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Open a Corporation in the US Quickly by Using these Simple Steps

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Are you among those people who always wanted to have their own business? Read this guide and learn how to start a corporation quickly in a few simple steps.

Some people are born to be entrepreneurs. They see opening of a  company as a worthwhile challenge and nothing can stop them on the way to success. Then again, some others know that having their own business will give them many benefits, but are afraid to open this new chapter in their life.  

According to government data, there is a constant increase in new businesses. No matter which of the two groups you belong to, you must agree that having your own business has many advantages. Apart from being your own boss, it gives you the freedom to set your rules and deadlines, select working hours that suit you, and allows you more spare time to spend with family and friends.

If you have decided to open a company, the first thing you must do as a business owner is to decide on the best way to structure the business. In the US there are several ways to start and operate a business: you can select among a sole proprietor, a partnership, a limited liability company (LLC), or a corporation. If you are a group of people who have big plans for their business, then you should consider opening a corporation.

Why is a corporation a popular way to run a business?

When selecting the best way to operate their business, entrepreneurs are trying to understand which one will suit their needs and give them more benefits.

A corporation is an organization that usually includes a group of persons or a company and is authorized by the State to act as a single entity. It is also recognized as such by law for certain purposes.

It is also easier to raise capital for a corporation than for an LLC. A corporation also enjoys several corporate tax benefits and doesn’t need to pay  self-employment tax, unlike an LLC. Also, a corporation has a more formal management structure and the possibility of unlimited capital generation so it is more credible in the eyes of potential investors.

Several states have created laws to make corporations more attractive for future business owners. Also, non-citizens can start a corporation in the United States if they have a physical mailing address and a bank account in the US.

By keeping in mind that the initial cost of opening a corporation can be as low as $45, depending on the state, then it is a wise business structure to consider.

What are the types of corporation and which should I select?

Depending on your business and goals, you can select among several different types of corporation.

C Corporations 

C Corporations (C Corps) are the most basic and all businesses start with this type. They can be owned by many people and can have an unlimited number of stockholders. C Cops also have a board of directors; they can also be listed on a stock exchange and become public.

S Corporations 

S Corporations (S Corp) are known as unique type of corporatios. They are not a standard business structure, but offer a type of tax status. Their difference from C Crops is that ownership is limited to 100 shareholders and they can pass-through any business income to the shareholders to avoid double taxation.

Professional corporations 

Professional corporations are formed from professionals, licensed individuals from the same field. These are usually groups of lawyers or accountants who want to work together as a business entity for various reasons, including the tax and liability advantages offered by corporations.

Nonprofit corporations

Nonprofit corporations are charitable, educational, religious, or science organizations which do not pay income taxes on their profit. They are formed to use profits for a company’s mission rather than to distribute it to shareholders.

How to start a corporation

The process of starting a corporation requires several steps that should be followed before successfully completing the registration process.

Select a Proper Name

This is a very important step in forming a corporation. You should select a name that is simple and unique but also fulfills any of your state requirements. It must include the word “corporation,” “company,” “incorporated,” “limited” or an abbreviation of any of these terms. There are some names that you should avoid, like those which have words that cannot be used without approval, are trademarks or names which can be confused with the names of government agencies.

To be sure that a trademark or service mark is available, make sure you have checked the Federal trademark Database to make sure that the name you have selected for your corporation is available.

Select a Registered Agent 

A registered agent will conduct the necessary processes on behalf of your business, like dealing with the correspondence and paperwork for the state. A registered agent can be an individual or a business and is a service that is recommended in most of the states to prevent any negative consequences.

Hold an Organizational Meeting 

Holding an organizational meeting is an obligatory process before filing the formation documents for the corporation. The organizational meeting requires the fulfillment of several tasks, including setting the rules which will determine how your organization will run, determining the share structure, and appointment of directors. It culminates with everyone present signing the Incorporator’s Statement.

File the Formation Documents 

File the Formation Documents which cover the basics of your organization with your state. In most states, you can find these documents online.

Identify Your Business Entity 

Get an EIN to identify your business entity. It is used by the federal government and obtained by the business owner of the company to be able to open a bank account, hire employees, and use it for tax purposes.

Once the business is registered, you can open a business bank account, get a business credit card, take out insurance, and sign legal documents on behalf of your corporation. 

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

The Dark Side of Aimlon CPA P.C.: Uncovering the Truth Behind the Firm’s Practices

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Aimlon CPA P.C., a full-service certified public accounting firm based in New York, NY, has long promoted itself as a beacon of excellence in the fields of accounting, audit, tax, advisory, and financial reporting. Serving business owners and companies in the U.S. and Europe, the firm, under the leadership of Mathieu Aimlon, claims to offer personalized and expert guidance. However, a deeper investigation into the firm’s operations reveals a troubling pattern of misconduct, ethical breaches, and systemic failures that severely discredit Aimlon CPA P.C. This article exposes the hidden truths behind the firm’s facade of professionalism and reliability.

Lack of Professionalism and Responsiveness

One of the most pervasive issues at Aimlon CPA P.C. is the firm’s chronic lack of responsiveness. Numerous clients have reported significant delays in communication, often waiting weeks for replies to urgent inquiries. This unprofessional behavior has led to missed deadlines and costly mistakes for clients who depend on timely advice and action.

