Benefits of Incorporation
- Personal Asset Protection – Corporations & LLCs afford personal asset protection as long as business & personal assets are separated. For a sole proprietor, the owner's liability for business debt is unlimited. Personal Assets such as Real Estate and personal bank accounts may be at risk.
- Credibility – Doing business as an incorporated entity gives credibility and may give potential vendors, customers, financiers more confidence about the business relationship.
- Name Protection – no other Entity can file with the same name in the State of Incorporation
- In most cases it will be tax advantageous to incorporate. For instance, a sole proprietor is required by the IRS to pay self employment tax at the rate of 15.3% (currently) on any profit (after deduction of expenses).
Business License & Permits
Compliance with state, county and local government in addition to the Federal Government is paramount to doing business in the USA. Keeping on top of the filings and knowing what needs to be filed can be frustrating. Not keeping up with the filings or filing the required paperwork can lead to notices, penalties and interest and/or the inability to conduct business. Let us help you so that you can spend your time where you want to! $75
Corporate Bylaws & LLC Operating Agreements
These are records that do not need to be filed with the Secretary of State, but are required by State Law as part of the incorporation paperwork. You will need these to be readily available for a number of reasons, including
- To obtain financing
- To open a Business Account at a Bank
- To obtain a Grant
Employer Identification Number
Federal Employer Identification Number (EIN) is similar to an individual's Social Security Number but is for a Business. The following Entities are required to obtain an Employer Identification Number:
- All Corporations
- All Limited Liability Companies (with more than one member)
- Any business that hires employees.
An Employer Identification Number is also required to open a Bank Account.
Certificate of Good Standing
This is a certificate that confirms an Entities good standing with the State, it also shows that the Entity has complied with all annual reporting requirements. It may be requested by:
- States (other than State of Incorporation)
- Potential or Current Lenders
- Banks or other Financial Institutions
Bank Account Resolutions
This document may be required by a Bank in order to open a Business Bank Account.
Dissolution of an Entity (Closing a business)
Closing a business can be a frustrating and daunting task. In order to stop annual tax & fee liabilities to the Government, it is essential to timely file the required paperwork. Not doing so, can result in problems such as:
- Becoming personally liable for a defunct Entities Tax or other Liabilities
- Assessment of Penalties & Interest
Why would a written consent be required?
- Changing LLC Members
- Changing Corporate Officers
- Issuing Stock
- Bookkeeping /Bookkeeping/Accounting Review - QuickBooks, Peachtree, MYOB
- Payroll/Full Service Payroll - Weekly, Monthly
- Sales Tax Returns
- Taxation/Tax Preparation (all entities) and Advice - Planning & Return Preparation - Individual, Corporate, Estate, Trust, Non-profit, Sales Tax, Payroll
- Business Management
- Outside Controller/Outsource CFO Services
- Incorporation Services for different Entities
- Business Valuation
- Financial Planning
- Forensic Accounting
- Technical set-up and support
- Financial Statement Preparation
- Business Consulting, including cash-flow analysis, financial reporting and controls, business process improvements)
- Representation at IRS, State and Local Audits
- Commercial Financing
- Mergers & Acquisition Consulting