Starting a new business
Starting a new business can be very exciting—and
potentially quite confusing. What’s the right business
structure for your venture? When should you incorporate? How
can you make sure that you’re keeping the right records
and filing the right forms?
Business structure and incorporation
Liability protection is the main reason to
consider incorporating your business. But incorporation will
also have important consequences for your taxes. You’ve
probably already heard about the many tax benefits of LLCs,
S-corporations, and C-corporations. Those benefits, however,
may not actually outweigh the cost of incorporation itself.
The kind of business structure you should choose doesn’t
just depend on what you sell and how you sell it. It depends
on how much money you earn and how many employees you have.
In fact, it may even depend on where you live.
There are a number of different factors to
be considered, and every case is unique. I’ve helped hundreds
of entrepreneurs and small businesses evaluate the structure
that’s right for them. Call me for a free
consultation, and I’ll help you understand your options.
Record keeping and tax preparation
It may seem like a chore, but careful record
keeping can be a valuable tool for evaluating the health of
your business and planning future growth. It also makes tax
preparation a lot easier. I can help you set up quick and effective
bookkeeping systems, advise you about what kinds of tax forms
you’ll need to file, and even help you prepare them. You’ll
be able to see exactly how your business is doing, and where
there’s room for improvement.
For more information about record keeping
and business tax preparation, see Business
tax returns and planning.
Business strategy and planning
Most businesses start out small. But it’s
important to think ahead and prepare for future growth. If you
take the time to strategize now, you can save money while building
your business, and you can prevent tax problems before they
arise. So whether you’re looking to take your sole proprietorship
to the next level or simply investigate how you might turn your
ideas into a profitable business, I can help you come up with
a plan. Call now for a free phone consultation.