Thinking of starting your own business? Starting your own business is part of the American Dream. A methodical plan of action is needed to fulfill your American Dream. 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. Contact us so we can help you…Our business start-up specialist are strategically located in Queens near Brooklyn with a satellite in Manhattan.
1.) Prepare an initial business plan to clarify your marketing, management, and financial plans.
2.) 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.
3.) Select the right accounting software by evaluating your budget, needs and hardware.
4.) 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.
5.) Establish billing and collection procedures to maximize your cash flow.
6.) Establish procedures to monitor and control costs.
7.) Setup a home office so you can maximize your entitled tax deductions.
8.) Prepare and file all required state and local licenses and permits.
9.) Prepare and file your application for your Federal Employer Identification Number.
10.) Provide payroll and payroll tax filing when you bring on your first employee.