New Business Setup
Thinking of owning your own
Owning your own business is a milestone of achievement and is
very exciting. It's everything that comes after the
excitement 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 excitement period forever. As your CPA
Firm, we understand every business owner needs timely access
to meaningful financial information and share your goals to
have the tools needed to make successful short-term and
long-term decisions. We can provide a range of business
accounting services that meet your specific needs.
In today's highly competitive environment, formal
business planning is an essential element in achieving
business success. A well-written business plan is primarily a
communication tool to be used in obtaining financing. A
methodical plan of action is needed to fulfill your dream or
goal of being your own boss and running a successful
business. The approach you take will eventually determine
your success. We assist you to avoid the common pitfalls
that many new small business owners make when starting their
We assist you...
- Prepare an initial business plan to clarify your
marketing, management, and financial plans.
- Determine your start-up capital needs.
- Identify sources of start-up capital and backup sources
- Evaluate and quantify your borrowing power so you know
how much money you can get your hands on if needed.
- 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.
- Select the right accounting software by evaluating your
budget needs and hardware.
- 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
- Establish billing and collection procedures to maximize
your cash flow.
- Establish procedures to monitor and control costs.
- Setup a home office so you can maximize your tax
- Prepare and file all required state and local licenses
- Prepare and file your application for your Federal
Employer Identification Number.
- Provide payroll and payroll tax filing when you bring on
your first employee.
- Comply with employment laws so you don't get hit with
fines and unhappy employees.
- Identify your business insurance needs.
- 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 assist you to succeed by getting your new
business off to a strong start. We provide a FREE initial
consultation to every client. Give us a call at (786)
361-3931 or fill out our contact us form. We will
contact you within 24 hours.