on the way to building a successful business with the protected privileges of being a Nevada corporation. To learn more, simply contact Nevada Corporate Headquarters at 1-800-508-1729 http://www.nchinc.com/ To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
LLC: Members vs. Managers -- 60 Second Business Tip
http://www.nchinc.com/ There are two primary titles that come with a Limited Liability Company, also known as an LLC, they are Members and Managers. Ownership in an LLC is represented by membership and an owner is titled a Member. There can be an unlimited number of Members in an LLC, and a Member does not have any unique role or responsibilities in the operation of the business. The Manager of an LLC is the title given to the individual that runs the affairs of the business entity and generally the business itself. The Manager is generally considered synonymous with the title of President of the corporate structure. The Manager of the LLC would be the one that the public would deal with and who is a contact person for the business. In an LLC with multiple Members, the majority Member often times becomes the Manager of the LLC. To learn more about the difference between Members and Managers, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Judgement Proof Your Corporation -- 60 Second Business Tip
http://www.nchinc.com/ Judgement Proof Your Corporation Judgment-proofing your corporation means protecting assets within the corporate structure. Judgment-proofing can protect the corporation, yourself, or both. The strategies can involve multiple corporations or just one. In today's world, lawsuits destroy businesses and lives everyday. To limit exposure and protect your assets it is no longer optional; it is a necessity to plan ahead. One of the main reasons business owners choose to incorporate is to avoid liability that would expose their personal assets to risk based on business activities. Within the corporate structure, personal assets are separated from the liability of the corporation and, likewise, corporate assets are protected from personal liabilities. Despite the effectiveness of the corporate vehicles, attorneys do not cease to attack. In fact, corporations are increasingly targeted for lawsuits today. Attorneys assume that corporations have assets and are therefore worthy of pursuit. Judgment-proofing your corporation is one way to prepare for the future. To learn more about judgment-proofing and starting a Nevada Corporation, call an Nevada Corporate Headquarters representative today at 800-508-1729.
Corporation vs. LLC - Nevada Corporate Headquarters
http://www.nchinc.com/ Hi, I'm Cort Christie, Founder of Nevada Corporate Headquarters. A Corporation or Limited Liability Company is a self-sufficient legal entity, created separately from those who own and operate it. The entity separates a businesses debts, taxes and liabilities from its owners thereby offering the greatest tax savings and personal liability protection versus all other business structures. And, because the corporation continues to exist even after the death of a shareholder, it offers tremendous estate planning advantages. So what is the difference between a Corporation and an LLC? The classic corporation is the most dynamic and flexible business entity offering tremendous advantages that generally outweigh those of all other business structures. The corporation is an autonomous legal entity, created separately from those who own and operate it. The entity separates a corporation's debts and taxes from its owners there by offering the greatest personal liability protection of all business structures. Corporations possess most of the economic powers that any person would: they can own property, sue in court, sell or transfer property, and more. Plus, because the corporation continues to exist even after the death of a shareholder, it offers tremendous estate planning advantages. Limited Liability Companies are a hybrid of a corporation and a partnership. They protect the owners and operators from personal liability similar to a corporation, and they possess the "pass-through" tax benefits of a partnership. The LLC structure can be used to hold property and transact any type of business. An LLC passes all of its profits and losses directly to the owners of the LLC. Individual owners are therefore taxed at their personal tax rates. Additionally, Nevada statutes only require one individual or legal entity to form an LLC. To find out more about which business entity is right for you, please contact a Nevada Corporate Headquarters representative today at 1-800-508-1729. We look forward to helping you and your business.
