Starting a new business is a fulfilling endeavor with its own rewards and excitement but it can stress you down and wear you out. Being your own boss can prove to be harder than having a boss. There are a lot of decisions you need to make, financial decisions being the most complex. Minor mistakes in the initial part can impact future profitability to a huge extent. To make sure you avoid these minor mistakes, contact Focus Accounting.
At Focus we stay with you from the time of your commencement throughout all the stages of your growth. We offer a variety of services from organizing your books to drafting them. Moreover, we adjust the business plan all throughout the business. With a team of experienced accountants we will plan your taxes in order to make them more efficient and maximize your profits. With Focus, you can focus on the excitement and thrill and leave all the hassles to us.
We will help you to
- Develop an initial business plan that clarifies all of marketing, management and financial plans
- Evaluate the start-up capital needs
- Determine sources of start-up capital and backup sources if needed
- Determine borrowing power of the company so to determine the amount of money you can get when needed
- Choose a business layout that suits your needs the best by evaluating tax benefits, legal exposure, ease of operation and portability should you need to relocate
- Choose the best accounting software by evaluating your needs, budget and hardware
- Organize a Cash Flow Budget for the first few years
- Form billing and collection procedures to maximize your cash flow
- Create procedures to monitor and control costs
- Formulate and file all required state and local licenses and permits
- Organize and file your application for your Federal Employer Identification Number
- Plan payroll and payroll tax filing for your employees
- Reconcile employment laws to avoid Human Resource problems
- Determine your business insurance needs
- Formulate a strong Partnership Agreement that will help avoid a lot of financial and emotional problems down the road
Ref: http://www.mytaxesmadeez.com/services/business-services/new-business-formation/