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New Business Formation

Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the “thrill and excitement" period forever.

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. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.

  • 1. Select a business structure – D/B/A, LLC, S corporation, C corporation and Non-profit Organization – that best fits your needs by evaluating tax advantages, legal exposure, ease of operation and portability should you need to relocate.
  • 2. Prepare and file all required state and local licenses and permits.
  • 3. Prepare and file your application for your Federal Employer Identification Number (EIN).
  • 4. Provide payroll and payroll tax filing when you bring on your first employee.
  • 5. Comply with employment laws so you don't get hit with fines and unhappy employees.
  • 6. Identify your business insurance needs.
  • 7. Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.

Why is incorporating a business important?

The primary benefit to business incorporation is limited liability. When you own a small business, you will invest a lot of money into not only getting it launched, but in keeping it running smoothly as well. As the owner you are responsible for any debts and losses your business may accumulate along the way. However, when you incorporate, you are typically only held responsible for the amount of money you personally invest. Your personal assets typically cannot be used to satisfy the debts and liabilities of your business.

Let us help you succeed by getting your new business off to a good strong start.



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