Do You Need a CPA to Start a Business? 

To ensure that your business is properly set up with the Internal Revenue Service (IRS) and in your state, it is best to hire a Certified Public Accountant. Our CPAs can provide you with advice on the tax implications of each business entity type, and help you decide the best way to establish your business. 

As a part of our services, we will file the correct forms with the IRS and state on your behalf. We can answer any questions you may have about establishing, starting, and running your new business to provide you with a solid plan from the beginning. 

How Can a CPA Help My Business? 

Understanding the tax implications of how you set up your business entity is highly important. We want to make sure that all our clients are compliant with the IRS and that all requirements are met. Once your business entity type is established with the IRS, it can be difficult and costly to change. Our CPAs can provide extensive guidance for you and your business from the start and ensure you are taking advantage of future tax saving opportunities. Not only can we help set up your business entity, but we can become a true partner to you as you continue to build and run your business. From accounting services to tax preparation services, and everything in between, we can make sure your business is on the right track. 

Can a CPA Help You Start a Business?

Setting up a business can be overwhelming and confusing. Alleviate this stress by hiring a CPA to help. Our CPAs can easily guide our clients through many of the questions and concerns that arise when looking to start a new business. We will inform you of all tax responsibilities and provide advice on next steps, including preparing for growth by establishing systems to record your transactions, as well as tracking your income and expenses. 


What to Ask a CPA When Starting a Business:

You are welcome to ask our CPAs any questions regarding your business that might cross your mind, but some common questions include:

What type of business entity should your business be? A corporation, partnership, or sole proprietorship?

This is key when starting your business, setting up your business entity incorrectly can cause issues in the future. How you set up your business structure can affect operating efficiency, transferability, the way you report income, and the tax you will pay.

Which expenses are tax deductible?

It is important to know what expenses to track for tax liability purposes. Deductions can vary by industry and the type of business activity.

Should you set up a business bank account?

Many business owners like to keep their personal and business expenses and accounts separate so things are easier to track. We can help you determine when it is best to do this, and how.

What is the best way to track your income and expenses?

We always recommend using some type of accounting software when you begin to easily track and categorize your transactions.

How do you build your business credit?

Building your business credit can be crucial if capital is ever needed in the future, just like with a personal credit score.

These are all questions that our CPAs can help you think thorough and answer. Asking these questions from the start will help you build a strong business plan and save valuable time down the road.

How Much Does a CPA Charge to Do Business Taxes? 

The pricing to complete your business taxes varies depending on how your business entity is set up. If your business is reported as a Schedule C on your personal tax return, the price is included in the completion of your personal taxes. If your business is set up as a 1065 partnership, the minimum price is $1,950. As a 1120 or 1120-S corporation, the minimum price is $1,850. 

We can aways provide you with an exact estimate based off our discussions, business origination documents, and review of financial statements.

How Much Does a CPA Cost for a Small Business?

To start a business, we charge a base price of $750, which includes fees associated with filing the appropriate paperwork with the IRS and state. This also includes meeting with a CPA to review the tax implications of different entities, provide advice, and answer your questions accordingly. There may be an additional charge of $275 if it is determined that setting up an S-Corp is the best way to proceed.

To start your business, we will need basic information from you, including your prior year personal return, and business name options. We will walk you through the entire process step by step to get started.

Once your business is started, pricing for other services will vary, our base price for accounting services is $495/month. Our base price for annual business tax returns starts at $1,850. We are always happy to provide you with exact quotes based on your business documentation. 

Get Started with a CPA That Can Help Your Business Thrive! 

After reading the above, if you are interested in having us assist you with your new business, please call us at: (704) 332-7800, or fill out our contact form.

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