Internet Sales Tax -- Small Business Tax Tip
http://www.nchinc.com/ If you are selling goods or products online, you need to be aware of Internet sales tax rules. If your business has a physical presence in a state, such as a store, office or warehouse, you must collect applicable state and local sales tax from your customers. If you do not have a presence in a particular state, you are not required to collect sales taxes. Keep in mind that not every state and locality has a sales tax. Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon do not have a sales tax. In addition, most states have tax exemptions on certain items, such as food or clothing. If you are charging sales tax, you need be familiar with applicable rates. Determining which sales tax to charge can be a challenge. Many online retailers use online shopping-cart software services to handle their sales transactions. Several of these services are programmed to calculate sales tax rates for you. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
LLC Tax Filing Rules -- Small Business Tax Tip
http://www.nchinc.com/ Immediately after you create a Limited Liability Company, or LLC, the IRS automatically treats your business as a partnership, but only for income tax purposes. LLCs that are subject to the partnership tax rules are not responsible for actually paying the tax on business earnings, but are responsible for preparing annual partnership tax returns on IRS Form 1065. However, if you are the sole owner of the LLC, then you must pay tax on business profits as if you were a sole proprietor. If you prefer the tax filing rules of a corporation, then you have the option to elect corporate tax treatment by filing IRS Form 8832 or Form 2553 to be taxed as an S Corporation. As a result, the business is solely responsible for reporting all income and deductions on Form 1120 or 1120S each year and paying the appropriate income tax by the deadline. Keep in mind, once you make this election, you cannot change the LLC designation again for five years. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
What Tax Forms to File as a First-Time Business Owner -- Small Business Tax Tip
http://www.nchinc.com/ As a new business owner, taxes are probably the last thing on your mind. But since there's no getting around them, here is some basic information about the forms you'll need to file as a new business owner. In general, the form you must use to file your business taxes is determined by the type of business you have organized. Some business owners choose an LLC that has a lot of flexibility when it comes to filing taxes. They can be taxed like a sole proprietor, partnership, or even like a corporation. If you are the only member of your LLC, then you will be automatically treated like a sole proprietor. Most multiple member LLCs will be treated like a partnership. If you intend to be classified as an S Corporation, you need to complete Form 2553. If you are organized as a C Corporation or S Corporation, you should file a Form 1120 or Form 1120S, respectively. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
SBA Patriot Express Loan -- Business Funding Tip
http://www.nchinc.com/ The SBA's Patriot Express Pilot Loan Initiative extends loans to veterans and members of the military community wanting to establish or expand a small business. Similar to the Express Loan, the Patriot Express loan offers less paperwork to the lender and a fast turnaround time. Unlike other SBA loan programs, the Patriot Express Loan can be filed electronically through your lender. Only veterans, active-duty military, reservist, National Guard members, or a spouse or widow of any of these groups are eligible for this loan. Loans can be up to $500,000 and it can be used for both existing and new businesses. This loan is great for start-ups, expansion, equipment purchases, working capital, inventory or to purchase real estate. To learn more about the SBA Patriot Express Loan, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Tax Implications of a LLC -- Small Business Tax Tip
http://www.nchinc.com/ A Limited Liability Company or LLC, is a hybrid type of legal structure that provides the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership. The profits and losses pass directly through to shareholders, thus avoiding the potential double taxation of a corporation. LLC members report profits and losses on their personal federal tax returns, just like the owners of a partnership would. The main benefit is that an LLC also protects the owner and partners from liability for the business's debts and actions. Note that an LLC is not a tax entity itself; rather, it allows the owner to choose which tax entity is preferred. From a practical standpoint, however, there are limited situations where an LLC would choose to be taxed as a corporation. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Partnership Agreement -- 60 Second Business Tip
http://www.nchinc.com/ A Partnership Agreement is an accord or contract between two or more persons or entities, engaged in a business for profit. The agreement identifies the parties, location of the formation of the partnership, as well as the venue for disputes. General partnerships assume that profits, liabilities and management duties are divided equally; however, partners may elect an unequal distribution which may be spelled out in a partnership agreement. A Partnership Agreement may additionally contain a non-compete agreement for retiring or departing partners. Furthermore, a Partnership Agreement should be used in conjunction with an official Buy/Sell Agreement which may aid and/or assist in the dissolution of the partnership or the preservation of a partnership in the event of a death or divorce. To learn more about partnership agreements, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Start-up Cost Tax Deductions -- Small Business Tax Tip
http://www.nchinc.com/ Did your business incur expenses before you were technically “open for business”? Did you know that you can write off some of these expenses against your business as soon as you are operational? You may deduct up to $5,000 in start-up costs in your first year in business. This deduction is restricted if you have over $50,000 in start-up costs. If you have additional start-up costs over the $5,000, you can amortize these costs over 15 years. If you are not going to be profitable in your first year, you may want to consider another option to minimize your taxes in years where you make more profit. You can also wait to recover your start-up costs until you sell your business or close the business, but most business owners don't want to wait that long to get the tax benefit from these start-up costs. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
The Importance of Trademarks -- Entrepreneur Tip
http://www.nchinc.com/ Millions of companies large and small use trademarks or service marks to protect their name and brand. A trademark is a symbol, word, or words legally registered or established by use as representing a company or product. Trademarks protect businesses from competitors stealing their identity or using a name or symbol so similar that it could cause confusion for clients or customers. By identifying a product or service with a trademark or service mark, consumers are better protected from the deception of copycat competitors. Trademarks are also important because they help consumers find and identify your company. The marketplace is crowded and it’s hard for consumers to distinguish your business from your competitors. However, customers viewing a trademark immediately know who they are dealing with, and likely know the reputation of your business, making them less likely to look for alternatives. If you want to protect your brand with a trademark, do your due diligence before investing a lot of time and money in launching a new brand. Obtain a clearance search to make sure your new brand is available and doesn't infringe on anyone’s prior rights. When you’re certain about your brand, file for the trademark or service mark to protect your business. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Doing Business As (DBA) -- 60 Second Business Tip
http://www.nchinc.com/ Doing Business As (DBA) If you or your company is doing business using a different name than the actual legal name on record, did you know that you need to file a DBA? DBA simply stands for "Doing Business As...". This must be filed with the county that shows the original legal company name, along with the name your company is doing business under. A DBA is different than a business license and also does not trademark the name, although most counties or states require you to research your proposed name to ensure it does not conflict with that of an existing business. One of the biggest advantages of getting the DBA handled early on is that you generally need it to open a commercial bank account in the name under which the company is doing business. To learn more about how to file a DBA, call a Nevada Corporate Headquarters representative today at 1- 800-508-1729.
