Business Start-up Consulting
1. Select a Legal Structure
There are many choices. If you are unsure on which direction to move in, we are ready to help. There are unique benefits to each one depending on your business. Below are the most popular choices with a brief description.
2. Obtain your Federal Employer Identification Number (FEIN)
If you are setup as a Corporation, LLC or Partnership (or a sole proprietorship with employees), apply for a Federal employer Identification Number (FEIN) from the IRS. A FEIN will be necessary to open a bank account or process payroll.
If you choose Smart Choice Business Solutions to set up your Legal Structure, we can obtain this on your behalf. We can also file your Business Name with Sunbiz.
3. Hiring Employees (if applicable)
If you intend to hire yourself or others as a full or part-time employee of your company, then you may have to register with appropriate State Agencies or obtain Workers Compensation Insurance or Unemployment Insurance (or both).
*Note – See our “Payroll” section. Smart Choice Business Solutions can help with both Employee Time Management, Payroll Solutions, and Workers Compensation.
4. Set up an Accounting and Bookkeeping System
Smart Choice Business Solutions is here to help setup your Accounting and Bookkeeping system and help you learn about the Taxes your new company is responsible for paying.
Company documents generally are required to be kept for 3 years, including: a list of all owners and addresses, copies of all formation documents, financial statements, annual reports, amendments or changes to the company. All Tax and Corporate Filings should be kept for at least 3 years.