The post Help Clients Choose What Is the Best Business Structure Without Fear of Unauthorized Practice of Law appeared first on CorpNet.

Among the many tasks that entrepreneurs need to tackle when starting a business, figuring out how to choose the right business entity type stands as one of the most critical. A company’s business structure affects:

• Personal liability of the business owner
• Tax rates and rules
• Potential to raise money
• How profits and losses are distributed among owners
• Complexity and paperwork involved in setting up and operating the business

With so much riding on selecting the right business entity type, it pays to research the options thoroughly and get guidance from licensed legal, accounting, and tax professionals. It can also help to educate yourself by taking advantage of online resources that provide information. For example, I’ve conducted several webinars on the topic to help business owners gain a stronger understanding of the options that are out there and what they should consider as they weigh the pros and cons of each.

Let’s take a look at some of the highlights from each of the webinars. After you’ve had a glimpse of the insight they offer, I hope you’ll save them for future reference as you consider how to choose the right business entity for your entrepreneurial venture. And if you’re a professional services provider (such as a business consultant or coach, tax preparer, bookkeeper, accountant, lawyer, etc.), who helps entrepreneurs, these webinars offer information to aid in your efforts, too.

Webinars to Help You Decide Which Business Structure Is Best

1. Pros & Cons of Popular Business Entities: Sole Proprietorship, LLC, S Corp, and C Corp

In this SCORE webinar, I discuss the most commonly selected business entity types and share some of the advantages and disadvantages of each. Here’s a quick overview:

Sole Proprietorship (or Partnership)

Sole Proprietorship Advantages

• Simple to form
• Simple to maintain
• Simple to tax

Sole Proprietorship Disadvantages

• A Sole Proprietorship offers no separation of personal and business assets
• Privacy of some personal information not protected
• Prevents building business credit and limits the ability to raise capital for the business

Limited Liability Company (LLC)

LLC Advantages

• An LLC offers simple formation and compliance requirements
• Personal asset protection for owners
• Tax flexibility
• More professional credibility than a Sole Proprietorship or Partnership

LLC Disadvantages

• Possible confusion over roles and responsibilities when the LLC has multiple owners (a.k.a., members)
• Possibly excessive self-employment tax burden for members if they don’t opt for S Corp tax treatment
• May not sell stock and may find it challenging to get backing by investors

S Corporation (Subchapter S Corporation or S Corp)

Note that the S Corporation is not a business structure on its own, but rather a tax election qualifying LLCs and Corporations can make.

S Corp Advantages

• Potential tax savings for LLCs because not all income is subject to self-employment taxes
• Potential tax savings for Corporations because tax flows through to shareholders’ personal tax returns, thus avoiding double taxation of some company profits
• Personal asset protection for members and shareholders

S Corp Disadvantages

• More compliance complexity than an LLC
• Higher formation costs than an LLC
• Eligibility limitations (e.g., C Corporations with over 100 shareholders don’t qualify.)

C Corporation (C Corp)

C Corp Advantages

• Personal asset protection for owners
• More growth potential than other structures (can sell multiple classes of stock and have an unlimited number of shareholders)
• Longevity (survives beyond its owners’ lifespans)

C Corp Disadvantages

• Costs more to incorporate than to form other business entity types
• Has more complicated compliance requirements
• Double taxation (Profits distributed as dividends are taxed at the corporate level and on shareholders’ individual income tax returns.)

This webinar also includes a diagram to walk you through a decision tree to help you visualize which of the entity types might warrant a more in-depth discussion with your attorney, accountant or tax advisor.

Note that the different structures have different initial filing and ongoing compliance requirements. You can find out more by watching the webinar or downloading the presentation transcript from the SCORE website.

2. Pros and Cons of Popular Legal Entities and When to File

This webinar, offered through Latino Tax Pro provides similar information to my SCORE webinar—and it goes a step farther. It also addresses the question, “When is the best time to form a business entity?”

Factors that Influence Choosing the Right Business Entity

Just as choosing the right entity type depends on various factors, when is the best time to file depends on a number of considerations, as well.

• Need for protection of owners’ personal assets
• Tax benefits
• Administrative complexity

When forming an entity mid-year, business owners will have two sets of tax forms to file for that tax year. For example, if a sole proprietor files to form a C Corp on July 23, the business owner would need to file a tax return as a sole proprietorship for January 1 through July 22 and also a tax return for the Corporation for July 23 through December 31.

One way to avoid the extra tax preparation work is to submit a delayed filing.

What is a Delayed Filing?

A delayed filing provides control over when a corporation or LLC goes into effect. In the states that allow delayed effective dates for business entities, entrepreneurs can set the date they want their company to be officially registered with the Secretary of State. By selecting a delayed effective date of January 1, a business gets a clean start at the very beginning of the new year, thus eliminating the need to file two sets of tax returns.

Advantages of a Delayed Filing

• It streamlines the tax filing process
• It allows entrepreneurs to avoid the end-of-year rush to submit business formation paperwork.
• It provides ample time to prepare for other startup requirements.

Not only can brand new business entities benefit from a delayed filing, but existing entities that want to change their entity type also can.

Keep in mind, however, if registering an entity will result in tax savings, it might be well worth filing as mid-year rather than requesting a delayed effective date. Also, if gaining liability protection of personal assets sooner rather than later is essential, then filing mid-year may be the best option.

How to Request a Delayed Filing?

The three steps involved include:

• Choosing the business structure
• Deciding on the effective date, and make sure the Articles of Organization or Articles of Incorporation reflect that date
• Submitting the required paperwork

Note that all states have registration paperwork with a designated provision for a delayed filing. If that’s the case, it might be possible to add one as an additional provision.

