Online Incorporation MaxBlog

There are countless reasons why having a registered agent is an essential component in forming an LLC. The first being it is legally required in most states. It doesn’t get much more necessary than that.

However, the what a registered agent does for a company is what really makes them valuable when starting your own business, and choosing an agent that is professional and experienced can mean the difference between the success and failure of your business venture.

Services offered by Registered Agents

When searching for a registered agent for your corporation or LLC, keep in mind these basic services they should offer:

• Legitimate Work Office. It’s important that your registered agent has an office that is staffed from 8am to 5pm, Monday through Friday. Why? Because a lawsuit can be served any time during regular business hours, and if your agent isn’t there to sign the document you may lose the case by default.
• Mail Forwarding. Make sure your registered agent includes unlimited forwarding of government and legal paperwork in their services. Most legal documents related to your business will first be sent to your registered agent, including correspondence from the federal government and IRS, so ask your agent if there are any restrictions or fees involved in having these important files sent to you.
• Information Shielding. A registered agent is also there to be a security buffer by using their address as the director’s and managing members’ address. Besides being a shield against piles of unwanted junk mail, this service offers business owners much needed privacy, especially from attorneys seeking a lawsuit who can use information like addresses and names to attach your personal assets to the case.
• Compliance Management. If you’ve ever formed an LLC, or incorporated, then you are painfully aware of the many loops you have to jump through to make sure your business is in accordance with federal and state laws. A quality registered agent will be deeply knowledgeable about the proper filing procedure in their state, and make sure that your company is in full compliance with the law.
• Document Organization. The more your business grows, the less you will want to spend your valuable time sorting through troublesome paperwork—Articles of Incorporation, Bylaws, Operating Agreement, company minutes, state reports, etc. A registered agent’s job is to keep secure copies of these important documents for when you need them. Some agencies even scan them into a computer, so you can access them online via a secure server in a matter of minutes.  

Particular procedures for appointing a registered agent vary. In some states, you can even serve as your own registered agent. However, this is not recommended because in the event that you are served, the lawsuit can be presented directly to you at your place of business, in front customers and employees.

Also, depending on the state you are incorporating in, a registered agent may go by a different name, such as: Resident Agent, Statutory Agent, or Agent for Service of Process.

Find a professional registered agent that offers all of these benefits and more by signing up for Max Filings’ business incorporation services.

When you’re starting a business, it can be very easy to get overwhelmed with the details. You have to worry about the products and services you are going to provide, as well as sales, the need for office space or a store front, and all of the paperwork it takes to get a business going and keep accurate files.

We aren’t talking about the physical tools right now, though. In the modern world, the tools you need to start a business are less tangible, but in some cases just as important.

Do you have a great website?

Even if you plan to open a store front in a small, word-of-mouth type town, you can’t operate in the modern business world without a great website. Your prospects may drive by your building and see your sign, but they will often want to learn more about you before they give you their patronage, and when they seek this information, they’ll head to the internet.

With the prevalence of review and opinion websites out there, chances are someone is going to talk about you. If you don’t have your own official website for your company, then the reviews will be the only thing prospective clients can find when they do the online search.

Now imagine a misunderstanding causes someone to post a bad review of your business. That bad review can end up taking the number one spot in the search engines, so that when someone goes online to learn about your business they get a message crafted by someone unhappy with their experience.

Create an official website when you start your business, though, and you’ll be the one in control of the message.

Are you incorporated?

You may think that crafting items in your home or providing on-site services is something you can do on a freelance basis without creating a business entity, but that’s far too risky a prospect to be practical for most businesses.

It’s incredibly easy these days to incorporate online, and the benefits cannot be overstated. When you form an LLC, for example, you legally separate your business assets from your personal ones. Though you are keeping your eye on success, it’s never a wise idea to jump without a net, and operating a business without incorporating is exactly that.

Keeping your business and personal holdings separate with the use of a business entity means that should the worst come to pass and your business fails or ends up on the wrong side of a legal battle, your home and property is protected. If you don’t make sure to have this type of legal separation, everything you own is legally tied to your business, and it all becomes fair game should you end up paying a settlement or filing for bankruptcy.

Do you need a registered agent?

The process of building a business will keep you busy, and if you are planning to operate in a state outside of the one in which you reside, forming your business may require quite a bit of travel, unless you obtain a registered agent.

A registered agent serves as your representative for out-of-state business operations. He or she stands in for you in all legal matters during the process of forming your business. Some may choose to let an employee or family member serve in this capacity, but a professional registered agent carries many more benefits.

These professionals are registered with the state and familiar with all of the legal wrangling it will take to protect your business operations outside of your home state.

When you are ready to start a business, the tools you need will be many, but with the right planning you can effectively and successfully meet your goals.

While you don’t have to be a computer expert to start a small business, IT planning is a necessary step.  Unless you are already a computer guru, though, you may not know where to start.

