James R. Kay, CPA

Helping you keep more of what you earn !

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Our Special Offer for New Businesses

The start-up phase of a new business is critical.  Planning is paramount.  The need for professional help is high, but this need for help comes at a time when resources are limited.

Your success will depend on good planning--getting things set up right in the beginning.  It would be sad to look back and say, "I wish I had known that when I started--things would have been a lot easier."

As a special consideration to owners of new businesses, or to those contemplating a new business, we will provide you with professional advice for $75 per hour.  This rate is good until the end of the first year of operation of your new business.  This rate is for consultation, not tax returns.

Here are some of the questions we can help you with.

  • What form of organization should I choose?

  • What are the advantages of incorporating or forming a Limited Liability Company (LLC)?

  • What are the tax consequences of operating as a sole-proprietor?

  • How does my choice of entity affect the legal liability I may be faced with personally?

  • When should a lawyer be involved in the organization of my business?

  • What will be the most critical accounting cycle in my business?  What business and accounting software will be best suited to handling this critical cycle?

  • How much of my own bookkeeping should I do?  How often should a professional review my books during the year?

  • What basis of accounting should I elect to use--cash, accrual, or tax basis?

  • What kind of records do I need to keep to satisfy the IRS?

  • What recent tax law changes will help me take large deductions for the cost of software, equipment and furnishings?

  • How do I handle auto expenses?  Should I buy or lease?  What can I write off?  Should I use actual expenses or the mileage method?

  • Can I take a home office deduction?

  • How do I handle start-up costs and organization costs?

  • How do I set up a Health Care Plan for me and my family and then write-off health care expenses like they were business expenses?

  • How do I set up a Retirement Plan for myself and avoid paying any social security tax on the contributions?  Why am I currently paying social security tax on my contributions to a 401(k) or IRA?

  • What kind of federal or state employment taxes am I subject to?  What reports do I need to file?

  • Am I subject to state franchise tax?  How can I avoid paying the state franchise tax?

  • Should I be collecting sales tax on my product or service?

For help with these and other questions, call for an appointment.  

Our phone number is 512-260-1919

Cedar Park, Texas

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