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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!