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Posted 06/15/2020 in Category 1 by Miller & Company LLP

BUSINESS REGISTRATION


BUSINESS REGISTRATION

If you’re getting ready to start a new business, you may already know the many benefits of officially registering it with your state. As a successful entrepreneur, a top-flight corporate executive or a wealthy individual, you may have had experience starting or registering businesses. Or maybe you’ve turned an existing partnership or sole proprietorship into a corporate entity.

Starting a new business in NYC is a thrilling time. Once the thrill has worn off, however, you realize how much hard work you have ahead of you. If you can get the business off to good start, though, you can carry that energy forward and reap even more of those hard-won rewards.

STARTING A BUSINESSES

You need a methodical plan of action to start and run a successful NYC business enterprise. The business accounting experts at Miller & Company help you avoid the common pitfalls of many new businesses. Take advantage of the expertise for new business formation and business registration. Get help choosing a corporate structure and incorporating your business with your state. There are several viable business registration entities to select from:

  • Sole proprietorship
  • Partnership
  • Limited partnership
  • Limited liability company (LLC)
  • S Corporation (S corp)
  • C Corporation (C corp)
  • Not-for-profit corporation
  • Foreign corporation

THE PROS AND CONS OF INCORPORATION

The main reason to register and incorporate your business is to limit your liability. Starting a new business requires that you invest considerable time and money. By incorporating, you protect your personal wealth from the company’s profits or losses. That’s the main reason to incorporate and register your business. But there are other good reasons too, including:

  • Business growth now and in the future. Incorporating improves creditability, which can help you reach new customers and find potential partners. A corporation has an indefinite lifespan in New York, so the company still exists after you retire. It’s something you can pass from generation to generation.
  • Tax breaks and secured assets. As the owner of a corporation in NYC, you can take advantage of its liability protections. Creditors can’t put a lien on your home or repossess your car if your business owes them money. Corporations also gain tax advantages that aren’t available to individuals, such as health insurance premium write-offs, as well as savings on life insurance and self-employment taxes.
  • Retirement. You can take advantage of 401(k) plans and other best retirement plans available if your business is incorporated.
  • More fundraising options. Selling stock in your company makes it easier to raise capital. Also, many banks prefer working with corporations when lending money.

Read more at https://www.cpafirmnyc.com/business-registration

Working Hours:
Monday - Friday: 9:00 am - 7:00 pm;
Saturday: 9:00 am - 4:00 pm,
Sunday: Closed
Payment: cash, check, credit cards.

CONTACT US
Miller & Company LLP
Queens, NYC
141-07 20th Ave, Suite 101,
Whitestone, NY 11357
718-767-0737

https://www.cpafirmnyc.com

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