Starting a business is exciting, but choosing a business structure and completing the required filings can be confusing.

 

Royal Tax & Accounting helps entrepreneurs and small business owners with business entity formation and related filing requirements in Virginia, Maryland and the DC metro area.

 

Whether you are starting a contracting company, landscaping business, construction company or another service business, we can help you understand the basic steps involved in establishing your business entity.

 

 

 

Business Entity Formation

 

We provide assistance with forming business entities such as:

 

• Limited Liability Companies (LLCs)
• S-Corporations
• C-Corporations

 

The right structure depends on your business, ownership, tax situation and goals. We can help you understand the differences between common business structures and the filing requirements associated with your chosen entity.

 

 

 

What Our Business Formation Service Includes

 

Our business formation assistance may include:

 

• Business entity formation
• Preparation of applicable state filing documents
• Filing applicable state documents
• Assistance with obtaining a Federal Employer Identification Number (EIN)
• Guidance regarding basic business registration requirements
• General guidance on business insurance considerations

 

State and local requirements can vary depending on the type of business and where it operates.

 

 

 

Starting a Contracting or Service Business?

 

Contractors, landscapers, construction companies and other service businesses may have additional considerations when starting a business.

 

Before beginning operations, business owners may need to address matters such as:

 

• Business entity selection
• EIN registration
• State and local registrations
• Business licenses or permits
• Insurance requirements
• Business banking
• Bookkeeping services and financial recordkeeping
• Federal and state tax responsibilities

 

We can help you understand the basic business setup process and identify areas where additional professional or government assistance may be required.

 

 

 

LLC vs. S-Corporation

 

An LLC and an S-Corporation are not simply two identical types of businesses.

 

An LLC is a legal business entity created under state law. An S-Corporation is a federal tax election that may be available to an eligible corporation or LLC.

 

The best choice depends on your individual business circumstances, ownership structure and tax considerations.

 

If you are considering an LLC or S-Corporation, we can help you understand the basic tax preparation and filing considerations before you make a decision.

 

 

 

Get Your Business Started

 

Starting your business with organized records and the appropriate registrations can make it easier to manage your financial and tax responsibilities later.

 

Royal Tax & Accounting works with entrepreneurs and small business owners throughout Virginia, Maryland and the DC metro area.

 

Whether you are starting a contracting business, landscaping company, construction company or another service business, contact us to discuss your business formation needs.

 

Ready to start your business? Contact Royal Tax & Accounting today.