3.  Should Your Clients Incorporate Now or in the New Year?

I presented this webinar for CPA Academy. It has helpful information for accountants who want to provide resources to their clients, and it’s also valuable to business owners who are considering forming an entity or changing their existing entity type.

Like the Latino Tax Pro webinar, it discusses the potential advantages of a delayed filing. It shares some additional details that I’d like to shed light on here.

Disadvantages of Waiting Until the Last Quarter to File Formation Paperwork

• States typically get inundated with business registration filings at the end of the calendar year.
• Paperwork that might typically take just a few weeks to process, could take a lot longer during the end-of-year rush.
• Waiting until December to register a business entity could result in the application getting tied up until February.

CorpNet Online Tools for Entrepreneurs

The webinar also shares some of the helpful tools on CorpNet’s website. For example,

• Our Business Structure Wizard – An online questionnaire that steps you through a series of questions to help identify which entity type might offer the most advantages based on your answers.
• Business Name Search – A free online tool that helps you identify if the name you want to use for your business is available.
• CorpNet’s Compliance Portal – A free online portal for monitoring compliance requirements and deadlines.
• Meeting Minutes Templates – Providing a foundation for creating a record of the various meeting minutes required of some entity types.

Also, the CPA Academy and the Latino Tax Pro presentations discuss the opportunity for CPAs and other professionals to provide additional value to their clients while earning extra revenue for their firms by participating in the CorpNet Partner Program.

4. How to Keep Your Clients in Compliance Throughout 2019

Being in the know about ongoing compliance is just as important as knowing how to choose the right business entity. I presented this webinar for AccountingCred to highlight some of the compliance requirements different entity types face.

A rundown of what it covers includes:

What is Corporate Compliance?

Corporate compliance means that a business entity is maintaining its good standing within the state(s) where it has been formed or given authority to do business. Besides the initial filings and tasks to operate legally, LLCs and corporations also have ongoing responsibilities that they need to fulfill annually or on some other schedule. Entities must meet all required external and internal business compliance rules.

Why is Staying Compliant Important?

Dire consequences can await entities and their owners if they fail to meet compliance requirements by their deadlines.

• State-imposed late fees and interest on payments owed
• Denied expansion into other states
• Negatively affect financing and business opportunities
• Risk losing liability protection of personal assets
• Dissolution of the entity by the state

What Must LLCs and Corporations Do to Stay Compliant?

The requirements vary by state and entity type. Below is a list of some compliance documents and filings that companies may need.

Internal Compliance Requirements

The state may not ask for these to be filed, but companies may need to have them in their records:

• Bylaws
• Board of Directors
• Annual meeting minutes
• Operating Agreement

External Compliance Requirements

The state or other authorities might impose the following items:

• Initial Report
• Annual Report
• Registered Agent
• DBA (a.k.a., fictitious name or trade name)
• Employer Identification Number (EIN)
• Franchise Tax
• Foreign Qualification
• Licenses and Permits
• Articles of Amendment
• Articles of Dissolution

The webinar goes into detail about these internal and external compliance requirements.

What Can You Do If the State Notifies Your Company that It’s Fallen into Bad Standing?

The process may vary depending on the state. Generally, the steps to take would be to:

1. Contact the Secretary of State to identify why the entity has fallen out of compliance.
2. File reinstatement forms with the Secretary of State office.
3. Pay any outstanding fees to the state.

How Can Businesses Stay on Top of Their Compliance Responsibilities?

The webinar provides a state-by-state list for LLCs and Corporations. It identifies which states require an initial report or annual report, along with the filing deadlines.

It also touches on some additional state-specific compliance requirements that several states have enacted.

5. Business Incorporation and Compliance – What to Know for Your Firm and Clients

In this webinar, which is geared toward accountants and tax professionals, for Encoursa, I discuss the different entity choices that are most popular, along with their potential advantages and disadvantages. I also cover the importance of compliance and share some of the common filings, reports, etc. that different entity types may need to complete depending on the state they’re registered in.

In addition, I emphasize why it’s critical for business owners to keep their personal and business finances separate.

Key Takeaways About Separation of Business and Personal Finances

• Maintain separate checking, savings, and credit card accounts for business and personal use. It’s required for LLCs and Corporations. Plus, the separation between personal and business finances makes it easy to distinguish business revenue and expenses from personal funds and transactions, and it allows for a more organized tax preparation process.
• Pay taxes on time. Entities can fall out of good standing and face fines and penalties if they neglect their tax payments, including income tax, sales tax, business tax, or franchise tax. Realize that different states and different county and local jurisdictions may have other fees, as well.

Recap of How to Choose the Right Business Entity

The webinars that I’ve described all provide information to show you the consideration that needs to go into selecting a business entity.

To recap, the choice of business entity will affect:

• Business owners’ personal liability risks
• Taxes
• Funding opportunities
• Distributions of company profits
• Administrative responsibilities

Schedule some time to watch all of them.

• Pros & Cons of Popular Business Entities: Sole Proprietorship, LLC, S Corp, and C Corp
• Pros and Cons of Popular Legal Entities and When to File
• Should Your Clients Incorporate Now or in the New Year?
• How to Keep Your Clients in Compliance Throughout 2019
• Business Incorporation and Compliance – What to Know for Your Firm and Clients

I hope that you will glean something of value from each one. Whether you’re an entrepreneur preparing to talk with your lawyer or tax advisor about your options or if you’re a professional services provider who wants to help your clients become better informed, these webinars can help. And after you’ve decided on the right entity for your business, CorpNet is here to make sure your filings are done accurately and on time. Contact us today to talk with one of our team members!

