Blog

Annual List Checklist

Important Nevada Forms Changes

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The Nevada Secretary of State has changed renewal forms as well as many other filing forms. Most of the new ones were revised in January, but only recently uploaded when they began implementing their new filing system.

We have been notified by the Secretary of State’s office that they are unable to provide us with pre-populated renewal forms (all previous filed information filled in).

At this time their new filing system is still not fully functional. However, Annual Lists may be filed online. As with many states, we believe the goal has been to have the majority of renewals, if not all, filed online.

As of today they are over a month behind on Annual List filings that were hand delivered. To view processing dates see link below.

https://www.nvsos.gov/sos/businesses/processing-dates

To file your Annual Lists online with the state go to the link below.

https://www.nvsilverflume.gov

If you need assistance, please call us at (888) 274-1130.

Annual List Checklist

Contributed by Deanna Kelly, Office Manager

In order to help our clients with their annual renewal and avoid late fees here are a few helpful hints when submitting paper filings.

– Always read through the letter and the information included with your renewal for any changes in procedure.

– Check your list for any changes you want made (names, titles).

– Check the spelling in names on the list in case the state’s records are incorrect.

If any changes are needed, draw a line through the name and write the new name or corrected name above the incorrect or lined out name (BLACK INK AND NO HIGHLIGHTING).

– Corporations: Make sure each office (Pres., Sec., Treasurer and Director) has the name of a person. No office may be left blank. One person may hold multiple positions or be all.

– LLCs: Mark a title for each Manager or Managing Member on the list.

– Sign at the bottom and fill in title and date.

When completed return your Annual List to us along with your renewal payments and we will hand-deliver it to the state for you (no additional charge). We will then return a filed copy via email when we receive it back from the state.

Remember you may renew online with us and the Secretary of State. Once our payment has been submitted you will receive a confirmation with a link to the Secretary of State where you must file your Annual List. Be sure to print a filed copy and receipt when you have processed your payment.

As always, no question is a bad question. The more knowledgable you are, the easier our job is. If you have any questions, we are always here to help.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Asset Protection

Changes to Tax Code That Make LLCs and S Corps More Attractive

, , , , , , ,

business-idea-831053_1280

With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Covering Your Assets- Important Formalities

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If you have a Corporation, chances are at some point you heard or read information about why you should incorporate your business. The most important reason is to separate your personal assets from your business assets. Corporations are considered a first line of defense. Another reason is the tax benefits. There are numerous deductions available to Corporations that are not available to Sole Proprietorships, for example.

But here’s the thing- if you have not taken the steps to complete certain corporate formalities, your assets are like low hanging fruit just waiting to be picked.

Hopefully your business will never be sued or have to endure an IRS audit. We assure you it is not our intent to frighten you with this post. We simply want to remind you again about these formalities as a preventative measure.

Let’s review a couple of these formalities:

Issuing Stock– Perhaps you and family members or friends are “said owners” of the business. However, did you prepare the Resolution(s), fill out stock certificates and document it in your corporate records? If not, you could have a serious problem down the line.

Here’s why- if your business is sued and there’s no formal record of having issued stock, you have given the court evidence to rule that it’s not a “valid Corporation”. A valid Corporation would have shareholders. If it’s not valid, how can you argue that a corporate veil exists?

SPECIAL NOTE: Nevada allows you to issue stock for services, property, capital, real estate or anything! It’s up the Directors of the Corporation to decide. Per the Secretary of State “their decision is final”.

Maintaining Corporate Records– Keeping your corporate records updated is a must for preserving the corporate veil. Your corporate records are like the “life story” of actions that were of major business consequence to the Corporation. The Directors and Officers are merely conducting business on behalf of the Corporation and the records should reflect this.

For example, have you taken out a business loan? If so, the Corporation should have held a Special Meeting to discuss taking out the loan. Minutes of the meeting should have been prepared, signed and placed in the Corporate Record Book. This helps prove it was the Corporation and not you personally that decided to take out the loan.

If your business is involved in a lawsuit and you have no corporate records, a court can determine that the Corporation was simply an “Alter Ego” of yourself; that is was not acting like a true Corporation; therefore, the corporate veil may be pierced.

We often hear “It’s a one-man operation. It’s just me so I don’t need a record book”. You still need to keep records even if it’s just you.

IRS Audits and Corporate Record Keeping

According to Sara Zaro, EA with Elite Bookkeeping & Tax Services,
“When the IRS conducts an audit on a Corporation, they will ask for the corporate record book. If you don’t have current records, the IRS can determine that your business is operating as a Sole Proprietorship and change the tax rules. In some cases it has cost the business thousands of dollars.”

You should consider your tax benefits as an asset that also needs to be protected.

Additional Note: While LLC record keeping isn’t quite as stringent, it is recommended that you still maintain similar-type records for anything of major business consequence.

If you have not tended to these formalities, you should do so now. The longer you wait the more challenging it will be to catch up.

We can provide you with a Corporate Record Book and assist with updating your records. Just give us a call and we’ll be happy to help.

Corporation Annual Minutes

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Asset Protection and Liability Insurance

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When starting and operating a business, asset protection is of the utmost importance. You don’t want to spend years building your business only to be wiped out from a lawsuit.

No matter what type of business entity you’re using, the next level of asset protection should be liability insurance. This is for a couple of reasons. First, liability insurance usually provides competent counsel to defend any lawsuit. With the enormous cost of litigation these days, even if you’re successful at winning, you may lose an exorbitant amount of capital defending yourself.

The other reason is that the face amount of the liability coverage is the first amount paid in the event a judgment is entered against you. However, you need to be sure you read and understand any restrictions and limitations when obtaining your liability policy.

Why Incorporate Your Business
https://americancorpenterprises.com/why.html

Other recommended reading regarding your corporate records and asset protection.
https://americancorpenterprises.blogspot.com/2011/12/penny-savedcan-be-fortune-lost.html?spref=bl

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Using an LLC for Real Estate Investing

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With the fallout of the real estate market the number of foreclosure sales is increasing dramatically. Many of those purchases are being made with the intent of renting the property rather than for owner occupancy.

LLCs are today’s number one choice for holding title to real estate. Owning either residential or commercial real estate can subject you to significant risk of a lawsuit. As we all know, accidents can happen any time. If someone gets seriously hurt on your property, you may find yourself being sued for damages.

One of the most common mistakes people make is assuming that since they have insurance that they are protected. Sometimes judgments can exceed the insurance coverage, or in some cases the insurance is denied. It’s important that you read your insurance policy thoroughly and understand the limitations.

The LLC is designed to protect your personal assets in the event of a lawsuit. You want to make sure that in the event of a lawsuit that the LLC is the defendant and not you personally.

Here are some things to keep in mind:

If you haven’t done so already, you may want to consider forming an LLC to hold title to your investment real estate. Remember to “not carry all of your eggs in one basket”.

You must sign a deed conveying the real estate to the LLC and record the deed in the county in which the property is located if you wish to transfer the property.

Make sure you are adequately covered with your insurance policy and that the LLC shows as the insured. Remember, the LLC is not you and you’re not it.

If you transfer the property into an LLC but you are making improvements on the property and an injury arises because of the work, you could be sued personally. You may want to hire a licensed contractor for things such as construction repairs, electrical work or plumbing, etc.

If you do hire someone to do significant repairs on your property, be sure to check them out thoroughly beforehand.
For information and assistance regarding forming an LLC, give us a call toll free at (888) 274-1130.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

1 2 3

Asset Protection. Business Startup

Changes to Tax Code That Make LLCs and S Corps More Attractive

, , , , , , ,

business-idea-831053_1280

With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

Documenting Your Business Activities

, , , , , , , , , , , , ,

As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Protect Yourself from Your Small Business

BUSINESS ACHIEVEMENT CENTER: Protect Yourself from Your Small Business: Contributed by Cassandra Jones, Esq. Houghton Jones, A.P.C.

Despite the economy, I have seen many people endeavoring in a small business lately. According to the US Census Bureau, Nevada has nearly fifty thousand businesses. Over 55% of those businesses have four or fewer employees. Small business really is the backbone of our community. Many people work hard to operate their business, and to take care of their employees and family.

What many small business fail to do, however, is to take advantage of the different business entities available in the state of Nevada. Instead, these small businesses operate as sole proprietors or general partnerships. A sole proprietor is any individual operating a business directly, without forming a business entity or registering with the secretary of state. Similarly, a general partnership is a group of people directly operating a business, without forming a business entity or registering with the secretary of state. A general partnership may or may not have a contract defining the rights between the partners. Read more…

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Why Should You Incorporate?

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Because of the length of time corporations have been in existence, there is a long record of statutory and case law which supports the use of a corporation for asset protection.

Consequently, corporations are traditionally considered for use as the “First Line of Defense” to accomplish the goal of limited liability. Following are some important attributes and advantages to a corporation which allow it to be used for limited liability as well as other purposes.

•The corporation is a totally separate entity from any individual- it is not you, and you are not it. This is important to remember in maintaining the limited liability protection. It must be treated as a separate individual

•A corporation can buy, sell, trade, own property, own stock, make loans, etc. and anything else that an individual can do; such actions are governed by the Board of Directors

•The shareholders of the corporation do not have to live in the state in which the corporation is domiciled. Fortunately, here in Nevada, neither do the Officers or Directors

•Corporations have perpetual existence- if a Director or Officer becomes deceased, the corporation will still exist, unlike with some other entities

•There are many tax deductions available to corporations, which are not available to other entities

•It is easy to transfer assets and ownership of a corporation

•Centralized management allows ease of doing business

•Full fringe benefits can be established through a corporation

•A corporation has all of the rights of an individual except for the Fifth Amendment

Please be advised that we are not engaged in rendering legal counsel or accounting services. If legal advise, or other such services and assistance is required, the services of a professional person in that area should be sought. At your request, however, we may consult with you and render our opinion based on our business experience.

American Corporate Enterprises works with and provides services to Attorneys, CPAs, Financial Consultants, etc. in order to meet the needs of our clients. We would be happy to refer you to such a professional at your request.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Blog

Important Nevada Forms Changes

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The Nevada Secretary of State has changed renewal forms as well as many other filing forms. Most of the new ones were revised in January, but only recently uploaded when they began implementing their new filing system.

We have been notified by the Secretary of State’s office that they are unable to provide us with pre-populated renewal forms (all previous filed information filled in).

At this time their new filing system is still not fully functional. However, Annual Lists may be filed online. As with many states, we believe the goal has been to have the majority of renewals, if not all, filed online.

As of today they are over a month behind on Annual List filings that were hand delivered. To view processing dates see link below.

https://www.nvsos.gov/sos/businesses/processing-dates

To file your Annual Lists online with the state go to the link below.

https://www.nvsilverflume.gov

If you need assistance, please call us at (888) 274-1130.

Changes to Filing Requirements for Nevada Commerce Tax

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news-636978_1280

Per notification from the Nevada Department of Taxation:

The filing requirement for the Nevada Commerce Tax has been changed. If the Nevada gross revenue of your business from July 1, 2018 through June 30, 2019 was $4,000,000 (FOUR MILLION) or less, your business is no longer required to file a Commerce Tax return and your Commerce Tax Account will be automatically closed.

If the Nevada gross revenue for your business form July 1, 2019 through June 30, 2019 was over $4,000,000, your business is still required to file a Commerce Tax return on or before August 14, 2019.

In the event that your Nevada gross revenue exceeds the $4,000,000 threshold in a future year, it is your responsibility to file a return for the year. Failure to do so may result in the assessment of penalty and interest.

If you have already filed the return, please disregard the informational message.

For more information about Commerce Tax, including the filing requirements, please visit the State of Nevada Department of Taxation’s website: https://tax.nv.gov/WelcometoCOM/

A Summary of Important Tax Developments

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Contributed by Elite Bookkeeping and Tax Services

The following is a summary of important tax developments that occurred in October, November and December of 2018 that may affect you, your family your investments, and your livelihood. Please call your tax adviser form more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the impact of those that are unfavorable.

