You’ve applied for 501(c)(3) tax exemption, and are waiting for your IRS determination letter. What can you do while you wait for it?
Obtaining your IRS determination letter is a crucial step to starting your nonprofit. Unfortunately, this magical document, … Read more
Today, I’ll be comparing the C-Corp vs. S-Corp tax classifications. You will have come across both of these terms as you structure your business, and it’s important to know the difference!
Before you read anything, understand this:
The first, … Read more
Here at Harbor Compliance, we don’t believe in cutting corners.
Business registration with the state should always be done diligently, so that your business or nonprofit obtains limited liability protection, and maintains good standing with the state.
That being … Read more
Understanding the difference between an LLC or S-Corp can be challenging for a small business owner. Neither is “better,” but when deciding, always consider your organization’s resources, mission, and plan for growth.
If you take one point away from this … Read more
One of our favorite types of businesses here at Harbor Compliance is the Social Enterprise. Social enterprises are for-profit businesses; however, their mission is to produce a measurable social or environmental benefit, rather than to maximize shareholder gains.
Our friends … Read more
Selecting a business structure as a solopreneur is less complicated then you might think. While there are plenty of confusing terms out there, such as “liability protection” and “tax structures,” you really have one decision, that of sole proprietor vs. … Read more
In life, getting rejected stinks.
When preparing your corporate documents, not filing timely or properly jeopardizes your “good standing.” Getting a filing rejected outright wastes your valuable time, and can even chalk up to a financial loss.
A rejection is … Read more
7/23/2014 – The Illinois Secretary of State is open once more, after a small fire shut down business filing services Tuesday.
7/22/2014 – The Illinois Secretary of State is closed today due to a small fire. Though the fire has been contained, the building is experiencing electrical issues and has no air conditioning.
As a result, the state is only able … Read more
As you plan your organization, you need to know when to incorporate the nonprofit. The decision has two factors: whether you should register as a nonprofit corporation in your state, and when, between concept and execution, to start with government … Read more