When you start a new business, it’s vital to make the proper government filings to protect the owners and employees of your future organization. Forming your new business is an important decision that must address state and local regulations. The goal is to operate legally and to shield new or current investments from potential risk.
State, local, and national-level regulations apply to your new small business. Registering within the county where your company operates is necessary if you plan to provide services or conduct business in that location. You will also want to complete a "Doing Business As" or DBA filing with the correct county. The DBA filing should state your business's assumed name and physical address. Our professionals at Isom Accounting & Tax CPA firm can advise you on how to file the correct forms with the appropriate county to protect your assets.
Branding: use your new business name with new clients or vendors.
Versatility: you can form several new businesses & brands registered to the same owner.
Credibility: customers can verify that you are a legitimate business through state and local authorities' records.
Isom Accounting & Tax CPA firm can provide owners with formation services that establish the organization as a Limited Liability Company (LLC). Forming an LLC offers personal protections for owners, employees, and key stakeholders.
Asset Protection - LLC owners are protected against creditors if the company acquires substantial debt. Protection against creditors shields your assets, such as your property and savings accounts. One of the most important steps to ensure you receive these protections is correctly forming the LLC according to regulations and filing the appropriate documentation with your state.
Perpetual Succession - An LLC can continue operating after the owner's death. The benefit of an LLC in most U.S. states is essential protection that vendors and key stakeholders within the company seek since it ensures continued operation if the owner dies.
Tax Savings - An LLC saves business owners on taxes since they are not required to pay taxes at the business level. The way that tax benefit works are by including the business income or loss directly on the taxes of the business owner. This allows the business owner to deduct or write off business expenses from the LLC's profit.
Isom Accounting & Tax CPA firm can help ensure that your LLC filing includes these benefits to maximize tax savings.
Business owners with a workforce of more significant than 500 employees benefit from filing as a corporation. A corporation filing requires extensive legal knowledge and recordkeeping to protect assets and employees from potential debt. This process takes a professional team to advise and ensure that all legal and tax considerations are correctly filed. Isom Accounting & Tax CPA firm is ready to help business owners analyze the benefits and tax considerations. We will help determine if filing as a corporation is best for your new business.