Formation Solutions Featured in Santa Barbara Noozhawk

by Matthew Burgess on August 4, 2010

Noozhawk.com in Santa Barbara has written a nice piece on our work at Formation Solutions, as well as a mention of a blog we started to highlight entrepreneurship in Santa Barbara.

From the lead-in:

In The Art of War, the general Sun Tzu observes that every battle is won or lost before it ever begins.

In modern-day parlance, it can be argued that every startup business venture either succeeds or fails long before a single transaction is completed. Or, to paraphrase a well-known cliché — failing to prepare is preparing to fail.

Matthew Burgess, founder and CEO of Formation Solutions, is quite familiar with the preparation involved with forming a business entity, and he is bringing that knowledge to bear to help people navigate the complex, often intimidating, entrepreneurial battlefield.

Noozhawk: Formation Solutions Smoothes the Steps to Starting a Business

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We are looking for an ecommerce-focused site designer who can create multiple alternative designs for elements of existing sites. Preferably with experience creating skins and page elements to test in multivariate conversion-focused environment. In other words, not one big re-branding exercise, but lots of tests to optimize for conversion.

For use with a multivariate testing platform, we are running a series of tests to improve landing page optimization and conversion rate. We will start with testing easy-to-implement variations: copy changes, buttons, colors, rounded-vs-sharp corners, etc.

We have a long list of variations to try: we’d love creative ideation as well, but immediate priorities call for prolific, precise execution of design element creation and related CSS.

Details and application process here.

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Long Processing Times at CA Secretary of State

by Matthew Burgess on June 30, 2010

Just a heads up. If you’re hoping to get a new corporation started quickly, plan on waiting at least a month, unless you are ready to pay substantial expediting fees.

Due to budget cutbacks, the Secretary of State has closed or consolidated a number of functions and several regional offices. They’ve been forced to close offices in San Francisco, San Diego and Fresno, meaning more documents are filed in the remaining Sacramento and Los Angeles offices.

They’ve also eliminated paid overtime for staff members and the use of temporary staffing to help with the workload especially during heavy filing periods.

So what does this mean for you, the entrepreneur filing your business documents? [click to continue…]

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Costs of Incorporation Services: Are They Tax Deductible?

by Matthew Burgess on June 12, 2010

Many of our clients ask if the cost of forming a new corporation or limited liability company is tax deductible. Here is the guidance excerpted From IRS Publication 535 (2008), Business Expenses:

Business Start-Up and Organizational Costs

Business start-up and organizational costs are generally capital expenditures. However, you can elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred after October 22, 2004. The $5,000 deduction is reduced by the amount your total start-up or organizational costs exceed $50,000. Any remaining costs must be amortized… [click to continue…]

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New Business Seminar – A Huge Success!

by Emily Throckmorton on May 27, 2010

From left to right, Peter Muzinich, Matthew Burgess, Michael Neville, Drew Wakefield, Tony Vallejo, Glen Holden

Palius + O’Kelley, LLP teamed up with Formations Solutions to give a free seminar for those brave entrepreneurs who are courageous enough to start a business during the “Great Recession”, on Monday, May 17th. Speakers included Tony Vallejo and Monique Bunstone of Palius + O’Kelley, LLP, and Matthew Burgess of Formation Solutions. [click to continue…]

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Jim Bunch is not a Motivational Speaker

by Emily Throckmorton on May 26, 2010

Recently, at a conference in Cabo San Lucas, Mexico, I had the opportunity to see Jim Bunch, “The Ultimate Life Entrepreneur”, speak to a crowd of business professionals like myself. He introduced himself, and shortly thereafter played a clip of Chris Farley’s SNL skit where he is motivational speaker, Matt Foley, to illustrate that he’s not a motivational speaker. If you haven’t seen it, find it on YouTube, as it is pretty hilarious. Getting back to the topic, Jim’s message is simple: you have control over your own success, as he is living proof.

