CPA in Hot Springs AR
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Hot Springs CPA

Incorporation Services

Incorporation and New Business Advisor Services

Incorporation Services
The idea of starting a new business is an exciting prospect but there are many obstacles to overcome. The financial decisions made early on often dictate whether a new business will succeed or fail. For example, securing the right business structure is an essential part of minimizing your tax burden and maximizing your profits. Don’t risk making a mistake, contact Hot Springs CPA Services for the practical advice you need to make the best decisions for your new business. Hot Springs CPA Services will work with new and developing businesses throughout the Central Arkansas area to help simplify business formation and incorporation procedures.

24 Hour Service

We can have your corporation or LLC formed within 24 hours so you can begin conducting business.

Free Guidance & Name Check

We provide free guidance on selecting the correct entity and then checking if its name is available

Which State To Incorporate In

We can form your business in any of the 50 states.We will guide you in selecting the appropriate state based on your specific circumstances. Please note that Delaware and Nevada are popular, but often not the best choice.

Minimizing Taxes Using Your Company/LLC

It is one thing to form the correct company, it’s entirely another to harness and manage the tax benefits to your advantage. Our ongoing services will assure that you accomplish this by having the lowest possible tax exposure while also guiding you on how to best take distributions from your company.

Opening Bank Accounts

Our relationships with multiple banking institutions affords our clients the ability to efficiently open bank accounts, even under strict banking guidelines.

Payroll / Health Insurance / Benefits

The rules for payroll and social security are daunting. We will guide you on how to properly set up payroll and meet all payroll related compliance matters for both IRS and State. In addition, we will guide you on your options surrounding health insurance, retirement and fringe benefits.

Choosing the Right Type of Entity

The type of entity under which you incorporate has enormous implications for a new business. Hot Springs CPA Services can explain the pertinent tax and legal issues and help you determine the best choice for your venture. Here is a brief rundown of several common forms of incorporation.

Corporations

A corporation is a separate legal entity in which the owners or shareholders have no personal liability for its obligations. There are two types:

C Corporations

  • The corporation is taxed on its income and its shareholders are also taxed on distributions or dividends they receive from the corporation.
  • It is a separate legal entity from its shareholders.
  • If offers good asset protection.

S Corporations

  • The corporation is not taxed, but shareholders must report taxes on their individual returns.
  • It is a separate legal entity from its shareholders.
  • It offers good asset protection.
  • It must meet certain legal requirements or risk being treated as a C Corporation.

Limited Liability Partnership (LLP)

An LLP is comprised of two types of partners. General partners have management authority as well as personal liability for the firm’s obligations, while limited partners are simply cash investors with no management authority and liability for only the amount they have invested. An LLP is not a separate tax-paying entity and often is formed with a C or S corporation as a general partnership.

Limited Liability Company (LLC)

An LLC requires an organizational agreement similar to a partnership agreement and must file articles of organization with the Secretary of State. The owners or members are shielded from personal liability for the company’s obligations. An LLC may be taxed as a partnership, so its members must report income and deductions on their individual tax returns.
We’ll be happy to meet with you at no cost or obligation to introduce our firm and discuss how partnering with Hot Springs CPA Services can get your new business off to a great start. Call us at 501-222-7804 to set up an appointment or request a consultation through our website.