Starting a Business
a business can be difficult and confusing - luckily, My Accounting Center is here
to help. Our Glendale, CA-based financial services company has been providing assistance
to startup businesses of all types across the country for years, and we look forward
to working with you. Read on to learn more about the services we provide. Call
1-877-622-4621 for more information on starting a new business.
My Accounting Center doesn't just offer accounting for starting a business - we'll
provide start-to-finish assistance throughout the process. A member of our team
will meet with you and help you draw up a comprehensive business plan which will
take your objectives, strategies and market into account, determine your company's
starting capital, identify all potential investors, determine and file local and
state paperwork/licenses, set up a payroll account, assist with understanding and
complying with employment laws and a host of other pre-formation and post-formation
Do you need a corporation or LLC? Online ordering takes less than 5 minutes to complete
and is available in all 50 states.
Forming a new business takes a lot of hard work, determination and productivity.
Like many, you may be confused about how and where to start. At My Accounting Center
Inc., we can assist you with all your new business formation questions and concerns.
Because there are many tasks that come along with forming a new business, we are
here to provide a number of services that may assist you. Some of our services include:
- Drafting a business plan, which will describe your business objectives, strategies,
and market and financial forecasts;
- Determining your starting capital;
- Identifying your potential capital investors;
- Filing for all your required local and state permits and licenses;
- Setting up a payroll account for your employees;
- Helping you understand local and state employment laws;
- Creating a Partnership Agreement if more than one party is involved.
The pre-formation process we employ through our Small Business Reorganization Planning
Model is designed to assist the client in meeting all of the requirements imposed
by the code, and to guide the business owner through the process of forming the
entity as a first step.
- Client meeting and evaluation of need
- Initial consultation
- Review & analyze (3) prior year tax returns
- Tax Savings Analysis
- Complete Intake Formation Package
- Copy will be attached with the minutes
- Conduct First Organizational Meeting
- Have client complete financial needs-analysis
- Have client sign fee agreement and make payment
- Submit formation package
- Begin payroll determination
- Reasonable person standard
- Independent investor standard
The above cited steps are the formal processes one must be guided by in order to
properly begin the pre-formation process with the client, while ensuring that each
issue is addressed in terms of meeting the requirements of the tax laws.
The formation process is the next step in creating the corporation. The client submits
a Client Formation Package with all the forms properly completed, and the Entity
Services Department begins working with staff to create the various documents, resolutions
and minutes and files the Articles of Incorporation with an approved state agent.
The corporation book is ordered and when delivered is assembled, along with obtaining
all tax ID numbers, S-Elections and various other required documents that must be
- Name Reservation is filed with State;
- Articles of Incorporation are created and filed with State;
- All State filing fees are paid;
- First Minutes are prepared;
- Checklists for client are prepared;
- Corporate book is ordered;
- By-Laws are created;
- Tax Forms are completed for signature and filing;
- Materials are inserted into corporate book with seal.
The post-formation process is really where our professional staff works directly
with the client in guiding them through the steps necessary to ensure they execute
all forms and tax documents and that the client completes the next important steps
in setting up payroll services, salary and compensation amounts, accountable reimbursement
plans and begins enjoying the benefits of operation in a corporate structure.
- Delivery and presentation to client of corporate books;
- Review of each section of corporate book;
- Execute and sign all tabbed documents and return for filing with State;
- Execute and sign all tabbed Election and return for filing with IRS;
- Establish initial salary compensation;
- Establish bank account;
- Transfer money to bank account;
- Sign corporate minutes and resolutions;
- Schedule follow up meeting for 30-days.
If any step in this process is missed or done incorrectly, the client may
not have a valid corporation, and it could be disregarded for tax purposes. Through
our Small Business Reorganization Planning Model, we make sure that the corporation
formation process is done correctly and the corporation is recognized as a valid