The post Webinars About How to Choose the Right Business Entity appeared first on CorpNet.

However, what if I told you there was another way to increase professional services revenue without adding overhead?

Ready for it…The CorpNet Partner Program

We created our program for business professionals like you. It’s flexible, simple to join, and free!

That’s right! We charge no setup or annual fees.

The CorpNet Partner Program Helps You Increase Your Revenue

You can partner with us and get wholesale discounted pricing as a white label Reseller of our business filing and corporate compliance services, or you can become a Referral Partner and refer your clients to us, receiving a referral fee for each sale.

Services that you can either resell or refer to us (in all 50 states!) to earn income include:

• Incorporation
• LLC Formation
  DBAs (also known as Fictitious Business Names)
• Foreign Qualification
• Business Name Searches, Reservations, and Registrations
• Initial Reports
• Annual Reports
• Bylaws
• Annual Meeting Minutes and Resolutions
• Registered Agent Services
• Business Licenses and Permits
• Amendments and Modifications
• Certificates of Good Standing
• Dissolutions and Withdrawals
• Entity Conversions and Reinstatements
• Sales Tax Registrations and SUI
• IRS Forms & Filings – Tax ID Form SS-4, Tax Elections (Forms 8832 and 2553)
• Other Annual Filings and Compliance Services

Before I go any farther, let’s address the elephant in the room right away. Some of you who aren’t attorneys might be wondering: Wouldn’t it be considered the practice of law to offer clients business incorporation and compliance filing services?

It is NOT considered the practice of law to file business registration and compliance paperwork on behalf of your clients. And, you may advise your clients on which entity to choose from the standpoint of your area of licensed expertise. For example, an accountant or tax advisor can offer insight from a tax implications perspective. Of course, if your clients need legal advice or tax advice, and you’re not qualified and credentialed to provide it, they should get guidance from a licensed professional when determining which entity they should choose. After they’ve gotten that direction, forms may be submitted by an attorney, the client, or the client’s representative (like you with the help of CorpNet). You can help your clients save time and money as you get the job done quickly and accurately through CorpNet’s services and seamless process. It’s a win for your clients, and for you, as you increase professional services revenue for your business.

6 Types of Professional Services Providers that Make a Great Fit

If any of the following types of professional services providers describe you, I hope you’ll consider applying to join.

• Business consultant or business coach
• Accountant or CPA
• Bookkeeper
• Attorney
• Tax advisor or tax preparer
• QuickBooks advisor

Services professionals who offer advisory services to businesses are good candidates to participate. We screen prospects to ensure a good fit for program participants and CorpNet.

We require no minimum sales volumes to participate in the Partner Program, so there’s no pressure to perform. We have created our program to suit the needs of your business and your clients—at whatever capacity you’re able to handle.

How the CorpNet Reseller Program Works

When you sign on to as a CorpNet Reseller, you can increase your professional services revenue by offering to prepare and complete your clients’ business filings related to incorporation, the formation of an LLC, S Corp election, business license and permit applications, annual reports, and more. No matter in which state your clients are doing business, you’ll be able to submit filings through CorpNet on their behalf. We give you all the tools you need to ensure success—private label services, a dedicated account manager, and personalized service that’s accurate and fast. As your silent fulfillment partner, we will never contact your clients without your consent. We do all the work behind the scenes while YOU get the credit!

CorpNet Resellers get wholesale discounted pricing of up to 30 percent on our services.

All fees for all products and services published on the CorpNet.com website represent our retail rates. We can send wholesale pricing to you when you sign up for the program and after we’ve on-boarded you. You can then charge your clients whatever fees you see fit for the services that you order from us when serving your clients.

How the CorpNet Referral Program Works

As a CorpNet Referral Program partner, you can refer your clients to a trusted resource for incorporation, LLC filings, registered agent services, and annual corporate compliance and monitoring in any state. You refer the client to us; we’ll do all the work and send you a check (a referral fee of up to 30 percent of the value of the services ordered). Or, if you like, you can waive your commissions and have us pass the savings to your clients instead.

To make the referral process seamless, we will assign you a dedicated account manager, who will be responsive to your needs and treat your clients with exceptional service. Note that even though we are handling all orders directly with your customers, we are happy to keep you apprised of the status of your clients’ filings (with their permission, of course!).

The Best of Both Worlds

You may participate in just one or both programs. We let you choose what will optimize your clients’ experience and your opportunities to increase professional services revenue.

For instance, you might choose to be more hands-on and perform as a Reseller for key clients with whom you want to interact more frequently. And then, for transactional or lower-spend clients, perhaps the Referral option will make the most sense.

The choice is yours!

No Hassle Marketing

We realize that creating marketing collateral to promote services to clients can be a chore. That’s why we have materials readily available for you to download. We also give you access to using online marketing assets (like widgets and banners). No need to reinvent the wheel—our tried-and-true marketing pieces will help you get the word out.

Bonus Advantage: A Competitive Edge

Besides the additional earnings potential that our program provides, being a CorpNet Partner also delivers a bonus advantage: It can give you an edge over your competition. Knowing that you can satisfy more of their needs and simplify their lives, customers will have even more reason to seek your expertise. The more value you can provide to your clients, the more loyal they will be and the more they’ll recommend your services to other prospects.

Apply to participate today! And if you want additional information about how our Reseller and Referral programs work and how they can help you increase professional services revenue, check out these resources to learn more:

• The CorpNet Partner Program Opens a New Revenue Stream for Your Business— Without Adding Overhead
• Increase Revenue & Client Satisfaction Without Increasing Overhead or Staff (webinar)
• How to Maximize Your Revenues as a CorpNet Affiliate or Partner Offering CorpNet’s Products and Services

We’re looking forward to helping you achieve and exceed your revenue goals. Start increasing your professional services revenue today!

