Entity Formation For Business

Forming a corporation or starting a new business?  Our entity formation services will help you ensure your assets are protected and you have chosen the best Tax Structure.  Forming your new business legally and correctly requires several steps. We’ll fill out your forms, acquire your EIN, and walk you through the process so you know your business is starting out on the right path.

New Business Formation

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.

New Business Services

  • 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

Set-Up Business Services

Business Setup Services

  • Prepare an initial business plan to clarify your marketing, management, and financial plans.
  • Determine your start-up capital needs.
  • Identify sources of start-up capital and backup sources if needed.
  • Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
  • Select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
  • Setup QuickBooks with the proper apps to run your business.
  • 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. Unplanned cash requirements are always emotionally painful.
  • Establish billing and collection procedures to maximize your cash flow.
  • Establish procedures to monitor and control costs.
  • Setup a home office so you can maximize your tax deductions.
  • Prepare and file all required state and local licenses and permits.
  • Prepare and file your application for your Federal Employer Identification Number.
  • Provide payroll and payroll tax filing when you bring on your first employee.
  • Comply with employment laws so you don’t get hit with fines and unhappy employees.
  • Identify your business insurance needs.

Let us help you succeed by setting your new business up for success with a strong start!

Still have questions?

Contact us today to get all of your questions answered.