Continue reading 

1 2 3 4›»

Bookkeeping and Taxes

Changes to Tax Code That Make LLCs and S Corps More Attractive

, , , , , , ,

business-idea-831053_1280

With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

Changes to Filing Requirements for Nevada Commerce Tax

, , ,

news-636978_1280

Per notification from the Nevada Department of Taxation:

The filing requirement for the Nevada Commerce Tax has been changed. If the Nevada gross revenue of your business from July 1, 2018 through June 30, 2019 was $4,000,000 (FOUR MILLION) or less, your business is no longer required to file a Commerce Tax return and your Commerce Tax Account will be automatically closed.

If the Nevada gross revenue for your business form July 1, 2019 through June 30, 2019 was over $4,000,000, your business is still required to file a Commerce Tax return on or before August 14, 2019.

In the event that your Nevada gross revenue exceeds the $4,000,000 threshold in a future year, it is your responsibility to file a return for the year. Failure to do so may result in the assessment of penalty and interest.

If you have already filed the return, please disregard the informational message.

For more information about Commerce Tax, including the filing requirements, please visit the State of Nevada Department of Taxation’s website: https://tax.nv.gov/WelcometoCOM/

A Summary of Important Tax Developments

,

Contributed by Elite Bookkeeping and Tax Services

The following is a summary of important tax developments that occurred in October, November and December of 2018 that may affect you, your family your investments, and your livelihood. Please call your tax adviser form more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the impact of those that are unfavorable.

Continue reading 

Reporting Requirements for Bartering

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Contributed by Elite Bookkeeping & Tax Services

Trading one product or service for another has become increasingly popular in recent years. If you barter, you should know that the value of products or services from bartering is taxable income. This is true even if you are not in business.

Here are some things you should know about bartering per the IRS:

  • Bartering income. Both parties must report the fair market value of the product or service they get as income on their tax return.
  • Barter exchanges. A barter exchange is an organized marketplace where members barter products or services. Some operate out of an office and others over the internet. All barter exchanges are required to issue Form 1099-B, Proceeds from Broker and Barter Exchange Transactions. Exchanges must give a copy of the form to its members who barter each year. They must also file a copy with the IRS.
  • Trade Dollars. Exchanges trade barter or trade dollars as their unit of exchange in most cases. Barter and trade dollars are the same as U.S. currency for tax purposes. If you earn trade and barter dollars, you must report the amount you earn on your tax return.
  • Tax implications. Bartering is taxable in the year it occurs. The tax rules may vary based on the type of bartering that takes place. Barterers may owe income taxes, self-employment taxes, employment taxes or excise taxes on their bartering income.
  • Reporting rules. How you report bartering on a tax return varies. If you are in a trade or business, you normally report it on Form 1040, Schedule C, Profit or Loss from Business.

For questions about bookkeeping or taxes contact Elite Bookkeeping & Services directly at (800) 416-3820. Visit their web site at https://www.elitebookkeeping.biz

Tax Return Checklist

For those of you who want to get a head start on gathering your tax information, here’s a helpful post by Elite Bookkeeping & Tax Services with a checklist to guide you.

https://elitebookkeepingtaxservices.blogspot.com/2013/11/tax-checklist.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

1 2 3

Business Expansion

How Will the TPP Affect Your Business?

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foreign-trade-62743_1280

Whether you’re for or against this agreement, experts concur that the Tran-Pacific Partnership (TPP) is an “absolute bear” that comes with a “mixed bag of pros and cons”. With 12 countries in its scope that account for 40% of the world’s GDP, 26% of the trade and 793 million consumers, it is said to be the world’s largest trade deal yet.  Previously that title was held by NAFTA.

Notably the agreement does not include China, which was an intentional move to balance their trade dominance as well as India’s in East Asia.

Who are the 12 countries?  Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

Proponents of the TPP tout that it eases trade barriers for small to medium-sized businesses by reducing red tape and corruption, and strengthening logistics. However, it is not without controversy, especially for tech companies that provide ISP and cloud storage services.

Furthermore, although it has new common standards for workers’ rights, there are questions about enforceability.

The International Trade Administration has information available on how the TPP is expected to impact every state in the U.S.  To find out about your state and the industries it will impact go to  https://trade.gov/fta/tpp/index.asp

Also the Office of the United States Trade Representative has TTP Fact Sheets on their web site at https://ustr.gov/trade-agreements/free-trade-agreements

Doing Business With States- Vendor and Procurement Resources

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Are you interested in doing business with other states? Below are links for vendor and procurement resources for you.

Your Corporation or LLC would need to be registered in those states in order to do business there. We can help you with forming domestic entities as well as filing as foreign entities in every state.

Alabama   https://purchasing.alabama.gov/Default.aspx

Alaska   https://doa.alaska.gov/dof/iris/vendor.html

Arizona   https://procure.az.gov/bso/

Arkansas   https://business.usa.gov/external-site?ccontent=https://www.dfa.arkansas.gov/offices/procurement/Pages/vendorInformation.aspx

California   https://www.dgs.ca.gov/pd/Home.aspx

Colorado   https://www.colorado.gov/pacific/osc/procurement-resources

Connecticut   https://das.ct.gov/cr1.aspx?page=8

Delaware   https://business.usa.gov/external-site?ccontent=https://mymarketplace.delaware.gov/

Florida https://www.dms.myflorida.com/business_operations/state_purchasing/public_procurement_professional_development

Georgia   https://doas.ga.gov/state-purchasing/suppliers

Hawaii   https://spo.hawaii.gov/

Idaho   https://purchasing.idaho.gov/

Illinois   https://www.illinois.gov/cms/business/procurement/Pages/default.aspx

Indiana   https://www.in.gov/idoa/2464.htm

Iowa   https://das.iowa.gov/procurement/vendors/how-do-business

Kansas   https://admin.ks.gov/offices/procurement-and-contracts/

Kentucky   https://finance.ky.gov/services/eprocurement/Pages/doingbusiness.aspx

Louisiana   https://wwwprd1.doa.louisiana.gov/OSP/LaPAC/pubMain.cfm

Maryland   https://emaryland.buyspeed.com/bso/

Massachusetts   https://www.mass.gov/anf/budget-taxes-and-procurement/oversight-agencies/osd/

Michigan   https://www.michigan.gov/micontractconnect

Minnesota   https://www.mn.gov/admin/government/purchasing-contracting/

Mississippi   https://www.mscpc.com/bid-opportunities/

Missouri   https://oa.mo.gov/purchasing#mogov-tabs-pane-4-tab-1

Montana   https://vendorresources.mt.gov/

Nebraska   https://das.nebraska.gov/materiel/purchase_bureau/vendor/vendor-info.html

Nevada   https://purchasing.state.nv.us/

New Jersey   https://www.nj.gov/njbusiness/contracting/

New Mexico   https://www.generalservices.state.nm.us/statepurchasing/

New York   https://nyspro.ogs.ny.gov/

North Carolina   https://www.doa.nc.gov/pandc/Default.aspx

North Dakota   https://www.nd.gov/spo/vendor/registry/

Ohio   https://business.ohio.gov/state/

Oklahoma   https://www.ok.gov/DCS/Central_Purchasing/Vendor_Registration/index.html

Oregon   https://www.oregon.gov/DAS/EGS/PS/pages/supplier_info.aspx

Pennsylvania   https://www.emarketplace.state.pa.us/

Rhode Island   https://www.purchasing.ri.gov/bidinfo/geninfo/geninfo.aspx

South Carolina   https://business.usa.gov/external-site?ccontent=https://procurement.sc.gov/PS/vendor/PS-vendor-new.phtm

South Dakota   https://boa.sd.gov/divisions/procurement/vendors/

Tennessee   https://www.tn.gov/generalservices/topic/vendor-information

Texas   https://www.texasbidsystem.com/

Utah   https://purchasing.utah.gov/vendorinformation.html

Vermont   https://bgs.vermont.gov/purchasing

Virginia   https://www.dmbe.virginia.gov/bid.html

Washington   https://www.des.wa.gov/services/ContractingPurchasing/Pages/default.aspx

West Virginia   https://www.state.wv.us/Admin/Purchase/vrc/default.html

Wisconsin   https://doa.wi.gov/Divisions/Enterprise-Operations/State-Bureau-of-Procurement

Wyoming   https://ai.wyo.gov/general-services/contracts–purchasing

Carson City Professional Office Space and Virtual Office Services

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For more information about Executive Office Suites or Virtual Office Services, contact Pinnacle Executive Suites at (775)884-6123 or visit their web site at
https://www.PinnacleExecutiveSuites.com

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

BUSINESS ACHIEVEMENT CENTER: Expanding Your Business With A Virtual Office

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BUSINESS ACHIEVEMENT CENTER: Expanding Your Business With A Virtual Office: “With the downturn in the economy we’ve certainly seen our share of businesses come and go across the U.S. As of late there has been a surge …”

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Use a Virtual Office as a Profitable Alternative to Paying High Rent

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Here is another example of how obtaining a Virtual Suite is beneficial to your business!

A money-saving service that is being used by many professionals today is the virtual office. With so many business professionals working from their homes or on the go, the virtual office has evolved into a popular alternative to leasing a permanent office. It provides a creative solution which benefits the small business owner tremendously.

What is a Virtual Office?

A virtual office gives small business owners a presence in the business world for a fraction of normal rental costs. It is an alternative to leasing an office space, which can be costly for a new business owner. Virtual office services may also provide a set of online tools to help manage the small business. Although virtual office services differ, below is a list of some of the most common features.

1. Physical Business Address

Clients are provided with their own physical mailing address where business mail and small packages can be received. Virtual offices are not typically used to receive heavy volumes of mail as in a mail order business, but normal business mail quantities only. Those who operate a business from their home can use the virtual office address instead of their home address, which provides a safe and professional way to receive mail. Mail to a virtual office can be forwarded to the client ‘s home address.

2. Local Phone Number

Virtual office services also include a local phone number where a business owner can receive calls and messages. Voice mail and forwarding are usually included so the client can check messages at any time. This works great for someone who works from home or does not wish to tie up a cell phone line if they are continuously on the go.

3. Fax Capabilities

Being able to receive faxes is important to any business. Faxes are used to conduct business, send reports, take orders and receive memos every day. Using the virtual office fax, the client receives faxes which can be forwarded directly to his/her email.

4. Office Access

Access to a desk or work station with Internet capabilities, office equipment and more is crucial for a business. This is available for those times when the client needs to organize a presentation before a conference or use the Internet or computer for business purposes.

5. Conference Room Access

Conference rooms are available for rent with some virtual office setups. The client can hold business meetings or give sales presentations without interruption.

6. Web Conference Room Access

Web conference rooms are available for virtual meetings. Rather than hold a physical meeting, the client can hold virtual business meetings or give virtual sales presentations. Virtual meetings have gained popularity in recent years because they save time and money while providing instant presentation opportunities. Some virtual office services offer this tool as an added service.

7. Online virtual tools

Online tools such as calendar, address book, webmail, document repository, to do ‘s , forums, digital fax and digital voice mail have become common among many large businesses. Some virtual office services offer these tools and others as an added service.

Who can benefit by using a Virtual Office?

People of all trades find virtual offices useful. Executives, salespeople, accountants, marketing consultants and online business owners each benefit by using a virtual office for certain tasks. Those who work from home and wish to establish a business presence find that a virtual office meets this need. Corporations also use virtual offices as a means of testing a business location before opening a new branch.

When renting an office is not an option, a virtual office can be used by small business owners to meet the daily needs while saving time and money.

For more information, we encourage you to visit our affiliate, Pinnacle Executive Suites – located in Carson City, NV:  Their mission statement is:  “Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at https://www.pinnacleexecutivesuites.com/“

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Business Management

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Amendments to Articles

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Contributed by Deanna Kelly, Office Manager

Before you file an Amendment to the Articles with the Secretary of State you have a couple things to consider:

• You will need signed Special Meeting Minutes and a Resolution in your book reflecting that the Board met and voted in favor of the Amendment.

• If you are changing the name of your corporation you will need to then update your corporate record book. You will need the new name on the book, the stock certificates & corporate seal.

You will also need to notify your bank, vendors and customers of the new name.

• If you are changing the amount or par value of the corporations stock you will need to replace and reissue stock certificates reflecting the current amount of stock/par value.

As always, record keeping is the life of your corporation. Any changes in the corporation need to be documented with a meeting, vote, minutes and a resolution. All need to be signed and placed in your corporate book behind the “Minutes” tab along with all your Annual Minutes in chronological order.

