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Too often, the small business person feels that they are alone in their struggle for success. It doesn't have to be that way. As a professional on your team, I can bring critical services to the table, including:
- The Small Business Startup Package
- Selecting a Form of Business
- Registration with Federal, State and Local Agencies
- Tax Election for "S" Corporations
- Best Practices for the Small Business
- Next Steps After Forming Your Business
The Small Business Startup Package
To get your new small business off the ground as fast and effectively as possible, I offer a special flat-rate Small Business Startup Package. This package includes:
- An hour-long initial consultation on the form of business (sole proprietor, corporation, partnership, etc.) that is best for you.
- Registration with the appropriate federal, state and local agencies your business will be required to register with.
- Filing an "S" Corporation election for those choosing this form of business.
- An hour-long wrap-up consultation to discuss the next steps your business should take.
I offer the Small Business Startup Package for a flat rate of $395. This service is best suited for those entrepreneurs who have substantially completed planning their new business (strategic planning, financial, marketing, etc.) Please see my Useful Links for useful planning and financial resources. A very useful business planning resource is available at no cost through SCORE. I am a volunteer counselor with the Ft. Vancouver Chapter of SCORE, and highly recommend their services.
Please note that if you need to consult an attorney for legal advice in drafting your articles of incorporation, partnership agreement, or limited liability company provisions, any legal fees incurred are not included in the price of our startup package. Any licensing or registration costs are also not included in the package. More detail about the services included in the package may be found below.
Selecting a Form of Business
The form of business you select has important tax, legal and liability ramifications. I can advise you of the tax implications, and have a referral network of lawyers and insurance professsionals to help you with the legal and liability issues. Once the type of business has been selected, I can help signficantly with forming and registering your business. To help you get started, a comparison chart of the different types of business entities is included below.
- Business Entity Comparision (HTML format)
Registration with Federal, State and Local Agencies
Concurrent with the formation of your business is registration with a multitude of federal, state and local agencies. These agencies have a specific interest in your business complying with a variety of federal, state and local laws and regulations, to include incoporation, name registration, tax and employer taxes registration, and business licensing, to name the most important ones. Each agency has a particular method of registration, and I can help shepherd you through this process. To get an idea of the various agencies involved, please refer to my Useful Links page.
Tax Election for "S" Corporations
The "S" Corporation is a popular form of business which has a particular set of qualifying steps that must be carefully taken in order to ensure a proper election. I can help guide you through the election process to ensure your "S" Corporation election. I can also advise you on the ongoing steps you'll need to take in order to maintain your election.
Best Practices for the Small Business
Both a corporation and a limited liability company offer protection to a businessperson's personal assets. However, a corporation has a number of formalities that must be followed, for limited liability to be effective. The corporate veil can be "pierced" and personal assets may become vulnerable if the officers and directors do not conduct operations in a business like manner. This is especially important for small, closely held corporations. Good business practices which I can help you establish include:
- Comply with the formalities of holding regular meetings and keeping accurate minutes and records.
- Adequately capitalize your corporation.
- Strictly segregate personal and business assets, including maintaining a separate corporate checking account.
- Avoid personal use of business assets, including corporate vehicles, computer equipment and telephone.
Next Steps After Forming Your Business
A trait of the most successful small business person is the ability to plan ahead. After it starts up, your small business may need additional professional services. I offer these other services for the small business:
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