For-Profit and Non-Profit Business Formation
When establishing a new business, it’s important to know your preferred structure. Whether a business is for-profit or non-profit will affect every aspect of formation. At NMS Certified Public Accountants, our knowledgeable Ohio CPAs will ensure that no matter your business type, it is set up in the best and most beneficial way possible.
For-Profit vs Non-Profit
Legal formation of a specific type of company can include plans to accommodate legal requirements, ownership levels, rights between owners, capital funding, and distributions, among other factors. Non-profit entities will be more mission-driven, with financial documentation focused on assets that can be used to further their goals. Accountability to funding sources is paramount for any non-profit organization.
On the other hand, for-profit companies will be concerned with building assets that can be distributed as earnings to shareholders. With proper guidance from the outset, and ample attention paid to accounting methods and overall structuring, your for-profit or non-profit company can be set up for success.
At NMS CPA, we are proud to aid in business formation of both for-profit and non-profit businesses, including:
- Charitable Organizations 501(c)3
- Professional & Trade Organizations 501(c)6
- Educational Organizations
- Foundations
- Social Welfare or Advocacy Organizations
- Religious Organizations
- Labor Organizations
- Business Leagues
- Social & Recreational Clubs
- Sole proprietorships
- Partnerships
- Corporations
- Limited Liability Companies (LLC)
We also offer an array of business services for ongoing support and assistance in better managing your new company’s finances.
New Business Formation
Planning and preparing to launch a new business can be overwhelming, but with the right experts on your team, it is a much less daunting task. The experienced pros at NMS Certified Public Accountants make it streamlined and easy. We help decision makers to know which legal entity the company should form under, assess potential tax benefits, and handle other necessities.
Creating a solid structure and planning for growth from the beginning will help business owners maintain control through the early years and prepare the business for success over the long term. You’ll want to be sure the certified public accountants you choose to work with address state and local regulations from the word go, so that you can minimize risk and maximize success, both upfront and in the long run.
Some of the responsibilities we can help with include:
- Preparing a comprehensive business plan
- Determining capital needs and borrowing ability
- Forming the best business structure for your needs
- Preparing a cash flow budget, and establishing billing and collection procedures
- Filing for state and local licenses and permits
- Preparing and filing for an employer identification number (EIN)
- Ensuring compliance with employment laws
- Tax liability planning and projections
- Registering a DBA
Once your business is up and running, look to NMS Certified Public Accountants for continued support in:
Important decisions are best made when backed by experience and real-world knowledge. That’s what you’ll find when you work with NMS Certified Public Accountants.
Rely on Your Trusted, Local CPA for Every Kind of Business Formation Service
Whether you’re creating your next big venture or starting the non-profit you always wished existed, having expert help by your side is a must. With a certified public accountant fluent in Ohio business law and requisites at the ready, you can rest assured that financial decisions are sound and made in line with your organization’s bylaws. We can help you to reduce costs and maximize available resources, whether you’re looking to champion a cause or build a successful for-profit enterprise.
Let’s turn your dream into a reality–get started today and form your new business with the help of the team at NMS Certified Public Accountants.