Should you need assistance with filing an Amendment or obtaining replacement stock certificates, etc. give us a call. We’ll be happy to help.

Other recommended reading

IRS Audits and Record Keeping
https://elitebookkeepingtaxservices.blogspot.com/2013/05/irs-audits-and-record-keeping.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Covering Your Assets- Important Formalities

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If you have a Corporation, chances are at some point you heard or read information about why you should incorporate your business. The most important reason is to separate your personal assets from your business assets. Corporations are considered a first line of defense. Another reason is the tax benefits. There are numerous deductions available to Corporations that are not available to Sole Proprietorships, for example.

But here’s the thing- if you have not taken the steps to complete certain corporate formalities, your assets are like low hanging fruit just waiting to be picked.

Hopefully your business will never be sued or have to endure an IRS audit. We assure you it is not our intent to frighten you with this post. We simply want to remind you again about these formalities as a preventative measure.

Let’s review a couple of these formalities:

Issuing Stock– Perhaps you and family members or friends are “said owners” of the business. However, did you prepare the Resolution(s), fill out stock certificates and document it in your corporate records? If not, you could have a serious problem down the line.

Here’s why- if your business is sued and there’s no formal record of having issued stock, you have given the court evidence to rule that it’s not a “valid Corporation”. A valid Corporation would have shareholders. If it’s not valid, how can you argue that a corporate veil exists?

SPECIAL NOTE: Nevada allows you to issue stock for services, property, capital, real estate or anything! It’s up the Directors of the Corporation to decide. Per the Secretary of State “their decision is final”.

Maintaining Corporate Records– Keeping your corporate records updated is a must for preserving the corporate veil. Your corporate records are like the “life story” of actions that were of major business consequence to the Corporation. The Directors and Officers are merely conducting business on behalf of the Corporation and the records should reflect this.

For example, have you taken out a business loan? If so, the Corporation should have held a Special Meeting to discuss taking out the loan. Minutes of the meeting should have been prepared, signed and placed in the Corporate Record Book. This helps prove it was the Corporation and not you personally that decided to take out the loan.

If your business is involved in a lawsuit and you have no corporate records, a court can determine that the Corporation was simply an “Alter Ego” of yourself; that is was not acting like a true Corporation; therefore, the corporate veil may be pierced.

We often hear “It’s a one-man operation. It’s just me so I don’t need a record book”. You still need to keep records even if it’s just you.

IRS Audits and Corporate Record Keeping

According to Sara Zaro, EA with Elite Bookkeeping & Tax Services,
“When the IRS conducts an audit on a Corporation, they will ask for the corporate record book. If you don’t have current records, the IRS can determine that your business is operating as a Sole Proprietorship and change the tax rules. In some cases it has cost the business thousands of dollars.”

You should consider your tax benefits as an asset that also needs to be protected.

Additional Note: While LLC record keeping isn’t quite as stringent, it is recommended that you still maintain similar-type records for anything of major business consequence.

If you have not tended to these formalities, you should do so now. The longer you wait the more challenging it will be to catch up.

We can provide you with a Corporate Record Book and assist with updating your records. Just give us a call and we’ll be happy to help.

Corporation Annual Minutes

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

BUSINESS ACHIEVEMENT CENTER BLOG: Pointers for Negotiating a Buy-Sell Agreement

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BUSINESS ACHIEVEMENT CENTER BLOG: Pointers for Negotiating a Buy-Sell Agreement: Contributed by Cassandra Jones, Esq. Houghton Jones, A.P.C. A Buy-Sell Agreement is the contract for sale of a business. It is vital th… Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Smartsourcing Requires A New Maturity Model

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Smartsourcing Requires A New Maturity Model

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

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Business news

How Will the TPP Affect Your Business?

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Whether you’re for or against this agreement, experts concur that the Tran-Pacific Partnership (TPP) is an “absolute bear” that comes with a “mixed bag of pros and cons”. With 12 countries in its scope that account for 40% of the world’s GDP, 26% of the trade and 793 million consumers, it is said to be the world’s largest trade deal yet.  Previously that title was held by NAFTA.

Notably the agreement does not include China, which was an intentional move to balance their trade dominance as well as India’s in East Asia.

Who are the 12 countries?  Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

Proponents of the TPP tout that it eases trade barriers for small to medium-sized businesses by reducing red tape and corruption, and strengthening logistics. However, it is not without controversy, especially for tech companies that provide ISP and cloud storage services.

Furthermore, although it has new common standards for workers’ rights, there are questions about enforceability.

The International Trade Administration has information available on how the TPP is expected to impact every state in the U.S.  To find out about your state and the industries it will impact go to  https://trade.gov/fta/tpp/index.asp

Also the Office of the United States Trade Representative has TTP Fact Sheets on their web site at https://ustr.gov/trade-agreements/free-trade-agreements

Securities Offerings- Online Filings Now Available in Nevada

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Nevada Secretary of State Barbara Cegavske’s office recently announced that they now accept online filings for certain exempt securities offerings. As a member of the North American Securities Administrators Association (NASAA), the goal is to provide a “safe harbor” for certain private offerings.

The Electronic Filing Depository (EFD) was developed by NASAA to allow an issuer to submit a Form D for a Regulation D, Rule 506 offering to state securities regulators and pay related fees. The public may search and view Form D filings free of charge at https://www.efdnasaa.org.

Read the Nevada Secretary of State’s announcement at https://nvsos.gov/index.aspx?recordid=1787&page=23

State Updates

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California- As of January 1, 2014 LLCs may no longer reserve names by phone. Requests must be made by mail or over the counter, but are not guaranteed due to filing processing times.

Florida- Under the revised LLC act, LLCs in existence as of January 1, 2014 will be governed under the revised act beginning January 1, 2015.

Hawaii- Fees for Tradenames (a.k.a. DBA, Assumed Name, and Fictitious Firm Name), Trademarks and Service Mark registrations have been temporarily reduced.

Iowa- Effective March 7, 2014, the words “Bank” and “Trust” are on the restricted word list.

Maine- Effective March 2, 2014, business entities are now allowed to use a short –form registration statement for securities. The form was created for the purpose of increasing funds for start-up companies.

Nevada- Effective January 1, 2014, registration of Benefit Corporations became available.

Effective July 1, 2014, all entities will be required to provide the name, telephone number and physical address of the custodian of the list of owners, as required by law. This will become part of the Annual List filings. Publicly- traded Corporations with a Central Index Key (CIK) number are exempt from this requirement, but must provide the CIK number on their Initial or Annual List.

Pennsylvania- Expedited filing service now available.

Washington- Effective June 12, 2014 Conversions will be allowed for Corporations and LLCs. LLCs may convert to a domestic Corporation and vice versa.

West Virginia- Beginning June 3, 2014, Cooperative Associations will no longer be required to have the Articles notarized.

New Rule Regarding Solicitation of Investors

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Yesterday the Nevada Secretary of State posted a media release regarding new regulations that went into effect regarding public solicitations for investors. The article warns that it could open the floodgate to a wave of securities fraud and that investors should educate themselves of the new rule- Regulation D Rule 506(c) of the Securities Act.

In April 2012 Congress passed the Jumpstart Our Business Startups (JOBS) Act, which changed the way that this rule allows offerings to be sold. According to the article private placement offerings of securities, such as stocks, bonds and other instruments are exempt from SEC registration requirements. Furthermore the state of Nevada does not review them for verification of information or level of risk.

Additionally it states that under this new rule companies are allowed to publicly solicit investors and advertise the sale of securities without registering the offering with either the SEC or any state if certain requirements are met. These investments may be sold via television commercials, newspaper ads, internet sales and cold calls.

“This rule change provides a new solicitation platform that is another avenue for swindlers to scam investors, so I urge investors to perform due diligence and thoroughly check the offerings before investing,” said Secretary Miller.

Previously such offerings were only made known through investment professionals or word of mouth. As a precaution to protect investors from fraud, they should fully understand the following:

• These offerings often involve companies with a limited history.
• There may not have been a regulatory background check of the sellers, managers or officers of the company issuing the investment.
• They often promise higher rates of return- and come with higher risk.
• These securities are generally illiquid, which means you may have a limited ability to get out of the investment and may hold it indefinitely.
• You may be offered less information than a public offering.
• No regulator has confirmed that the risk disclosure or information about the company is adequate.

Regulation D Rule 506 investments, if sold via advertisements or general solicitation, may only be sold to accredited investors. An accredited investor is:

• A natural person must have a net worth , exclusive of your primary residence, of more than $1 million, or
• Have had an income over $200,000 individually, or $300,000 with your spouse, in each of the last two years, and expect to earn the same amount this year.

For a complete summary of the proposed regulations that went into effect 9/23/13 go to https://www.sec.gov/rules/proposed/2013/33-9416.pdf.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775) 884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Benefit Corporations

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In May Nevada Governor Brian Sandoval signed a bill allowing companies to organize as a “Benefit Corporation”. The new law, which goes into effect January 1, 2014, also establishes a process whereby existing companies may restructure as one.

What is a Benefit Corporation?

It is a new class of corporation that is required to create a material positive impact on society and the environment while maintaining a higher level of accountability and transparency.

Unlike a traditional Corporation, they are allowed to consider obligations that have a social or environmental impact alongside profit. However, they are granted immunity from civil lawsuits for not putting profit first.

They are designed to harness the power of private enterprise for public benefit, provide greater transparency and greater protection. The tax requirements are still the same as with traditional corporations.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

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Business Planning

Changes to Tax Code That Make LLCs and S Corps More Attractive

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With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

What are Certified Trade Missions?

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Certified Trade Missions (CTMs) are overseas events planned, organized, recruited, and led by private and public sector export oriented groups outside of the U.S. Department of Commerce. These events are hosted by the U.S. Department of Commerce’s overseas Commercial Service Offices.

The purpose of CTMs is to bring representatives of U.S. companies into contact with potential agents, distributors, joint venture partners, licensees, local businesses, and government contracts.

Here are some things that are typically included in the CTMs:

  • one-on-one business appointments
  • market briefings
  • networking receptions
  • selective sessions on local business practices, site visits, or seminars

To find out more about guidelines and benefits of CTMs visit export.gov

11 Ways to Grow Your Business

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  1. Get online– More people are likely to go to the internet to search for businesses than ever before. It’s important to establish an online presence in order to maximize your exposure. Be sure to consider your long term plans for SEO before you establish a web site. Many companies offer free or low cost web sites, but much of the SEO tools are either not available or they do not directly benefit your company. Also many of them do not allow you to keep the domain if you decide to change service providers.
  2. Target new markets- Your current market may indeed be serving you well, but might there be others you can explore? Get creative and do some research.
  3. Diversify- This is a great way to increase your business as it creates additional streams of income that can increase sales and profit margins. Here are some examples:
    • Accept paid speaking engagements or start your own expert blog
    • Teach classes
    • Import others’ products and/or export yours
    • Sell products or services that compliment yours
  4. Form an alliance– Look for similar types of businesses or ones that offer complimentary services or products.
  5. Utilize an Executive Suite– If your business is growing, but you’re not quite in a position to hire full time staff, this can be an excellent stepping stone. Most come with built in staff that can assist with receptionist services and use of equipment that you may not be ready to purchase. As your business grows you can then take on additional sales and support staff to further grow. Many Fortune 500 companies use them to establish additional locations.
  6. License your product– If you have a service or branded product, this can be an effective and low cost growth strategy. Licensing helps you to open up additional forms of income without having the expense of starting another business.
  7. Franchise your business– This allows you to grow without directly having to manage new locations while also giving you an opportunity to improve in other ways.
  8. Open a second location– If your current business location is under control, you may consider establishing a second location.
  9. Obtain a government contract– This can be one of the best ways to grow your business.
  10. Merge or acquire another business– Look for companies that are similar or complimentary to yours. Your established clientele can grow exponentially by combining forces.
  11. Go global– Locate foreign distributors with a U.S. representative that can help you get your product distributed internationally.

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Smartsourcing Requires A New Maturity Model

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Smartsourcing Requires A New Maturity Model

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

1 2 3

Business Startup

Changes to Tax Code That Make LLCs and S Corps More Attractive

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With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

Business Financing and Incentives-Resources by State

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Are you in need of some business financing in your state? Here are links to resources for loans, grants and tax incentives for you.

