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Discussing the Numbers

New Business Start Ups

Personalized Care for All Your Accounting Needs

New Business Start Up

Top Six Tips:

  1. Decide what type of business enity you are going to establish: Sole Proprietorship, Partnership, Corporation, S-Corporation, or Limited Liabiltiy Company.

  2. They type of business you operate determines what taxes you pay and how you pay them. The four general types of business taxes are: income tax, self-employment tax, and excise tax.

  3. You will need an Employer Identification Number, which is used to identify your business.

  4. Keep good records, which will help ensure successful operation of your new business.

  5. You must pick your tax year. The most common are the calendar and fiscal year.

  6. You must also use a consistent accounting method, which is a set of rules for determining when to report income and expenses.

For New Business Start-Up, we will answer all of your questions and file all the required form to have your business up and running. We are here to help you with the day to day activities of reporting your income. If the time should come that you ever need to close your business, we will prepare all the forms necessary with the IRS and State.