The start up period of your business is a critical period.
Dr. Friday Tax and Financial Firm, Inc, will assist owners with a host of decisions, which have lasting tax consequences. Choosing the legal form in which to operate the business dramatically impacts after tax cash flow available to owners and affects areas from personal liability to the deductibility of employer fringe benefits. Other crucial considerations may include the company’s overall method of accounting, its tax year-end, inventory valuation method, debt versus equity capitalization and potential S-corporation election. If you start out on the right foot, it is amazing the amount of time and money you can save over the lifetime of your business.