Starting a Business

Know the Simple Steps for Starting Your Business Right.

Owning your own business is right up there with apple pie and baseball as an American pastime. In order to assure that your business succeeds beyond the initial desire and thrill of fulfilling a dream, you must take the time to develop a comprehensive plan and gain the advantage of having all pertinent information in place before you begin your venture.

We can help you avoid becoming another failed business statistic.

With our help, you will identify and avoid the common mistakes many new business owners make. We will help you build a business plan for success, as well as provide financial management services to meet your needs.

Steps to starting your business right…

9

Prepare a business plan and determine your initial capital needs.

9

Identify your current resources, as well as sources of start-up capital and your borrowing capacity.

9

Review potential business structures in terms of tax advantages and portability in case you need to relocate.

9

Plan for financial management of your business by selecting accounting software that fits your projected budget and gaining the hardware necessary to run it.

9

Understand the key components of a Cash Flow Projection and develop one to cover each month of your business for the first year, at least.

9

Learn about the best billing and collection procedures to maximize your cash flow.

9

Research and gain an understanding of employment laws so that you are prepared to comply from the start.

9

Consider a home office for maximizing tax deductions.

9

Prepare and file for all local and state licenses and permits.

9

Gain a Federal Employer Identification Number and set up payroll services and payroll tax filing systems with your first employee.

9

Identify any business insurance needs.

9

Develop a Partnership Agreement. By putting the terms of all business partnerships into writing, you will save a lot of future pain and headache, as well as the potential detriment of your business.

Don’t let this list overwhelm your desire to start a business. Our services were created with small business owners like you in mind.

    Call us today to start your business the right way!

    A Failed Business Strategy Tale for Northeast United States Owners

    We’re less than a month away from March Madness. The NCAA recently released the tournament schedule with locations, if you’re wanting to see your favorite team play in person. Or you just want to mark it on your home calendar so your family knows you’ll be...
    Read More

    Northeast United States Business Owners, A Big Gmail Update Is on the Way

    For a long time, the NFL was hands-off when it came to Las Vegas. They were unwilling to get anywhere close because of the long-time commissioner’s caution about the connections some big NFL names had with well-known mob connections. Commissioner Pete...
    Read More

    Money Management Tips You Don’t Usually Hear

    The most common money management tips that experts give to people in Essex County with tax or financial difficulties involve saving, budgeting, and planning.But there’s another money habit that never makes those lists of money management tips, and it’s worth sharing,...
    Read More

    d.f. o’brien & co.’s Guide to 2024 New Small Business Trends & Regulations

    This weekend we got a chance to see what’s trending in the world of music via the 66th Annual Grammy Awards. But something that wasn’t talked about on stage was the struggles of the music industry right now. A lot of artists are facing difficulties with promoting...
    Read More

    What IRS Auditors Can & Can’t Do to Northeast United States Taxpayers

    The IRS is delivering on their December promises to ramp up compliance and collection efforts with big hitters on the tax side of things (high-income individuals, complex partnerships, and large corporations). This comes as the result of unbelievably high...
    Read More

    IRS Business Accounts & Your Northeast United States Business

    The crescendo of the entire football season is coming up in two weeks, aka the Super Bowl (Sunday, February 11). It’s probably one of the most watched events in America. This year will be no exception… and not just because Taylor Swift will be there cheering on...
    Read More

    All About BOI Reporting for Northeast United States Business Owners

    It seems business leaders aren’t worried about recession anymore. At least that’s what the annual World Economic Forum decided last week.  Economic experts and business leaders are saying that we're not likely to see a U.S. recession in 2024. The Federal Reserve might...
    Read More

    5 Customer Loyalty Strategies for Northeast United States Small Businesses

    “Save more” is a new year goal a lot of people put on their list, but it’s proven to be a difficult one to reach the last few years. In your Northeast United States business, it’s likely some of your employees fall in this category — especially for those in lower...
    Read More

    Email Inbox Management for Northeast United States Business Owners

    Now that we’re a week into the new year, all of last year’s broken things in your Northeast United States biz have likely smacked you in the face a few times. Sadly, they didn’t magically get fixed while you were cleaning up wrapping paper and sneaking another sugar...
    Read More

    How Northeast United States Businesses Can Avoid IRS Trouble in 2024

    “The difference between tax avoidance and tax evasion is the thickness of a prison wall." — Denis HealeyI bring this quote up today to say, the IRS isn’t messing around lately. They're cracking down on businesses playing fast and loose with their tax obligations.Now,...
    Read More

    Ready to come in for an appointment?

    Click here to schedule a time to meet with us. We will NOT make dealing with a tax professional as painful as it’s been in the past!

    Contact Us