Tax Consultation on Startup Businesses
Our professionals help clients with starting new businesses. For example, we may advise on entity selection by suggesting the best way to structure the business (sole proprietorship, partnership, corporation, LLC) for tax purposes. If you have a business plan, we can provide a review to diagnose any problem areas. There are many factors to consider, and we will help you avoid mistakes. It’s very important to seek professional advice in new business ventures to avoid the pitfalls and think through wast must be considered from a financial perspective in order to achieve your goals. Proper planning is paramount. Harless & Associates can also assist with:
- Selection of entity structure to fit your needs, registration and application for Tax ID number.
- Thorough review of business plan.
- Determination of capital needs and introductions to lenders.
- Identifying the proper accounting software for your business.
- Budget preparation and interpretation.
- Assist in establishing billing and collections protocols for your business.
- Formation of procedures to monitor and control costs.
- Checklist for preparation of all required state and local licenses and permits.
- Payroll considerations and filing.
- Evaluate and recommend business insurance for your specific business.
Clients ask the professionals at Harless & Associates “Should I form an LLC or an S corp? What is the difference between a C corp and an S corp?” We explain the pros and cons to each form of business entity to our clients and help them decide what business tax structure works best for them now and later.
The Harless & Associates team can set up your new company and secure its federal employer identification number. We also have a referral network of attorneys to call on in the event your new company needs a more sophisticated operating agreement for multiple owners.
Establishing Books and Records
Harless & Associates has worked with many startup companies over the past three decades. Are you unsure which software is best for your startup? Do you need assistance determining what to have in a chart of accounts or even what a chart of accounts is? The professionals at Harless & Associates can advise you on the benefits of the many different accounting software programs and explain how to set up your industry specific accounts.