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.
🚀 Book your free demo call today! Click here or visit: https://taxelm.com/demo/
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
Join TaxElm: https://taxelm.com
🚀 Visit: https://www.TaxSavingsPodcast.com
🚀 Check Out TaxElm: https://taxelm.com/
🚀 Join our Free Facebook Group: https://www.facebook.com/groups/taxsavings/
🚀 YouTube: www.TaxSavingsTV.com
👋🏼 GET IN TOUCH
You can Tweet @MJesowshek with any feedback, ideas, or thoughts about the lessons you've learned from the episodes. We want to thank you personally for tuning in 🙏
🙏 LEAVE A REVIEW
If you enjoy the podcast, please leave a 5-star review on Apple Podcasts or Spotify—it helps more business owners find the show ⭐
🎙 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.
Popular Podcasts
New Heights with Jason & Travis Kelce
Football’s funniest family duo — Jason Kelce of the Philadelphia Eagles and Travis Kelce of the Kansas City Chiefs — team up to provide next-level access to life in the league as it unfolds. The two brothers and Super Bowl champions drop weekly insights about the weekly slate of games and share their INSIDE perspectives on trending NFL news and sports headlines. They also endlessly rag on each other as brothers do, chat the latest in pop culture and welcome some very popular and well-known friends to chat with them. Check out new episodes every Wednesday. Follow New Heights on the Wondery App, YouTube or wherever you get your podcasts. You can listen to new episodes early and ad-free, and get exclusive content on Wondery+. Join Wondery+ in the Wondery App, Apple Podcasts or Spotify. And join our new membership for a unique fan experience by going to the New Heights YouTube channel now!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!