Alabama   https://www.adeca.alabama.gov/Divisions/ced/cdp/Pages/SSBCI.aspx

Alaska   https://www.commerce.alaska.gov/web/ded/FIN.aspx

Arizona   https://www.azcommerce.com/start-up/incentives

Arkansas   https://www.arkansas.gov/adfa/SSBCI/SSBCI.htm

California   https://www.business.ca.gov/StartaBusiness/FinancingYourBusiness.aspx

Colorado   https://www.advancecolorado.com/funding-incentives

Connecticut   https://www.ct.gov/ecd/cwp/view.asp?a=1097&q=253520&ecdNav=|

Delaware   https://delaware.gov/topics/startasmallbusiness.shtml

Florida   https://www.enterpriseflorida.com/why-florida/business-climate/incentives/

Georgia   https://www.georgia.org/small-business/finance/

Hawaii   https://invest.hawaii.gov/business/financing/

Idaho  https://business.idaho.gov/

Illinois    https://www.illinois.gov/Business/Pages/financetaxes.aspx

Indiana   https://iedc.in.gov/programs-initiatives

Iowa   https://www.iasourcelink.com/funding

Kansas   https://www.kansas.gov/business/funding.html#

Kentucky   https://thinkkentucky.com/KYEDC/kybizince.aspx#SmallBusiness

Louisiana   https://www.opportunitylouisiana.com/incentives

Maryland   https://commerce.maryland.gov/fund

Massachusetts   https://massecon.com/business-resources/incentives/

Michigan   https://www.michiganbusiness.org/grow/incentives-taxes/#incentives

Minnesota   https://mn.gov/deed/business/financing-business/index.jsp

Mississippi   https://www.mississippi.org/home-page/business-services/entrepreneurs-small-business/

Missouri   https://business.mo.gov/incentives/index.html

Montana   https://businessresources.mt.gov/Finance

Nebraska   https://www.neded.org/business/start-a-business/loan-guarantee

Nevada   https://ssbci.nv.gov/About/About/

New Jersey   https://www.nj.gov/njbusiness/financing/

New Mexico   https://gonm.biz/business-resource-center/start/funding-sources-programs/

New York   https://esd.ny.gov/BusinessPrograms.html

North Carolina   https://blnc.gov/start-your-business/financial-resources

North Dakota   https://www.business.nd.gov/finance/

Ohio   https://development.ohio.gov/bs/bs_busgrantsloans.htm

Oklahoma   https://okcommerce.gov/in-state-business-resources/incentives/    

Oregon   https://www.oregon.gov/business/Pages/financing.aspx

Pennsylvania   https://community.newpa.com/programs/   

Rhode Island   https://commerceri.com/finance-business/

South Carolina   https://www.scbos.sc.gov/

South Dakota   https://sdreadytowork.com/Financing-Incentives.aspx

Tennessee   https://www.tnecd.com/advantages/incentives-grants/

Texas   https://gov.texas.gov/ecodev/financial_resources/loan_assistance

Utah   https://www.utah.gov/business/starting/financial_starting.html

Vermont   https://accd.vermont.gov/business/start/financing/lenders

Virginia   https://www.yesvirginia.org/ProBusiness/BusinessIncentives

Washington  https://www.access.wa.gov/topics/business/growbusiness/grantsloans

West Virginia   https://www.business4wv.com/b4wvpublic/default.aspx?pagename=financialassistance

Wisconsin   https://inwisconsin.com/grow/assistance/

Wyoming   https://www.wyen.biz/business-services/financial-services/funding-sources/

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

New Rule Regarding Solicitation of Investors

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Yesterday the Nevada Secretary of State posted a media release regarding new regulations that went into effect regarding public solicitations for investors. The article warns that it could open the floodgate to a wave of securities fraud and that investors should educate themselves of the new rule- Regulation D Rule 506(c) of the Securities Act.

In April 2012 Congress passed the Jumpstart Our Business Startups (JOBS) Act, which changed the way that this rule allows offerings to be sold. According to the article private placement offerings of securities, such as stocks, bonds and other instruments are exempt from SEC registration requirements. Furthermore the state of Nevada does not review them for verification of information or level of risk.

Additionally it states that under this new rule companies are allowed to publicly solicit investors and advertise the sale of securities without registering the offering with either the SEC or any state if certain requirements are met. These investments may be sold via television commercials, newspaper ads, internet sales and cold calls.

“This rule change provides a new solicitation platform that is another avenue for swindlers to scam investors, so I urge investors to perform due diligence and thoroughly check the offerings before investing,” said Secretary Miller.

Previously such offerings were only made known through investment professionals or word of mouth. As a precaution to protect investors from fraud, they should fully understand the following:

• These offerings often involve companies with a limited history.
• There may not have been a regulatory background check of the sellers, managers or officers of the company issuing the investment.
• They often promise higher rates of return- and come with higher risk.
• These securities are generally illiquid, which means you may have a limited ability to get out of the investment and may hold it indefinitely.
• You may be offered less information than a public offering.
• No regulator has confirmed that the risk disclosure or information about the company is adequate.

Regulation D Rule 506 investments, if sold via advertisements or general solicitation, may only be sold to accredited investors. An accredited investor is:

• A natural person must have a net worth , exclusive of your primary residence, of more than $1 million, or
• Have had an income over $200,000 individually, or $300,000 with your spouse, in each of the last two years, and expect to earn the same amount this year.

For a complete summary of the proposed regulations that went into effect 9/23/13 go to https://www.sec.gov/rules/proposed/2013/33-9416.pdf.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775) 884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Asset Protection and Liability Insurance

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When starting and operating a business, asset protection is of the utmost importance. You don’t want to spend years building your business only to be wiped out from a lawsuit.

No matter what type of business entity you’re using, the next level of asset protection should be liability insurance. This is for a couple of reasons. First, liability insurance usually provides competent counsel to defend any lawsuit. With the enormous cost of litigation these days, even if you’re successful at winning, you may lose an exorbitant amount of capital defending yourself.

The other reason is that the face amount of the liability coverage is the first amount paid in the event a judgment is entered against you. However, you need to be sure you read and understand any restrictions and limitations when obtaining your liability policy.

Why Incorporate Your Business
https://americancorpenterprises.com/why.html

Other recommended reading regarding your corporate records and asset protection.
https://americancorpenterprises.blogspot.com/2011/12/penny-savedcan-be-fortune-lost.html?spref=bl

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

1 2 3

Business Technology

How Will the TPP Affect Your Business?

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Whether you’re for or against this agreement, experts concur that the Tran-Pacific Partnership (TPP) is an “absolute bear” that comes with a “mixed bag of pros and cons”. With 12 countries in its scope that account for 40% of the world’s GDP, 26% of the trade and 793 million consumers, it is said to be the world’s largest trade deal yet.  Previously that title was held by NAFTA.

Notably the agreement does not include China, which was an intentional move to balance their trade dominance as well as India’s in East Asia.

Who are the 12 countries?  Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

Proponents of the TPP tout that it eases trade barriers for small to medium-sized businesses by reducing red tape and corruption, and strengthening logistics. However, it is not without controversy, especially for tech companies that provide ISP and cloud storage services.

Furthermore, although it has new common standards for workers’ rights, there are questions about enforceability.

The International Trade Administration has information available on how the TPP is expected to impact every state in the U.S.  To find out about your state and the industries it will impact go to  https://trade.gov/fta/tpp/index.asp

Also the Office of the United States Trade Representative has TTP Fact Sheets on their web site at https://ustr.gov/trade-agreements/free-trade-agreements

Four IT Security Trends to Master Corporate data is falling into the hands of hackers at an alarming rate. Here are four ways to protect it.

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Four IT Security Trends to Master Corporate data is falling into the hands of hackers at an alarming rate. Here are four ways to protect it. Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Startup Professionals Musings: Too Busy for Social Media Marketing Could Be Fatal

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Startup Professionals Musings: Too Busy for Social Media Marketing Could Be Fatal

Comments by Tracey Padilla, Pres.
American Corporate Enterprises, Inc.

If you’re not using any Socia Media tools yet for your business, you may want to read this article at the above link. While it’s certainly not the only answer to providing your company with sustainability, it’s probably something you should explore.

Are you feeling too busy like I used to? Just ease into it and you’ll soon find that it’s not as bad as you think. Yes, I still have a lot to learn and I have no intention of replacing good customer service with Tweeting or Blogging . I enjoy the interaction with our wonderful clients. But I do know I have to swim with the tide or get left on the island- so I work at it for a bit after hours.

If you’re in need of assistance with your Social Media Implementation, feel free to contact one of our BAC Strategic Partners- Jillian Pearson with Site Noticed, Inc. and she’ll be happy to assist you with setting it up. You will find her contact information at https://www.sitenoticed.com/

I’d like to also take the opportunity to introduce you to one of my favorite local bloggers, Dr. Bret L. Simmons. https://www.bretlsimmons.com/ who teaches about Social Media and Positive Organizational Behavior.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com/. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

BUSINESS ACHIEVEMENT CENTER: Changing Technology

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BUSINESS ACHIEVEMENT CENTER: Changing Technology: “Contributed by Chris Utley, President Geeks Of Nevada, Inc. “The only thing that is constant in life is change”. In the technology field…”

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Corporate Record Keeping

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Amendments to Articles

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Contributed by Deanna Kelly, Office Manager

Before you file an Amendment to the Articles with the Secretary of State you have a couple things to consider:

• You will need signed Special Meeting Minutes and a Resolution in your book reflecting that the Board met and voted in favor of the Amendment.

• If you are changing the name of your corporation you will need to then update your corporate record book. You will need the new name on the book, the stock certificates & corporate seal.

You will also need to notify your bank, vendors and customers of the new name.

• If you are changing the amount or par value of the corporations stock you will need to replace and reissue stock certificates reflecting the current amount of stock/par value.

As always, record keeping is the life of your corporation. Any changes in the corporation need to be documented with a meeting, vote, minutes and a resolution. All need to be signed and placed in your corporate book behind the “Minutes” tab along with all your Annual Minutes in chronological order.

Should you need assistance with filing an Amendment or obtaining replacement stock certificates, etc. give us a call. We’ll be happy to help.

Other recommended reading

IRS Audits and Record Keeping
https://elitebookkeepingtaxservices.blogspot.com/2013/05/irs-audits-and-record-keeping.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

The Importance of Corporate Record Keeping

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Contributed by Deanna Kelly, Office Manager

Corporate Record Keeping is very important. It’s the difference between being a Corporation or not. At the least you would need Minutes for an Annual Meeting. Minutes are very simple: Who, What, When, Where, Why.

Who was at the meeting?
What kind of meeting (Special or Annual)?
When was the meeting?
Where was the meeting?
Why did you have a meeting (what was discussed)?

You write or type this out and place it in your corporate book behind the Minutes tab. Minutes should be in chronological order.

Day to day business does not require a meeting or minutes. Anything outside of day to day minutes (ie. purchase of property or vehicle by the corporation) requires a meeting, minutes and a resolution. All to be filed in your corporate book.

You should have a meeting each year to elect new officers & directors. The resulting minutes should be filed in the corporate book as discussed previously.

Even though LLC record keeping requirements are not as stringent as for Corporations, you should still maintain a Company Record Book. If you don’t have a Record Book for your Corporation or LLC, we can provide one for you. Just give us a call toll free at (888) 274-1130.

FYI we have Annual Minutes forms on our web site that you may print out and complete. To find them go to our web site  at https://americancorpenterprises.com and click the link for our Resource Center.

Read our previous post about Corporate Record Keeping and Asset Protection.

Also see IRS Audits and Record Keeping https://elitebookkeepingtaxservices.blogspot.com/2013/05/irs-audits-and-record-keeping.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Estate Planning

Asset Protection Trusts

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Contributed by Tracey Padilla, Pres.

I recently had the opportunity to attend some workshops on Estate Planning by Cassandra Jones, Esq., who is a Strategic Partner for the Business Achievement Center. One of the topics she spoke about was using a Nevada Asset Protection Trust.

