If you are considering starting a new business it is very important that you understand the financial implications of running a business. It is important that you make the right choice for a business entity. Wolf Business Associates, a bookkeeping and tax service can help you from the beginning to go in the right direction.
New business owners need to chose a business entity and register their business and each state has its own registration requirements. Tax and liability issues, director and ownership concerns, as well as state and federal obligations pertaining to the type of entity should be considered when making your determination.
The major business entities to choose from are:
- Sole Proprietorship
- Limited Liability Company
- Limited Partnership
- Limited Liability Partnership
Wolf Business Associates can advise you on these critical issues so that you are able to make an informed decision.
In selecting accounting software, most small businesses use QuickBooks today. It is easy to install and learn and quite flexible in the types of companies it accommodates. As a Certified QuickBooks ProAdvisor we are in an excellent position to recommend which version of QuickBooks should be used and assist in the installation of conversion from other accounting software.