Getting Your Accounts in Order When Starting a Business

Before you start a new business, you need to make sure that you have everything in order. You want to make sure that the paperwork is in place, that you have the right amount of funding, and that you have the best possible organizational process so that everything is kept in line. For many business owners, starting a business is enough work and they don’t like having to spend so much time on the accounting and taxes for their business, even though these are important parts of running a business. If you would like to spend more time concentrating on your business and less time on the accounting and taxes make sure to contact the professionalsAllan J Rolnick, CPA's to take care of this for you.

Write  out the Business Plan

One of the first things that you will need to do in order to get your business off the ground is to write out a business plan. This is basically going to tell investors everything about your business. It states how much money you will need, how you plan to use it and later pay it off, how many employees, where the business will be located, and so much more. In fact, the more you information you place into the business plan, the easier it becomes to get the financing that you need. If you need any help with figuring out the numbers or any of the accounting parts of your business plan, make sure to contact the professionals at S. Anderson’s to help.

Find  Ways to Finance

Before you can open your doors and start welcoming customers in, you need to make sure that you are finding the right kinds and right amounts of funding. Without the right funding, starting a business can take a lot longer and you may have to give up on your dreams. Luckily, there are a number of options that you can look to in order to properly finance your business including:

• Banks and credit unions—these are sometimes more difficult to get, but they come with the best terms and will be outlined clearly from the start. You will need to have your business plan in order and as much information about yourself, and how you will pay off the loan, as possible.
• Private investor—if you know someone who is willing to invest in your business, you may want to contact them. They will be able to set up the terms of the loan with you, and often these are a bit more relaxed compared to other options.
• Your own savings—most business owners have to bring in some of their own savings in order to get any other funding. This helps to show banks and investors that you are really serious about the business since you are putting up some of your own money.
• Find a partner—it is easier to get the funding if there are more than one of you trying to start the business. This is twice the amount of assets to use to start the business and banks and other investors may be more likely to lend you the money you need.
• Family and friends—you will need to be careful with this option, because it can lead to some fights if not handled properly. But if you have some family and friends who are willing to help you out, this can be a great source to help you out.

Contact our professionals at S. Anderson’s if you are interested in learning how much money you will need to start your business and get it going on the right track.

Keep  Records for Tax Time

No matter what kind of business you are running, you need to keep the business records in order and organized for tax time. This helps you to receive all the deductions and credits that you qualify for during tax time and can also save you some money. But many business owners find that it is difficult to keep all these records. They want to do it all the right way, but often receipts and other important information can get lost in all the shuffle. Rather than worrying about all this difficult stuff and hoping that you can figure it out during tax time, make sure to contact the professionals at S. Anderson’s. We can take over your record keeping and accounting needs so you can rest easy knowing that all this is taken care of.

Find  Professionals to Help with Accounting and Taxes

Finding time to take care of your business accounting and taxes can seem impossible with all the other plates you need to juggle. But you do need to keep great records during tax time and to ensure that your business is doing its very best. Instead of stressing out and worrying about trying to get all this done on your own, make sure to find the right professionals to take care of the work for you. When you hire a good professional to take over the accounting job, such as the professionals at S. Anderson’s, you are freeing up your time to work on more important things in the business while still getting this important task done.

If you are having trouble keeping up with your accounting needs or would like to concentrate more on your business rather than the paperwork, make sure to contact Allan J Rolnick, CPA. We can take over the hassle of all that accounting and your taxes and do the hard work for you. Contact us today to get started.