Open with the paperwork already in order.

What this covers

• Entity formation guidance
• Accounting-system and QuickBooks setup
• Payroll registration
• Bookkeeping foundations
• A filing calendar you can follow

Decisions worth making early

Sole proprietorship, LLC, S corporation, or corporation — the choice affects your taxes, your payroll obligations, and how much paperwork the business generates every year. It is far cheaper to decide correctly at the start than to restructure later.

First-year checklist

• Entity selection and registration
• EIN and tax account registrations
• Business bank account and record separation
• Bookkeeping system and chart of accounts
• Payroll setup if you will have employees
• Sales tax registration if you will collect it
• Estimated tax schedule for the owner
• A calendar of every filing deadline you now own