At Zera Accounting, we understand that starting or closing a business can be both exciting and overwhelming. As a faith-based company with over 20 years of experience, we're committed to guiding small businesses through these critical transitions with increased ease.
Our Approach
We believe in providing honest, transparent, and ethical assistance that aligns with our values and yours. Our experienced team is dedicated to:
- Simplifying complex processes
- Ensuring compliance with all legal and tax requirements
- Maximizing financial benefits through legal and ethical means
- Offering personalized guidance tailored to your unique situation
Business Opening Services
Starting a new business involves numerous financial and legal considerations. We're here to help you lay a strong foundation:
1. Entity Formation
- Advising on the most suitable business structure (LLC, S-Corp, C-Corp, etc.)
- Assisting with business registration and obtaining necessary licenses
2. Understanding Business Structures
Choosing the right business structure is crucial for your company's future. Here's an overview of common business structures:
Sole Proprietorship
- Simplest form of business ownership
- Owner has complete control but also full personal liability
- Business and personal taxes are filed together
Partnership
- Shared ownership between two or more individuals
- Partners share profits, losses, and liabilities
- Can be general partnerships or limited partnerships
Limited Liability Company (LLC)
- Combines benefits of corporations and partnerships
- Provides personal asset protection
- Flexible tax options (can be taxed as a sole proprietorship, partnership, S-Corp, or C-Corp)
- Less formal record-keeping requirements than corporations
S Corporation
- Provides limited liability protection
- Allows pass-through taxation (avoiding double taxation)
- Limited to 100 shareholders, who must be U.S. citizens/residents
- More complex to set up and maintain than an LLC
C Corporation
- Separate legal entity from its owners
- Provides the strongest protection from personal liability
- Subject to corporate income tax (potential for double taxation)
- No restrictions on ownership
- More complex and costly to set up and maintain
Each structure has its own advantages and considerations in terms of liability protection, tax implications, and operational flexibility. At Zera Accounting, we'll help you understand these options and choose the structure that best aligns with your business goals and personal circumstances.
3. Tax Planning
- Obtaining necessary tax ID numbers (EIN, state tax IDs)
- Setting up tax accounts and understanding tax obligations
- Developing a tax strategy to minimize future liabilities
4. Financial Setup
- Establishing accounting systems and procedures
- Setting up payroll systems
- Creating a business budget and financial projections
5. Compliance Guidance
- Ensuring adherence to industry-specific regulations
- Advising on required business insurance
Business Closing Services
Closing a business requires careful planning to ensure all obligations are met and assets are properly handled:
1. Dissolution Planning
- Developing a comprehensive closure plan
- Advising on the timing of the closure to minimize tax implications
2. Financial Wrap-up
- Final tax returns and payments
- Handling outstanding debts and receivables
- Asset distribution guidance
3. Regulatory Compliance
- Ensuring all necessary dissolution paperwork is filed
- Canceling business licenses and permits
4. Employee Considerations
- Guidance on final payroll and benefits obligations
- Assistance with required employee notifications
Why Choose Zera Accounting?
- Experience: With over two decades in the field, we've guided countless businesses through openings and closings.
- Expertise: Licensed to practice in all 50 states, we're well-versed in varying state regulations.
- Integrity: As a faith-based company, we prioritize honesty and transparency in all our dealings.
- Comprehensive Service: We offer end-to-end assistance, from initial planning to final execution.
- Cost-Effective Solutions: Our goal is to save you money throughout the process while ensuring full compliance.
Navigating the Business Lifecycle with Confidence
Starting or closing a business often feels like navigating murky waters, especially with complex tax laws and regulatory requirements. Let Zera Accounting be your trusted guide. We're here to simplify these processes, provide clear direction, and help you make informed decisions every step of the way.
Whether you're embarking on a new business venture or closing a chapter, our team is committed to supporting you through this significant transition. We'll help you understand your options, meet your obligations, and position yourself for future success.
Contact Zera Accounting today to learn how we can assist you in confidently navigating your business opening or closing. Let us help you turn these challenging transitions into opportunities for growth and financial stewardship.