You Have Plans To Start a New Business? We Can Help.
Entity Selection
Choosing the right business entity can be confusing if you’re not familiar with the options available. It’s an important decision that must be made before applying for your Federal Employer Identification Number (FEIN) and registering your business with your state’s Secretary of State. We will help guide you through this process to ensure you choose the best structure for your business.
Accounting
Accounting reveals the financial health of your business. Accurate profit & loss statements and balance sheets show your net profit, business value, and creditworthiness with lenders.
BSS has extensive experience with QuickBooks, both Desktop and Online, as well as other accounting systems. Setting up your accounting, especially the chart of accounts, is essential for generating accurate reports and understanding your company’s true financial position.
QuickBooks Online is the most widely used accounting software for small businesses and accountants, but it’s not always the easiest to navigate. We’ll discuss the best options for your business during your free consultation.
Payroll
If you plan to hire employees, using a professional payroll service is one of the smartest moves you can make. Many businesses run into serious financial trouble because federal payroll taxes (Forms 941 & 940) and state withholdings are filed incorrectly and/or paid late.
Payroll services—whether through your accountant, accounting software, or an online provider handle the process for you. You simply provide or plug in employee hours, salaries, or commissions, and they take care of the rest, including issuing paychecks or direct deposits, filing quarterly reports, and submitting all required tax payments. The payroll amount, including taxes, are automatically withdrawn from your bank account in one transaction. Many payroll platforms also provide employee onboarding and workers’ comp insurance as an added service, a good feature.
1099 Payroll – Independent Contractors
This is an area where business owners often face IRS issues. Some small businesses misclassify workers as independent contractors to avoid paying the employer’s share of payroll taxes, such as Social Security, Medicare, and Federal and State Unemployment.
If you control when and where someone works, require them to work certain hours, or pay them by the hour, the IRS and state agencies consider that person an employee, not a contractor. Misclassification can lead to severe penalties and back taxes if discovered during an audit. If you have not finished setting up your payroll processing when you open your business, you can pay employees a draw up to 75% of their gross wages, then deduct the draw or draws from their 1st paycheck once payroll processing is established. Be sure you clearly understand the rules and risks before deciding to 1099 your workers.
Pricing
Our Service Fees
| Initial Introduction and Consultation, up to 2 Hours | Free |
|---|---|
| Set-up Federal & State Entities | $250.00 |
| Set-up Initial Accounting Software including Chart of Accounts. | $300.00 |
| Set-up Product and Service Codes and Reporting Classes | $35/Hour |
| Ongoing Accounting & Business Consulting | $35/Hour, 1 Hour Minimum |
Owner
Business Startup Services was founded and operated by Jeff Hoffman, a semi-retired, 35-year resident of Cartersville, Georgia. He is an entrepreneur, small business owner, and corporate professional with 55 years of experience, including 25 years of customer-facing sales and service and 30 years in senior management.
Expertise in:
- Launching and managing successful businesses
- Overseeing all operational, financial, and HR functions
- Skilled in accounting, POS system development, payroll administration, inventory control, and insurance procurement
- Experienced in building high-performing teams and optimizing operations for profitability
We look forward to helping you successfully launch your new business. Give me a call at (770) 769-5145 or drop an email and we’ll set up an appointment for your free consultation.