Jim Bunch has been extremely successful in business, while still maintaining his own personal version of an Ultimate Life: a wife, a 3-year old boy, and a healthy lifestyle. To say that he did really well during the “dot com” boom is an understatement. His achievements include being the pioneer of Bamboo.com, [click to continue…]

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New Business Seminar in Santa Barbara

by Matthew Burgess on April 28, 2010

Okay, maybe it’s not as fun as going to the dentist for a root canal, but  if you’ve just created a new company, there are quite a few details that are easy to overlook.

Palius + O’Kelley CPA’s Tony Vallejo and Matthew Burgess and Michael Neville of Formation Solutions, Inc. will be co-hosting a free seminar for people who have a new business.

Make sure that all of your t’s are crossed, and your i’s dotted, with the information and tools these companies will suggest during the seminar, to ensure that you will become an even more successful business owner! The topics that will be covered are as follows:

1) Registering with the proper tax authorities
2) Business entity selection
3) Payroll, sales and income taxes
4) Bookkeeping

The best part about this seminar is that it’s free! That’s right: learn how to run a successful business, network with other business professionals, and take advantage of the Q & A session after the presentation. Having the right information is always beneficial to your success.

Here’s the Scoop:

Time: Monday, May 17th, 5:30pm to 7:00pm
Location: Ramada Inn, 4770 Calle Real, Goleta
RSVP: Please contact Tony Vallejo at Palius + O’Kelley by email: tony [at] pokcpa[dot]com

http://www.sbentrepreneur.com/santa-barbara-events/new-business-owner-dont-miss-this-upcoming-seminar

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Joey Tamer talks about the loneliness of the CEO in a recent post on her blog. She discusses how to find the right consultant to work with on the questions and problems that you can’t take to others in your company.

The Loneliness of the CEO & A Way to Find a Solution

I’ve known Joey since she was introduced to me in 1999 by Mark Jeffrey, now CTO of Mahalo, and she joined the Board of Advisors of a [click to continue…]

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Authorized Shares and Issued Shares in a New Corporation

by Matthew Burgess on March 17, 2010

Here are questions we hear frequently from our clients:

When I form my corporation, what are “authorized shares,” and how many shares should my corporation authorize?

How are authorized shares different from “issued” shares? How many shares should my new corporation issue?

To help with the idea of how many shares are needed, here’s a little primer on:

  1. “authorized” shares
  2. “issued” shares

The number of shares authorized, the number issued, and the value of each share are usually determined in [click to continue…]

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Misleading Termination Solicitations

by Matthew Burgess 01.06.2010

The California Secretary of State has issued another warning regarding misleading solicitations. The Secretary of State’s office has been advised that letters are being sent to California corporations directing them to submit $495 and a completed form to a private company named “Business Filings Division” in order to dissolve their business entity.  A similar letter [...]

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The Zamzow Group, Inc. – Client Spotlight

by Matthew Burgess 12.31.2009

Formation Solutions client Brenda Zamzow-Frazier is a hard working woman. As owner of the Zamzow Group, Inc., a financial and accounting consulting firm based in Los Angeles, Brenda has built a successful business with clients in the entertainment, non-profit, and manufacturing industries, among others.   Formation Solutions helped Brenda set up The Zamzow Group as [...]

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End of Year Tax Tips For Small Business, Part 2

by Matthew Burgess 12.16.2009

In Part 1, we laid out some ways to plan for a lower tax bill in 2009. If you haven’t seen Part I, check it out: End of Year Tax Tips For Small Business, Part 1. Here are some more ideas for your business. Pay Your Bills Now Rent, utilities, insurance, advertising: these are all [...]

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End of Year Tax Tips For Small Business, Part 1

by Matthew Burgess 12.16.2009

Small business owners of the world: congratulate yourselves on making it to the end of a tough financial year! Your business is still afloat, still running, and still profitable despite the gloom and doom we’ve all suffered through the last 12 months. And there’s even more good news: we’re going to tell you about a [...]