According to Cassandra, Nevada is one of the best states when it comes to Trust Law, which is why so many attorneys who specialize in Asset Protection continue to form Corporations, LLCs and Trusts here. In order to establish an Asset Protection Trust in Nevada, you need to have an asset located in the state, which can be a bank account.

Another important thing that she mentioned is if you live in Nevada, have assets valued at $20,000, but do not have an Estate Plan, your estate can be subject to probate.

The law firm of Houghton Jones, A. P.C. offers Estate Planning as well as Business Law and Family Law. Furthermore, their firm is one of only a handful in this area that offers a particular level of Estate Planning components.

For assistance with Estate Planning in Nevada, or if you are interested in setting up an Asset Protection Trust in Nevada, contact Cassandra directly via https://hou2plan.com/.

For additional resources visit https://www.BusinessAchievementCenter.com

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.
At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Executive Suites

Carson City Professional Office Space and Virtual Office Services

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For more information about Executive Office Suites or Virtual Office Services, contact Pinnacle Executive Suites at (775)884-6123 or visit their web site at
https://www.PinnacleExecutiveSuites.com

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Featured

FTC Challenges Made in USA Claims

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For many American consumers the decision to buy products made in the USA is an important one. The Federal Trade Commission recently published an article regarding a particular company that is being sued for making false claims by advertising it’s products as “Made in the USA” or “Proudly Made in the USA”.

According to the complaint, this company claimed its products are “all or virtually all made in the US”. The FTC alleges that approximately 55% of chemicals used in the products are attributable to imported chemicals. Therefore, the suit states that the company’s claims were deceptive because although the products are made in the US, they are made with domestic and imported materials.

This company also manufactured products under brand names for other retailers. The article states  “Thus, the complaint alleges that [the company] provided others with the ‘means and instrumentalities’ to deceive consumers.”

If you’re currently marketing products as “Made in the USA”, or are considering doing so, the FTC has  the following publications and more available to companies.

Complying with the Made in the USA Standard

Selling American Made Products? What Businesses need to know about Made In the USA claims

Qualified Claims

Comparitive Claims

The FTC and Customs Service

What to do about violations

For more information visit https://www.ftc.gov/

Form a Corporation

Changes to Tax Code That Make LLCs and S Corps More Attractive

, , , , , , ,

business-idea-831053_1280

With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

Doing Business With States- Vendor and Procurement Resources

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Are you interested in doing business with other states? Below are links for vendor and procurement resources for you.

Your Corporation or LLC would need to be registered in those states in order to do business there. We can help you with forming domestic entities as well as filing as foreign entities in every state.

Alabama   https://purchasing.alabama.gov/Default.aspx

Alaska   https://doa.alaska.gov/dof/iris/vendor.html

Arizona   https://procure.az.gov/bso/

Arkansas   https://business.usa.gov/external-site?ccontent=https://www.dfa.arkansas.gov/offices/procurement/Pages/vendorInformation.aspx

California   https://www.dgs.ca.gov/pd/Home.aspx

Colorado   https://www.colorado.gov/pacific/osc/procurement-resources

Connecticut   https://das.ct.gov/cr1.aspx?page=8

Delaware   https://business.usa.gov/external-site?ccontent=https://mymarketplace.delaware.gov/

Florida https://www.dms.myflorida.com/business_operations/state_purchasing/public_procurement_professional_development

Georgia   https://doas.ga.gov/state-purchasing/suppliers

Hawaii   https://spo.hawaii.gov/

Idaho   https://purchasing.idaho.gov/

Illinois   https://www.illinois.gov/cms/business/procurement/Pages/default.aspx

Indiana   https://www.in.gov/idoa/2464.htm

Iowa   https://das.iowa.gov/procurement/vendors/how-do-business

Kansas   https://admin.ks.gov/offices/procurement-and-contracts/

Kentucky   https://finance.ky.gov/services/eprocurement/Pages/doingbusiness.aspx

Louisiana   https://wwwprd1.doa.louisiana.gov/OSP/LaPAC/pubMain.cfm

Maryland   https://emaryland.buyspeed.com/bso/

Massachusetts   https://www.mass.gov/anf/budget-taxes-and-procurement/oversight-agencies/osd/

Michigan   https://www.michigan.gov/micontractconnect

Minnesota   https://www.mn.gov/admin/government/purchasing-contracting/

Mississippi   https://www.mscpc.com/bid-opportunities/

Missouri   https://oa.mo.gov/purchasing#mogov-tabs-pane-4-tab-1

Montana   https://vendorresources.mt.gov/

Nebraska   https://das.nebraska.gov/materiel/purchase_bureau/vendor/vendor-info.html

Nevada   https://purchasing.state.nv.us/

New Jersey   https://www.nj.gov/njbusiness/contracting/

New Mexico   https://www.generalservices.state.nm.us/statepurchasing/

New York   https://nyspro.ogs.ny.gov/

North Carolina   https://www.doa.nc.gov/pandc/Default.aspx

North Dakota   https://www.nd.gov/spo/vendor/registry/

Ohio   https://business.ohio.gov/state/

Oklahoma   https://www.ok.gov/DCS/Central_Purchasing/Vendor_Registration/index.html

Oregon   https://www.oregon.gov/DAS/EGS/PS/pages/supplier_info.aspx

Pennsylvania   https://www.emarketplace.state.pa.us/

Rhode Island   https://www.purchasing.ri.gov/bidinfo/geninfo/geninfo.aspx

South Carolina   https://business.usa.gov/external-site?ccontent=https://procurement.sc.gov/PS/vendor/PS-vendor-new.phtm

South Dakota   https://boa.sd.gov/divisions/procurement/vendors/

Tennessee   https://www.tn.gov/generalservices/topic/vendor-information

Texas   https://www.texasbidsystem.com/

Utah   https://purchasing.utah.gov/vendorinformation.html

Vermont   https://bgs.vermont.gov/purchasing

Virginia   https://www.dmbe.virginia.gov/bid.html

Washington   https://www.des.wa.gov/services/ContractingPurchasing/Pages/default.aspx

West Virginia   https://www.state.wv.us/Admin/Purchase/vrc/default.html

Wisconsin   https://doa.wi.gov/Divisions/Enterprise-Operations/State-Bureau-of-Procurement

Wyoming   https://ai.wyo.gov/general-services/contracts–purchasing

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Form a Corporation or LLC- Starter Package

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See our 20th Anniversary Promotions- available until the end of June!

If you’re considering starting a Nevada Corporation or LLC, below is a list of what’s included with our Starter Package (our most popular package).

LIMITED TIME OFFER: As part of our 20th Anniversary Promotion we are also offering FREE Bank Account Assistance ($150 value).

• First Year Registered Agent fee
• Nevada name availability search
• Preparation and filing of Articles
• Filing fee for Articles (75,000 shares at no par value for corps.)
• Certified copy of Articles (required by state for our files)
• EIN Instructions
• Corporate Bylaws or 26-pg. LLC Operating Agreement Draft
• Save and Hold Harmless Indemnity Agreement (for your purchase)
• Customized Organizational Minutes
• Customized Officer/Director or Member/Manager Acceptance Forms
• 20 Security Protected Stock Certificates or LLC Membership Certificates
• Instructions for issuing stock
• Initial List/State License form and filing instructions (state fee not included)
• Hand delivery of Initial List/State License form to state (may also be filed online for faster processing by the state)
• Miscellaneous forms and information
• First year Business Address Service/Mail Forwarding. You may then use our address on your bank account, letterhead, business cards, web site, etc. All First Class mail is forwarded on a daily basis for no additional charge. Shipping fees and special handling fees are separate.
• FREE Corporate Record Keeping CD – ($99 value) Contains fill-in-the-blank forms for your record keeping needs. May be modified for use with LLC.
• Corporate Kit- Handsome 3 ring binders with inside pockets, section dividers, slip cover and name embossment.
• UPS Shipping fee (domestic)

For a limited time we are also offering:

$50 our new Corporation or LLC package for any state (not valid with Starter Package, Basic Incorporation or Platinum Package).

$300 new Annual Executive Suite Services (may be used with our Platinum Package).

For pricing, other package information or to place an order, visit
https://americancorpenterprises.com/order_online.html

Other recommended reading:

What is a Registered Agent?
https://americancorpenterprises.blogspot.com/2012/02/what-is-registered-agent.html

After You Incorporate
https://americancorpenterprises.blogspot.com/2013/02/after-you-incorporate.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Why Should You Incorporate?

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Because of the length of time corporations have been in existence, there is a long record of statutory and case law which supports the use of a corporation for asset protection.

Consequently, corporations are traditionally considered for use as the “First Line of Defense” to accomplish the goal of limited liability. Following are some important attributes and advantages to a corporation which allow it to be used for limited liability as well as other purposes.

•The corporation is a totally separate entity from any individual- it is not you, and you are not it. This is important to remember in maintaining the limited liability protection. It must be treated as a separate individual

•A corporation can buy, sell, trade, own property, own stock, make loans, etc. and anything else that an individual can do; such actions are governed by the Board of Directors

•The shareholders of the corporation do not have to live in the state in which the corporation is domiciled. Fortunately, here in Nevada, neither do the Officers or Directors

•Corporations have perpetual existence- if a Director or Officer becomes deceased, the corporation will still exist, unlike with some other entities

•There are many tax deductions available to corporations, which are not available to other entities

•It is easy to transfer assets and ownership of a corporation

•Centralized management allows ease of doing business

•Full fringe benefits can be established through a corporation

•A corporation has all of the rights of an individual except for the Fifth Amendment

Please be advised that we are not engaged in rendering legal counsel or accounting services. If legal advise, or other such services and assistance is required, the services of a professional person in that area should be sought. At your request, however, we may consult with you and render our opinion based on our business experience.

American Corporate Enterprises works with and provides services to Attorneys, CPAs, Financial Consultants, etc. in order to meet the needs of our clients. We would be happy to refer you to such a professional at your request.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Form an LLC

Changes to Tax Code That Make LLCs and S Corps More Attractive

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With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

Doing Business With States- Vendor and Procurement Resources

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Are you interested in doing business with other states? Below are links for vendor and procurement resources for you.

Your Corporation or LLC would need to be registered in those states in order to do business there. We can help you with forming domestic entities as well as filing as foreign entities in every state.

Alabama   https://purchasing.alabama.gov/Default.aspx

Alaska   https://doa.alaska.gov/dof/iris/vendor.html

Arizona   https://procure.az.gov/bso/

Arkansas   https://business.usa.gov/external-site?ccontent=https://www.dfa.arkansas.gov/offices/procurement/Pages/vendorInformation.aspx

California   https://www.dgs.ca.gov/pd/Home.aspx

Colorado   https://www.colorado.gov/pacific/osc/procurement-resources

Connecticut   https://das.ct.gov/cr1.aspx?page=8

Delaware   https://business.usa.gov/external-site?ccontent=https://mymarketplace.delaware.gov/

Florida https://www.dms.myflorida.com/business_operations/state_purchasing/public_procurement_professional_development

Georgia   https://doas.ga.gov/state-purchasing/suppliers

Hawaii   https://spo.hawaii.gov/

Idaho   https://purchasing.idaho.gov/

Illinois   https://www.illinois.gov/cms/business/procurement/Pages/default.aspx

Indiana   https://www.in.gov/idoa/2464.htm

Iowa   https://das.iowa.gov/procurement/vendors/how-do-business

Kansas   https://admin.ks.gov/offices/procurement-and-contracts/

Kentucky   https://finance.ky.gov/services/eprocurement/Pages/doingbusiness.aspx

Louisiana   https://wwwprd1.doa.louisiana.gov/OSP/LaPAC/pubMain.cfm

Maryland   https://emaryland.buyspeed.com/bso/

Massachusetts   https://www.mass.gov/anf/budget-taxes-and-procurement/oversight-agencies/osd/

Michigan   https://www.michigan.gov/micontractconnect

Minnesota   https://www.mn.gov/admin/government/purchasing-contracting/

Mississippi   https://www.mscpc.com/bid-opportunities/

Missouri   https://oa.mo.gov/purchasing#mogov-tabs-pane-4-tab-1

Montana   https://vendorresources.mt.gov/

Nebraska   https://das.nebraska.gov/materiel/purchase_bureau/vendor/vendor-info.html

Nevada   https://purchasing.state.nv.us/

New Jersey   https://www.nj.gov/njbusiness/contracting/

New Mexico   https://www.generalservices.state.nm.us/statepurchasing/

New York   https://nyspro.ogs.ny.gov/

North Carolina   https://www.doa.nc.gov/pandc/Default.aspx

North Dakota   https://www.nd.gov/spo/vendor/registry/

Ohio   https://business.ohio.gov/state/

Oklahoma   https://www.ok.gov/DCS/Central_Purchasing/Vendor_Registration/index.html

Oregon   https://www.oregon.gov/DAS/EGS/PS/pages/supplier_info.aspx

Pennsylvania   https://www.emarketplace.state.pa.us/

Rhode Island   https://www.purchasing.ri.gov/bidinfo/geninfo/geninfo.aspx

South Carolina   https://business.usa.gov/external-site?ccontent=https://procurement.sc.gov/PS/vendor/PS-vendor-new.phtm

South Dakota   https://boa.sd.gov/divisions/procurement/vendors/

Tennessee   https://www.tn.gov/generalservices/topic/vendor-information

Texas   https://www.texasbidsystem.com/

Utah   https://purchasing.utah.gov/vendorinformation.html

Vermont   https://bgs.vermont.gov/purchasing

Virginia   https://www.dmbe.virginia.gov/bid.html

Washington   https://www.des.wa.gov/services/ContractingPurchasing/Pages/default.aspx

West Virginia   https://www.state.wv.us/Admin/Purchase/vrc/default.html

Wisconsin   https://doa.wi.gov/Divisions/Enterprise-Operations/State-Bureau-of-Procurement

Wyoming   https://ai.wyo.gov/general-services/contracts–purchasing

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Limited Liability Company Classification

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If you’re thinking about starting an LLC, here’s a post by our affiliate office regarding how the IRS classifies limited liability companies.

