C-Corp vs. S-Corp: Which Makes Sense for Your Business?
Posted on
August 8, 2014, by James Gilmer in Business Compliance.
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
3 Ways to Save Money on Business Registration
Posted on
August 4, 2014, by James Gilmer in Business Compliance.
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 said, … Read more
LLC or S-Corp: Which Is Better for My Small Business?
Posted on
July 31, 2014, by James Gilmer in Business Compliance.
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 article, let it be … Read more
Social Enterprise Ideas Advance to Final Round
Posted on
July 30, 2014, by James Gilmer in Business Compliance.
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”
Posted on
July 29, 2014, by James Gilmer in Business Compliance.
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
Three Reasons Why A Rejected Filing Hurts Your Business
Posted on
July 24, 2014, by James Gilmer in Business Compliance.
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 not … Read more
Illinois Secretary of State Reopens After Fire
Posted on
July 23, 2014, by James Gilmer in Industry News.
7/23/2014 – The Illinois Secretary of State is open once more, after a small fire shut down business filing services Tuesday.
If you’re registering in Illinois, expect a bit of a delay, but normal processing times should resume shortly.… Read more
Illinois Secretary of State Closed Due to Small Fire
Posted on
July 22, 2014, by James Gilmer in Industry News.
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 to … Read more
When Should I Incorporate My Nonprofit?
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 paperwork. … Read more
UPDATE: New IRS Form 1023-EZ
On July 1, 2014, IRS Form 1023-EZ was released, give nonprofits a new way of applying for federal tax exemption under 501(c)(3).
At the time of the announcement, there was much uncertainty about the effectiveness and desired outcomes of this … Read more