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. As one of the top Bookkeeping firms in Sugar Land / Richmond, we help you avoid the common pitfalls that many new small business owners make when starting their new venture.
Our tax advisors in Sugar Land / Richmond 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 bookkeeping 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 & Bookkeeping in Sugar Land / Richmond 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.
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Free 3-Year Tax Review
We review 3 years back to find errors / missed deductions.
Paramount Experience
Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and bookkeeping firm, such as Paramount Tax & Bookkeeping in Sugar Land / Richmond, is that we know taxes!
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 Business Incorporation firm in Sugar Land / Richmond. So when you ask yourself, "Where can I find bookkeeping services near me?"... think no further than Paramount Tax & Bookkeeping in Sugar Land / Richmond!
Upgrade to Tax & Bookkeeping Firm
Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and bookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and bookkeeping 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 & Bookkeeping in Sugar Land / Richmond a call or visit our tax and bookkeeping firm in Sugar Land / Richmond for a free consultation.
