Professional Accounting Services...
 Tax planning will maximize tax benefits and minimize tax liabilities... |
Checks & Balances offers a full-range of business and personal accounting services. Checks & Balances offers "Tax Planning" not just Tax Preparation...
- General Accounting
- Payroll
- General Ledger
- Tax Planning & Preparation
- Getting Incorporated
- Income Statements
- Balance Sheets
- Print and Web Ad Development
Starting a Business...
This checklist is provided to help you start your business. Due to the various policy and legislative changes that occur frequently, some of these steps may not apply to your business. There may be other steps that are required by your business that are not covered here. Contact Checks and Balances to begin this process...
Starting a Business Checklist:
- Research your business idea.
- Write a business plan and a marketing strategy.
- Choose your business' name.
- See if your business' name is available for use as a Internet Domain Name.
- Register the Domain Name, even if you arent ready to use it yet.
- Check Local Zoning before choosing a location.
- File 'Partnership' 'Corporate' or 'Limited Liability' Company papers.
- Contact the IRS for a Federal Identification Number and Tax Schedule.
- Apply for a State Employee Identification if you will have employees.
- Find out about Worker's Compensation if you will have employees.
- Apply for Sales Tax Number if needed.
- File State Tax Forms.
- Check to get any required Business Licenses or Permits.
- Register Federal Trademarks.
- Register for Copyrights.
- Apply for a Patent if you will be marketing an invention.
- Order any Required Notices (advertisements you have to place) of your intent to do business in the community.
- Have Business phone or Extra Residential Phone Lines installed.
- Check into Business Insurance needs.
- Get Adequate Business Insurance or a Business Rider to a Homeowner's Policy.
LLC Operating Agreements...
This checklist is provided to help you develop your LLC operating agreement. Due to the various policy and legislative changes that occur frequently, some of these steps may not apply to your LLC. Additionally, there may be other steps that are required by your LLC that are not covered here. Contact Checks and Balances to begin this process...
LLC Agreement Checklist:
- Name of LLC, names of initial members, and date of agreement.
- Date the LLC intends to commence its legal existence.
- Description of LLC's business or investment purpose or activities.
- Duration of the LLC.
- Description of LLC's principal place of business, and name and address of LLC's registered agent.
- Designation of managers (if appropriate), and provisions for removing existing managers and replacing them with new managers.
- Required initial capital contributions and provisions for anticipated and unanticipated future contributions of capital (including what happens to members who fail to make their contributions).
- Dates of LLC distributions and rights of members to take draws in advance of formal distribution dates.
- Descriptions of how distributions are calculated (for example, if certain members are to receive "preferred returns" with respect to their capital accounts).
- Provisions for member salaries (treated as IRC section 707 guaranteed payments for tax purposes).
- Specific authority for LLC to borrow or incur debts.
- Specific authority for members to lend to LLC and/or for LLC to lend to members.
- Place where LLC's legal and financial records will be kept, and rights of members to demand an accounting from the entity.
- Rights of members to obtain access to LLC's books and records.
- Any restrictions on authority of managers to act without member approval (for example, a unanimous vote of the members may be required to amend the operating agreement or to engage in certain major transactions, such as a sale of substantially all of the LLC's assets).
- Voting provisions for what is a quorum, how members' votes are counted (per capita or based on percentage interest in the LLC), what majority is needed to conclude on certain issues, etc.
- Provisions for periodic meeting of the members.
- Procedures for admission of new members.