Incorporate in Nevada -- 60 Second Business Tip
http://www.nchinc.com/ Thinking about Incorporating in Nevada? Anyone in the United States can incorporate their business in any state they choose. By doing so, in personal liability cases, your business will be governed under the laws of the state of incorporation if brought into a court of law. You can use and maintain a Nevada corporation or LLC even if you are not a resident of Nevada and can establish one without ever visiting the state. Annual meetings can be held anywhere in the world at the option of the director(s). Working in conjunction with a competent resident agent, can make this process much simpler. Your resident agent will be able to assist you along the way, providing your corporation with the services necessary to allow you to establish a base in Nevada and saving you the time and expense of traveling to the state to acquire an office for your corporation. By providing you with the use of their facilities and staff, they can provide the Nevada office presence you need, while also completing all the necessary corporate paperwork. Call a Nevada Corporate Headquarters, Inc. representative today at 800-508-1729 to learn more about choosing the State of Nevada.
Personal Liability Guarantee -- 60 Second Business Tip
http://www.nchinc.com/ Personal Liability Guarantee All corporations active with us automatically receive the Personal Liability Guarantee. This guarantee provides $100,000 worth of relief if your corporation or LLC has its veil pierced and its owners, directors, officers, managers or members of the company are being held personally liable for the debts. The guarantee is not insurance, and is limited to up to $100,000 reimbursement of reasonable legal defense expenses. However, the guarantee is subject to the company having followed our step-by-step checklist, as provided in the Terms and Conditions of the Personal Liability Guarantee. To maintain your Corporation or LLC's eligibility for the Personal Liability Guarantee, we need to conduct a compliance check on your entity. Every business owner needs to pay special attention to record keeping and corporate procedures in order to protect the corporate veil. We can help you maintain an impenetrable corporate veil for your company. In the event of a lawsuit that targets your personal assets, our Personal Liability Guarantee will provide you the peace of mind you need and your family deserves. To schedule your Personal Liability Guarantee compliance check, please contact a Nevada Corporate Headquarters specialist by calling 1-800-508-1729
Corporate Bylaws -- 60 Second Business Tip
http://www.nchinc.com/ Corporate Bylaws are the internal formalities of keeping your corporation active. It is a legal document that defines a corporation's purpose, how it will run its affairs, and the duties and responsibilities of people who own and manage it. When you incorporate, you sketch out some of these concepts in your Articles of Incorporation, but Bylaws take it a step further. They set out the duties and obligations of the shareholders, directors and officers. They also let you specify shareholder ownership rights, select officers and directors, plan annual meetings and create rules around the removal of officers or directors. By creating Corporate Bylaws, you'll clearly define how your corporation will be run and you'll set expectations for shareholders, officers and board members. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Real Estate Privacy Trust (REPT) -- 60 Second Business Tip
http://www.nchinc.com/ Real Estate Privacy Trust (REPT) The Real Estate Privacy Trust or REPT is known in some states as a 'Land Trust'. REPTS are designed to protect landlords who are concerned with lawsuits and or privacy. REPTs are a very powerful tool for the savvy real estate investor because an REPT is a revocable living trust used specifically for holding title to real estate. The trustee holds legal title to all trust property; however the named beneficiaries retain use of the property and any income it generates. Each property is titled in a separate trust, affording maximum privacy and protection. There is generally no requirement to register the trust. Nor are there public records of officers, directors and shareholders. The trustee keeps control of the trust records and the identity of the beneficiaries in a secure location and will not reveal this information without a subpoena. No one knows about your beneficial ownership except you, your attorney and the trustee. For more information on strategies that will provide privacy as well as asset protection, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
LLC Hierarchy -- 60 Second Business Tip
http://www.nchinc.com/ LLC Hierarchy Similar to corporations, Limited Liability Companies have specific titles and expectations for these roles. There is less required formality that comes with running an LLC so likewise the organizational structure of the LLC is equally simple. There are two primary tiles that come with an LLC: Members and Managers. Ownership in an LLC is represented by membership and an owner is titled a 'Member'. There can be an unlimited number of members in an LLC. A member does not have any unique role or responsibilities in the operation of the business, but they do maintain the responsibility of choosing a 'Manager'. A manager in an LLC is the title given to the individual that runs the affairs of the business entity and generally the business itself. The manager of the LLC would be the one that the public would deal with and who is a contact person for the business. If you have more questions about LLCs, call a Nevada Corporate Headquarters representative today, at 1-800-508-1729.
