The idea of starting a new business is an exciting prospect but there are many obstacles to overcome. The financial decisions made early on often dictate whether a new business will succeed or fail. For example, securing the right business structure is an essential part of minimizing your tax burden and maximizing your profits. Don’t risk making a mistake, contact Chico, CA CPA Roster Carlsen Inc. for the practical advice you need to make the best decisions for your new business.
Roster Carlsen Inc., a Chico CPA, will work with new and developing businesses throughout the Chico area to help simplify business formation and incorporation procedures.
24 Hour Service
We can have your corporation or LLC formed within 24 hours so you can begin conducting business.
Free Guidance & Name Check
We provide free guidance on selecting the correct entity and then checking if its name is available
Corporation, LLC, or Partnership?
We have extensive experience to help you determine the best business structure for your specific circumstances whether it be a corporation, LLC, partnership or even branch operation.
Which State To Incorporate In
We can form your business in any of the 50 states. We will guide you in selecting the appropriate state based on your specific circumstances. Please note that Delaware and Nevada are popular, but often not the best choice.
Minimizing Taxes Using Your Company/LLC
It is one thing to form the correct company, it's entirely another to harness and manage the tax benefits to your advantage. Our ongoing services will assure that you accomplish this by having the lowest possible tax exposure while also guiding you on how to best take distributions from your company.
Opening Bank Accounts
Our relationships with multiple banking institutions affords our clients the ability to efficiently open bank accounts, even under strict banking guidelines.
Payroll / Health Insurance / Benefits
The rules for payroll and social security are daunting. We will guide you on how to properly set up payroll and meet all payroll related compliance matters for both IRS and State. In addition, we will guide you on your options surrounding health insurance, retirement and fringe benefits.
A Limited Liability Company or LLC is a legal entity that allows you to protect your personal assets from the company’s liabilities. If your business is structured this way the "members" or owners will have no personal responsibility for the financial obligations of the business. With an LLC the business itself does not report taxes on its profits but uses "pass-through" taxation where the income and deductions are reported on the personal income tax returns of the members.
There are benefits to structuring as a C Corporation but one drawback is that the business is taxed on profits at two different points (double taxation). First when the profits are earned and again when the money is distributed to shareholders as dividends. One positive feature is that the owners are not held personally liable for the financial obligations of the business.
S Corporations are similar to C Corporations in a number of significant ways except that they are only taxed on the profits once. The company itself does not pay taxes but the income from the company is passed through to shareholders and they are required to report any income from the business on their own personal tax returns.
We offer a consultation to Chico business owners. Call us at530-895-3163 and ask for Kort Carlsen.