Formation & Dissolution
Services
Formation & Dissolution
Our business formation and dissolution services are based on years of dedicated experience and commitment to business owners throughout New Jersey. When it comes to the financial, tax, and legal requirements of forming or dissolving a business, it’s important to work with a professional who knows the applicable laws and tax codes backwards and forwards.
The last thing you need is a business that was not formed properly — or one that was not dissolved in the correct or most advantageous way.
Business formation
All of the best businesses in the world began with this step and if you’re new to the market of business owning – this is the biggest step you’ll likely take. It’s often the case that years of thinking and planning have gone into your business and you’ve finally come to the conclusion that it’s time to make it official and form your own business. Remember, even Google, Apple and Facebook had a start date!
You might not be planning to become a multi-billion dollar corporation, but we know that your dream is important to you. We also know that tax and accounting advice is an indispensable part of making this dream a reality. One of the first things we’ll help you to consider is the right business foundation for you.
There are four major types of Businesses:
Corporation
Which is the most complex business system and generally includes shareholders, with any profits or losses operating through the corporation itself, rather than through the individuals.
Sole Proprietorship
Which has you as the owner – you can either use your own name, or choose a business name to work under. In this case, if there are ever any financial or legal issues attached with the business, the sole trader (and their personal assets) is fully responsible.
Partnership
Involves 2 or more owners and is still registered as a business, rather than a company; with any profits, losses and legal information shared between all the partners.
The registration of these varies in cost and when you’re planning on setting yourself up, you want to ensure you have the right advice so you can start your business on the right foot. You also want to give yourself the best future opportunities for expansion as your dreams grow and we can help you do that.
Businesses can be formed in a way that takes full advantage of applicable tax codes, and sets the business owner up for success. Whatever the size or nature of your new business, we’ll be vigilant in making sure your business formation occurs in the most efficient, effective and advantageous way.
The business itself may be relatively simple, or it may be more complex. There may be shareholder and partnership agreements, company bylaws, and other factors that need to be taken into account. As the owner of a new business, your “to do” list is long and if you’re trying to do it all yourself, it’s easy to let an important detail fall through the cracks. This is only going to cause problems down the line.
Our goal is to remove the pressure from this very important formation process. We’ll guide you through the financial and accounting side of things, and we’ll be a reliable partner throughout the process. We want your business to start the right way so that it keeps the door open for things to get better as time progresses. That means getting things absolutely right when it comes to the formation of your new enterprise.
Business dissolution
The tax and financial services we provide to businesses are always geared toward greater financial stability and long-term success. However, businesses must sometimes be dissolved. This can happen for a number of reasons, including mismanagement, partner disagreements, cash flow problems and bankruptcy. A business can also be dissolved involuntarily due to noncompliance or liability for defective products or services.
Before a business can be dissolved, however, there are a number of steps that must be accounted for. These include knowledge and acceptance by all owners and shareholders that the business must be dissolved; a Certificate of Dissolution needs to be filed within the state of practice; tax forms need to be filed with Federal, state and local governments; and all creditors need to be notified and/or paid in full. From there, any assets that belong to the company must be reported to the IRS.
Sound complicated? That’s why we’re here to help!
Whatever the particulars behind the dissolution of your business, our CPA team is reliable and deeply experienced and we know that you’re already going through a tough time, so we want to make the transition as easy as possible on you.
Together, we’ll work to understand the exact nature of the situation and all the possible implications in terms of tax and financial management. Then we’ll work to bring the dissolution of your business to completion in a way that is clear and efficient, while maximizing your financial interests and preparing you for the next chapter.
Advice you can Trust
Solid financial advice is a must for any business today, whether you’re at the beginning or the end of your journey. Our commitment is to deliver the very best financial and tax solutions for each particular business we serve.
Unlike some tax and financial advisors, we take a close interest in the success of our clients and strive to understand their goals and plans. Turn to our experts for highly- rated and professional solutions that put your business in the best possible position, whether you’re ready to form a new business or dissolve an old one and start something new.