Silent Partners -- Business Funding Tip
http://www.nchinc.com/ Silent Partners Taking on a silent partner is a good way for an emerging business to get financing without compromising control. A silent partner is an investor who has no management responsibilities but provides capital and shares liability for any losses experienced by the business in return for a share of the profits. These types of investors are strictly in it for investment purposes, although they may still benefit the entrepreneur in ways beyond financial capital. Like any business relationship, it is important to know what the investor's principles and expectations are. Make sure things are put into agreements or contracts regardless of the situation. Finding someone for silent partnership can be very difficult, as you have to be able to ensure them that you are a hard-working individual with strong business ethics. To learn more about using silent partners to fund your business, contact a Nevada Corporate Headquarters representative today at 1-800-508-1729.
Establishing Strategic Partnerships -- Entrepreneur Tip
http://www.nchinc.com/ Strategic partnerships can be a great way to enhance business. But, it’s important to properly establish the needs and requirements of both participating parties to ensure a smooth and long lasting relationship. Start with understanding your value and what a partner can do to increase that value, and vice-versa. Be confident with what you bring to the table, so a strategic partner can understand your worth. This should be true for the partner you are seeking as well. There should be products or services that each of you can fulfill creating a seamless partnership. The goal is that you have a shared vision and commonality that creates even larger success. Remember that developing partnerships is typically not a quick process. It usually requires thorough planning and many meetings to ensure that you are both pleased with the direction of the partnership. Finally, it’s important to write down the terms of your agreement to protect your interest and to provide security within your new relationship. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
The Importance of Maintaining Good Business Records-  Entrepreneur Tip
http://www.nchinc.com/ Record keeping is very important for almost all businesses. Proper business record keeping provides businesses an advantage over a variety of areas such as taxes and future goal planning. A small business that fails to keep complete and accurate records places its long term success in doubt. Records can show whether your business is improving, which items are selling, or what changes you need to make. Keeping good records helps business owners manage their accounts, interests, taxes and working costs effectively. While business record keeping is necessary for financial aspects such as accounting or tax and audit purposes, good record keeping also plays a crucial role in business growth strategies. Having all of your financial, legal and sales data well organized and easily accessible can help you assess business performance, identify growth opportunities, avoid shortfalls, and make better financial decisions. Running your business without good record keeping is never a good idea. Without meaningful records of what you’ve actually done and, more importantly, what’s coming up, you may be facing unexpected trouble and costly consequences. Invest some time in putting together a plan to keep all of your business records in one place and up-to-date. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Nevada Corporate Headquarters - Harlem Shake
Just another day in the office...
