Now that you have decided to start a business, the most important thing you can do is make sure you select the right entity type. There are advantages and disadvantages to every entity type. We can help you make the right choice, based on you circumstances (nature of business, composition of owners, ultimate goals, etc.)
We can prepare the various filings to obtain the necessary tax account numbers you need for your business. You will likely need to file a form with the IRS to obtain an EIN number. Depending on your entity choice and the nature of your business, various forms may need to be prepared and file to obtain payroll tax account numbers and a sales tax account number. You may also need to file a form with the IRS to be treated as an S corporation. Some of these filings are date sensitive. It is very important to know what needs to be filed and when based on your circumstances to help make sure your business is set up correctly from the start!
It is very important to select accounting software and implement an accounting system to ensure you have accurate financial data to manage your business profitably and to make sure you have the information for tax related filings. This is something that should be done immediately to ensure all costs related to establishing your business are captured. We can help you with the software selection and set up, as well as the implementation of an accounting system. See our accounting services page for more information.
We can provide you with tax planning services and prepare your business tax returns. See our business tax services page for more information.