Subscribe to our newsletter for monthly tax tips:

New Business Formation

Entrepreneurship is, without a doubt, the American dream. Be your own boss, operate under your own rules and ethics, and succeed through your own hard work and business savvy.

However, starting and operating a business requires a great deal of work, and can involve navigating some potentially confusing red tape. There are many aspects of the process that may catch the uninitiated by surprise.

This is why Logan & Associates Ltd. offers our experience and expertise to new entrepreneurs who want a helping hand turning their ideas into reality.

Deciding on a Business Structure

There are numerous types of entities that you can establish your business as, each with their own unique traits and benefits. Which one you choose will be entirely dependent on what kind of business you are starting, what your goals are, and your individual needs as an owner.

  • Sole Proprietorship – As a sole proprietor, you are your business. There is no legal distinction between you and the services your business provides. As such, you are responsible for 100% of the taxes due on your profits, and are liable for all payments owed by the company.
  • LLC – An LLC has the benefit of offering a great deal more protection to the owners of the company. LLCs are known as ‘pass-through’ entities, called so because all profits pass through to the owner, who pays the business’ taxes on their own personal return.
  • Corporation – Corporation distinguish the business from the owners, providing further liability protections for the owners, as well as separating the tax burden.

Our team at Logan & Associates Ltd. will get to know you and your business and help you decide on which structure is right for you.

The Plan is the Plan

A must-have for any and all businesses is what’s known as a business plan. It may sound straightforward, but the information required to complete your business plan can be somewhat abstract and dense for many people.

Between cost projects, profit/loss projections, financial plans, marketing, management, and the many other aspects of a business to take into account, it’s easy for the inexperienced to miss crucial details.

Our team of talented financial professionals can guide you through the process of laying out an impeccable plan that will impress your potential investors, making it easier to secure the funding you need to get your business off the ground.

The Thrill of the Venture

Starting your first business is an exciting process. Watching your dreams go from thought to reality is a special kind of thrill.

However, when that thrill is gone, there is hard work to be done. That’s why {company-name} is here to ensure you start out on the right track.

Don’t hesitate to contact us today for an initial consultation. Our firm proudly serves small business in Highland Park, Chicago, and the greater Lake County area.

Please contact us by using the form below:

Name
E-Mail
Phone Number
Best time to call
Comments