S-Corp to Reduce Self-Employment Taxes -- Small Business Tax Tip
http://www.nchinc.com/ If you're self-employed, you'll usually have to pay higher Social Security and Medicare taxes, collectively known as self-employment taxes, than if you were an employee of a company. One way to help avoid these higher taxes is to organize your business as an S-corporation. The Internal Revenue Service may take a close look at your taxes if you choose this route, as you could end up lowering your overall tax liability while generating the same net income. If you organize your business as an S-corporation, you can classify some of your income as salary and some as a distribution. You'll still be liable for self-employment taxes on the salary portion of your income, but you'll just pay ordinary income tax on the distribution portion. Depending on how you divide your income, you could save a substantial amount of self-employment taxes just by converting to an S-corporation. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
What's the Real Importance of Business Credit? Entrepreneur Tips
http://www.nchinc.com/ You may know your personal credit score, but what about your business credit score? Start-ups and first time entrepreneurs might not understand the value of building business credit. Business credit is important because it enables you to get funding for expanding and developing your business. Throughout the life of a company, the need to establish business credit will most likely arise. You should try to build business credit before your company needs it. A good business credit score will benefit a business that needs an emergency business loan. If you’re equipment breaks or if you need the cash quickly to complete a project, having a good business credit score will help you get approved for a small business loan. Without building business credit, business owners will have to continue to rely on their personal credit. A business owner that has established business credit for their company will be able to eliminate the use of personal credit checks since the company has its own credit ratings. This prevents a business owner from having to co-mingle personal credit, personal debts, and personal assets with his company. By establishing and maintaining good business credit, business owners could also increase the value of their company. Because good credit is fully transferable with the business, it makes it very attractive for a potential buyer or investor. Building business credit provides remarkable benefits for a business and gives unique financial advantages in the market place. With good business credit, a company can secure lines of credit, lease equipment, finance a company vehicle, and obtain business loans and credit cards without putting personal credit at risk. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Liability Protection -- 60 Second Business Tip
http://www.nchinc.com/ Liability Protection While most small businesses know that incorporating can shield personal assets in the event of a frivolous lawsuit, many are lulled into complacency by an "it-won't-happen-to-me" attitude. This thinking has resulting in tremendous losses to many unprepared business owners Corporations are used in the business world today primarily for liability protection. Corporations came into existence to limit the direct responsibility for the participants for the faults or debts of a business. An individual can invest money in a corporation and the investor's potential loss will be limited to the amount of money invested and no more. If a corporation gets itself into a lawsuit, the outcome of that lawsuit can affect the corporation directly, but the participants generally cannot be held responsible except if corporate formalities have not been maintained or in the case of fraudulent activity. Because of the obvious advantages of limiting the amount of personal liability that one takes on by operating through a corporation, many strategies have been developed to protect the assets of businesses that have potential lawsuit risk. In addition, other strategies have been developed to protect the assets of individual because of our litigation-crazy society. To ensure you are properly protected, contact a NCH representative today at 1-800-508-1729.
Reducing Your Audit Risk -- 60 Second Business Tip
http://www.nchinc.com/ Reducing Your Audit Risk Did you know that the minute you incorporate, your risk of audit may be dramatically reduced? The IRS puts more emphasis on sole proprietorships than on small corporations when it comes to audits. The IRS audits 1.6 percent of all sole proprietors and only .3 percent of corporations with assets of less than $1 million. That means your almost 5 times less likely to be audited if you're incorporated. The IRS sees an individual operating as a sole proprietor or those operating as general partners to be less sophisticated than businesses operating as corporations. In general, corporations are also less lucrative to audit because they are allowed more deductions and are taxed at a lower rate. This is not to say that corporations in general are not targets for the IRS. Corporations targeted by the IRS are those with assets over $250,000 or revenue over $3,000,000. These large corporations are seen as a big money-making opportunity for the IRS. Also large corporations often keep attorneys and CPAs on staff to combat the likelihood of an IRS audit. To learn more about starting a corporation and reducing your risk of an IRS audit, call a Nevada Corporate Headquarters, Inc. representative today at 800-508-1729.
Estimated Tax Payments -- Small Business Tax Tip
http://www.nchinc.com/ As a small business owner, you'll need to make estimated tax payments during the year to cover your federal income tax liability, unless you expect to owe less than $1,000. Generally, estimated taxes are due in four quarterly installments, due by April 15th, June 15th, September 15th, and January 15th. Keep in mind even though estimated taxes are often referred to as quarterly payments, the deadlines are not three months apart from each other. You can either mail in payment or pay electronically. Just remember to keep track of your estimated tax payments, and save the information for your records and next year's taxes. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Limited Liability Limited Partnership Advantages -- 60 Second Business Tip
http://www.nchinc.com/ A Limited Liability Limited Partnership, or LLLP, is a relatively new development in the corporate world. Its structure is similar to that of the Limited Partnership in that it can have one or more General Partners and one or more Limited Partners. As with the standard LP, the General Partners manage the operations of the LLLP, while the Limited Partners typically play a passive role. Once again, with the LLLP, the profits of the partnership flow directly through to the partners and show up as ordinary income (pass-through taxation). With that being said, with the LLLP, the General Partners and the Limited Partners both have limited liability for any debts or claims against the partnership. This means that in the event the partnership is ever sued, both the General Partner(s) and the Limited Partner(s) are protected. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Asset Protection - Nevada Corporate Headquarters
http://www.nchinc.com/ Hi, I'm Cort Christie, Founder of Nevada Corporate Headquarters. Almost every state in the U.S. has adopted corporate statutes that limit the liability of corporate representatives, including the officers, directors and stockholders. Today, however, many states are allowing lawsuits to penetrate a corporation's veil of protection. Directors and officers of a corporation are being sued personally for the corporation's actions. This means, that an officer's personal assets could be attacked, leaving their home, savings, and investments completely at risk. There are a number of good reasons to protect personal assets by using state law to create separate financial entities. It doesn't take a catastrophic lawsuit to wipe out everything you own. Could you satisfy all your business obligations without tapping into personal reserves or losing personal assets? Existing assets are not the only targets for creditors. Unrealized assets are also at risk in the event of an unfavorable judgment. Unlike other states, Nevada believes that the individuals controlling corporations should not be in jeopardy of losing their personal assets because of corporate matters, and, likewise, corporations should not be responsible for the personal liabilities of its controllers. Nevada's courts have taken a firm stand to prevent lawsuits against a corporation from personally affecting the corporation's representatives. You can own and operate a corporation in Nevada and take advantage of asset protection whilst living in any another state. Nevada's unique corporate statutes, such as minimal reporting and shareholder privacy, make asset protection in Nevada the strongest in the US. Protect yourself and your personal assets today by contacting a Nevada Corporate Headquarters representative at, 1-800-508-1729.
