Have a question about your small business startup? Call (720) 613-5595 for a free consultation with a CPA accountant.
Legal Entity – Registering Your Business With Colorado
If you want to start a new business in Denver and/or Colorado, the first thing you’ll need to do is choose a legal entity. The most popular types of legal entities in Colorado include:
Your legal entity decision should be based on the number of people who will own the company (including managing partners and/or shareholders), how much legal protection you want and need, and which legal entity will provide the most tax savings and/or tax benefits.
We can help you make your legal entity decision, and we’ll file your paperwork with the Secretary of State.
Sales Tax – Local And State
If you intend to sell products, you’ll also need to set up a sales tax account with the city your business is located in, as well as with the state of Colorado. Again, we help you do this. Once your sales tax account is opened, we can also help you set up a bookkeeping system for charging and collecting sales tax. We can also help you remit sales tax and file sales tax returns.
Bookkeeping Set Up For Your Small Business
From Day One, it helps to have a good bookkeeping system set up, so that you can track all of your income and expenses by category, produce a balance sheet and profit and loss statement, manage your inventory, and more. We can set up a bookkeeping system for you that’s easy to use – including a virtual bookkeeping system with QuickBooks.
Pricing Your Products And Services
Pricing your products and services in the “sweet spots” (as high as you can go, while still attracting loyal customers and clients) can make the difference between breaking even or giving up, between making a good salary or barely getting by. We can help you evaluate your pricing structure, from a cost of goods and profit margin standpoint, and from a marketing standpoint.
Budgeting And Cash Flow Projections
A monthly budget, which includes an accurate forecast for your cost of goods and overhead, can be an extremely helpful tool. And accurate cash flow projections can help you not only sleep better at night, but also make good, informed decisions in your small business. We can produce expense and revenue forecasts, as well as cash flow forecasts.
If you’ve written a business plan, we’d be happy to review your business plan, testing the assumptions you’ve made on paper, before you risk too much in real life.
Funding For Your Business
If you need money for your business (for working capital, startup costs, marketing, expansion, capital equipment, or any other reason), we can help you evaluate your different options. Those options typically involve equity financing (in which you sell a piece of your business to investors) or debt financing (in which you borrow from a bank or private lender). There are pros and cons to both, and we can run the numbers and talk through scenarios with you so that you can make the best decision.
If you have an idea for a small business, are in the early planning stages, or have started a new business, we’d be happy to talk with you about how we can support you.
For information about starting a business in Colorado, how to choose a bookkeeper or accountant, or to schedule a free consultation with a CPA, please call (720) 613-5595, or e-mail firstname.lastname@example.org.