Business Solutions

Company Setup

Payroll

Business Accounting

Company Setup
Thinking of owning your own business?
Opening your own business is exciting and thrilling. It's everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not. It's up to you to maintain and stretch out the "thrill and excitement" period forever.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.
We help you...
1. Prepare an initial business plan to clarify your marketing, management, and financial plans.
2. Determine your start-up capital needs.
3. Identify sources of start-up capital and backup sources if needed.
4. Evaluate and quantify your borrowing power so you know how much money you can get your hands on if needed.
5. 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.
6. Process all Federal & State required documentation such as Articles of Organization, FEIN Applications, State ID Applications, and Corporate Docs required by law.
7. Select the right accounting software by evaluating your budget, needs and hardware.
8. Prepare a Cash Flow Budget so you know exactly how much money you need to keep the business alive each month for the first few years. Unplanned cash requirements are always emotionally painful.
9. Establish billing and collection procedures to maximize your cash flow.
10. Establish procedures to monitor and control costs.
11. Setup a home office so you can maximize your tax deductions.
12. Prepare and file all required state and local licenses and permits.
13. Prepare and file your application for your Federal Employer Identification Number.
14. Provide payroll and payroll tax filing when you bring on your first employee.
15. Comply with employment laws so you don't get hit with fines and unhappy employees.
16. Identify your business insurance needs.
17. Develop a solid Partnership Agreement. This is an extremely important document for all new partnerships and will help prevent a tremendous amount of financial and emotional problems down the road.
18. C Corp, S Corp, Partnership, LLC, LLP, Sole Proprietorship.
Let us help you succeed by getting your new business off to a good strong start

Dissolution:
Whatever the reason — some companies must "close the door" and stop doing business. Without the formal termination of a corporation or LLC, owners could still be charged fees associated with the business.
A Corporation or LLC must file Articles of Dissolution (sometimes referred to as Certificate of Dissolution or Certificate of Cancellation) when it needs to terminate its existence.
Whenever a Corporation or LLC is an active entity at the Secretary of State, it is in existence and has specific obligations to that state (such as filing Annual Reports, paying state fees, and paying taxes). Even if the company is not actually doing any business at all, as long as the company is filed with the state, it is considered to be in existence.
For this reason, it is important to officially and formally dissolve your entity with the Secretary of State in order to avoid any unnecessary fees. We'll prepare your Articles of Dissolution for review and submission to the appropriate state agency in any of the 50 states.

Q: I filed as a Corporation/LLC but have never conducted business or am no longer doing business — Why do I need to dissolve or cancel my Corporation/LLC?
A: Whenever a corporation or LLC is on file with, and is an active entity at the Secretary of State, it is in existence and has specific statutory obligations to that state — even if it conducts absolutely no business whatsoever. A company that is considered to be in existence must file informational reports (such as Annual Reports or Statements of Information) and pay annual state fees and, often, minimum annual franchise taxes. (For example, California limited liability companies must pay an annual $800.00 minimum franchise tax even if they conduct NO business.) For this reason, it is important to officially and formally dissolve your entity with the Secretary of State in order to avoid any obligations your company incurs simply by virtue of its existence, regardless of actual business activity.
Q: How do I officially dissolve, cancel, or terminate my Corporation/LLC?
A: To end the existence of a corporation or LLC, an entity must file Articles of Dissolution or other form of dissolution or cancellation documents with the Secretary of State. Requirements vary by jurisdiction. In some states, a simple certificate must be filed; in others, tax clearances and other preliminary procedures must be carried out.
Q: What if I have stopped doing business—is that sufficient to terminate my corporation's existence?
A: The fact that a corporation has wound up its affairs and has ceased conducting business does not end its legal existence. The corporation may maintain its legal existence and remain active (and potentially liable for annual registration fees and responsible for filing annual reports) until formal dissolution/cancellation documents have been recorded with the Secretary of State.
Q: What happens if my corporation is not formally dissolved (i.e., officially dissolved with the Secretary of State) in a timely fashion?
A: If you are a shareholder in a corporation (or a member in an LLC) that will no longer continue operations in the upcoming business year, it may be wise to complete the process of dissolving your business. Failure to dissolve a corporation or LLC could result in the following:
Tax Filings. The company may be required to prepare and submit tax returns to the IRS, the state, and other municipal taxing authorities.
Personal Liability. Individual shareholders or members may be PERSONALLY liable for the entity's debts and tax liability.
Annual Reports. The entity may be required to prepare an annual report for the current year—even if NOT conducting business—along with tax payments and penalties.
No Distribution of Assets. Corporate/LLC assets may NOT be distributed to shareholders/members until the entity is properly dissolved.
Future Product Liability. An entity that is not properly dissolved may carry potential future liability from the products and services sold by the entity while it was operating. Q: Do I need a corporate resolution to dissolve my corporation?
A: The Board of Directors of the corporation must first propose a corporate dissolution. Corporate minutes must be recorded and maintained in the corporate book by the corporation's secretary. If shares have been issued, then once the board proposal has been recorded, a majority of shareholders must approve the dissolution action as proposed by the Board of Directors. Please note that some states require that at least two thirds of all voting shares must approve the proposed action for corporate dissolution.
If shares have not been issued, most states allow the Board of Directors to approve of dissolution.

