NEW BUSINESS FORMATION
New Business Formation in Northwest Arkansas
Opening your own business is exciting and thrilling. The expression, "You don't know what you don't know" has never been more true! So, spend a couple of hours with us to learn the ABC's of new business startup. That small investment in the beginning will save you time and money in costly mistakes.
Sometimes people can feel nervous talking to an accounting professional such as a CPA. We want to assure you that, we are totally non-judgmental. We've been in public accounting for 23 years and this is what we know: 1) no one can accurately predict who will succeed; 2) most entrepreneurs have failed more than once at business, before they succeed; 3) the combination of skills, natural talents, shear moxie and willingness to risk, are unique to business owners; 4) bad things happen to good people; 5) we are a business too and we have experienced much of the same things our Clients have, and 6) judgment has no place in a business like ours, because we are here to help our Clients be successful.
It's never too late to get a "tune-up" and talk over what you've already done. For most business owners, it is a huge relief to be able to have a tax and accounting expert help you avoid many of the common pitfalls along the road to success!
We are here to be your #1 business consultant - giving you information and laying out choices, so you can make better business decisions as you move forward.
At Byrd & Massey, we can help you...
- Select a business structure that best fits your needs by evaluating tax advantage, legal exposure, ease of operation - Sole Proprietorship, Partnership, or one of the Corporation structures.
- Prepare and file the Articles of Incorporation, set up the Corporate Minutes Book, apply for your EIN
- Discuss your legal role and fiduciary responsibility as an Employer
- Make payroll simple by taking it off your hands
- Set up a cloud based, simple, highly efficient system of record keeping
- Submit applications for State Withholding and Unemployment Insurance
- Cover the Workman's Comp and Liability Insurance requirements
- Go over IRS record-keeping requirements
- Discuss Sales tax requirements and file for your Sales Tax Identification Number
- Show you the basic elements of financial statements and how they can help to manage your business
- Discuss our growth planning tools and services and what role we can play as your primary financial advisor
- Discuss the more common pitfalls of a new business
- Prepare an initial business plan to clarify your marketing, management, and financial plans
- Determine your start-up capital needs
- Identify sources of start-up capital and quantify your borrowing power.
- Prepare a Cash Flow Budget so you know exactly how much money you need each month.
