Starting A New Business? See Your CPA First!

More new businesses have sprung up in the current economy than in any other time in history.

Whether through corporate downsizing, or the need to fulfill entrepreneurial goals, more Americans are relying on themselves for employment.  Once you’ve made the decision to strike out on your own, and you’ve decided what kind of business you want to run, it is time to call McIlvain & Associates, CPAs, for business start-up advice.  An investment in time and consultation now can save many headaches and money in the future.

Most small businesses fail within the first year, primarily due to undercapitalization.  Have your business plan reviewed by the CPAs that understand start-up enterprises and that can advise on the challenges you’ll face.  McIlvain’s business consultants are here to enlighten you on aspects of doing business that you may not have considered.  Begin with a plan that will work to bring you success.  If you don’t have a written business plan, it is even more critical to seek our advice on where to start.  Contact us now for a complimentary thirty minute consultation.

Business structure is an important consideration.  What will work most appropriately for you?  Sole proprietorships, limited partnerships, limited liability companies, Sub S corporations or C-Corporations each have their own benefits and downsides.  Before making that election and filing paperwork with the state, talk with your CPA and understand the ramifications of each structure. We will guide you through applying for the appropriate tax identification numbers and licenses, once you’ve decided.

Because we work with a wide variety of business types, we know what you can expect and can probably enlighten you to many things you haven’t considered.  Many do not have realistic expectations of the expenses it will take to launch and operate the business.  Others forget to plan for marketing, overhead, taxes, interest and other costs that come with business operation.  The full service accounting professionals at McIvain & Associates, CPAs will help prevent tax issues and help set up the necessary bookkeeping systems to help your business operate smoothly.

The CPAs at McIlvain &Associates do much more than prepare your taxes once a year.  Having an ongoing relationship with your certified public accountant can help your business cash flow planning, payroll preparation, inventory control, audits, and organization. State and federal tax laws are frequently changed and it can be difficult to stay current on them.  Our CPAs will do that and will also work with you to help preserve income against taxation, whenever possible.  Contact us now for more information and a free thirty minute consultation.

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