Thinking of starting your own business?
Opening your own business is exciting and thrilling. It’s everything that comes after the excitement has worn off that dictates whether a small business will make it or not.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners encounter when starting their new venture. Furthermore, our incorporation and LLC formation services cost substantially less than what most local attorney’s charge.
Our Business Formation services include…
Prepare an initial business plan to clarify your marketing, management, and financial plans.
Determine your start-up capital needs.
Identify sources of start-up capital and backup sources if needed.
Select a business structure (Corporation, Partnership, LLC, etc.) that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
Select the right accounting software by evaluating your budget, needs and hardware.
Prepare and file all required state and local licenses and permits.
Prepare and file your application for your Federal Employer Identification Number.
Provide payroll and payroll tax filing when you bring on your first employee.
Make an S-Corp election if it’s the proper structure for your business.
SELLING YOUR BUSINESS
What are the Tax Considerations When Selling Your Business?
Many buyers and sellers of businesses put tax issues on the “back burner” and don’t consider tax consequences until after a deal is struck. Ignoring tax considerations at the outset of a transaction is a big mistake and can put you in an adverse negotiating position, even if the letter of intent that was signed was “non-binding.”
No seller of a business should agree on any aspects of the deal until they meet with a competent tax adviser who can explain, given their specific situation, where they will wind up after the deal closes on an “after-tax” basis.