New Business Formation
Assisting New Business Startups in
Starting your own business is an exciting new experience, but it can also be quite a challenge. At Greyson Tax & Consulting, our business startup services can help you begin your business smoothly and take the stress of paperwork off your shoulders. Our team is skilled in various bookkeeping and accounting methods that can help you navigate the obstacles of starting and running a small business.
By providing you with the information you need, our EAs and CPAs can help you make decisions to grow your company. We are the team you can count on for all your startup and business consulting needs in . Contact us today to schedule an appointment.
Choosing the Right Business Entity
Your business structure has a significant impact on how much you will pay in taxes. That means it is one of the most important decisions you have to make. We can help you choose the correct entity from the start. By evaluating different structures for tax planning advantages and ease of operation, we can find one that fits all your needs.
Here are the different business entities you can choose from:
Sole Proprietorship: If you are looking for a simple business entity to establish, this is perfect for your needs. It’s an excellent choice for a single person who owns and operates his company. That way, you can add your business income and expenditure to your personal income tax returns for easy and quick filing. This type of entity is also unincorporated, and you will be responsible for all the liabilities since it’s not a separate legal entity from the owner.
Partnerships: With this type of entity, you and two or more other owners need to sign a written agreement to share in the responsibilities of managing and operating a business together. You will also share the gains and losses. Additionally, when tax filing returns, each partner must report their share of the profits or losses.
C- Corporation: This entity differs from a sole proprietorship in that the business becomes a separate legal entity from the owner. It also limits the liability of its owners and other investors. You are not liable for its losses, and each shareholder or owner will pay taxes based on profits and corporate dividends.
S- Corporation: This entity often appeals to new startups because it offers tax benefits and protects owners from liabilities. It passes credits, deductions, income, and losses to its investors. Even so, you need to strictly adhere to all the accounting and legal rules unique to this entity.
Limited Liability Company: This is a unique hybrid entity. It combines either a sole proprietorship or a partnership with a corporation’s characteristics. As an owner, you will not be personally liable if your business experience losses.
Efficient Bookkeeping and Accounting Systems
Accounting and bookkeeping are critical to your startup. Our accounting services use your business records to analyze your financial health and make recommendations. Bookkeeping tracks your daily activities and ensures your records are accurate and updated. Our accountants can also review your financial statements for any errors and advise you on financial matters and budgeting.
We are always up to date with the ever-changing tax laws and regulations, and your bookkeeping will reflect that knowledge. Additionally, Greyson Tax & Consulting provides you with individualized services to help you:
- Prepare business plans
- Identify startup capital opportunities
- Develop a cash flow budget
- Prepare and file your FEIN
- Organize your records
- Manage your finances
Part-Time CFO Services
As part of our startup business consulting, we can provide part-time CFO services. Our team can oversee and protect the financial side of your business and provide suggestions for improvement moving forward. Our CFO services identify trends and analyze tax-saving strategies. We also give you access to the most up-to-date financial systems to guide your business growth.
Start Your New Business in with Confidence
At Greyson Tax & Consulting, we take pride in providing premium services for small business startups in . We focus on what makes your business stand out and identify opportunities to thrive. Our skills, experiences, and expertise ensure that you can start your business right. Our skilled CPAs and EAs can set up compliant, customized systems and organize your financials into meaningful reports so you always know how your business is performing. Contact us to schedule a consultation today!