Limited Partnership Advantages -- 60 Second Business Tip
http://www.nchinc.com/ Limited partnerships are composed of a minimum of two types of participants: general partners and limited partners. A limited partnership is similar to a general business partnership while still offering limited liability protection to some of the partners. Limited partners act as silent partners making a capital investment much like passive shareholders in a publicly traded corporation but having no involvement in the management decisions of the business. A limited partnership allows for pass-through taxation, as its income is not taxed at the business level. Income or losses are reported on the partners' tax returns and any tax due is paid at the individual level. Limited partners can use losses to offset other passive income on their tax returns. Limited partnerships are especially appealing to a business partnership where a single, limited-term project is the focus—such as the film industry, real estate or estate planning. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Business Plan vs Business Model -- 60 Second Business Tip
http://www.nchinc.com/ Business Plan vs Business Model A good business model with a good business plan can ensure success. The business plan, which demonstrates how the business intends to succeed and grow, is the key component in raising financing. This can influence the ability of the business owner to obtain the desired financing. A business model reflects the structure of the business and how it is currently built. A flawed business model creates much difficulty for the business owner even with the greatest of efforts. Many times a potential business owner cannot obtain financing without the business plan. The business model focuses on the architecture of the business and how the structure creates value. Most people conclude that the business plan and the business model are synonyms; however, the two concepts serve entirely different purposes and contain different studies or reports. For more detailed information on business plans, call an NCH representative today at 1-800-508-1729.
Corporate Bank Account -- 60 Second Business Tip
http://www.nchinc.com/ Corporate Bank Account Once you are ready to start using your corporation, you will want to set up a corporate bank account. Even if you are not prepared to start using your corporation, it is a good idea to have a bank account established so that everything is ready to go when your corporation is. Although the owner of the corporation does not reside in Nevada, it is best to establish a Nevada bank account to further legitimize the presence of the corporation in the preferred state. Remember, you don't want to defeat the purpose of having a Nevada corporation by running transactions through your home state corporation or losing out on Nevada's tax advantages. Establishing a Nevada bank account can be easier than setting one up in your home state. At NCH we have established very friendly relationships with several local banks in order to process corporate bank accounts quickly. To learn more about and how to set up a bank account in Nevada, call Nevada Corporate Headquarters today at 1-800-508-1729.
