We help your new business take flight.
With experienced help, you can overcome the challenges and pitfalls of starting a new business. From filing forms and developing your business plan to setting up your operations – all these responsibilities can feel daunting for a first-time entrepreneur.
It begins with a good blueprint. Your business plan takes your basic ideas and builds an outline with concrete details and goals to follow. This business plan also acts as your pitch to potential investors or lenders. We know how to build business plans to wow investors, and having a professional accountant on your side lends credibility.
Choosing Your Business Type
Choosing your business type is another critical aspect of business formation. Everything from taxation to regulations and legal liability is decided by which entity type you register your business under. One entity type might sound ideal before you start, only to become a hindrance to your business in practice. There are numerous choices for business entities.
- C Corporation: The entity type used by most companies in the US. It allows unlimited growth in stocks and has no shareholder limit. It’s also heavily regulated and expensive to launch.
- S Corporation: Similar to a C Corp, but smaller and even more regulated. Shareholders must be US citizens and are limited to 100 at any given time. S Corp status can be forfeited if specific tax qualifications are not met.
- Limited Liability Company (LLC): The simplest of the business structures. LLCs don’t require a business tax return, as earnings are reported in personal returns. This type limits personal liability for debts and obligations. However, stock sharing is prohibited.
- General Partnership: You and your partners are jointly responsible for the business. This type faces no double taxation, but all partners are equally responsible for any debts and obligations.
- Sole Proprietorship: You are the business. Formation of this type is simple and requires no state filing. As you are recognized as the business, you become wholly responsible for any debts and obligations.
We can also help with…
Companies can face complexities in executing termination plans as they navigate legal and regulatory requirements.
The Burkhalter Group helps keep your company in compliance by staying on top of the requirements for your business.
Moving / Expanding
Whether you’re relocating or expanding – or both – we can help guide you with our accounting and legal expertise.