Whether you are thinking of opening a business, been successfully running a business for a number of years, or considering retiring and selling your business, there are times when you could use some good advice. Quast, Janke & Co. has just the consultants you need.
Entity set up
There’s considerable paperwork to be done before you can open the doors of a new business. Our staff can assist you with filing the necessary forms with the appropriate state agency. Every new business also needs a federal Employer Identification Number (EIN) for filing taxes, both federal and state. We can assist you with obtaining licensing if your business requires it.
If you need financing for a new venture, you’ll likely need a sound business plan to qualify. We can help you put together projections for revenue and expenditures. Along with or as part of your business plan, you should consider the rights and responsibilities of the owners, especially if you have partners, as well as your future employees.
An essential part of any business set up is selecting the best form it should take. The most common forms to choose from include:
- Sole Proprietorship
- C Corporation
- Limited Liability Company (LLC)
Each entity has its own set of advantages and limitations. Each entity has different legal and tax consequences. At Quast,Janke& Co. we can help you sort through the options to find the most beneficial entity for your business.
Budgets & forecasts
Budgets and forecasts go together like bread and butter. They aren’t the same, but they usually come as a package.
You can’t manage a business successfully without a budget. You need to know what your business goal is and how you expect to get there. An unrealistic budget is not much more helpful than no budget at all. Your budget for the upcoming fiscal year should cover:
- Estimates of revenues and expenses
- Expected cash flows
- Expected debt reduction
- You are then in a position to compare your actual results against your estimates and calculate the variance.