Starting a new business is exciting, but it also brings along with it a host of unknowns. Every detail counts –at the company level and more broadly – when it comes to achieving your objectives. With the range of services we offer –setting up easy-to-understand accounting and financial systems, bookkeeping, controller services, payroll, accounts receivables and payables, and high-level CFO consulting –we can improve your odds of success.
We can also help you avoid any number of landmines, including those related to local, state, and national regulatory requirements. Managing a business nowadays is far more complex and complicated than it once was, which makes it imperative to have assistance from professionals who understand the relevant issues.
It is also important to correctly set up and structure your business from the outset, especially if you eventually plan to seek outside capital or sell your company. Among the issues you will want to consider are:
Entity Selection and Business Formation
We can assist you in determining which type of entity best suits your operations and tax situation. Once a decision has been made, we can help you with the next steps, including filing the paperwork necessary to form your corporation, LLC, partnership or sole proprietorship, applying for an employer identification number (EIN) and other such identifiers, opening bank accounts, and completing and submitting any other paperwork that may be required to commence operations.
Start-Up Costs and Expenses
To get off on the right footing, it is essential that you engage in strategic, financial, tax and other planning early on. When it comes to a start-up, you will want to ensure that you secure the best possible tax advantages for the expenditures involved, including those related to preliminary investigations, up-front expenses, and other organizational costs.
In making decisions about staffing, you’ll need to consider whether workers should be treated as employees or independent contractors. Because federal and state rules and requirements related to this issue can be complicated, we can provide you with the support necessary to make the most appropriate decision under the circumstances, both now and in future.
Accounting and Bookkeeping
If you embark on a long journey, you need to make certain arrangements up front to minimize the risk of getting lost along the way. The same holds true when it comes to starting a business. To ensure you get to where you want to go, we can help you set up your accounting and bookkeeping systems, provide professional guidance based on our experience in the field, and, if required, train you to take on some of these tasks as your internal capabilities expand.