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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Get started with Paramount for your tax services in Utah, {fran_state_abbrev}, recommended by family and friends every time.

Contact Paramount Tax

Easy Online Scheduling

Get started with Paramount for your tax services in Utah, {fran_state_abbrev}, recommended by family and friends every time.

Contact Paramount Tax
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Utah tax preparation

Paramount Tax tax accountant

Call 801-890-4777 today!

I have absolutely loved working with Lexi and the whole team at Paramount. I’m never stressed anymore and I feel like I always know what I’m doing.
— Logan Martin, Posted November 25th 2023 on google
Lexi is knowledgeable and always helpful.
— Monte Nettles, Posted July 22nd 2022 on google
Very knowledgeable and helpful. I will definitely be enlisting their services in the future. Thank you!
— Jeremy Mathis, Posted November 15th 2023 on google
Very informative discussion with Jeff on tax planning strategies. He is forward thinking and offers a tremendous amount of practical knowledge.
— Armand Evangelista, Posted November 14th 2023 on google
They are great to help you plan for the future and provide solutions for you.
— Lotus Spring Acupuncture & Wellness, Posted November 8th 2023 on google
Jeff was very informative and made me feel confident moving forward with my new business. I am excited to continue working with him.
— Blake Porter, Posted November 2nd 2023 on google
Jeff has an amazing grasp of the tax code and understand how to help with strategy. I am so happy to recommend him!
— Sterling Oaks, Posted October 31st 2023 on google
Super knowledgeable and helpful
— Rich Kindred, Posted October 30th 2023 on google
Jeff is always very personable and has tax strategies that save me a fortune at tax time.
— joseph henrie, Posted October 30th 2023 on google
I had the pleasure of talking to Jeffrey and he answered all of my questions. I'm excited to start working with him and highly recommend him to anyone looking for a good accountant
— Bruno Araujo, Posted October 21st 2023 on google
Lexi, Jeff, Talena and Douglas were world class. Very helpful and patient as well. They are great at explaining things and making the tax season manageable. Highly recommend and would give six stars if possible.
— Michael Wigton, Posted October 16th 2023 on google
Dave is the bomb! He helped us get a substantial refund back. But, more importantly, he is helping us have a better tax strategy for the future.
— Mandy C. Pyne, Posted October 16th 2023 on google
Dave Southwick is great to work with; he knows his stuff and is always positive -- even in the heat of battle during all the sleep deprivation of the busiest weeks of the tax year.
— Brian Hansen, Posted October 13th 2023 on google
I can't express enough how incredibly pleased I am with the services provided by Paramount Tax. From the moment I walked into their office, it was evident that this team truly cares about their clients' success. What stood out to me was the one-on-one consultation where they patiently explained the entire process, bre...
— Sterling Jones, Posted October 1st 2023 on google
Jeff was amazing. I aporeciated his ability to tailor tax scenarios to better help me prepare for my next tax cycle.
— Jason Hassard, Posted March 14th 2023 on google
I had a great experience with Paramount. They are professional, knowledgeable, and friendly. They answered all my questions and explained everything clearly. I highly recommend them to anyone who needs tax help. They are the best tax accountants in town!
— Sergei, Posted September 22nd 2023 on google
I like them going to enjoy doing business with them 👍
— errol nelson, Posted September 21st 2023 on google
I’ll never do taxes without these guys again!!
— Kelsey Boyce, Posted September 21st 2023 on google
Paramount is great!
— Matt Boyce, Posted September 21st 2023 on google
Jeffrey is personable, professional, & informative. He asked clarifying questions and recommended a CPA that could help file the trust return I'll need since mom's death.
— Diana Gonzalez, Posted September 18th 2023 on google
New Business Formation awards

Winner! 2017 Angie's List Super Service Award.

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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 CPAs, EAs, and Attorneys 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!

Free Consultation 801-890-4777

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 such as Certified Public Accountants (CPAs), EAs and Attorneys, 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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Paramount Tax is now offering financial and tax franchises across the US!


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Let us make our success into your success!

Franchise Information Call: 801-890-4777

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