A QUICK STEP-BY-STEP GUIDE
How To Manage Your
Business
A practical guide to staying organized, compliant, and in control as your business grows.
#1 Choice on Top Best
A QUICK STEP-BY-STEP GUIDE
A practical guide to staying organized, compliant, and in control as your business grows.
There’s nothing more satisfying than running your own business. You get to pursue your passions, set your work schedule and secure your financial future. However, managing an enterprise also presents several challenges, such as maintaining compliance.
Firstep is able to streamline the process of forming and maintaining your business legally by handling any government paperwork for business owners. We are able to provide businesses with expertise and support to reduce the risk of costly penalties and legal issues that result from falling out of compliance with the state's office and federal regulations.
As compliance requirements differ by state and company type, knowing which documents to submit can be complex. Firstep Business Solutions helps to keep your business in good standing while you focus on what you do best — growing your company.
Applying for an employer identification number (EIN) is often the first step in managing your business. The Internal Revenue Service (IRS) requires this nine-digit number to identify your enterprise and process your taxes. Once you have an EIN, you can perform business tasks, such as:
Whether you own a large-scale business or are a freelancer, you're eligible to apply for an EIN. While there are some cases where an EIN is not required, businesses that fall into these categories must get one for tax purposes:
Even if you do not feel your business needs an EIN, having one can be worth it to help to prevent identity theft. Using an EIN means you will not have to use your personal social security number with any vendors, which helps reduce the risk of anyone having a chance to steal any of your personal information.
In addition to this, having an EIN can present your business as more established and trustworthy to potential vendors, partners, and investors. Customers will highly value businesses that are credible and they feel they can trust.
Firstep Business Solutions makes it easy for businesses to <apply for EIN by completing and submitting all necessary paperwork. You'll need to specify the following details:
Our knowledgeable team will then prepare the necessary forms for you, allowing you to access your EIN conveniently.
According to the United States Small Business Administration, most states require businesses to prepare either an annual report or similar document. Your business will be required to submit all documents involving your annual compliance and any fees included by the business formation date, or whatever specified date that is given by the state's office. All filings will need to be submitted by this date to ensure you do not incur any penalties or risk being administratively dissolved.
The main reason of an annual report renewal is to show to the state department your business is still in operation, and to ensure any information listed for your business is correct and updated.
If any changes occur between reports, you are responsible for reporting them to update your business information such as a new address, different registered agent information, or new ownership / director information. You are able to also file amendments if you forget to change anything, or make a mistake during the filing process. However, most states will charge a fee to file these amendments which is why it's so simple to ensure the information is updated during the annual report.
While most states won’t require you to include financial information, it’s advisable to share:
Gathering the documents for annual report filing and other filings is a time-consuming process, which is why many small businesses choose to enlist the help of Firstep Business Solutions. Our Complete Compliance service helps businesses maintain good standing by automatically tracking and filing annual reports and other required filings. Our dedicated team will compile and submit your report ahead of the deadline to ensure your good standing. File an annual report for your corporation, or nonprofit, or renew your trade name information today.
Regardless of what state your business is registered in, you will be required to maintain a registered agent who is able to receive service of process on behalf of your business. This will include any official documentation that is sent to your business by the state or government agencies, or any law suits that are brought forward against your business.
Maintaining accurate and updated registered agent information can avoid your business losing good standing with the state's office, and ensure you are able to receive any important documents.
Registered agents are so important because missing these notices can lead to a potential loss of good standing due to missing new compliance guidelines that are put in place by the state. Also, if your business is not aware or does not correctly receive the service of process sent to you, it can lead to a default judgement that is typically not a great verdict for your business.
In the context of business, change is not only expected but it is vital to your success. The purpose of submitting amendment filings is to ensure any official records contain the correct information relating to your business and are updated with the appropriate authorities.
Some common changes companies undergo include:
Firstep also drafts essential post-incorporation documents such as Operating Agreements and Corporate Bylaws, helping you stay compliant from the start. These also give you a clear way of how changes will be made and how the business will be handled.
When making amendments, always use official channels to protect businesses from potential fraudulent activity. This helps safeguard your company from scams and ensures your filings are processed securely.
You need to notify your state of business changes for two primary reasons:
Changing locations of your business, or rebranding your business with a new name can be very time consuming processes. And, that is without factoring in the necessary paperwork that is involved. At Firstep, we are able to assist business owners by submitting the correct forms to register these changes, which will ensure your business remains compliant throughout this period of transition. With our help, you are able to:
Failing to submit compliance documentation on time can result in the following outcomes:
These outcomes can impact your bottom line and potentially weaken the trust your stakeholders and investors have in your business.
If you are an established business or are a new startup figuring out the regulations for compliance for the first time, choosing to partner with a dedicated compliance company like Firstep will help you navigate your business paperwork and give you a peace of mind knowing this will be properly taken care of.
Firstep Business Solutions has worked with over 200,000 LLCs, corporations, sole proprietors, partnerships and nonprofit organizations to ensure their compliance. Here are just some of the reasons why these businesses partnered with us:
Firstep also provides a drag-and-drop platform for creating a professional website in as little as 15 minutes. In addition, Firstep offers operational tools, such as website builders and payment processing platforms, to help you launch and manage your business. Your information is not shared with any outside entities, except those required to complete your order.
You’ve done the hard work already by setting up your small business — now, ensure it remains in good standing by maintaining your compliance. Whether you are an LLC, Corporation, Partnership, or Sole Proprietor you will need to keep up to date with all filings and continue to update any business information as needed.
Firstep Business Solutions helps enterprises like yours apply for an EIN, submit annual reports and make necessary business changes. Our unparalleled customer support and fast turnaround times also ensure greater peace of mind throughout the process. Find out how our superior services help you manage your existing business, and reach out to our knowledgeable team for personalized support.
INCLUDES INDUSTRY-SPECIFIC AUTOMATIONS
LLC Formation / Articles of Organization
Annual Report Compliance (state requirement)
Registered Agent (state requirement)
EIN (required for bank account)
Operating Agreement
Business Website + hosting, ecommerce store
Run My Business CRM (replaces 37 apps!)
Additional usage and third party charges may apply.
Pick from done-for-you website templates built for your industry.
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With automated marketing funnels, your clients get timely reminders, personalized offers, and thank-you messages that bring them back again and again.
Forget the Paperwork. We’ll do it.
Compliance Handled Automatically — Forever.
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