The post Increase Professional Services Revenue with the CorpNet Partner Program appeared first on CorpNet.

Business Coaching Tips to Take Your Clients’ Companies to the Next Level

Business Coaching Tip #1: Seek Knowledge Always

Think about how much more you could offer your business clients if you knew more about the latest trends. From accounting to marketing to product development to other news that affects their industry, there’s much to learn. Consider going back to school to gain new insights. While physically attending classes has some advantages (networking, for instance), you could also take classes online. Web-based classes make a great alternative if you don’t have the time or you can find no classes in your local area.

Most local colleges offer a variety of business-related courses covering topics you may not be familiar with or skills you are not adept at. For example, look into classes on social media, improving communication skills or how to manage conflict in the office. You can then pass along the skills and knowledge you learn to your clients. There are also a number of workshops and seminars offered through government agencies and organizations, such as the Small Business Administration, SCORE, and a local Small Business Development Center office.

You can help your clients by learning specific industry information and passing it along to them. If, for instance, your clients are interested in expanding internationally by exporting goods, take a look at Export.gov, where you’ll find downloadable guides, market information, and a schedule of events you can attend. If your clients belong to industry associations, consider attending a meeting (with or without them) to learn best practices. Doing so can help you find out what others in their industries are doing to grow their businesses. Also, look for and subscribe to industry e-newsletters that will deliver up-to-the-minute information right to your inbox.

Business Coaching Tip #2: Understand Corporate Compliance Basics

A vital element of your services is helping your clients keep on the right side of the law by being compliant. The specific compliance obligations vary from state to state and depend on the legal structure of a business. Encourage clients to stay on top of deadlines for filings, keep corporate meetings, fulfilling licensing requirements, and complete other responsibilities. They should seek the guidance of licensed legal and accounting professionals to understand their obligations. To give you an idea of the types of compliance issues they need to watch are:

• Maintaining good corporate standing in a state by initial and annual reports and documentation.
• Filing Articles of Amendment if they make any changes to an existing corporation or LLC.
• Filing conversion documentation when a company converts one entity type to another. (such as  going from a corporation to an LLC)
• Filing a Certificate of Authority (sometimes also referred to as a Statement & Designation by a Foreign Corporation) with each Secretary of State’s office a client conducts business in. 

After your clients have gotten the proper legal and tax advice regarding their compliance responsibilities, you can help them fulfill those obligations by providing compliance services for your clients through the CorpNet Partner Program. It’s a wonderful way to bring in the new revenue and provide additional value to your clients without adding overhead.

Business Coaching Tip #3: Learn About Women-Owned Business Certification

Thirty years ago, there were close to 4 million women-owned businesses in the United States, and today, there are over 11 million. If your women business clients are running their own businesses and not officially certified as woman-owned businesses, they may be missing out on viable opportunities to gain new customers and clients. Federal, state, and local government agencies must give a certain percentage of their contracts to women-owned businesses. Many large corporations are also seeking to expand the types of companies they subcontract to and hire more diverse contractors. Getting certified as a woman-owned business could open the door to obtaining new contracts.

Here are the two types of woman-owned business certifications:

1. Women’s Business Enterprise (WBE) certification: For your clients that want to do business with the private sector, nonprofits, and state or local governments.
2. Women-Owned Small Business (WOSB) or Economically Disadvantaged Women-Owned Small Business (EDWOSB) certification is necessary for a women-owned business that want to conduct business with the federal government.

To be eligible for certification your client’s business must be a for-profit operation, meet the SBA size standards, be at least 51 percent woman-owned, and be controlled by a woman or women who are U.S. citizens or Legal Resident Aliens. The business’s daily operations must be overseen by a woman or women and the certifications must be renewed every year. To help your client get started, visit Certify.SBA.gov and find out what documents are required and then be on hand to help them through the process, which can get a bit complex.

A successful coach is all about anticipating your client’s needs. It’s essential you keep up on the latest issues, news, and information relevant to women business owners. You can do this by reading the latest research reports from the National Women’s Business Council or attending a local NAWBO (National Association of Women Business Owners) event in your area. As a bonus, attending events is a great way to find more clients.

Continual Learning and Development = Successful Business Coaching  

The best business coaches are the ones who never stop learning. They spend time keeping up with the latest trends so that they can share that information with their clients. And they look for business coaching tips that will help them become better and more effective. I hope these tips for business coaches will help you in your efforts to help your clients succeed.

The post Three Tips for Business Coaches to Help Their Clients Succeed in 2019 appeared first on CorpNet.

What is the CorpNet Partner Program?

The CorpNet Partner Program makes offering incorporation, LLC filings, and annual corporate compliance filing services simple for accountants, bookkeepers, CPAs, QuickBooks Pro-Advisors, Enrolled Agents, lawyers, business and tax professionals. YOU can start providing an array of business filing services to your clients in all 50 states. You can partner with us and get wholesale discounted pricing as a white label Reseller, or become a Referral partner and refer your clients to us and receive a referral fee for each sale. As a CorpNet Partner, you can handle the following types of filings for your clients:

• Incorporation & LLC Filings
• Business Licenses & Permit
• DBAs/Fictitious Business Names
• Foreign Qualification Filings
• Initial/Annual Report Filings
• Amendments, Modifications & Name Changes
• Name Checks & Reservations
• Certificates of Good Standing
• Dissolutions & Withdrawals
• Conversions & Reinstatements
• IRS Forms & Filings (Tax ID Form SS-4)
• S Corp Tax Elections (Form 2553)
• Sales Tax Registrations & SUI Filings
• Registered Agent Services
• Corporate Kits & Supplies
• Customized Bylaws & Resolutions
• Annual Meeting Minutes
• Annual Filings & Compliance Services in ANY State!

