Business Incorporation & Compliance
Your business form must fit your business needs and as your business grows or personal situation changes, so will your needs. Keep in mind that your decision on business structure will have an impact on the amount of tax you and your company will pay.
Starting a business requires you to complete a number of steps and make some key decisions. As part of your overall plan, you will need to select a location, obtain the necessary licenses, permits and most importantly, decide on a business structure. There are distinct advantages and disadvantages of each form of doing business. Which is right for you? That's a decision made between you and our team of tax advisers. However, do not hesitate to inquire if incorporating your business makes sense. Many times, not incorporating your business will cost you thousands of dollars in taxes!
Many tax professionals provide discounts to incorporate a business and subsequently charge an hourly fee to provide the necessary guidance needed to properly implement and manage your new corporation. At 1 TAX PRO, we believe in offering nothing less than the full service incorporation package which includes incorporating your business, monitoring your newly formed corporation and maintaining your corporation.
Our clients typically save money each year by using this four-step strategy:
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Choosing the right type of structure (S corporation,
C-corporation, partnership or LLC) for your business. |
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Review the appropriateness of the shareholders compensation and update all accountable reimbursement plans. |
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Implementing our ongoing quarterly tax planning services to secure the best possible tax position for the available benefits. |
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Maintaining the corporation structure and compliance requirements. |
Many existing business owners throughout Southern California come to us with a previously formed corporations or Limited Liability Companies (LLC), but we found that many are not taking advantage of the "built in" tax benefits or are not effectively managing their newly formed corporation. Furthermore, 90% of the corporations we reviewed did not properly perform the required monthly, quarterly and annual minutes that allows the corporation to be in compliance. Effective tax planning and coordination, often puts money into your pocket and out of Uncle Sam’s and will avoid having IRS problems.
To simplify the business formation and incorporation process for new and developing businesses we provide a FREE consultation to select the right structure for your company. Significant tax savings can be achieved based on the nature of your business and the structure of your company. Our goal is to help you select the right structure and then realize the tax savings each year going forward. Also, we will help you maintain your corporation in compliance with all applicable requirements. 1 TAX PRO has the expertise to incorporate your business in all 50 states.
If it's been awhile since you last reviewed your business structure or corporate book, please contact us to discuss your alternatives. Contact our office for a free consultation.
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