This three step process isn’t exactly simple, but at the end you have a working list of your IT needs as well as an inventory that can be used for future planning and budgeting.

Step 1: Equipment Inventory

If you’re already in possession of any resources at all — be it a functional computer in need of upgrades or an old printer you can pull out of the garage — maintaining a detailed inventory is key to keeping track of the resources needed for your small business.

IT inventories should generally be as detailed as possible, but don’t worry about that too much right now. Getting on the right track with documenting your purchases just makes planning easier in the future.

Divide your resources into two main sections for hardware and software.

Include the following hardware details, if available:

• Item type/purpose
• Manufacturer
• Model number
• Date of purchase
• Vendor
• Technical specifications
• Warranty information
• Cost of item
• Expected life of item (with a little internet research you can often find this information via product reviews or other sources)

And for software:

• Software name/edition
• System requirements
• Registration key
• Number of licenses owned and license numbers
• Date of purchase

Gathering some of the above information will require a bit of research, but that just means your future IT purchases will be more informed.

Step 2: Needs Assessment

Now you know what you have. Time to look for the gaps that need filling.

Create a document that includes the following columns:

• Item name
• Item type
• Item cost
• Additional notes

Treat your needs assessment as a wish list and include everything you can think of that might make life easier for your small business.

IT wants versus needs will get sorted out in your budget.

Considerations for a business with a retail storefront:

• A cash register or a desktop computer with point of sale software
• A printer to generate receipts and sales reports

Considerations for any type of small business:

• IT outsourcing if you aren’t a computer guru yourself
• The number of work stations you will need
• Internet services and website design
• A database or other method for tracking retail inventory
• Accounting software to ensure accurate record-keeping
• Software options for compiling mailing lists and customer contact information

Additional considerations:

• When purchasing a new, pre-built workstation, a mouse and keyboard will generally be provided. However if a laptop is purchased as a primary workstation, you may want to consider adding an external mouse and keyboard, if not a full docking station.

• Make sure you are not only accounting for the main piece of equipment or software, but also for any peripherals you may need. Printers don’t always ship with all of the necessary cables, and certain business software requires a yearly tech support charge.

•  When purchasing software to be used on more than one workstation, there are almost always multiple license fees to be considered.

Step 3: Budgeting

Now that you’ve compiled a full assessment of your small business’s IT needs, you’ll be heading back to the internet to do a bit more research.

Search for every item on your needs assessment, select the brand and version you prefer, and write down the price of each selection using the four-column list you made in step two. Use the “additional notes” column to store links to the websites where you found each item.

With pricing at hand, pare down the list until the total fits your finances. Eliminate items you can do without, and consider where you might save by buying a lower-end or refurbished piece of hardware.

As you make physical purchases, don’t forget to add them to your inventory.

Doing Your Research Now Saves Time and Money Later

As you work through this process you will become more comfortable with the technology in your office, or you may decide you’d rather look into outsourcing.  Don’t worry; sometimes hiring a professional is the best thing for your small business.

IT consultants are no different than accountants or registered agents. They handle the details so that you can focus on the big picture: making your small business a success.

Have an idea for a business but unable to secure the needed financing? The threshold for borrowing from banks has gotten tighter in recent months. And, it’s best to avoid high-interest options like credit cards and predatory lending.

Micro-lending is an option available to moderate and low income entrepreneurs. Funds from micro-loans can be used for a wide range of startup and operating costs like purchasing equipment, marketing, licensing fees and insurance to name a few.

Micro-loans through the U.S. Small Business Administration (SBA) average around $13,000 while the maximum you can borrow is $35,000. Repayment takes no more than six years and interest rates vary depending on the intermediary lender but generally are between 8 and 13 percent.

All credit decisions are made by an intermediary at the local level. If you’re interested in applying for a microloan, contact your local SBA microloan intermediary.

Accion USA is a non-profit, private sector source for microloans…they provide loans from $500 to $50,000 to business startups and small businesses. The average loan is $5500. They work one-on-one with you to help build a solid credit history and get your venture off the ground.

Kiva.org is an organization where individuals can donate small amounts (i.e. $25-$50) and see who it’s going to and how they’re using it. Choose an entrepreneur in either the U.S. or the third world to support – you can receive updates as to how they’re using the funds, their progress and even repayment.

After obtaining a micro-loan to get you started, online incorporation service MaxFIlings.com can help you form a corporation easily for minimal cost.

Ever browse through online incorporation articles and blogs and get confused by all of the terms they use? Maintaining focus on your business is difficult enough so having to decipher what a particular word means can be a major headache.

This is one of the main reasons why MaxFilings maintains a handy list of business incorporation terms. In addition to providing online incorporation services across the nation, the business terms list provides concise explanation of many common phrases such as apostille, liquidity, quorum, and so on.

The glossary of business terms is a small but very helpful part of the Knowledge Center at MaxFilings, an extensive resource for small business incorporation.

So the next time you want to briefly know what “pass-through taxation” means, use the glossary of business terms as your first source!