Partner Program FAQs

What Is the Difference between the CorpNet Reseller Program and the CorpNet Referral Program?

That’s an excellent question! Here are the details about each program.

As a trusted advisor in your field of expertise, you are in a unique position to add tremendous value to every client relationship. As a CorpNet Reseller Program partner, you can offer incorporation, LLC filings, and corporate compliance services to all your business clients in all 50 states. You provide the professional advice you’re licensed to offer, and CorpNet will prepare and file all the paperwork as per your preferences and specific instructions. CorpNet will ensure your success by providing you private label services, a dedicated account manager, and fast, reliable, accurate, and personalized services.  CorpNet is your silent fulfillment partner and will never contact your clients. Your clients remain YOUR clients, and YOUR brand gets the accolades, while we do all the work!

As a CorpNet Referral Program partner, you can refer your clients to a trusted resource for incorporation, LLC filings, registered agent services, and annual corporate compliance and monitoring in any state. You refer the client to us; we’ll do all the work and send you a check. Or, you can waive your commissions and “pass the savings” as a discount directly to your clients. You are assigned a dedicated account manager, who is available to you 24/7 and will treat your clients with white-glove treatment. Can anyone join the CorpNet Partner Program? Both the CorpNet Reseller and Referral Programs are potential opportunities for anyone representing clients in need of business formation filings and compliance services. We created it especially with the following professionals in mind:

• Accountants
• CPAs
• Bookkeepers
• QuickBooks Pro-advisors
• Attorneys
• Tax professionals
• Business coaches and consultants

Please note: We are selective in our screening process to ensure a good fit. We believe the best relationships are fruitful and beneficial to all parties!

Is there a fee to join CorpNet’s Partner Program?

There are NO fees—set up or annual membership fees—required to be either a CorpNet Reseller or a Referral Program partner. Sign-up is free, and the program is here for you to utilize as you need it for your clients. Am I eligible to receive discounted pricing as a CorpNet Partner Program partner? Anyone who joins the program is eligible to purchase our services at a wholesale discounted pricing of up to 30% as a Reseller and receive a referral fee of up to 30 percent. As a Referral partner, you also have the option to pass the discount to your clients should you choose not to receive a referral fee. How can I learn more out about the rates for your online business filing services? All fees for all products and services published on the CorpNet.com website is at retail rates. We can send wholesale pricing to you when you sign up for the program and we’ve on-boarded you.

How is the CorpNet Partner Reseller Program wholesale pricing determined?

We determine wholesale pricing by the volume of services you send to CorpNet to fulfill on your behalf. As a new Resale partner, wholesale pricing starts at 20 percent of our retail services fees and can go all the way up to 50 percent depending on the volume of CorpNet services that you sell.Wholesale pricing is available to anyone who joins the CorpNet Partner Program as a Reseller.

What is the fee for your CorpNet Reseller Program?

There is no fee to join the CorpNet Reseller Program. As a Reseller, you can receive wholesale pricing for all CorpNet products and services up to 30 percent off the retail prices published on our website. If you like, you can request that we remove all CorpNet branding from the documentation we forward to you so that you can put your own logo and branding when you forward the forms and information to your clients. Simply stated, the CorpNet Partner Reseller Program is designed to allow you to offer incorporation, LLC filings, and annual corporate compliance and monitoring services to your clients under your own name brand. You purchase the services from CorpNet at wholesale pricing, and we do all the fulfillment and back-end work for you.

Can I join the program as both a Reseller and a Referral partner?

We’ve made the program super flexible and have designed it to augment and enhance your advisory services in whatever way will provide the most fluid process. In short, YES! You can join the program both as a Reseller and as a Referral partner and use either program as it suits your needs to help your clients.

For example, a CorpNet partner may choose to advise some high-value clients and offer filing services, using CorpNet as a fulfillment agent. In other cases, that same partner may decide that for other clients, referring them to CorpNet makes more sense for all parties.

Are there any requirements to maintain a certain level of sales volume per month to be eligible for the program?

No, you are not required to reach or maintain a minimum threshold to participate. As I mentioned before, we created our program to meet your needs as your clients require the business incorporation, LLC filings, and corporate compliance services.

If I’m a CorpNet Reseller, does CorpNet ever contact my clients?

Absolutely not! CorpNet wants to help you strengthen and provide additional value to YOUR clients. We provide you with private label services, a dedicated account manager, and fast, reliable, accurate, and personalized services. As your silent fulfillment partner, we will NEVER contact your clients.

Does the client work directly with CorpNet if I’m signed up as a Referral Partner? And, if so, can I still be in the loop?

As a Referral Program partner, you refer your clients to us, and we contact them and provide unsurpassed customer service. We can always copy you on all communications with your clients and keep you fully appraised every step of the filing process.

When I’m a Reseller or Referral Program Partner, are you able to provide me with marketing material to market your services to our clients?

We have a plethora of marketing materials available for you to download and use in addition to online tools (like widgets and banners), which you can use to market the services to your clients. You can either promote them as your own branded services or use the CorpNet brand.

As a CorpNet Reseller, am I allowed to charge my clients whatever I want when re-selling your services?

Yes, you are allowed to charge your clients whatever fees you see fit for any services that you purchase from CorpNet, regardless of how much you pay to CorpNet as a wholesaler.

When do I get my commissions?

