New Business Formation

Excellent New Business Formation Services in Tulsa

group of business partners searching for new business formation in TulsaAt the firm of Michael G. Batchlear, CPA, we know how rewarding turning an idea into a new business endeavor can be. Our team also knows how challenging it can be to navigate all the steps it takes to start a business out on the right foot. We help you develop the internal infrastructure and processes, along with evaluating your tax obligations, so you're better prepared to succeed in today's economy and business landscape.

Our team has partnered with countless businesses to get them started and prepared for long-term financial growth and success. We have the expertise and skills that you can trust to help you maximize your profits from the moment you open your doors. If you're looking for new business help in Tulsa, you can count on us to work hard on your behalf to save you resources and time. Contact one of our financial experts today for your free initial consultation.

Call Us: (918) 812-8112 Book a Consultation

Making Your Personal and Business Finances Work for You

As you begin to map out your business and financial plan, you must determine how you want your business finances to interact with your personal finances. We look at your goals and financial situation to fully understand every aspect of your new company and what you're trying to accomplish over the next few years. Our team makes recommendations based on our findings so that you know that you're starting off on a solid foundation. We also keep you informed about potential tax issues you may face, giving you the knowledge you need to foresee problems before they happen as much as possible.

What Business Entity is Right for Me?

accountant assisting client with new business formation in TulsaThere are few decisions that you have to make when starting a new business in Tulsa that will affect your finances and taxes more than selecting a business entity. Depending on your financial and growth goals, the entity you pick can work for or against you. Our team knows your plan is unique to you, full of nuances formed from your strengths, and we have the expertise to help you pick the correct entity for maximum financial gain.

Some of the entities available to choose from include:

  • Sole Proprietorship is the ideal entity for owning and operating your business yourself. As one of the simplest entities to establish, it allows you to easily combine your personal and business finances on your tax return. This provides you with a straightforward return process come tax season. As the sole proprietor of your new business, you will also be responsible for all liabilities because your business is not a separate legal entity.
  • Partnerships are a good choice when you and one or more individuals decide to share ownership and management duties of the business. To establish this entity, you and your partner(s) will need to sign a written agreement. You and your partner(s) will share in the profits and losses, along with being responsible for all liabilities together. Come tax season, each partner will also need to report their share of the profits and losses on their personal taxes.
  • C-Corporations function as a separate tax entity. With this entity, you will not be personally liable for your business' losses. Also, your new business' profits will be taxed on a corporate level, and your profits will be taxed individually.
  • S-Corporations limit your liabilities and allow the company's profits to go to the shareholders and yourself without being subject to federal corporate tax regulations. The specific Internal Revenue Code requirements for this entity must be adhered to by your business to be eligible for this entity.
  • Limited Liability Companies allow you to operate much like a sole proprietorship or partnership while also limiting your liabilities. All profits must be reported on a Schedule C and sent in with your return. You will not be liable for the losses of your business with this entity.

Exceptional Compilations to Improve Financial Organization

business people shaking handsDo you need an overview of your financial position for your shareholders, or has a bank requested to see your economic standing because you're trying to secure funding? If so, you may benefit from our compilation service. By compiling your financial data and shaping it into an easy-to-understand financial statement, our Tulsa new business startup experts create a concise and accurate record of your economic status. During the process of compiling your data, we do not audit your books or ensure their compliance with generally accepted accounting principles (GAAP).

Reliable and Trustworthy New Business Formation Services in Tulsa

It's new businesses like yours that help our communities thrive and grow. Our passion is helping your endeavor achieve lasting financial success that you can build on for years to come. At the firm of Michael G. Batchlear, CPA, we are determined to use our skills for your benefit, so you save time, money, and energy. If you're looking for new business help in Tulsa, you can trust us to be there when you need us and guide you toward building a financial legacy for your loved ones. Contact us today to schedule your appointment.

Call Us: (918) 812-8112 Book a Consultation

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