Katz&Co has decades of experience in profitable guidance and services in creating a business formation.
Business Formation Decisions
There are many choices to be made in getting started. A fundamental decision which will have long term consequences on how you do business formation is the form your business takes. Here are some of the choice Katz&Co can guide you through:
- Should I form a corporation?
- If so what kind?
- S or C?
- Will I have partners and how many?
- General Partnership?
- Limited Partnership?
- Limited Liability Partnership (LLC)
Katz&Co will listen to your business plans and advise what will work best for you. The liabilities, regulation and tax issues of each will be explores with you so you full participate in the decision. Working with you the best business. formation strategy will be developed
Once you pick a structure for your new business Katz&Co will get you through the initial state and local regulations to be compliant so you can get down to doing business.
Ongoing Business Formation Support
But this is just the start. Katz&Co can provide you with services and support to get your business running correctly and profitably and to put you on control of its future. Services provided include:
- 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 if needed.
- 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 emotionally painful.
- 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 deductions.
- Prepare and file all required state and local licenses and permits.
- 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 help you succeed by getting your new business off to a good strong start. You can find out more about our services contact us for more information or to set up a consultative meeting in our convenient Bethesda offices