Business Formation
Partner with a virtual expert who is dedicated to your business. Our experts can also manage your bookkeeping, taxes, payroll, compliance, and more for your new business!
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How business formation works:
Business formation costs are often tax deductible
Consult and Sign Up
You will receive a free consultation and quote. The consultation will cover the business you want to open and the proper structure for what you envision. Once accepted, you will gain access to our portal.
Finalize Business Structure and Name
At times multiple business structures could be options for you. We will go over the benefits of each so you can make the best decision. We will verify that your business name is available.
You receive business registration documents.
We will register your business with the state, IRS, and deliver your operating agreement or articles of incorporation so that you may open a business bank account.
Choose a business structure:
LLC – Limited Liability Company
Great structure for doing business by yourself or with a team. Ensure that you are protected for your business liabilities with an LLC.
Starting at $99 + filing fees.
Benefits:
✓ You’re not personally responsible for business liabilities
✓ Unlimited members or owners allowed
✓ More flexibility on you run and manage your business. LLCs are not required to have board of directors.
✓ Unlimited members or owners allowed
Tax:
✓ Sole Proprietorship (Schedule C)
✓ Partnership (Form 1065)
✓ S-Corporation – LLCs can elect to be taxed like an S-Corporation (Form 1120-S).
Drawbacks to consider:
✓ Ongoing filing fees to stay compliant on an annual basis. KleanBooks has compliance services to help your business stay compliant.
✓ LLCs cannot go public
✓ Not recognized globally which means if you conduct business internationally, you can be taxed as a corporation in other countries.
DBA – Doing Business As
Are you wanting to do business under a different name without opening a new company? This option is great if you are seeking new branding or if you are a sole proprietor.
Starting at $99 + filing fees.Benefits:
✓ Not a legal entity type.
✓ Best if you already have a company and need an easy setup and do not want further compliance.
Tax:
✓ Dependent on the entity type of your structure. DBAs do not impact your tax structure.
Drawbacks to consider:
✓ No personal liability protection is you are an individual.
Inc – S or C Corporation
Do you plan on issuing shares, going national, international or public? Do the most with a corporation.
Starting at $149 + filing fees.Benefits:
✓ You’re not personally responsible for business liabilities
✓ Unlimited owners and shareholders allowed
✓ Owners may receive preferred stock
✓ Best if you plan to go public.
✓ Recognized internationally
✓ Preferred by investors
Tax:
✓ Dependent on the entity type of your structure. DBAs do not impact your tax structure.
Drawbacks to consider:
✓ Ongoing filings and fees to stay compliant on an annual basis. KleanBooks has compliance services to help your business stay compliant.
✓ Less management flexiblity and a board of directors is required.
✓ More administrative and regulations to consider. There are strict rules regarding holding meeting and keeping records.
Why Small & Medium Businesses Love KleanBooks:
Affordable
We have modeled our prices competitively while providing a superior service. Many of our services can be packaged to create savings. In-house experts on average cost x4-5 times.
Accurate
We provide you with accurate filings and reports so that you can make business decisions easily. If something is incorrect or requires fixing for a period you paid for, we will correct it at no additional price.
Secure
Our portal uses bank-level security to protect your data. Only you and allowed users have access. Forget the days of password-protected files and access your documents securely online 24/7.
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