CorpNet calculates commissions on the last day of the following month for any given period. We usually issue commission checks within 72 hours of that day. So, if you refer clients to CorpNet and they make a purchase in month 1, we will calculate all sales, refunds, and commissions due for that month 1 period on the last day of month 2. Your commission check is then mailed out during the first week of month 3.

What if I don’t get credit for a sale that SHOULD have been a referral?

Call us, and we’ll make it right. Remember, we want to keep our partners happy. Our mission is to “WOW” you (and your clients) with our pro-active and experienced team of business filings experts who understand your needs and preferences.

How do you keep track of referrals?

When a user clicks your link with your unique partner ID, a cookie is stored on that user’s device. All purchases made at www.CorpNet.com from that device will list you as the referral source.

Do you have errors and omissions insurance?

CorpNet maintains the highest levels of errors and omissions insurance. Our team prides itself on continuously providing our clients with clear, transparent, open and accurate information when it comes to the business formation, filings and compliance process.

Is the team at CorpNet attorneys?

CorpNet is a document filing service and does not provide legal,tax, or financial advice. An attorney husband-and-wife team founded our company. Having been in the industry for over 25 years, they are known as pioneers of the document filing industry. Although our company does not offer legal advisory services, we work with a team of attorneys, in every state, who routinely review all of our forms and filings for clarity, transparency, and accuracy.

As a CPA or financial advisor, wouldn’t it be the practice of law to offer and advise clients on business incorporation and compliance filing services?

It is NOT considered the practice of law to advise your clients on which entity to structure their businesses under for the best tax implications. In fact, an accountant, CPA, or financial advisor is in the best position to advise their client about which entity structure and which state of registration will give clients the best tax consequences.

Yes, if your clients need legal advice, they should speak with an attorney. However, filing business formation and compliance documents does not by law require a lawyer. You can save your clients time and money by using CorpNet’s services instead of that purpose. We can get it done quickly and accurately, using a seamless process.

As an attorney, why should I join the CorpNet Partner Program?

In light of how easy it has become to start or incorporate a business online these days, new startups sometimes steer clear of attorneys. The general perception is that lawyers charge a lot of money and require a lot of time to file business formation and compliance documents for their clients.

As an attorney, however, you can join the CorpNet partner program and keep your clients from going elsewhere. By offering our services, you can set affordable fees to prepare and submit clients’ registration and compliance paperwork. Plus, you’ll be able to get filings done faster by using CorpNet as your back-end fulfillment partner. As a CorpNet Reseller, you add an additional revenue stream to your practice if you don’t already offer filing services to your clients. You also have the option of referring your clients to a CorpNet instead if that’s a better fit for your business.

By joining the CorpNet Partner Program, you’ll enhance your reputation as a trusted advisor who is looking out for your clients’ best interests. We can help you increase your client base, and we’ll help you keep your existing clients happy by getting their filings done quickly and error-free.

Why would we need to use your services? After all, my clients or I can do it on our own through the Secretary of State websites?

Well, you certainly can do it on your own. However, in doing so, you run the risk of making errors and having your filings rejected because of inaccurate information.

For example, the state may reject a filing if a client fails to complete a required field or check an incorrect box.

Rejected filings result in otherwise unnecessary fees and additional time. Instead, CorpNet can take care of everything and make sure it’s done right the first time.

I already use one of your competitors; how do you differ?

There are many companies out there that are similar to ours. However, we are #1 in customer service. When you need help, you’ll never get an automated recording. With us, you’ll have a dedicated account representative who you can reach anytime through email, text, phone, or whatever you like. Your rep will walk you through the entire process and make sure everything is done right and done fast. You’ll find us highly personable, focused on your needs, and we offer competitive pricing. We guarantee your satisfaction!

I don’t have enough clients who need this service, how can you help me?

By adding CorpNet business incorporation and compliance services to your suite of services, you can start attracting more clients. Also, you’ll be able to engage clients earlier on in the startup process. As a result, you will have an opportunity to increase your revenue exponentially.

What if I would rather tell clients to look online for these services rather than handle them in-house?

Then it makes sense to become a Referral Program Partner! By doing so, you don’t have to get involved personally in your clients’ business filings; you refer them to us instead and earn a referral fee. Your clients get a trusted incorporation resource that provides them with fast, personalized service. And they’ll save a lot of money. All the while, you’ll enhance your reputation as a trusted advisor and open a new revenue stream for your business.

Besides the revenue potential, what other benefits can I expect from the CorpNet Partner Program?

As a CorpNet Partner, you will differentiate your business from your competitors and give customers more reasons to rely on your expertise. Moreover, you can increase customer interactions and boost customer satisfaction.

Earlier this year, I presented two webinars that feature the CorpNet Partner Program and its benefits:

• Increase Revenue & Client Satisfaction Without Increasing Overhead or Staff – This webinar explains the Partner Program and how it enables accountants to expand their services quickly and with minimal effort. Although we geared it toward accountants, the webinar offers information that all professionals will find helpful.
• How to Maximize Your Revenues as a CorpNet Affiliate or Partner Offering CorpNet’s Products and Services – This webinar shares how participants in our Partner Program can get maximal value from it. You’ll find information about CorpNet’s tools and tips for marketing our services to your target audience.

I invite you to watch them to find out more about how our program can benefit you and your clients. The CorpNet Partner Program is a win for all involved.

Sign up today to get started!

The post The CorpNet Partner Program Opens a New Revenue Stream for Your Business— Without Adding Overhead appeared first on CorpNet.

I recently presented two webinars about the CorpNet Partner Program:

• Increase Revenue & Client Satisfaction Without Increasing Overhead or Staff – Which explains the Partner Program and how it enables accountants to expand their services quickly and with minimal effort.
• How to Maximize Your Revenues as a CorpNet Affiliate or Partner Offering CorpNet’s Products and Services – Which shares how participants in our Partner Program can get maximal value from it.

