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Accounting Bookkeeping Payroll Financial Statement

Entity Formation For Business

Everything You Need for Building A Business

A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take.

Business formation for a new business has many financial considerations and tax implications. For example, forming an LLC without considering the tax implications can cost you a fortune. Our Profit Wise Advisors will guide you in the right direction and help you make informed, profit advantageous decisions. We’ll explain how different tax structures might affect your tax liability and help you decide between a LLC, LLP, C Corporation or S Corporation.

With over 30 years of accounting and business advising experience, we’ll strategize the formation of your business to maximize tax benefits. As your business grows and prospers, we continue to adjust this strategy to keep current with changing tax laws, deductions and credits.

In summation, with our advice and support, you will avoid unnecessary complications and be on track for the highest potential profits.

What Services Does Profit Wise Offer to Set Up a Business?

  • Entity selection- Sole Proprietorship, Partnership, LLC, S-Corp
  • Operating Agreement creation
  • Paperwork filing with government agencies
  • Business advisory for new businesses
  • Tax planning strategies
  • QuickBooks™ setup and training
  • Bookkeeping, Payroll, Tax Payments, and More

How In-Depth Are profit wise’s business services?

Identify your business insurance needs

Comply with employment laws so you don’t get hit with fines and unhappy employees.

Provide payroll and payroll tax filing

Prepare and file your application for your Federal Employer Identification Number.

File all required state and local licenses and permits.

Maximize your tax deductions.

Monitor and control costs.

Maximize your cash flow.

Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. 

Setup QuickBooks with the proper apps to run your business.

Select a business structure that best fits your needs 

Evaluate and quantify your borrowing power

Identify sources of start-up capital and backup sources if needed.

Determine your start-up capital needs.

Prepare an initial business plan to clarify your marketing, management, and financial plans.

Questions?

Forming a corporation or starting a new business? Let us help you! Schedule a consult today.