New Business Startup Services in Queensbury
There's a lot of work involved in forming a new venture, but don't let the miles of red tape and mountains of responsibilities intimidate you. Whittemore, Dowen & Ricciardelli, LLP can help you navigate these obstacles and make the decisions that give your business the edge it needs to succeed. From the day you open your doors to planning your retirement, we'll be with you every step of the way. Call our Queensbury or Saratoga location today for your consultation! Call Us: (518) 792-0918 Book a Consultation Draft a Plan for Your Startup
Whittemore, Dowen & Ricciardelli, LLP helps you put together the necessary information, such as branding, product, profit & loss projections, and overhead costs. We compile them all into a single document that contains all the data you'll need for reference. Establish a Business Structure
Our team can help you select a business structure that best fits your needs by evaluating tax advantages, legal exposure, ease of operation, and portability should you need to relocate. Some of your entity options include: Sole Proprietors and Partnerships: These businesses usually have one or two owners and are unincorporated. Consultants and freelancers are sole proprietors and file one tax return instead of separate business and personal returns. Partnerships must file returns and report gains and losses, but the income tax paid by the partners individually. Both of these entities can leave your personal assets at risk if there is a lawsuit. Limited Liability Companies (LLCs): As pass-through entities, limited liability companies can pay taxes through the owner's return and avoid corporate tax. However, unlike sole proprietors and partnerships, these structures benefit from liability safeguards that keep partners separated from any liabilities accrued by the business. Corporations: These are the favored structure for bigger businesses and are deemed a separate legal entity from the owners. This status provides liability safeguards of your assets, but profits can be taxed twice, first when revenue comes in and again when dividends are paid. The company is taxed based on income and profits, while distributions and revenue are taxed again on the stock and shareholders individuals' returns. However, this will allow public trading of the company and open new possibilities for revenue sources. Choosing the best entity type and keeping your accounts in order is essential for keeping your business profitable and thriving. Maybe you have a small business that would benefit more as an LLC than a sole proprietorship. On the other hand, you could have a larger company ready to step into a C corporation. Regardless of your current entity structure, Whittemore, Dowen & Ricciardelli, LLP can analyze your business and finances and help you determine if a change is needed. Accounting Services for Your Startup
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Start Right with Our Queensbury Business Startup ServicesWhittemore, Dowen & Ricciardelli, LLP strives to provide the most effective services for you and your startup business. Our experience and expertise give us the skills needed to guide you through every step as you embark on your entrepreneurship journey. Contact our Queensbury firm today to schedule a consultation and start on the path to your goals! |