These webinars provide detailed information about the CorpNet Partner Program and how it can help your business. I invite you to watch and listen to them, so you get the full breadth of what they offer.

In the meantime, I’ll share some of the most important points from them so that you can better understand how the CorpNet Partner Program can be a win-win for you and your clients. Keep in mind that while the first webinar is geared toward accounting professionals, the Partner Program is also open to attorneys, business consultants, and other types of professionals and businesses for which CorpNet’s services make a good complement to their current offerings.

Top Business Benefits of the CorpNet Partner Program

How can the CorpNet Partner program help accountants overcome some of the most common business challenges?

• It enables you to differentiate your business from your competitors and gives customers more reasons to rely on your expertise.
• It helps you improve customer satisfaction – Only 67 percent of small businesses are satisfied with their accountant.
• It increases client interactions

How the Partner Program Expands Your Services and Revenue?

The CorpNet Partner Program allows you to be proactive rather than reactive in helping your clients by offering CorpNet’s business formation and compliance monitoring to your advisory services.

It enables you to provide additional value to your clients and add revenue to your bottom line without additional overhead or loading more work to your plate.

Why the Partner Program is a Good Fit for Your Business

Clients often look to their accountants as a key source of incorporation information. As they seek to assess which business structure and state of formation will give them the most favorable tax treatment, they naturally gravitate to their trusted tax advisor.

So, you’re already providing consultation and pointing clients to resources, but with the CorpNet Partner Program, you become a resource that can help them register their companies and keep them compliant. Best of all, while you’re helping your clients save time and money in starting and running their businesses, you open a new revenue stream for your business.

How the Partner Program Offers Value to Your Clients

With the CorpNet Partner Program, you go beyond just advising clients on the best business structure for tax purposes to also helping them file the paperwork necessary to register their business entity type and comply with ongoing filing requirements.

This helps your accounting clients:

• Gain trust and respect professionally
• Keep their business compliant
• Reduce the risks of being audited
• Position them to raise capital to fuel their growth
• Save money because they can decrease their dependence on their attorney

In running CorpNet.com, I see how much clients need an accountant’s guidance on business formation and compliance. As a document filing service, CorpNet cannot provide tax or legal advice, so we regularly refer customers to their accountants and lawyers for direction on choosing a business structure. As an accountant, you may not provide legal advice to clients. However, in many instances, it’s the tax ramifications that our customers are most concerned about, and CPAs are allowed to advise about optimal business structures and state of formation for the purpose of minimizing tax liability.

So when your clients come to you about which will be the best entity structure to maximize tax savings, doesn’t it make sense to be able to help them file the required forms, as well? You can safely help your clients do this, and earn revenue for your company in the process.

How Business Formation and Compliance Management Services Add Revenue and Profit to Your Bottom Line

Whether you’re a self-employed Quickbooks advisor, owner of a small CPA office, or a CEO of a large accounting firm, the CorpNet Partner Program gives you two options for generating additional revenue.

CorpNet Reseller Option

If you choose to resell CorpNet’s formation and compliance products, we serve as your silent fulfillment partner. We give you fixed wholesale pricing on all of our formation and compliance services, which you can mark up to your desired price points and brand as your own. Your client orders through you, and we take care of all the grunt work behind the scenes.

CorpNet has established suggested pricing for resellers of CorpNet’s white-label services:

Limited Liability Company Set-up, DBA Registration, Licensing, Tax Permits, and Compliance
Standard Processing (Typically 20-30 business days)	$1,000
Expedited Processing (Typically 10-15 business days)	$1,200
24-Hour Rush Processing (Typically 2-3 business days)	$1,500
Corporation (C-Corp/S-Corp) Set-up, DBA Registration, Licensing, Tax Permits, and Compliance
Standard Processing (Typically 20-30 business days)	$1,000
Expedited Processing Typically 10-15 business days)	$1,200
24-Hour Rush Processing (Typically 2-3 business days)	$1,500
Fictitious Business Name Registrations with Notice of Publication (aka DBAs or FBNs)
Standard Processing (Typically 20-30 Business days)	$500*

All pricing excludes state government fees.
*Includes notice of publication.

What revenue and profit might you expect monthly? It will depend on what you charge your clients and how many formation and compliance services you sell each month.

For example, someone who is not a CPA and runs a one-person bookkeeping or business consulting business might sell one LLC package per month (standard processing) and charge $750 (not including state and government fees). After CorpNet’s wholesale fee of $250, that professional will have made a profit of $250.

In the case of a certified CPA or Quickbooks ProAdvisor with a small office, that business might sell, on average, four LLC packages per month (standard processing) at $1,000 (plus state and government fees) each. Revenue per month would be $4,000, and profit would be $3,000 (income minus CorpNet’s wholesale fees, totaling $1,000).

A larger accounting firm will likely sell a higher volume of LLC packages (standard processing). Say it would sell 20 LLC packages at $1,000 each (plus state and government fees). Its revenue would be $20,000 for the month, and its profit would be $15,000 (after CorpNet’s wholesale fees, totaling $5,000)

As you can see, there are many opportunities to earn significant income for your business with minimal time and effort on your part!

CorpNet Referral Partner

If you choose to refer your clients to CorpNet and have us directly interface with them, you can earn a commission from us (up to 25 percent) for every successful sale of a formation or compliance service.

CorpNet White Label Services and Products

• Incorporation and LLC Filings (LLC, Corporation, S Corporation, Professional Corporation)
• Business Licenses and Permits
• Registered Agent Services
• Annual Reports and Filings

We enable you to help your clients register and maintain their businesses in any or all of the 50 states in the USA.

