One of the most important decisions for a business owner in Northeast Ohio is determining what type of entity structure is most advantageous in conducting business operations: A Sole Proprietorship? A Corporation? A General or Limited Partnership? A Limited Liability Company? With the new taxes levied under Obamacare, things are becoming clearer. Before we would try to create passive income generators (to off-set passive loses) now subject to the 3.8% Obamacare Medicare surtax.
The process of creating your own business in Northeast Ohio can be a difficult task to take on by yourself. As new taxes and credits come in to effect under Obamacare, each task for creating a solid and successful business strategy from initial startup costs and a 12 month profit projection model to even something as simple as choosing which type of entity structure to use must be considered thoroughly. As one of the most experienced certified valuation analysts in Canton, Ohio, Appalachian Basin CPAs serves to help small business owners with their expertise and years of knowledge to help budding businesses in Stark County, Ohio, come to term with how the new Medicare surtax will affect their future tax returns.
Layering Strategies using a general partnership in combination with S corporations, where the S corporations are the partners in a general partnership. It gives each partner limited liability protection and flexibility within the S corporation to do what he or she wants to do.
It may seem like a big deal, but in most cases using the “Check the Box” rules on IRS Form 8832 will work. Our firm is adept in designing new tax strategies available under the IRS tax code to put your company in the best position for the wake of many new taxes coming down the pike.
Fortunately, small business owners and potential business owners, within Stark County, can turn to Appalachian Basin CPAs in Canton for guidance when it comes to developing the strategy for their business. As a certified valuation analyst, they serve to provide consultations on everything from choosing the entity structure that will best serve your business to developing a financial plan, including start up costs, locating dependable loan institutions and assess your company’s financial position.
Whether you are looking to create a sole proprietorship, corporation or a limited partnership, Appalachian Basin CPAs in Canton, Ohio will serve as a priceless asset when it comes to creating your initial business strategy. With over twenty years of experience, these certified valuation analysts have been serving the greater Stark County, Ohio region since 2004. From explaining the new taxes, including the Medicare surtax and their impact on your business to developing new tax strategies available under the IRS tax code, they will strive to help put your business in the best position to ensure growth and prosperity in today’s economy. For more information visit their site at http://www.abbacpas.com/ or contact them at 330.437.1182 and schedule your consultation today.
Appalachian Basin CPAs
213 Market Ave North
Canton, Ohio 44702