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Archive for September, 2010

2010-09-28 : This Week in Twitter

Tuesday, September 28th, 2010

2010-09-21 : This Week in Twitter

Tuesday, September 21st, 2010

Small Business Alert – The Coming 1099 Tsunami

Monday, September 20th, 2010

One of the little-known provisions of the Affordable Healthcare Act (Obamacare) is that all businesses will in 2013 be required to submit 1099′s to the IRS for every vendor/supplier for which they spend more than $600. This will affect 30 million businesses and will generate hundreds of millions of 1099′s, millions of hours of accounting and paperwork headaches not to mention the productivity-sapping effect of implementing systems to track such expenses.

There’s more detail in this Wall Street Journal article about how today (9/14/10) they will attempt to strip that provision from the bill. As of right now it has failed.

The article gives an example of the 1099 provision that should prompt all small business owners to action. A trucking business, with dozens of trucks, will now have to issue 1099′s for every gas station where each truck spends more than $600 for something as basic as fuel – truly a paperwork nightmare.

Personally, MyNewCompany.com incorporates businesses in all 50 states. This typically includes us paying the filing fee for our clients to the state. Now imagine, state fees run from $25 to $500, we easily spend more than $600/year in the vast majority of states, we usually spend more than that in a day for bigger states like Texas, Florida and California. So basically we will be issuing upwards of 50 1099′s for that expense alone – that doesn’t include our dozens of other vendors.

When I started writing this alert, I didn’t even realize the effect on MyNewCompany until I wrote the previous paragraph even though I’d been aware of the law for a few weeks. Imagine the millions of businesses that have no idea of the new law, what they’ll need to track or even how to track it.

If you care about small business or are a small business owner, you need to contact your Congressperson and Senator and ask them to repeal the 1099 provision of the Healthcare Reform Act. It is a business-killing, paperwork nightmare that threatens to make an already bad economy even worse.

Is MyNewCompany.com a Scam?

Thursday, September 16th, 2010

It still amuses me, after almost 10 years in business, a perfect A+ Rating from the Better Business Bureau, membership in the Las Vegas Chamber of Commerce and over 20,000 satisfied clients, people still ask “is MyNewCompany a scam?” on  a regular basis and search for “mynewcompany.com scam” in search engines as evidenced by our tracking software.

I think this is fairly normal because when I’m researching a purchase, I usually do a google search for “COMPANYNAME scam” to make sure I’m not being hustled. I don’t take it personally as the President of MyNewCompany.com, Inc. – there are incorporation service companies that are a scam, or at the least not very upfront on their prices or practices. Compare us to the competition and see what makes us different.

I’d just like to briefly list the reasons why we are not a scam:

  1. You can verify our BBB membership and A+ rating by visiting this link: http://www.vegasbbb.org/rptrel.asp?bbbid=66690 Better yet, give them a call at 702.320.4560.
  2. Call us! Most online scam companies are impossible to contact. Our toll free # is 800.326.1362 and our local # is 702.362.2677.
  3. Email us to test our response time! Send an email here and see how long it takes us to respond, typically under an hour during standard business hours (9am to 5pm PST).
  4. Check our Credentials page which lists our seals from Authorize.net, PayPal, etc.
  5. Visit our offices! Here’s a link to our location listed on Google Maps, you can see our building too!

Hopefully that resolves the issue, if not, call me directly at 702.362.2677 x111.

Thanks,

Matt Knee
President
MyNewCompany.com, Inc.

How to Create a Small Business Intranet

Tuesday, September 14th, 2010

Lifehacker has a good article on how small businesses and teams need to “stop repeating yourself” and collaborate with a company “wiki” and use it as an intranet. Basically, you want a password protected web page where everyone on your team can view, edit and collaborate on ideas, processes and “how to’s” so a team member does need to keep asking for information or bother anyone on how to do something, what is so and so’s phone number, what is the time-off policy, etc. The basic premise is that if you need to send an email to everyone in the company about something (especially how to do something, a policy change, procedure update, etc.), you can probably post it on your small business intranet where everyone can access it.

If you can centralize your company documents, instructions, contact lists and procedures in one place, and make that information easy to update, then you have a fantastic time-saving resource. Moreover, you have gotten one step closer to automating your business, standardizing your procedures. You’ve also made your company more valuable because a) you can sell it as a “system” and b) you can have your company run by others who know what to do and how to do it.

Lifehacker recommends MediaWiki, the free open-source software that powers WikiPedia, to power your intranet. However, the learning curve is steep, it requires installation on your own web server and is not entirely user-friendly. There are many other professional solutions like HyperOffice and Microsoft Sharepoint but they have their own complexities – usually too many bells and whistles for a small business intranet.

We use and recommend EditMe. EditMe is like a user-friendly, password protected version of WikiPedia. Basically, you setup an account instantly, double click the page you are on and you can edit it in a regular Word-like editor. Same goes with the side menu where you will be adding links to other pages (which you can create in one click). Basically, you create a page, name it, then link to it on your menu – you can even attach files to each page (employee manuals, etc.). You can add users with different permissions (view/edit/delete, etc.) quickly and it sends email notices when pages have been updated. A basic account starts around $5/month and is easily the best $5 MyNewCompany.com has ever spent. I’ve seen all the intranet solutions and this is by far the easiest for small business.

Small Business Intranet suggestions:

  • Have a “Home” page that everyone must check daily – this is where you post any important notices or updates – prevents endless “memo” type emails. Tip: set company browser home pages to this page.
  • Let anyone make updates but make sure there is an “administrator” who can reverse those updates and “undelete” files and pages. EditMe has this feature.
  • Recommended pages: Contact List, Procedures Manual, “How to” page (change printer ink, setup email account, etc.), Business Ideas, Suggestion Box, Marketing Info, Vendor List, Employee Contact Info, projects, etc.
  • Make sure every employee uses it. EditMe takes 10 minutes to learn so every new and existing employee should get an overview.

Optional:

If you need to collaborate on a higher level, you may want to consider, in addition to a small business intranet, using a simple project manager like BaseCamp. BaseCamp has some additional features that make managing tasks, projects and more extremely simple and they offer a free basic account.

So “stop repeating yourself”, setup your intranet now and focus on your business – you won’t regret it. :)



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