Business Entity Compliance 101: What You MUST Know

Are you 100% sure your business entity is compliant? In this episode, Mike is joined by Nellie Akalp, CEO of CorpNet, to break down what compliance really means for LLCs and corporations. They cover everything from annual reports, meeting minutes, and registered agents to BOI reporting and choosing the right state to form your entity. You’ll also learn when it makes sense to do it yourself, hire a service, or bring in a lawyer and what mistakes could cost you your limited liability status. If you want to avoid penalties, fees, or even losing your business, this is a must-listen.

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Chapters:

(00:00) Why Entity Compliance Matters
Mike opens the episode with a warning: failing to stay compliant can result in fines, lawsuits, or even the loss of your business.

(01:40) Internal vs. External Compliance Explained
Nellie explains what most business owners miss after forming an LLC or corporation—and the filings you must keep up with.

(06:02) The Power of a Compliance Checklist
A simple checklist can save your business's status and reputation. Nellie shares how CorpNet helps clients stay in good standing.

(10:19) 3 Mindsets When Starting a Business
Do-it-yourself, hiring a service, or using an attorney; which is right for you? Nellie breaks down the pros and cons.

(22:30) Why Filing in Wyoming Might Hurt You
Nellie debunks the myth that forming your LLC in Nevada or Wyoming saves you money if your business operates elsewhere.

(28:46) Remote Employees and State Compliance
Hiring out-of-state? Here’s what you really need to know about payroll accounts and why you likely don’t need to be foreign qualified.

Need help staying compliant?
Check out CorpNet, they make it simple to handle filings, BOI reporting, and more.
👉 https://www.corpnet.com/?PID=1071 

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
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🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.