STARTING A NEW BUSINESS
SOME CONSIDERATIONS
Decide on type of business entity: Proprietorship, c corporation, s corporation, LLC, partnership, etc.
Tax considerations: Income, self-employment, employment tax, excise tax, preparation for filing.
Employer identification #'s: Federal, state withholding, state unemployment, excise tax, local tax.
Accounting system: Consistent method, cash or accural, yearly or fiscal, compliant with tax law, accurately represents your business financial condition, software considerations, etc.
Agreements: Partner agreements, buy/sell, business termination, profit sharing, etc.
American Business Support, Inc. can help you with the above. Call 507 288-2506 or email ambussup@aol.com.
