Small Business Owners

Employee Benefits for Business Owners

INTRODUCTION 

There is a direct link between business success and employee
benefits. Some of the most successful businesses are those with
satisfied employees. And it shouldn’t…

Financial Planning for Business Owners

INTRODUCTION 

When you are full of ideas for starting a new business, all you can
see is what’s going to happen tomorrow. The thought of having
their vision turned to reality…

Succession Planning for Business Owners

INTRODUCTION 

When entrepreneurs start a business, the last thing on their minds is succession planning. Most business owners spend a lot of time – as they should – on…

Read More

Tax Planning for Business Owners

INTRODUCTION 

Business transactions are becoming more complex each year. And with that, the world of taxation grows in complexity as well. As the rules of doing business, within a…

Read More

Planning for Business Owners

Growing a business is a difficult undertaking today as business owners must confront a myriad of tax laws and regulations while trying to effectively create products or services…

Small Business Retirement Plans

The creation of the Simplified Employee Pension (SEP) and the Savings Incentive Match Plan for Employees (SIMPLE) affords smaller businesses with a way to offer their employees a…

Executive Compensation for Business Owners

In a small business setting, it could take years to find or develop
the executive talent needed to build the business to the next level.  Executive talent is hard to come by, and…

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.

We help you…

  1. Prepare an initial business plan to clarify your marketing, management, and financial plans.
  2. Determine your start-up capital needs.
  3. Identify sources of start-up capital and backup sources if needed.
  4. Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
  5. 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.
  6. Select the right accounting software by evaluating your budget, needs and hardware.
  7. 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.
  8. Establish billing and collection procedures to maximize your cash flow.
  9. Establish procedures to monitor and control costs.
  10. Setup a home office so you can maximize your tax deductions.
  11. Prepare and file all required state and local licenses and permits.
  12. Prepare and file your application for your Federal Employer Identification Number.
  13. Provide payroll and payroll tax filing when you bring on your first employee.
  14. Comply with employment laws so you don’t get hit with fines and unhappy employees.
  15. Identify your business insurance needs.
  16. 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.

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