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Why Real Estate Agents Form Corps or LLCs for Their Own Business

by Matthew Burgess 12.11.2009

It’s commonly know that real estate investors/owners often form an LLC – Limited Liability Company – or corporation. But it isn’t as well known why agents would want to form an LLC or corporation for their own business. Real estate investors often form LLCs after purchasing one or more properties. Holding property through an LLC [...]

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Client in the News: Brenda Zamzow-Frasier

by Matthew Burgess 12.02.2009

We’re always excited to see a Formation Solutions client in the news. Brenda Zamzow-Frazier is one of the hardest-working business owners I know, and she deserves all the success in the world. She’s built The Zamzow Group, Inc., a company that provides accounting and finance professionals, from the ground up. She was recently featured in [...]

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Don’t Wait Until January to File your Incorporation Papers

by Matthew Burgess 11.24.2009

If you’re planning a 2010 filing for your new corporation, LLC, or nonprofit, NOW is the time to get the filings prepared. If you wait until after the New Year, your entity formation will likely be put at the bottom of a very large stack. It could take months to form your business. Formation Solutions [...]

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25 Internet Startups that Bombed

by Matthew Burgess 11.19.2009

We like to be proactive and helpful with our blog. Information, insights, success stories, etc. This post admittedly is none of that. I just saw an article that takes me back to the heady days of dotcom mayhem. There are certainly some lessons here. But I suspect few readers of this blog will need to [...]

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Cogi – Turning Conversations into Action

by Matthew Burgess 11.19.2009

Cogi is a Santa Barbara startup that has created a call management system that allows you to capture the important parts of a call or meeting, record them, share the call with others, makes notes, and get a written transcription. Take a look at this Entrepreneur Highlight at SBEntrepreneur.com. Share on Facebook

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140 Characters Conference Meetup in LA with Jeff Pulver and Eric Greenspan

by Matthew Burgess 11.17.2009

I remember first learning about Jeff Pulver, and following his work to promote Internet telephony, back in ’94 or ’95. He’s kind of a legend in the VOIP world. Conferences, publications, etc. Lots of energy and foresight. More recently, he’s running the 140 Characters Conference, which took place in Los Angeles a couple weeks ago, and is [...]

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Web Video Lessons for Small Business Owners

by Matthew Burgess 11.14.2009

Mashable.com has a nice article about how small businesses can use web video to grow their business There are 25 billion videos watched each month in the US alone. That’s billion, with a “B.” So it should be no surprise that web video offers an important opportunity for small businesses to connect with a wider [...]

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Effective Cash Flow Management for Small Businesses

by Matthew Burgess 10.28.2009

Cash flow management is a critical part of running an effective small businesses. The first step to taking control of your cash flow is to get a clear picture of your cash situation, and understand how it changes from week to week, month to month, and quarter to quarter. Benefits of good cash flow management include: Make [...]

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Deciding on Entity Type – Advice from QuickBooks Help blog

by Matthew Burgess 10.22.2009

What type of business are you? Seth David, at the QuickBooks Help blog, addresses this question, and discusses how, as a financial accounting consultant, he helps his clients understand the issues and decide which business entity is right for them. Sole proprietor? Seth says that sole proprietors are much more likely to get audited. When is an LLC the [...]

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Common Early Startup Mistakes

by Matthew Burgess 10.18.2009
Thumbnail image for Common Early Startup Mistakes

I’ve been discovering Mark Suster’s blog, Both Sides of the Table, where he discusses life and times of early stage technology companies. Having been both an entrepreneur (many times over) and now a venture capitalist, he brings a unique voice to the conversation. In a recent blog post, he opines on the Most Common Early [...]

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Labor Statistics – Compelling Data Visualization

by Matthew Burgess 10.18.2009

Over at my Creatalytics blog, we’re highlighting a very cool animated map that provides a striking visual of employment trends over the last business cycle using net change in jobs from the U.S. Bureau of Labor Statistics on a rolling 12-month basis. You need to see this. Creatalytics – Data Visualization – The Geography of Jobs [...]

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