Elite Bookkeeping & Tax Services: Limited Liability Company Classification: A Limited Liability Company (LLC) is a business structure allowed by state statute. Every state has its own regulations so it’s important to…

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Form a Corporation or LLC- Starter Package

,

See our 20th Anniversary Promotions- available until the end of June!

If you’re considering starting a Nevada Corporation or LLC, below is a list of what’s included with our Starter Package (our most popular package).

LIMITED TIME OFFER: As part of our 20th Anniversary Promotion we are also offering FREE Bank Account Assistance ($150 value).

• First Year Registered Agent fee
• Nevada name availability search
• Preparation and filing of Articles
• Filing fee for Articles (75,000 shares at no par value for corps.)
• Certified copy of Articles (required by state for our files)
• EIN Instructions
• Corporate Bylaws or 26-pg. LLC Operating Agreement Draft
• Save and Hold Harmless Indemnity Agreement (for your purchase)
• Customized Organizational Minutes
• Customized Officer/Director or Member/Manager Acceptance Forms
• 20 Security Protected Stock Certificates or LLC Membership Certificates
• Instructions for issuing stock
• Initial List/State License form and filing instructions (state fee not included)
• Hand delivery of Initial List/State License form to state (may also be filed online for faster processing by the state)
• Miscellaneous forms and information
• First year Business Address Service/Mail Forwarding. You may then use our address on your bank account, letterhead, business cards, web site, etc. All First Class mail is forwarded on a daily basis for no additional charge. Shipping fees and special handling fees are separate.
• FREE Corporate Record Keeping CD – ($99 value) Contains fill-in-the-blank forms for your record keeping needs. May be modified for use with LLC.
• Corporate Kit- Handsome 3 ring binders with inside pockets, section dividers, slip cover and name embossment.
• UPS Shipping fee (domestic)

For a limited time we are also offering:

$50 our new Corporation or LLC package for any state (not valid with Starter Package, Basic Incorporation or Platinum Package).

$300 new Annual Executive Suite Services (may be used with our Platinum Package).

For pricing, other package information or to place an order, visit
https://americancorpenterprises.com/order_online.html

Other recommended reading:

What is a Registered Agent?
https://americancorpenterprises.blogspot.com/2012/02/what-is-registered-agent.html

After You Incorporate
https://americancorpenterprises.blogspot.com/2013/02/after-you-incorporate.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

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Legal Articles

BUSINESS ACHIEVEMENT CENTER BLOG: Pointers for Negotiating a Buy-Sell Agreement

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BUSINESS ACHIEVEMENT CENTER BLOG: Pointers for Negotiating a Buy-Sell Agreement: Contributed by Cassandra Jones, Esq. Houghton Jones, A.P.C. A Buy-Sell Agreement is the contract for sale of a business. It is vital th… Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

BUSINESS ACHIEVEMENT CENTER BLOG: What’s Your Business Exit Strategy?

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BUSINESS ACHIEVEMENT CENTER BLOG: What’s Your Business Exit Strategy?:
Contributed by Cassandra Jones, Esq. Houghton Jones, A.P.C.

You have worked hard to build your business. As you approach retirement, or the need to leave your business for other reasons, you should have a plan in place to wind up your business. There are several different types of exit strategies. Which one is right for you depends on factors like your customers, finances, your family, and your employees.

The most obvious strategy is simply to close down the business. When you close down the business you must be certain to properly wind down the business’ affairs. Just because you have decided to leave the business does not mean that the business’ responsibilities and obligations immediately cease. Final taxes must be filed and paid. Outstanding vendors must be paid. There should be a filing with the Secretary of State indicating that the business has been closed. Failure to properly wind down the business may expose you individually. For example, if the business has any unpaid debts, its assets should be used to satisfy those debts. If you take the assets without paying the debts, you may be risking future creditor’s efforts against you personally to recoup those assets. Continue reading…

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Warning- Business Identity Theft On The Rise

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We frequently hear stories about people who were victims of identity theft. Less often in the media – but unfortunately on the rise – is business identity theft. The thieves look for businesses that have not kept up their annual filings that are either in default or revoked status. They submit annual filings or reinstatement documents and change key company information in order to take control of the business.

As with individual identity theft, these thieves then get credit cards in the company name or establish lines of credit with banks or other vendors- all if which can be devastating to a business.

This is one of the reasons that we suggest that companies file a formal dissolution with the state, file a final tax return and close all open lines of credit for their business.

The National Association of Secretaries of State (NASS) has been working closely with The Identity Theft Protection Association (ITPA), which recently launched the website www.BusinessIDTheft.org to combat this growing threat.

The website has information about ways that theft can occur, prevention information, resources, victim assistance and more.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Common Fraud Schemes (Provided by the FBI)

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Are Clients Squeezing Big Law into Small Law?

Partners leaving big firms to go out on their own isn’t new, but it seems to be picking up. A growing reason is that clients have become more careful about spending. And lawyers can lower their rates after leaving BigLaw.

Clients have clamored in recent years for reduced rates, fewer associates assigned to cases and alternative billing arrangements.

“Some make a point of objecting to junior associates on the bill,” Joshua Stein, a former real estate partner at Latham & Watkins, who left last month to start his own practice, told Slate for a story headlined “Leaving big law behind.”

“In the context of [my practice], those issues won’t exist and, so far, what I’ve seen is that it’s appealing to clients.”

And in a recent Crain’s New York Business story along the same lines, headlined “Partners flee big law firms to go their own way,” there was this: “Clients no longer feel their day-to-day needs justify paying the $800- or $900-per-hour rates of a partner at a large firm,” says Joseph Gioconda, who left a partnership at DLA Piper last December to found the Gioconda Law Group, an intellectual property boutique that specializes in protecting corporate brands and trademarks.

Giocanda’s new firm gets a third of its income from billable hours, at $450 to $550 per hour, another third from flat-rate fees and a third from contingency arrangements.

In the past. lawyers have left BigLaw to make bigger money, because they can then eat more of what they kill; for pride of ownership in a practice that is more closely their own; for more tailored selection of clients and issues; for less bother with extra duties such as cross-selling for other lawyers in far-flung offices whom they hardly know; and for lifestyle matters.

But now, the external economics—what clients want and demand—might be holding as much or more sway.

Crain’s New York reports that more than half of 231 corporations polled last fall by Hildebrandt International—many of them Fortune 500 companies—negotiated with outside counsel on nonhourly billing arrangements, and nearly two-thirds of the companies said they were implementing a rate freeze on outside legal fees.
This, according to Crain’s, leads to lawyers leaving big firms to open boutiques. The article lists some recent moves in New York City:
• White-collar defense partner Daniel Horwitz, who was co-counsel last year for fraudster Bernard Madoff and defended David Letterman against an extortion attempt by a CBS producer, left Dickstein Shapiro in June to join the 11-lawyer firm Lankler & Carragher.

• Patent attorney John Desmarais, a top partner at Kirkland & Ellis for 15 years, left in June to start his own firm, Desmarais.

• Six partners from LeClairRyan’s Securities and Exchange Commission enforcement group bolted, taking 10 lawyers with them, to form specialty boutique Murphy & McGonigle this summer.

• The chair and vice chair of Sonnenschein Nath & Rosenthal’s Internet practice, Marc Zwillinger and Christian Genetski, left the firm in February to form boutique Zwillinger Genetski.

• Andrew Sandler, former head of the consumer financial services practice at Skadden Arps Slate Meagher & Flom, left last spring with 14 colleagues to form BuckleySandler.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Legal news

FTC Challenges Made in USA Claims

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For many American consumers the decision to buy products made in the USA is an important one. The Federal Trade Commission recently published an article regarding a particular company that is being sued for making false claims by advertising it’s products as “Made in the USA” or “Proudly Made in the USA”.

According to the complaint, this company claimed its products are “all or virtually all made in the US”. The FTC alleges that approximately 55% of chemicals used in the products are attributable to imported chemicals. Therefore, the suit states that the company’s claims were deceptive because although the products are made in the US, they are made with domestic and imported materials.

This company also manufactured products under brand names for other retailers. The article states  “Thus, the complaint alleges that [the company] provided others with the ‘means and instrumentalities’ to deceive consumers.”

If you’re currently marketing products as “Made in the USA”, or are considering doing so, the FTC has  the following publications and more available to companies.

Complying with the Made in the USA Standard

Selling American Made Products? What Businesses need to know about Made In the USA claims

Qualified Claims

Comparitive Claims

The FTC and Customs Service

What to do about violations

For more information visit https://www.ftc.gov/

Watson Rounds Blog – Nevada Courts Adopt E-Filing | Watson Rounds

Watson Rounds Blog – Nevada Courts Adopt E-Filing | Watson Rounds Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

LLC

Changes to Tax Code That Make LLCs and S Corps More Attractive

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With the Tax Cuts and Jobs Act a new tax deduction for pass-through business income was created (LLC, S Corp, Partnership and Sole Proprietorship income). The deduction allows for a 20% deduction of qualified business income. There are a few limitations, but in general this means that 20% of business net income can be a deduction on the owner’s personal tax return. *

Before the Tax Cut and Jobs Act a C Corporation had a range of tax rates between 15% and 35%. After the Tax Cuts and Jobs Act the corporate rate is now a flat 21%. For most large corporations this is a win with a lower tax bracket, but if you were operating as a C Corporation with net profits less than $50,000 this is an increase of 6%.

For this reason we are seeing:

  • An increase in the formation of LLCs (Liability protection; lower state fees overall; less paperwork)
  • An increase in new Corporations electing S Corp status
  • Existing Corporations making elections from C Corp to S Corp status with the IRS

Sole Proprietorships are not recommended in an asset protection strategy. With a Sole Proprietorship there is no protection for personal or business assets.  A Sole Proprietorship has no Charging Order protection or “corporate veil protection”.

Nevada currently is the only state that has a Charging Order provision for closely held corporations.

* PLEASE NOTE: There are a few limitations to the Qualified Business Income deduction such as W-2 wage limitation; Service business limitation and higher income level limitation. Please seek advice from YOUR tax professional for your specific situation/goals. 

Some information contributed by Elite Bookkeeping & Tax Services.

Charging Order Protection for Nevada Corporations

 

 

 

Using an LLC for Real Estate Investing

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With the fallout of the real estate market the number of foreclosure sales is increasing dramatically. Many of those purchases are being made with the intent of renting the property rather than for owner occupancy.