How CorpNet Makes It Simple For You

Of course, we are here to help you gain a more thorough understanding of the filing requirements related to the various business entity types available to your clients.

We provide you with:

• A dedicated account manager, providing personalized support when onboarding and on an ongoing basis.
• Expert attention to your clients’ formation and compliance needs.
• Proactive alerts to clients’ upcoming filing requirements and due dates through our online Compliance Portal.
• Easy access to view and print official documents.
• Flexibility – If you’re interested in having a custom program designed exclusively for your company, we’ll be happy to collaborate on it.

Ways to Maximize Your Revenue from the CorpNet Partner Program

Often clients don’t realize everything that’s involved with formation and compliance.

Below, I’ve listed the many services (in all 50 states) that can generate revenue for your business when you partner with CorpNet:

• Business name searches
• Business name registrations
• Business name reservations
• Fictitious business name filings (DBAs)
• Business license searches and applications
• Reseller permit applications
• Federal Tax ID Number applications
• State revenue registrations
• Articles of amendment
• Reinstatements
• Initial report filings
• Meeting minutes
• Bylaws
• Annual meetings
• Annual statements
• Annual report filings
• Mergers
• Articles of dissolution
• Certificates of good standing

While some of these provide one-time revenue, others provide annual recurring revenue. As you can see from the chart below, different business entity types have different one-time filings and yearly filings required of them.

Tips to Maximize Recurring Revenue from Ongoing Compliance Services

Here are some suggestions to help you raise awareness of your expanded offerings and gain customer confidence in them:

• Focus on your specific audience and think through the compliance requirements they are currently missing – Think about whom you serve, the compliance requirements they need to manage, and what they might not be aware of.
• Provide high-quality content to educate your audience about ongoing compliance requirements – Use tools to help brainstorm content ideas, leverage CorpNet’s free tools and resources, set up an editorial calendar, so you publish compliance information when it’s most relevant.
• Show your clients how simple it is to say compliant by using CorpNet’s Compliance Portal.

CorpNet Educational Materials and Self-Service Tools

We’re here to help you every step of the way! CorpNet has a number of free resources and tools available to help you and your clients:

• Starting a Business Checklist
• Business Structure Wizard
• Business Name Search
• Incorporation Guide
• LLC Guide
• Filing a DBA Guide
• CorpNet’s free Compliance Portal
• Guide to Getting Press Coverage
• How to Start a Blog
• Templates for meeting minutes and more – These are all available for you to share with your clients for free. We can even customize templates (for a small fee) for specific states if needed.

Marketing Your Formation and Compliance Management Services

As with any new service offering, effective marketing of your formation and compliance services will fuel your success.

Promotional Materials and Support

CorpNet makes it easy to promote the services you’re offering as a CorpNet reseller or referral partner. We offer tools to streamline your marketing efforts, including affiliate banners that have proven success in making sales conversions.

Blogging

One of the most effective ways that we’ve found to market our formation and compliance services is through blogging. Although you might be uncertain about determining blog topics that will engage your audience, I assure you there are ways to make it a painless process.

My second webinar shares about some tools that will help you in your topic brainstorming efforts:

• Answer the Public
• Quora
• KW Finder

I also encourage you to consider using tools like MeetEdgar and dlvr.it that will help you automatically share and reshare your content to your social media profiles. They make it easier to consistently stay top of mind with your audience and drive traffic to your website.

Client Intake Questionnaires

To make it easier for our partners to gather the information they need from clients when selling them LLC and Corporation formation packages, we’ve created client intake questionnaires. These questionnaires eliminate guesswork and facilitate a smooth order process.

LLC Client Intake Questionnaire

1. What state will the LLC be formed within?
2. Is this a new business registration?
3. What is the business name for the LLC?
4. What will be the business activity of the LLC?
5. What is the business address for the LLC?
6. Who will be the registered agent for the LLC and what are their name and physical address (No PO Box or PMBs allowed)?
7. How many members will the LLC have and their legal names?
8. Will there be any employees? If so how many? What are the estimated hire date and the total estimated salary paid within 12 months of formation?
9. What is the fiscal year date for the business? Default is 12/31 unless specified otherwise
10. Will the LLC be filing a DBA tradename for this entity?

Corporation Client Intake Questionnaire

1. What state will the Corporation be formed within?
2. Is this a new business registration?
3. What is the business name for the Corporation?
4. What will be the business activity of the Corporation?
5. What is the business address for the Corporation?
6. Who will be the registered agent for the Corporation and what is their name and physical address (No PO Box or PMBs allowed)?
7. How many shareholders will the Corporation have and their legal names
8. Will there be any employees? If so how many? What are the estimated hire date and the total estimated salary paid within 12 months of formation?
9. What is the fiscal year date for the business? Default is 12/31 unless specified otherwise.
10. Will the Corporation be filing a DBA tradename for this entity?
11. How many shares will the Corporation be authorized to issue for this
    Corporation (Default is 1,500)?
12. What will be the par valuation per share (Default is $0.01 par value)?
13. Will there be an S Corporation tax designation made for this Corporation?

Ready to Partner with CorpNet and Grow Your Business?

Now that you’re aware of how the CorpNet Partner Program can benefit your business and your clients, I hope you’ll watch the first and second webinar to learn more and contact us with any questions.

Whether your interest lies in being a reseller or a referral partner, we’re here to help you enhance your value to your clients and increase your profitability.

The post How CorpNet’s Partner Program Helps Professionals Increase Revenue Without Adding Overhead appeared first on CorpNet.