You need three things to create a successful startup: to start with good people, to make or provide something that potential customers actually need or want, and to spend as little money as reasonably possible to do this. Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed.
While we cannot provide you with the magic idea or business for success, we can help you get started successfully as it relates to forming the right business structure, choosing the right accounting information system and helping you with your taxes and financial reporting.
Business Structures – Corporations, Partnerships and Limited Liability Companies
There are a variety of organizational structures available to new business owners. The most common include forming a corporation, limited liability company (LLC) or partnership. Each type has unique advantages and disadvantages. It is easy to get confused, or worse, choose the “wrong” type or not file the appropriate forms and elections timely that can cost you time and money. There are also special considerations when there are foreign owners. Professional guidance from an experienced tax attorney or CPA is a smart choice and quite affordable. Call us now to get started!
Accounting Information Systems
Once you formed your business you will need to track your business income and expenses, customer invoices, payments, bills, payroll, etc. It is important you have the “right” accounting system in place from the start. Complete accounting software applications are very affordable. You can buy many of these products directly from us and at a better price than directly from the manufacturer. We have affordable set up packages to help you get started and set up correctly and quickly. Call us now to get started!
Tax Filing and Reporting Requirements
There is quite a lot of information to know regarding your tax filing and reporting requirements. There are income taxes, sales taxes, payroll taxes and other filing and reporting requirements for new businesses. Missing an important deadline or payment can be quite costly. Hiring the “right” CPA firm to help you will save you time and money. Call us now to get started!