New Business Formation
It's an exciting and rewarding experience to start a business, but one that requires a lot of work. The process can quickly become maddeningly complex without the right know-how and experience.
The formation of a new company involves a lot of governing, including tax codes and local, state, and federal laws that may or may not oversee how you do business. Unfortunately, for the average person, these can often be unclear and confusing.
Morales Burke is here to help you get your dream off the ground and make it a tangible reality all while helping you grow and find success. Our team has the experience and expertise to guide you through the formation process, help you pick the right structure, set up effective systems, and establish efficient operational processes.
Selecting the Right Entity
As a striving entrepreneur, one of the most important decisions you will have to make is what type of entity you are going to file as for the financial future of your business. This affects how your business is taxed and what kind of protections are granted to you.
Morales Burke takes the time to get to know you and your business, as well as your goals and expectations to help you pick the ideal business structure.
Sole Proprietorships are ventures owned and operated by one individual. This person pays all the taxes of the business on their personal return and is offered no protection of liability as the business is not considered to be a separate entity.
Partnerships are similar to sole proprietorships but have two or more owners/operators who are taxed based on their share of income.
LLCs and S-corporations though the business is considered a separate entity, the owner is taxed through their personal tax returns, allowing the owners a certain level of liability protection.
Corporations are recognized as separate taxable entities from owners. Owners are taxed from the company on their profits while the company itself is taxed on its own income, accounting for deductions and credits.
Setting Up Your Accounting System
Detailed, precise accounting is the backbone of the financial health of your venture. Morales Burke assists you in setting up the correct accounting system for your unique needs. We can get you up and running with your best foot forward from QuickBooks setup and training, to operational processes.
Getting Your Dream off The Ground
When you start your business, start right. Morales Burke provides expert accounting services to aspiring business owners in St. Petersburg and the surrounding areas. Call our firm today to schedule your comprehensive consultation.