Congratulations! You’ve had a million-dollar idea and you’re ready to put pen to paper and establish a business entity in California.
Now where exactly do you start?
There’s a particular set of steps you must complete in order to start up your business properly, so we’ve compiled a simple checklist below.
3 Steps to Creating a Business Entity in California
Follow these steps to start your California business off on the right foot!
1. Write a Business Plan
Having an idea is one thing, but turning that plan into a great business is another, and writing a business plan is the first step. This includes things like calculating your start up costs, market research, competitor analysis, and figuring out funding. If your idea doesn’t survive the business plan stage, it’s most likely not a strong enough idea. It’s okay to go back to the drawing board and start over again!
2. Decide on Your Business Entity
One of the most important decisions you’ll make in the startup process is deciding which entity is right for your business. The business entity you choose will affect your business’s taxes, liability, and estate planning. It’s in your best interest to consult with a tax and incorporation professional at this stage to help choose the best fit for you.
3. Contact a Business Professional
Once your business plan is completed and your entity is decided on, it’s time to contact a business professional like Robert Hall & Associates. We can assist with the next several steps of creating your business, like registering your business with the secretary of state, filing your DBA, applying for your Federal Employer Identification Number, obtaining requires licenses/permits and more!
Ready to Create Your California Business Entity? We Can Help!
Creating a business entity on your own can be a confusing process. And unlike other things you do in life, if you don’t cross your T’s and dot your I’s when it comes to filing legal paperwork with the federal government, your new business could face civil penalties and fees by the IRS which could put you in the red.
That’s why if you are considering creating a business, it is best to start off on the right foot and seek the advice of a professional–especially one who’s an expert in your state and knows all the state-specific laws pertaining to establishing a business.
If you’re looking to start a business in California, Robert Hall & Associates can file the necessary paperwork to incorporate your business, and help you take advantage of the built-in tax benefits for your chosen structure. Call us today at (818) 242-4888 or schedule your free 30-minute consult now.