Q: What types of filings must be made with the state when I dissolve my corporation?
A: Since laws regarding corporate dissolution vary by state, we strongly urge you to consult with an attorney regarding your state's particular requirements for your situation. Generally, however, most states require, at minimum, the filing of Articles of Dissolution or a similar document. In addition, some states require the filing of a Statement of Intent to Dissolve prior to or concurrent with the Articles of Dissolution. Also, many states require—prior to the filing of ANY formal dissolution documents — a tax clearance from that particular state's tax board. In addition to preparing your Articles of Dissolution, we will instruct you in regards to any state tax clearance requirements within your home jurisdiction.

Payroll:
When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner. Small business owners spend an average of eight hours a month performing payroll functions. That's 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers. We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company. Why Outsource Your Payroll...
It's Cost Effective
Use your staff more efficiently by letting us handle payroll and the associated legal details. Reduce overhead by removing the need to hire specialized employees.
It's a Time Saver
Our payroll service eliminates the burden of customizing, updating and maintaining your own payroll system--no more data entry, no more researching updates or new laws, no more worries.
Worry Free Payroll Tax Filing Eliminate the risks of calculating and filing your own payroll taxes by having professionals do it for you. Federal, state and local payroll tax laws are frequently changing and becoming more complex. How much time do you want to spend learning all the rules and keeping your information up to date?
Allows You To Focus On Core Competencies
Our professional staff allow you to focus on the core competencies of your business. We are accounting professionals--you get the experts working for you and with you.
Comprehensive Reports
You get a wide variety of user-friendly and accurate payroll reports. For a nominal fee, we will include union reports, certified payroll, workers' compensation reports and much more.
Get the Payroll Solution That Best Fits Your Needs.
We know that when it comes to payroll service - no one size fits all. That's why we offer the following 3 custom payroll processing options.
Comprehensive Payroll Services
Our Comprehensive Payroll Service takes care of all of the payroll processing for you, so that you won't have to. You get...

• Your payroll checks prepared and printed on-time, every-time.
• All of your payroll checks are laser printed on "blank" check stock to ensure maximum security and meet the micro encoding standards as set forth by the Federal Reserve System.
• Free Direct Deposits
• Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
• User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
• Detailed reports on your employee's vacation, sick days, and personal days accruals.
• Creation and filing of the required new hire reports
• Your payroll records maintained in tip top shape.

2. After-the-Fact-Payroll Services
We will take your manually-prepared payroll records and other payroll information and post this information to our data files, so you get...
Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee's vacation, sick days, and personal days accruals.
Creation and filing of the required new hire reports
Your payroll records maintained in tip top shape.

3. Online Payroll Processing
You can enter your employee's hours and earnings securely online and get...
The ability to instantly print payroll checks on your own printer.
Free Direct Deposits
Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee's vacation, sick days, and personal days accruals.
Creation and filing of the required new hire reports
Your payroll records maintained in tip top shape.

Custom Payroll Reports Service
There seems to be an endless amount of special reports Government agencies require. We can prepare the following reports for you.

• Worker's Compensation Audits
• Unemployment Claims
• Social Security Audits
• Child Support Audits
• W-2 and W-3 processing
• 1099 and 1096 processing
• Preparation/assistance with Federal and State registration forms

How much do we charge?
In order to give you an accurate price for our payroll services we need to know a little more about your business and what services you're interested in. Our prices are very affordable

Small Business Accounting
As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!
Each month or quarter we'll do the following things for you...

• Reconcile your bank account
• Generate an income statement
• Generate a balance sheet
• Clean up your general ledger
• Provide unlimited consultations

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Bank Reconciliation
Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you to...
Identify lost checks, lost deposits and unauthorized wire transactions.
Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
Detect and prevent embezzlement of funds from within your company.
Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Income Statement
An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.
An income statement allows you to...
Track revenues and expenses so that you can determine the operating performance of your business.
Determine what areas of your business are over-budget or under-budget.
Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
Determine your income tax liability.

Balance Sheet
A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.
A balance sheet helps you...
Quickly get a handle on the financial strength and capabilities of your business.
Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.

• Determine if your business is in a position to expand.
• Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
• Determine if you need to take immediate steps to bolster cash reserves?
• Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger
The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.
Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.