LLCs are today’s number one choice for holding title to real estate. Owning either residential or commercial real estate can subject you to significant risk of a lawsuit. As we all know, accidents can happen any time. If someone gets seriously hurt on your property, you may find yourself being sued for damages.

One of the most common mistakes people make is assuming that since they have insurance that they are protected. Sometimes judgments can exceed the insurance coverage, or in some cases the insurance is denied. It’s important that you read your insurance policy thoroughly and understand the limitations.

The LLC is designed to protect your personal assets in the event of a lawsuit. You want to make sure that in the event of a lawsuit that the LLC is the defendant and not you personally.

Here are some things to keep in mind:

If you haven’t done so already, you may want to consider forming an LLC to hold title to your investment real estate. Remember to “not carry all of your eggs in one basket”.

You must sign a deed conveying the real estate to the LLC and record the deed in the county in which the property is located if you wish to transfer the property.

Make sure you are adequately covered with your insurance policy and that the LLC shows as the insured. Remember, the LLC is not you and you’re not it.

If you transfer the property into an LLC but you are making improvements on the property and an injury arises because of the work, you could be sued personally. You may want to hire a licensed contractor for things such as construction repairs, electrical work or plumbing, etc.

If you do hire someone to do significant repairs on your property, be sure to check them out thoroughly beforehand.
For information and assistance regarding forming an LLC, give us a call toll free at (888) 274-1130.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Manufacturing

How Will the TPP Affect Your Business?

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Whether you’re for or against this agreement, experts concur that the Tran-Pacific Partnership (TPP) is an “absolute bear” that comes with a “mixed bag of pros and cons”. With 12 countries in its scope that account for 40% of the world’s GDP, 26% of the trade and 793 million consumers, it is said to be the world’s largest trade deal yet.  Previously that title was held by NAFTA.

Notably the agreement does not include China, which was an intentional move to balance their trade dominance as well as India’s in East Asia.

Who are the 12 countries?  Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.

Proponents of the TPP tout that it eases trade barriers for small to medium-sized businesses by reducing red tape and corruption, and strengthening logistics. However, it is not without controversy, especially for tech companies that provide ISP and cloud storage services.

Furthermore, although it has new common standards for workers’ rights, there are questions about enforceability.

The International Trade Administration has information available on how the TPP is expected to impact every state in the U.S.  To find out about your state and the industries it will impact go to  https://trade.gov/fta/tpp/index.asp

Also the Office of the United States Trade Representative has TTP Fact Sheets on their web site at https://ustr.gov/trade-agreements/free-trade-agreements

FTC Challenges Made in USA Claims

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For many American consumers the decision to buy products made in the USA is an important one. The Federal Trade Commission recently published an article regarding a particular company that is being sued for making false claims by advertising it’s products as “Made in the USA” or “Proudly Made in the USA”.

According to the complaint, this company claimed its products are “all or virtually all made in the US”. The FTC alleges that approximately 55% of chemicals used in the products are attributable to imported chemicals. Therefore, the suit states that the company’s claims were deceptive because although the products are made in the US, they are made with domestic and imported materials.

This company also manufactured products under brand names for other retailers. The article states  “Thus, the complaint alleges that [the company] provided others with the ‘means and instrumentalities’ to deceive consumers.”

If you’re currently marketing products as “Made in the USA”, or are considering doing so, the FTC has  the following publications and more available to companies.

Complying with the Made in the USA Standard

Selling American Made Products? What Businesses need to know about Made In the USA claims

Qualified Claims

Comparitive Claims

The FTC and Customs Service

What to do about violations

For more information visit https://www.ftc.gov/

He who laughs last: the return of U.S. manufacturing – AMA Shift

He who laughs last: the return of U.S. manufacturing – AMA Shift

Ten years ago, at the height of the outsourcing frenzy, I predicted on CNN in front of 16 million people, worldwide, that United States’ manufacturing would come back and that we would be making “things” again – appliances, heavy equipment, computers, TV’s and electronics. Even my dog laughed at me!


Continue reading

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Marketing

FTC Challenges Made in USA Claims

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For many American consumers the decision to buy products made in the USA is an important one. The Federal Trade Commission recently published an article regarding a particular company that is being sued for making false claims by advertising it’s products as “Made in the USA” or “Proudly Made in the USA”.

According to the complaint, this company claimed its products are “all or virtually all made in the US”. The FTC alleges that approximately 55% of chemicals used in the products are attributable to imported chemicals. Therefore, the suit states that the company’s claims were deceptive because although the products are made in the US, they are made with domestic and imported materials.

This company also manufactured products under brand names for other retailers. The article states  “Thus, the complaint alleges that [the company] provided others with the ‘means and instrumentalities’ to deceive consumers.”

If you’re currently marketing products as “Made in the USA”, or are considering doing so, the FTC has  the following publications and more available to companies.

Complying with the Made in the USA Standard

Selling American Made Products? What Businesses need to know about Made In the USA claims

Qualified Claims

Comparitive Claims

The FTC and Customs Service

What to do about violations

For more information visit https://www.ftc.gov/

Getting Your Product Video Produced Right! The First Time

Here’s a helpful post by Tyler Bourns, who is an incredibly talented young film maker. Are you looking to perhaps add some product videos to your site? Read this helpful post and contact Tyler if you have any questions about his services.

Getting Your Product Video Produced Right! The First Time…:
Written by Tyler Bourns // CEO Bourns Productions Inc. Launching a brand new product can an exciting yet nerve racking time for any company…

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com/. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Startup Professionals Musings: Too Busy for Social Media Marketing Could Be Fatal

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Startup Professionals Musings: Too Busy for Social Media Marketing Could Be Fatal

Comments by Tracey Padilla, Pres.
American Corporate Enterprises, Inc.

If you’re not using any Socia Media tools yet for your business, you may want to read this article at the above link. While it’s certainly not the only answer to providing your company with sustainability, it’s probably something you should explore.

Are you feeling too busy like I used to? Just ease into it and you’ll soon find that it’s not as bad as you think. Yes, I still have a lot to learn and I have no intention of replacing good customer service with Tweeting or Blogging . I enjoy the interaction with our wonderful clients. But I do know I have to swim with the tide or get left on the island- so I work at it for a bit after hours.

If you’re in need of assistance with your Social Media Implementation, feel free to contact one of our BAC Strategic Partners- Jillian Pearson with Site Noticed, Inc. and she’ll be happy to assist you with setting it up. You will find her contact information at https://www.sitenoticed.com/

I’d like to also take the opportunity to introduce you to one of my favorite local bloggers, Dr. Bret L. Simmons. https://www.bretlsimmons.com/ who teaches about Social Media and Positive Organizational Behavior.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com/. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Nevada news

Important Nevada Forms Changes

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The Nevada Secretary of State has changed renewal forms as well as many other filing forms. Most of the new ones were revised in January, but only recently uploaded when they began implementing their new filing system.

We have been notified by the Secretary of State’s office that they are unable to provide us with pre-populated renewal forms (all previous filed information filled in).

At this time their new filing system is still not fully functional. However, Annual Lists may be filed online. As with many states, we believe the goal has been to have the majority of renewals, if not all, filed online.

As of today they are over a month behind on Annual List filings that were hand delivered. To view processing dates see link below.

https://www.nvsos.gov/sos/businesses/processing-dates

To file your Annual Lists online with the state go to the link below.

https://www.nvsilverflume.gov

If you need assistance, please call us at (888) 274-1130.

Changes to Filing Requirements for Nevada Commerce Tax

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Per notification from the Nevada Department of Taxation:

The filing requirement for the Nevada Commerce Tax has been changed. If the Nevada gross revenue of your business from July 1, 2018 through June 30, 2019 was $4,000,000 (FOUR MILLION) or less, your business is no longer required to file a Commerce Tax return and your Commerce Tax Account will be automatically closed.

If the Nevada gross revenue for your business form July 1, 2019 through June 30, 2019 was over $4,000,000, your business is still required to file a Commerce Tax return on or before August 14, 2019.

In the event that your Nevada gross revenue exceeds the $4,000,000 threshold in a future year, it is your responsibility to file a return for the year. Failure to do so may result in the assessment of penalty and interest.

If you have already filed the return, please disregard the informational message.

For more information about Commerce Tax, including the filing requirements, please visit the State of Nevada Department of Taxation’s website: https://tax.nv.gov/WelcometoCOM/

Secretary of State Warns Business About Misleading Filing Notices

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Yesterday Nevada Secretary of State Barbara Cegavske’s office posted a warning to businesses regarding misleading corporate filing notices. According to the warning a company based out of Florida calling itself “Division of Corporate Services” is sending an “annual records statement” to companies asking for shareholder/director information and to return the form with a $150 fee.

To read the Secretary of State’s post CLICK HERE.

New Rule Regarding Solicitation of Investors

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Yesterday the Nevada Secretary of State posted a media release regarding new regulations that went into effect regarding public solicitations for investors. The article warns that it could open the floodgate to a wave of securities fraud and that investors should educate themselves of the new rule- Regulation D Rule 506(c) of the Securities Act.

In April 2012 Congress passed the Jumpstart Our Business Startups (JOBS) Act, which changed the way that this rule allows offerings to be sold. According to the article private placement offerings of securities, such as stocks, bonds and other instruments are exempt from SEC registration requirements. Furthermore the state of Nevada does not review them for verification of information or level of risk.

Additionally it states that under this new rule companies are allowed to publicly solicit investors and advertise the sale of securities without registering the offering with either the SEC or any state if certain requirements are met. These investments may be sold via television commercials, newspaper ads, internet sales and cold calls.

“This rule change provides a new solicitation platform that is another avenue for swindlers to scam investors, so I urge investors to perform due diligence and thoroughly check the offerings before investing,” said Secretary Miller.

Previously such offerings were only made known through investment professionals or word of mouth. As a precaution to protect investors from fraud, they should fully understand the following:

• These offerings often involve companies with a limited history.
• There may not have been a regulatory background check of the sellers, managers or officers of the company issuing the investment.
• They often promise higher rates of return- and come with higher risk.
• These securities are generally illiquid, which means you may have a limited ability to get out of the investment and may hold it indefinitely.
• You may be offered less information than a public offering.
• No regulator has confirmed that the risk disclosure or information about the company is adequate.

Regulation D Rule 506 investments, if sold via advertisements or general solicitation, may only be sold to accredited investors. An accredited investor is:

• A natural person must have a net worth , exclusive of your primary residence, of more than $1 million, or
• Have had an income over $200,000 individually, or $300,000 with your spouse, in each of the last two years, and expect to earn the same amount this year.

For a complete summary of the proposed regulations that went into effect 9/23/13 go to https://www.sec.gov/rules/proposed/2013/33-9416.pdf.

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775) 884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Sandoval seeks repeal of 654 regulations – News – ReviewJournal.com

Sandoval seeks repeal of 654 regulations – News – ReviewJournal.com

Gov. Brian Sandoval on Thursday recommended the repeal of 654 Nevada regulations that he said are either unneeded or a drag on economic growth.

Among them: a rule requiring labels on toilets in manufactured buildings advising of maximum water use per flush. The state Manufactured Housing Division concluded that the regulation is duplicative and unnecessary.

Another recommendation would abolish a requirement that all driver training schools have a physical location in the state. With the growth of Internet-based schools, officials say, mandating a brick-and-mortar site to do business “constitutes an unnecessary burden with little or no increased consumer protection,” the governor’s office said in a statement.

Of the hundreds of rules targeted for repeal, 137 involve the Department of Business and Industry, 120 fall under the Department of Motor Vehicles, and 95 are under the Department of Taxation.

Continue reading

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Stock Certificates

Documenting Your Business Activities

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As stated in previous posts Corporate Record Keeping is essential when it comes to protecting your assets and tax benefits. Anything that is of major business consequence should be documented in your records. You need to show evidence that it was approved by the company.

