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Small Business Consulting

Starting a Business

There are numerous tax considerations when starting a business. There’s no one right answer to the myriad of decisions to be made since the real right answer depends on your situation. Some decisions J Kelly’s small business consulting can help you with include :

DECIDING ON THE RIGHT BUSINESS STRUCTURE FOR YOUR PRODUCT OR SERVICE AND ITS TAX IMPLICATIONS

●   Sole Proprietorship
●   Corporation
●   Partnership
●   Limited Liability Company (LLC)

THE ACCOUNTING METHOD AND SOFTWARE YOU’LL USE (AND STICK WITH)

●   Cash or Accrual
●   Quickbooks, Peachtree, Quicken, and more

SELF-EMPLOYMENT TAXES (AND IF OR WHEN THEY WILL IMPACT YOUR SITUATION)

●   Tax rate and income thresholds
●   Social Security
●   Medicare

TAX BREAKS AVAILABLE TO YOU

●   Work opportunity credit when hiring employees
●   Disabled access credit
●   Alternative motor vehicle credit

WAYS TO PREPARE FOR TAX SEASON

●   Separating personal checking from business checking accounts/obtaining and EIN
●   Keeping driving records/mileage logs and other records
●   Estimating taxes
●   Understanding what taxes you need to pay and when to pay them

A few hours of small business consulting when starting a business could save you weeks of time and even more time backtracking to change a decision. All time that can better be spent on the exciting stuff — developing your product or service. Contact J Kelly & Associates today and ask about our small business consulting.

Contact Us Today!