Remington Financial Group Business Consulting Services
What do I need to do to start a new business? Typically, most people will go to their lawyer first, get the business set up and then contact an accountant. I would rather that you contact me at the beginning. There are many different kinds of companies and I can help you select the best one for the kind of company that you will be setting up. Then I will continue to help you with payroll, tax returns, monthly accounting, and financial statements to whatever degree you need.Yes. When setting up a new business, it is crucial to set up the right type of business, such as corporation, S corporation, limited liability company, limited liability partnership, partnership, sole proprietorship, etc.
I prepare my own tax return, why use your services? Many times you are correct and you can prepare and file a return. But did you take all the deductions? Did you take the available tax credit? Did you go to a tax course in the past 12 months? We find that many returns can be self-prepared but many are lacking in all the deductions that can be taken.Typically, most people will go to their lawyer first, get the business set up and then contact an accountant. I would rather that you contact me at the beginning.
When should I give you my tax information? You should bring all your information in as soon as you have it all together. The sooner you bring it in to me the better chance I have at making sure I've done the best possible job for you.Although lawyers can get the paperwork together to make your incorporation happen, they might not know all the different tax laws that can apply to the different kinds of incorporations. Therefore, I suggest you see an accountant first to find out exactly which kind of incorporation you should pursue. Then have your lawyer finish the paperwork.
How are Limited Liability Companies (LLC) taxed? A single-owner LLC defaults to being taxed as Sole Proprietorship. Income/loss from the LLC is reported on the owner's personal income tax return. A multi-member LLC defaults to being taxed as a Partnership. A Partnership tax return must be filed. The profit or loss is then reported on the owner’s personal tax return. Any LLC can elect to be taxed as a corporation. To do so, one must file an election within 75 days of creating the LLC.I recommend keeping your tax records for seven years.
What services do you provide? Keener Consulting prepares all tax returns including individual, corporation, LLC and LLP, non-profit, estate and trust, partnership, payroll, sales tax, property tax, and other taxes. I also offer training using Quickbooks. Keener Consulting offers bookkeeping services and preparation of financial statements, along with tax planning. We offer financial planning services in analyzing investments and preparing for retirement.
Should I use a lawyer or an accountant to incorporate my business? Although lawyers can get the paperwork together to make your incorporation happen, they might not know all the different tax laws that can apply to the different kinds of incorporations. Therefore, I suggest you see an accountant first to find out exactly which kind of incorporation you should pursue. Then have your lawyer finish the paperwork.My practice services clients in many other areas. I have several clients in the Dallas-Fort Worth metroplex.