Below are is a partial list of examples of business activities to document:

  • Amendments to the Articles
  • Annual Meetings of Shareholders/ Members
  • Annual Meetings of Directors/ Managers
  • Special Meetings of Shareholders, Directors/ Members
  • Authorization for Voting Proxy
  • Opening of bank account
  • Adding or changing bank signatories
  • Authorization to change or appoint company accountant
  • Authorization to appoint legal counsel
  • Authorization for payment of business travel
  • Changes to Bylaws or Operating Agreement
  • Changes in Stock/ Membership Certificates to correct errors or omissions
  • Changes in Officers/ Management (new appointments, resignations, dismissals)
  • Reimbursement for child care expenses
  • Independent contractor service (1099s for outside services)
  • Authorization for credit card
  • Authorization to establish line of credit for the company
  • Authorization for Foreign Qualification
  • Reimbursement for Life Insurance
  • Medical and Dental Reimbursement Plans
  • Mergers and acquisitions
  • Promissory Notes
  • Retirement Accounts
  • Purchase of Key-Man Policy
  • Real Estate leases or purchases
  • Setting salaries for Officers/ Managers
  • Authorization to pay for vehicle expenses (purchases, leases, maintenance, insurance, gasoline)
  • Dissolution of company

We do offer Corporate Record Keeping Assistance. For more information and sample forms, visit https://americancorpenterprises.com/what-we-offer/services/corporate-record-keeping/

 

Amendments to Articles

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Contributed by Deanna Kelly, Office Manager

Before you file an Amendment to the Articles with the Secretary of State you have a couple things to consider:

• You will need signed Special Meeting Minutes and a Resolution in your book reflecting that the Board met and voted in favor of the Amendment.

• If you are changing the name of your corporation you will need to then update your corporate record book. You will need the new name on the book, the stock certificates & corporate seal.

You will also need to notify your bank, vendors and customers of the new name.

• If you are changing the amount or par value of the corporations stock you will need to replace and reissue stock certificates reflecting the current amount of stock/par value.

As always, record keeping is the life of your corporation. Any changes in the corporation need to be documented with a meeting, vote, minutes and a resolution. All need to be signed and placed in your corporate book behind the “Minutes” tab along with all your Annual Minutes in chronological order.

Should you need assistance with filing an Amendment or obtaining replacement stock certificates, etc. give us a call. We’ll be happy to help.

Other recommended reading

IRS Audits and Record Keeping
https://elitebookkeepingtaxservices.blogspot.com/2013/05/irs-audits-and-record-keeping.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

The Importance of Corporate Record Keeping

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Contributed by Deanna Kelly, Office Manager

Corporate Record Keeping is very important. It’s the difference between being a Corporation or not. At the least you would need Minutes for an Annual Meeting. Minutes are very simple: Who, What, When, Where, Why.

Who was at the meeting?
What kind of meeting (Special or Annual)?
When was the meeting?
Where was the meeting?
Why did you have a meeting (what was discussed)?

You write or type this out and place it in your corporate book behind the Minutes tab. Minutes should be in chronological order.

Day to day business does not require a meeting or minutes. Anything outside of day to day minutes (ie. purchase of property or vehicle by the corporation) requires a meeting, minutes and a resolution. All to be filed in your corporate book.

You should have a meeting each year to elect new officers & directors. The resulting minutes should be filed in the corporate book as discussed previously.

Even though LLC record keeping requirements are not as stringent as for Corporations, you should still maintain a Company Record Book. If you don’t have a Record Book for your Corporation or LLC, we can provide one for you. Just give us a call toll free at (888) 274-1130.

FYI we have Annual Minutes forms on our web site that you may print out and complete. To find them go to our web site  at https://americancorpenterprises.com and click the link for our Resource Center.

Read our previous post about Corporate Record Keeping and Asset Protection.

Also see IRS Audits and Record Keeping https://elitebookkeepingtaxservices.blogspot.com/2013/05/irs-audits-and-record-keeping.html

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Strategic Planning

What are Certified Trade Missions?

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Certified Trade Missions (CTMs) are overseas events planned, organized, recruited, and led by private and public sector export oriented groups outside of the U.S. Department of Commerce. These events are hosted by the U.S. Department of Commerce’s overseas Commercial Service Offices.

The purpose of CTMs is to bring representatives of U.S. companies into contact with potential agents, distributors, joint venture partners, licensees, local businesses, and government contracts.

Here are some things that are typically included in the CTMs:

  • one-on-one business appointments
  • market briefings
  • networking receptions
  • selective sessions on local business practices, site visits, or seminars

To find out more about guidelines and benefits of CTMs visit export.gov

BUSINESS ACHIEVEMENT CENTER BLOG: Pointers for Negotiating a Buy-Sell Agreement

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BUSINESS ACHIEVEMENT CENTER BLOG: Pointers for Negotiating a Buy-Sell Agreement: Contributed by Cassandra Jones, Esq. Houghton Jones, A.P.C. A Buy-Sell Agreement is the contract for sale of a business. It is vital th… Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Carson City Professional Office Space and Virtual Office Services

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For more information about Executive Office Suites or Virtual Office Services, contact Pinnacle Executive Suites at (775)884-6123 or visit their web site at
https://www.PinnacleExecutiveSuites.com

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Updates

Important Nevada Forms Changes

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The Nevada Secretary of State has changed renewal forms as well as many other filing forms. Most of the new ones were revised in January, but only recently uploaded when they began implementing their new filing system.

We have been notified by the Secretary of State’s office that they are unable to provide us with pre-populated renewal forms (all previous filed information filled in).

At this time their new filing system is still not fully functional. However, Annual Lists may be filed online. As with many states, we believe the goal has been to have the majority of renewals, if not all, filed online.

As of today they are over a month behind on Annual List filings that were hand delivered. To view processing dates see link below.

https://www.nvsos.gov/sos/businesses/processing-dates

To file your Annual Lists online with the state go to the link below.

https://www.nvsilverflume.gov

If you need assistance, please call us at (888) 274-1130.

State Updates

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California– The Secretary of State has some new forms and has made changes to some existing ones in an effort to help reduce rejected filings. New forms include Articles of Incorporation of a Cannabis Cooperative Association; a redomestication form for California insurance corporations to change domicile from California to another jurisdiction.

Minnesota– Effective January 1, 2018, Limited Liability Companies organized before August 1, 2015 must adhere to the Minnesota Revised Uniform Limited Liability Company Act (Chapter 322C), which is a law that was passed in 2015.

Oregon– Effective January 1, 2018, House Bill 2191 provides the Secretary of State’s office and the Department of Justice with new means to deter the abuse of shell corporations in Oregon by requiring additional information filing documents associated with articles, including amendments, restated articles, conversions, and merger filings. The additional information required includes 1) principal/physical place of business and may not be a commercial mail receiving agency, mail forwarding or virtual office 2) An individual’s name with direct knowledge of the business activities of the entity 3) a signer acknowledgement.

Washington– The Secretary of state implemented a new filing system and has change the procedures for issuing the filing date for corporate filings. Under the new system, the filing date will be the date that the filing is processed and not the date it was submitted.

Also effective January 1, 2018, the business Corporation and LLC Annual Report filings were transferred to the Secretary of State’s office from the Business Licensing Service (BLS) office. However, licenses can still be obtained through the BLS office, but there will be an $11 handling fee in addition to a credit card processing fee. Licenses obtained through the Secretary of State’s office will not have the added fees.

State Updates

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Arkansas

Because of a scheduled outage, beginning Friday, Jan. 13th at approximately 5 pm, the Sec. of State’s office will be unable to send email, receive email, and process online transactions. They anticipate that online services will be operational before Monday, Jan. 16th.

California

The California Secretary of State’s Office has a new and improved business entity search tool that allows you to see certain filed documents.

They have also made some changes to corporation dissolution forms and added filing tips to help prevent rejected filings.

Kentucky

Sec. of State Alison Lundergan Grimes is continuing her commitment to helping Veterans start and grow business with her “Boots to Business” initiative. She hopes to pass legislation that would waive the initial registration fee for veteran-owned businesses and also waive the annual report filing fee for the first four years of business operation.

Nevada

Legacy Corpnet site (nvsos.gov) will be retired as of Jan. 20, 2017. To access entity information, obtain forms and to file online you will need to go to https://www.nvsilverflume.gov .

All Secretary of State offices will be closed on Monday, Jan. 16th for Martin Luther King Day.

Virtual Office

Use a Virtual Office as a Profitable Alternative to Paying High Rent

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Here is another example of how obtaining a Virtual Suite is beneficial to your business!

A money-saving service that is being used by many professionals today is the virtual office. With so many business professionals working from their homes or on the go, the virtual office has evolved into a popular alternative to leasing a permanent office. It provides a creative solution which benefits the small business owner tremendously.

What is a Virtual Office?

A virtual office gives small business owners a presence in the business world for a fraction of normal rental costs. It is an alternative to leasing an office space, which can be costly for a new business owner. Virtual office services may also provide a set of online tools to help manage the small business. Although virtual office services differ, below is a list of some of the most common features.

1. Physical Business Address

Clients are provided with their own physical mailing address where business mail and small packages can be received. Virtual offices are not typically used to receive heavy volumes of mail as in a mail order business, but normal business mail quantities only. Those who operate a business from their home can use the virtual office address instead of their home address, which provides a safe and professional way to receive mail. Mail to a virtual office can be forwarded to the client ‘s home address.

2. Local Phone Number

Virtual office services also include a local phone number where a business owner can receive calls and messages. Voice mail and forwarding are usually included so the client can check messages at any time. This works great for someone who works from home or does not wish to tie up a cell phone line if they are continuously on the go.

3. Fax Capabilities

Being able to receive faxes is important to any business. Faxes are used to conduct business, send reports, take orders and receive memos every day. Using the virtual office fax, the client receives faxes which can be forwarded directly to his/her email.

4. Office Access

Access to a desk or work station with Internet capabilities, office equipment and more is crucial for a business. This is available for those times when the client needs to organize a presentation before a conference or use the Internet or computer for business purposes.

5. Conference Room Access

Conference rooms are available for rent with some virtual office setups. The client can hold business meetings or give sales presentations without interruption.

6. Web Conference Room Access

Web conference rooms are available for virtual meetings. Rather than hold a physical meeting, the client can hold virtual business meetings or give virtual sales presentations. Virtual meetings have gained popularity in recent years because they save time and money while providing instant presentation opportunities. Some virtual office services offer this tool as an added service.

7. Online virtual tools

Online tools such as calendar, address book, webmail, document repository, to do ‘s , forums, digital fax and digital voice mail have become common among many large businesses. Some virtual office services offer these tools and others as an added service.

Who can benefit by using a Virtual Office?

People of all trades find virtual offices useful. Executives, salespeople, accountants, marketing consultants and online business owners each benefit by using a virtual office for certain tasks. Those who work from home and wish to establish a business presence find that a virtual office meets this need. Corporations also use virtual offices as a means of testing a business location before opening a new branch.

When renting an office is not an option, a virtual office can be used by small business owners to meet the daily needs while saving time and money.

For more information, we encourage you to visit our affiliate, Pinnacle Executive Suites – located in Carson City, NV:  Their mission statement is:  “Our goal is to provide the finest office space and best service possible to make the professionals and their guests feel comfortable with their surroundings. This goal is accomplished when you come in and enjoy your surroundings. We have tried to accomplish this through upscale furnishings, to show some affluence, without being ostentatious. Our staff has been selected for their genuine desire to help our professionals with their business needs and graciously welcome your guests. Our staff has many years of experience to assure the best possible service. Contact us today at 775-884-6123 or visit our website at https://www.pinnacleexecutivesuites.com/“

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com. At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

Virtual Office Service

Carson City Professional Office Space and Virtual Office Services

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For more information about Executive Office Suites or Virtual Office Services, contact Pinnacle Executive Suites at (775)884-6123 or visit their web site at
https://www.PinnacleExecutiveSuites.com

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.

BUSINESS ACHIEVEMENT CENTER: Expanding Your Business With A Virtual Office

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BUSINESS ACHIEVEMENT CENTER: Expanding Your Business With A Virtual Office: “With the downturn in the economy we’ve certainly seen our share of businesses come and go across the U.S. As of late there has been a surge …”

Find out more about American Corporate Enterprises by visiting our website at https://americancorpenterprises.com.At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us Toll free (888) 274-1130 or (775) 884-9380 today.

At American Corporate Enterprises, Inc., we have the expertise to handle all your incorporation needs! Contact us

Toll free (888) 274-1130 or (775)884-9380 today and visit our website at www.staging-americancorpenterprises-staging.kinsta.cloud.