New Business Formation

Thinking of owning your own business?

Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill 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 "thrill and excitement" period forever.

A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. 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.


We help 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 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.

Contact Paramount Tax and to see how we can help you succeed by getting your new business off to a good strong start. Please complete the form below to learn more about our New Business Formation Services.

New Business Formation

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Utah tax preparation

Paramount Tax tax accountant

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Malcolm was super awesome! Originally we had an appointment with someone else but Malcolm assisted us cause the other person was in his appointment late. He was super fast and helpful and went over everything. Thank you Malcolm!
— Alex Green, Posted March 27th 2024 on google
Third year with Paramount and they never disappoint. Always efficient and give great advice. Super helpful for new small business owners. Thanks Team
— Julienne Pixton, Posted March 27th 2024 on google
Quick and painless taxes every year. I wish I could leave a review every time I work with them.
— James Benson, Posted March 26th 2024 on google
We love working with Paramount Tax. They are so helpful and knowledgeable and easy to work with. Lexi did my taxes this morning and she was so kind and patient and thorough and answered all of my questions.
— Jessie Ellertson, Posted March 26th 2024 on google
Everybody in the office was very nice and welcoming. Ron is amazing! It was my wife’s and I first time filing together and he made it very easy and even fun!
— Spideysense, Posted March 25th 2024 on google
everyone at the office is super nice and knowledgeable! ron was awesome!
— Hannah Lee, Posted March 25th 2024 on google
Sidney is an absolute legend and deserves a raise for her A+ service. We are very impressed.
— Joel Jones, Posted March 23rd 2024 on google
Been going for a couple years now. They are on it. Always treated with professionalism, respect and courtesy. They are very reasonable in pricing and I highly recommend Jeff and Lexi without any hesitation!
— Kristine Jones, Posted February 21st 2023 on google
Very professional and friendly. They make a complicated tax process so simple! 100% recommend
— Sharlissa Olson (Punskittles), Posted March 22nd 2024 on google
First time working with them and will be back. They were quick and efficient and knew their stuff and were happy to help me understand options and considerations.
— Rich Kindred, Posted March 22nd 2024 on google
Efficient, friendly, confidence-inspiring
— Diane Empie, Posted March 20th 2024 on google
This was our first time using them and they were great. They were quick and very knowledgeable. We will definitely use them again.
— Erica Nielsen, Posted March 20th 2024 on google
Fast, friendly, efficient. I've been going to Paramount to get my taxes done for years and I wouldn't even think about going anywhere else!
— Travis Braun, Posted August 3rd 2019 on google
Paramount was very knowledgeable, professional, and pleasant. I recommend them.
— James Mottola, Posted March 18th 2024 on google
Paramount Tax is awesome! They make filing easy and fast! I highly recommend for people with slightly complex tax situations (i.e. schedule C, stock options, etc).
— Stephen Ross, Posted March 18th 2024 on google
Everyone at this office is so kind and friendly and super helpful! The accountant who helped me is named Braden Thompson and I’m bringing all my business friends and clientele to him because he worked miracles on my business taxes and personal as well—he is so knowledgeable and goes over and beyond to help! Best ac...
— Belle Thompson, Posted March 18th 2024 on google
I wish I could rate this place 10 stars. Jeff have taken incredible care of me and the many friends and family I’ve sent their way.
— Jackson Haight, Posted March 15th 2024 on google
I am new to Paramount. I had a great experience, they gave speedy and friendly service. They provided great information about my taxes. I will use them in the future.
— Steven Fleming (S Fleming), Posted March 13th 2024 on google
Lexi and Doug were awesome at helping us not only get our Business and Personal Taxes figured out but their pointers and assistance with our accounting was extremely helpful! So glad we have found you guys! A sincere THANK YOU!
— Jinelle Barrow, Posted March 14th 2023 on google
If you dread doing taxing, these are your guys. I have a side gig that has made things difficult for me in the past, but it was a breeze this time.
— Bella Stucki, Posted March 11th 2024 on google
New Business Formation awards

Winner! 2017 Angie's List Super Service Award.

Testimonials Awards

Paramount Experience

Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Paramount Tax, is that our firm utilizes the services of licensed tax professionals who are distinguished from other finance professionals by stringent qualification and licensing requirements. Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 New Business Formation firm in America. So when you ask yourself, "Where can I find New Business Formation services near me?"... think no further than Paramount Tax!

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Upgrade to Tax & Accounting Firm

Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accounting firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accounting firm utilizes licensed professionals who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax a call or visit our tax and accounting firm for a free consultation.

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