Successor Trustee -- 60 Second Business Tip
http://www.nchinc.com/ Successor Trustee A successor trustee is an individual who manages and controls a trust after its original trustee dies or is incapacitated. A successor trustee but can be a spouse, sibling, bank officer, accountant, attorney or other trusted party. The successor trustee is in charge of managing the assets when the grantor is no longer able to. They can sell, transfer and distribute assets according to the instructions the grantor created for the trust, but they cannot change the details of the trust after the grantor has died. Once the grantor dies or becomes incapacitated, the trust becomes irrevocable, which means no one can make changes to it. A grantor should discuss their choice with the successor trustee and provide them with a copy of the living trust, along with the property and beneficiary worksheets so they have a complete understanding of the trust's contents. For more information on a living trust, please contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Setting Effective Goals -- Entrepreneur Tip
http://www.nchinc.com/ Setting goals for your business is imperative if you want your company to grow. Whether you have a large company with many employees or a small company, your business success depends on your ability to set and achieve goals. A smart business owner understands the value of setting effective goals to put a growing business in the right direction. To begin setting effective goals for your business, start by distinguishing your long-term goals from your short-term goals. Your long-term goals should have a timeline of about three to five years. Your long-term goals should articulate your company's mission statement, reflecting the reason your company was founded. After you've determined your long-term goals, you need to figure out how to get there. Creating short-term objectives will help you reach your long-term goals. Set short-term objectives by breaking down specific actions to be taken by specific people. You’ll also want to make sure your short-term goals are specific, measurable, attainable, relevant, and have a deadline. Whatever goals that you set, make sure you write them down and periodically review your goals and make adjustments as necessary. Once you’ve accomplished a goal or reached a milestone within your goal, make sure to mark the occasion. You’ve invested an incredible amount of time, energy and determination to reach your goal, so make sure you take a moment to celebrate your success. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Corporate Credit Cards -- Business Funding Tip
http://www.nchinc.com/ Corporate Credit Cards Every new business owner should begin to apply for corporate credit cards as soon as they start operations. Your first step is to set up your business as a separate organization as a corporation or LLC. This creates a distinction between your business and personal credit profiles. You'll want to start using the credit cards regularly to make purchases for the business. This begins to establish a credit history. Doing so will aid in building the size of the credit line. A business's creditworthiness is ultimately based on what are known as the Four Cs of Credit: character, capacity, capital, and conditions. Most of that exists in your company's D&B credit report. You will also want to find out exactly what the requirements are for each lender as well as credit bureaus. By doing a credit assessment, you will know what standards are expected before you begin to establish your credit profile. To learn more about using corporate credit cards to fund your business, contact a Nevada Corporate Headquarters representative today at 1-800-508-1729.
Deducting Rent -- Small Business Tax Tip
http://www.nchinc.com/ The IRS defines rent as any amount that you pay to use property you do not own. Most of us are familiar with the concept of paying rent for office space, land or equipment. But you may not know that you can deduct part of your rent on your home, condo or apartment if you use part of it as a place of business. To do so, you must meet the requirements for a home office. If you rent property from your relatives or a related company and the IRS deems the rent to be excessive, they will disallow the deduction. To avoid this, make sure the rent is comparable to what you would pay a non-relative. Contact a real estate agent and ask him or her to prepare comparisons of similar properties in the area to substantiate the rent you are paying to a related party. For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Live Anywhere, Incorporate in Nevada! -- 60 Second Business Tip
http://www.nchinc.com/ Live Anywhere, Incorporate in Nevada Anyone in the U.S. can incorporate their business in any state they choose. By doing so, they will be governed under the laws of the state of incorporation if brought into a court of law. You can use and maintain a Nevada corporation or LLC even if you are not a resident, and you can establish a corporation without even visiting Nevada. A corporation or LLC can be formed online, through email or over the phone. The process of incorporating can be made much simpler, by working in conjunction with a registered agent. Your registered agent is able to assist you along the way and allows you to establish a base in Nevada. Remember that when you own a corporation or LLC, it exists as a completely separate entity or person. A Nevada corporation can provide the greatest benefits for protecting you and your business. For more information about incorporating in Nevada, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
C Corporation Advantages-- 60 Second Business Tip
http://www.nchinc.com/ C corporations provide limited liability protection to owners, meaning owners are typically not personally responsible for business debts and liabilities. Starting a C corporation may also offer greater tax advantages because of an expanded ability to deduct employee benefits, which are most often used by growing businesses. A C corporation can provide the following advantages: limited liability protection, easy transfer of ownership, credibility, unlimited owners, tax deductible expenses, lower audit risk and self-employment tax savings. The important point to remember is that, when you own a corporation, it exists as a completely separate entity or 'person'. You can live anywhere you choose because it is the corporation's 'state of residence' that dictates the requirements. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Tax Deductions for Charitable Giving -- Small Business Tax Tip
