Business Tax Services

New Business Start Up Advice:

Many new business owners invest huge sums of money from personal savings, by invading their Retirement Plans(401k, etc) without properly planning for their new venture. There are certain Tax Elections that are typically missed at this point in the life of a new business, which will come back to haunt you years from now.

It has been proven that perhaps 80% of all new businesses will fail within the first year of operations. This is usually due to Poor Management, Lack of Working Capital and falling behind in business and payroll related taxes.

Accounting & Tax Services:

The Firm of Eric J. Engelhardt, CPA, CFP® has been providing accounting, tax and business services since 1978....for over 30 years of client advisory expertise.

The key to new and existing business growth is a dedicated and seasoned business oriented CPA to watch over your business. Monthly and /or quarterly services are available.

Business Incorporation:

While forming a corporation is not a perfect Asset Protection strategy, it is one of the best techniques around to minimize liability. For example, one cannot hide behind the corporate veil to avoid paying payroll and sales taxes. These are viewed as “public trust funds” and the offices/owner of the corporation will ultimately remain liable for these taxes. However, there is added protection within one’s corporation when it comes to other issues and liability( discuss with your attorney for further details).

Forming a corporation can be a confusing task since there are many different types of corporate entities to choose from© Corp, S Corp, LLC, etc). While one may form a corporation by calling one of those toll free numbers, I suggest that if you are serious, its much better to pay a bit more and pick up the tax advice that should go hand in hand when forming your Corporation.

A Tax oriented CPA may form your corporation and most probably for less fees than a typical law firm would charge. However, it’s the various Tax Elections that are most valuable which the CPA - Business Advisor can comment on prior to forming the Corporation.

Quick Books Set Up:

One key element for business success is to have a reliable accounting and bookkeeping system in place from the start. This will enable you to track your business cash flow and to spot problems in time to act and not to react when its too late.

Quick books or the software program of your choice is most important to set up with a chart of accounts which is most reflective of your business, professional- medical practice.

After more than 30 years of advising business clients from all over the US.... my office would be be the right choice for your accounting and systems set up.