Starting a Business

Know the Simple Steps for Starting Your Business Right.

Owning your own business is right up there with apple pie and baseball as an American pastime. In order to assure that your business succeeds beyond the initial desire and thrill of fulfilling a dream, you must take the time to develop a comprehensive plan and gain the advantage of having all pertinent information in place before you begin your venture.

We can help you avoid becoming another failed business statistic.

With our help, you will identify and avoid the common mistakes many new business owners make. We will help you build a business plan for success, as well as provide financial management services to meet your needs.

Steps to starting your business right…

  • Prepare a business plan and determine your initial capital needs.
  • Identify your current resources, as well as sources of start-up capital and your borrowing capacity.
  • Review potential business structures in terms of tax advantages and portability in case you need to relocate.
  • Plan for financial management of your business by selecting accounting software that fits your projected budget and gaining the hardware necessary to run it.
  • Understand the key components of a Cash Flow Projection and develop one to cover each month of your business for the first year, at least.
  • Learn about the best billing and collection procedures to maximize your cash flow.
  • Research and gain an understanding of employment laws so that you are prepared to comply from the start.
  • Consider a home office for maximizing tax deductions.
  • Prepare and file for all local and state licenses and permits.
  • Gain a Federal Employer Identification Number and set up payroll services and payroll tax filing systems with your first employee.
  • Identify any business insurance needs.
  • Develop a Partnership Agreement. By putting the terms of all business partnerships into writing, you will save a lot of future pain and headache, as well as the potential detriment of your business.

Don’t let this list overwhelm your desire to start a business. Our services were created with small business owners like you in mind.

Call us today to start your business the right way!

Let Us Help:

Bob Cohen’s C Corp Pros and Cons

Before I dive into discussing the pros and cons of a C corp, I briefly want to touch on some other things relevant to you as a DC Metro small business owner.Recession. The threat of it hangs in the air like a midwest thunderstorm. And as you anticipate it, you...

Changing Your DC Metro Business Structure – A Savings Opportunity?

Prepare, prepare, prepare. As a recession is bearing down on us all, figuring out how to prepare for economic downturns is something you should be concerned with in your DC Metro business. I know I am.Now, while you and I can’t prepare for every eventuality, we can...

Vendor Negotiation Tips for DC Metro Business Owners

Is your hustle muscle feeling strong right now? I hope so because if your business is going to make it moving forward, it’s going to have to be – at least for somebody on your business team. This inflationary environment virtually demands it (as does a likely...

A Cutting Expenses How-to for DC Metro Businesses

As a small business owner, you’re battling on a lot of different fronts right now. You’re doing your best to keep employees happy, raise prices without driving away customers, pivot to alternative supply options as your current ones dry up, adjust for changing...

Raises and Inflation: DC Metro Business Owners, Listen Up

Everywhere I turn there’s a DC Metro business with a “Now Hiring” sign in the window. Are you seeing this too? Staffing is an issue in every industry across the country. Part of that? Making money isn’t the only reason people want a job. 2020 certainly shifted...

The Art of Raising Prices for DC Metro Small Businesses

The unfortunate reality of things right now is that businesses across the board might need to raise their prices. Inflation’s increasingly pervasive effects, as well as continued supply shortages, demand that pricing models change – or at least be...

Cohen CPA Strategies LLC’s Fighting Inflation Series: Taking Out a Business Loan

Today I want to start a series on how small businesses like yours can fight inflation. Because I know that’s one of the top concerns for businesses across the country right now. But I’d also like to know…How’s your business faring? I’m genuinely interested in how...

The Word on Payment Methods for DC Metro Businesses

…payment methods!Try to come up with one thing that’s more important to your DC Metro business than taking in revenue smoothly. Yeah, I couldn’t, either.And making sure that revenue is coming in becomes almost an obsession when you’re feeling the squeeze of...

Alleviating Cash Flow Management Pains for DC Metro Businesses

[1] Because we’re talking cash flow management today… with a recession looming on the horizon and the effects of inflation being felt so hard in everyday life, it’s difficult not to freak out over what lies ahead for your DC Metro small...

Why Should DC Metro Businesses Care About FASB and GAAP?

 Yes, inflation isn't slowing down, even here in DC Metro.Though it's not the main thing I'll be writing about today, I did want to point out this economic elephant in the room for my Montgomery County business owner readers and clients, and not just speed...

Ready to come in for an appointment?

Click here to schedule a time to meet with us. We will NOT make dealing with a tax professional as painful as it’s been in the past!

Contact Us