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.