http://www.nchinc.com/ Most small businesses make charitable donations. In fact, surveys have shown that about 75 percent of small business owners donate some portion of their profits to charitable organizations each year. In order for your donation to be deductible, it must go to a nonprofit group that is approved by the IRS. To write off any cash contributions, no matter how small, you need a canceled check, bank record or a receipt with the charity's name and donation amount. There's also a limit on how much you can deduct. The basic rule is that your contributions to public charities, colleges and religious groups can't exceed 50 percent of your Adjusted Gross Income, and you can't write off a contribution to the extent that you get something in return. Remember, required to keep excellent records of their charitable contributions. Your records must indicate the name of the charitable organization, the date of your contribution, and the amount your contribution. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
How to Find Your Break-Even Point -- Entrepreneur Tip
http://www.nchinc.com/ In order for your business to be profitable, it is important to know what your break-even point is. A break-even point is the point at which the company’s sales exactly cover its expenses. When your company hits its break-even point, the company sells enough of its products or services to cover its expenses without making a profit or taking a loss. Even if your business is generating a lot of revenue, it could still be operating at a loss if all of the expenses of running the business exceed the revenue. Knowing the break-even point is also helpful in deciding prices, setting sales budgets, and preparing a business plan. In order to calculate your company's break-even point, use the following formula: Fixed Costs/Sales Price per Unit - Variable Costs = Break-even Point in Units The break-even point formula is calculated by dividing the total fixed costs of production by the price per unit less the variable costs to produce the product. The break-even point calculation is a useful tool to analyze critical profit drivers of your business including sales volume, average production costs and average sales price. While the break-even formula is a simple way to quickly calculate your break-even point, you should talk to a CPA when considering your business's profitability for any major decisions. When you thoroughly understand your numbers, you can make smart decisions that will help your business prosper. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Deducting Auto Expenses -- Small Business Tax Tip
http://www.nchinc.com/ As a small business owner, you can deduct automobile expenses for visits to clients, customers or travel to business meetings away from your regular workplace. If you have a home office, a drive from your home to a supplier and back home again is a 100 percent deductible business expense. When figuring expenses, you may choose between taking the standard mileage rate or deducting your actual expenses for items such as gas, oil changes, tires, repairs, preventive maintenance, insurance and registration. If you choose to deduct your actual expenses in the year you start using your car for business, you can't switch to the standard mileage rate later. If you decide to deduct your actual expenses, you must keep a log of your trips noting the date, the miles driven, and the purpose of each trip. Try to log your trips as they occur, when it's easier to keep track of the details For more information on small business taxes, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Registered Agent - Nevada Corporate Headquarters
http://www.nchinc.com/ Hi, I'm Cort Christie, Founder of Nevada Corporate Headquarters. All states require business entities to have what is called a registered agent also known as by its acronym RA. In your home state, you have a choice of acting as your own RA or choose a third party to act as your RA. Your RA serves as your business entities address for all legal matters, including government correspondence. To firmly establish your registered agent as your businesses headquarters, your corporation will need to communicate the agent's address as the corporation's legal address to the Secretary of State's office. Your RA acts as a buffer between your businesses legal matters and your physical place of business. Anyone trying to locate your corporation, first starts with your RA. If you do not have a physical location in the state in which your business is registered, you must designate a registered agent to accept documents on your behalf. By having someone else responsible for the receipt of tax and legal documents, you can have the peace of mind that someone will always be available to claim such important documents. A business that does not designate a separate RA, may risk falling out of "good standing" with the state in which it is registered by simply missing one state notice. Penalties can include license revocation, fines, and the inability to enter into legal contracts or gain access to banking and the state court system. For more information about retaining a Registered Agent, please contact a Nevada Corporate Headquarters representative at, 1-800-508-1729.
Understanding a Business License -- 60 Second Business Tip
http://www.nchinc.com/ If you're starting your own company, be sure to avoid the common mistake of overlooking the licenses and permits you need to run your business. Nearly all businesses require some form of federal, state or local business licenses. You don't want to start your business off on the wrong foot by failing to obtain your licenses before transacting business. Federal licenses are typically required only for businesses regulated by a federal agency. But there are many different types of state licenses, generally granted by state agencies or the state department of taxation. Most local counties and municipalities require licenses, too. Many states have licensing requirements for bars and restaurants. Also, most retail businesses need a sales tax license. On the local level, most businesses need a general business license to operate in a particular city or county, and there are often local tax-related licenses, as well. To learn more, contact a Nevada Corporate Headquarters representative at 1-800-508-1729.
Bank Line of Credit -- Business Funding Tip
http://www.nchinc.com/ Bank Line of Credit A line of credit involves a bank setting aside designated funds for a business to draw against as needed, similar to the credit limit on a credit card. As funds are used, the credit line is reduced, and conversely, when payments are made, the line is replenished. There isn't a set monthly payment as you would have with a traditional loan. Using a bank line of credit is ideal for covering purchases that are too small for a traditional loan, but too large for a credit card. Lines of credit are helpful for managing seasonal, predictable, or industry-related cash flow variations. When an expense comes up, you can immediately access the line of credit instead of waiting for funding from other sources. Keep in mind, they require a personal guarantee and involve an annual fee to cover administrative costs. To learn more information about using bank lines of credit to fund your business, contact a Nevada Corporate Headquarters representative today at 1-800-508-1872.