Many prospective entrepreneurs dream of owning and operating their own business, but the realities of running a business can rapidly dampen the initial excitement. Making sure you are well-equipped to manage all areas of running a business is critical to success, and failing to do so is a prescription for disaster. Our new business formation services will provide you with a strategy that lays out a long-term plan, delivering a logical approach that safeguards your dream and avoids the pitfalls that many people make.

Faith Tax Services will prepare an initial business plan for you, outlining your marketing, financial planning, and management strategies. We will assist you in determining your initial financing requirements and the sources from which to obtain them. We'll also assist you figure out how much you'll be able to borrow for your business. We'll look at the many types of business structures and evaluate them in terms of legal exposure, tax benefits, and ease of operation to determine which one is best for you. We will also assist you in planning for relocation if necessary.

From the standpoint of business services, we will assist you in selecting an accounting software program that suits your requirements, taking into consideration your hardware and budget, and we will develop a cash flow budget to help you foresee your requirements throughout the initial years of your company's expansion. We'll assist you in developing a budget and the processes necessary to adhere to it, as well as founding a billing system, collection policies, and procedures that will improve cash flow. If you intend to work from home, we can show you how to set up your workplace to maximize your tax benefit.

Just remember establishing a new business requires a plethora of paperwork and applications, all of which we will assist you with. In addition to your Federal Employer Identification Number, we will assist you in obtaining the necessary state and municipal licenses and permissions. We will also help you file for you LLC. Once you got the correct paperwork, we will show you how to open a Business Banking Account Online and business cards. After you recruit your first employee, we will handle you how to setup payroll and payroll tax filing, ensuring that you adhere to all employment rules. We will also evaluate your company's insurance needs. If your company is a partnership, we can assist you in drafting a partnership agreement that gives everyone the protections they need and foresees and prevents future issues.

Us here at Faith Tax Services are aware that people are struggling financially and that not everyone has the capital to launch a business. Starting at $600, you may select from a variety of payment options to launch your business.