Kevin McCoy, CPA

The NY Times recently ran this column by Thomas Friedman who suggested that President Obama recapture the excitement of his Presidential campaign by fostering innovation and entrepreneurship.  I think most people agree small business is the key to America’s success economically – both here and globally.

How can a CPA help you launch your business? We are uniquely positioned to see a variety of industries and what works well, and sometimes not so well in each. Here are a few services we can provide so entrepreneurs can focus on the important tasks like growing revenue and pleasing customers.

Pre-formation

1. Name selection – is the name you want available, how do you register it?
2. Entity selection – Would a corporate structure be best, what about an “S” Corp or LLC?
3. Information system – how will you set up your files – paper or paperless?  What about an accounting software package?
4. Funding – will you self-fund the venture, seek a bank loan or need investors?
5. Write a business plan

Ongoing support

1. Tax planning, consulting and compliance – tax time should not be the only time you see a CPA, it should be an ongoing conversation
2. Financial support – from budgeting to financial statement preparation
3. Asset protection
4. Fringe benefit planning

The above is a chip off the block of what a CPA can do to streamline business operations.  If you are interested in talking more about these items or have a question, please contact me at kmccoy (at) cdnscpa (dot) com or leave a comment. Thanks for reading.