If you have decided to stop working for someone else and start your own business, then great for you! That turns you from an employee working for a wage to an entrepreneur overnight.
However, it has to be said that starting your own business in San Francisco can be scary. In most cases, you may be doing it entirely on your own. Some people may start up with a partner or two, but in many cases, there is just you. And that means sink or swim! Yes, you know that you have got to find customers, and to begin with, that is the only thing that you need to concentrate on.
However, when you do take on customers, you then have to produce the products or provide the services that you offer, and that means that you have to spend time doing that which means that you have less time to spend finding more customers!
But hey! As you take on more customers, you will then find that you need to take on an employee to deal with the day-to-day operations, and suddenly you are now also a boss!
But that’s great because now you can spend more time finding new customers again, and your business is expanding, because while your employee is doing the office work or whatever it is, you are producing more turnover. It’s all great. That is the way a start-up works. Then you may need another employee – and so it goes on.
This is the way things should work if you are going to be successful, so you can congratulate yourself – and just keep on expanding. Maybe take on a salesman as well. It’s all good.
The Fly in the Ointment: The IRS
However, there is just one small, tiny fly in the ointment and that is known as the IRS. As you start making a profit, they will require you to give a chunk of it to them. That also means that you will need to keep books recording your income and outgoings. That’s the bad news. It is another one of those things which eats into your time. Furthermore, while you ae great at your business, you are probably not great at bookkeeping. And tax returns. And all that stuff.
This is why you need us at Safe Harbor, because we can deal with all your start-up tax return preparation for you. Not only can we deal with your start-up tax return preparation, but we can also advise you on many different ways that you may be able to minimize the amount of tax that you will have to pay.
Paying the minimum amount of tax is what we are all about. We make certain that we don’t pay a cent more than the law requires, and our start-up tax return preparation will make sure that you don’t either.
In fact, even better, if you are preparing to open your business, come and talk to us first. We will ensure that you get off on the right foot when it comes to paying taxes.