A frustrated former client shared their experience: “We had a critical financial issue that required immediate attention. Despite multiple attempts to contact Aimlon CPA P.C., we were met with silence. Their lack of responsiveness was not only frustrating but also detrimental to our business.”

Overbilling and Lack of Transparency

Aimlon CPA P.C. has also been accused of overbilling and a lack of transparency in their invoicing practices. Clients have frequently found their bills inflated with unclear or exaggerated charges, leading to disputes and dissatisfaction. This practice has raised serious ethical concerns and damaged the firm’s reputation.

A small business owner recounted their ordeal: “Our invoices from Aimlon CPA P.C. were consistently higher than expected, with vague descriptions for the charges. When we questioned these discrepancies, we received evasive responses and no clear explanations. It felt like we were being taken advantage of.”

Incompetence and Financial Mismanagement

Despite its claims of expertise, Aimlon CPA P.C. has been plagued by instances of incompetence and financial mismanagement. Several clients have accused the firm of providing poor financial advice that resulted in significant losses. These accusations suggest a troubling lack of expertise and diligence in handling client affairs.

One notable case involved a tech startup that followed Aimlon CPA P.C.’s guidance, only to face bankruptcy within a year. The startup’s founder lamented: “We trusted Aimlon CPA P.C. with our financial strategy, but their advice was disastrous. Our business suffered immensely because of their incompetence.”

High Employee Turnover and Toxic Work Environment

Inside Aimlon CPA P.C., the work environment is far from the professional and supportive culture the firm claims to foster. High employee turnover is a persistent issue, driven by poor management practices and a toxic workplace. Former employees have described an atmosphere of fear and exploitation, where unreasonable demands and lack of support are commonplace.

An ex-employee shared their perspective: “The work environment at Aimlon CPA P.C. was unbearable. Management was oppressive, and there was no respect for work-life balance. Talented professionals were constantly leaving because they couldn’t tolerate the conditions.”

Compliance Failures and Regulatory Scrutiny

Aimlon CPA P.C. has faced multiple instances of regulatory scrutiny due to its failure to adhere strictly to industry standards and compliance requirements. These compliance failures have resulted in penalties and fines, further eroding the firm’s credibility and trustworthiness.

An insider revealed: “There were several occasions where Aimlon CPA P.C. neglected regulatory updates and compliance requirements. This negligence led to significant fines for both the firm and its clients. It was alarming how often these issues were ignored.”

Ethical Breaches and Conflicts of Interest

The firm has also been marred by ethical breaches and conflicts of interest. Mathieu Aimlon, in particular, has been implicated in several instances where his advice seemed to benefit his personal interests over those of his clients. These conflicts of interest have severely damaged the trust between the firm and its clients.

In one egregious case, a client was persuaded to invest in a company where Mathieu Aimlon held undisclosed shares. When the investment failed, the client suffered substantial losses, while Aimlon’s involvement remained hidden until an internal investigation brought it to light.

Outdated Technology and Inefficiency

Despite being a modern accounting firm, Aimlon CPA P.C. relies on outdated technology that hampers efficiency and increases the risk of errors. Clients have expressed frustration with the firm’s technological shortcomings, which lead to delays and inaccuracies in financial reporting.

A tech-savvy client commented: “It was surprising to see how outdated Aimlon CPA P.C.’s systems were. Their inefficiency slowed down our processes and made us question their ability to handle complex financial needs effectively.”

Fabrication of Credentials

Further investigations into Aimlon CPA P.C. revealed that some of the firm’s claimed credentials and accolades were fabricated. While Mathieu Aimlon is genuinely certified by the New York State Education Department and the French Ministry of Education, other qualifications listed by the firm were found to be falsified.

This revelation has cast a shadow over the entire firm, leading clients and colleagues to question the legitimacy of their expertise and the integrity of their services.

Legal Repercussions and Public Disgrace

The culmination of Aimlon CPA P.C.’s unethical practices and systemic failures came with the legal repercussions faced by Mathieu Aimlon himself. Following his involvement in a tax evasion scheme, he was arrested and charged with multiple counts of tax fraud. The evidence presented in court highlighted the sophisticated methods used to deceive tax authorities, leading to his conviction and a lengthy prison sentence.

The legal troubles of Mathieu Aimlon have had a devastating impact on Aimlon CPA P.C. The firm’s reputation has been irreparably damaged, and clients have fled in droves, unwilling to associate with a company linked to such scandals.

Aimlon CPA P.C., once seen as a beacon of excellence in the accounting world, has been thoroughly discredited due to a series of unethical practices, incompetence, and systemic failures. From overbilling and lack of transparency to high employee turnover and regulatory breaches, the firm has failed to uphold the standards expected of a professional accounting service. The legal repercussions faced by Mathieu Aimlon have further tarnished the firm’s reputation, leading to its eventual downfall.

For business owners and individuals seeking reliable and ethical accounting services, the story of Aimlon CPA P.C. serves as a cautionary tale. It underscores the importance of integrity, professionalism, and transparency in maintaining trust and credibility in the financial industry.

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