You have the idea. You have the skill of a trade for which you are passionate. You believe there is a need in your area or on the internet for your services. Where to begin is BIG question. What kind of business structure should I have? A sole-proprietorship? An LLC? A Corporation? A Partnership? To whom should I go visit first, an attorney, the banker, or my tax person?
To often when starting a new business the prospective new business owner goes either to the attorney and/or the banker first and never considers their tax person. Many times the tax person does not learn of the business until the time comes to file the tax return. In fact, the first stop when looking to start the business should be to the tax preparer’s office.
For example, when a client or potential client comes in or schedules a video conference, we sit down and have a free discovery session about their business idea. We want to help you own a business that will bring you the joy and freedom you deserve. From the beginning, you will learn the correct steps to become profitable faster.
First, you will need a business plan to document success for your business. The plan will identify your unique elements for success.
Second, what business structure will give you the most benefits and protection? By analyzing your goals and understanding the tax advantages and disadvantages of each structure you will be able to know whether you should be a corporation? LLC? or Sole Proprietorship?
Third, we will help with the heavy lifting of startup for your company, including tax registrations, Federal ID numbers, assistance with bank accounts and more.
Fourth and most importantly, you will need to manage profits. We help to implement your accounting and payroll systems, so you can fully understand the status of your business and know when to make adjustments.
A customized success plan designed just for you will help you to take the right steps from day one and put you on the road to making a profit.
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