Starting, Buying or Selling a Business

If You Are Starting, Buying or Selling a Business

If you are planning a start-up, or to purchase an existing business, or to sell all or part of a business that you own, you will need expert counsel and advice from professionals who are qualified to handle all aspects of the transaction. We are experienced in analyzing financial records and tax returns, purchase agreements, leases, franchise agreements, non-compete agreements, buy-sell agreements and restriction agreements. We are experienced in assisting entrepreneurs negotiate the deal and leading the negotiations when necessary. And, we have the capabilities and know-how to close the transaction. The listing below presents many areas that you may want to consider.

Growing Entrepreneurs

We thrive on helping entrepreneurs start and grow their businesses. We have counseled and advised hundreds of aspiring business owners on the financial aspects of their start-ups.

We can help you with your choice of entity and your choice of business tax structure. We have over 30 years of experience and we can help you choose an:

• S CORPORATION
• C CORPORATION
• PC - PROFESSIONAL CORPORATION
• LLC - LIMITED LIABILITY COMPANY
• SMLLC - SINGLE MEMBER LIMITED LIABILITY COMPANY
• LLP - LIMITED LIABILITY PARTNERSHIP
• FLP - FAMILY LIMITED PARTNERSHIP
• PARTNERSHIP
• PROPRIETERSHIP

if it is the appropriate entity for you and your business.

The list below presents a myriad of services that we offer including preparing forecasts and projections, loan proposals, QuickBooks training, and State and Federal registrations.

BE ~ DO ~ HAVE

If you are starting or buying a business for the first time, you may benefit from understanding and applying the Taoist approach to your new business venture.

The Taoist cycle of the universe is be, do, have.  To illustrate the cycle, ask a group of people what they would do to help a brother who wanted to be a golfer. Some would say he would need to have golf clubs.  Others would say he would need to do practice and lessons.  But the Taoism suggests that the source of creativity comes from the domain of being.

What happens when you start with be?  "I want to be a golfer, I mean I really want to be a golfer."  So you actually come from being.  "And I do golf things. I mean I do them, as if I wanted to be a golfer."  What are you likely to have in the end?  You are likely to have the satisfaction from being a golfer. If I want to be a golfer I must do what golfers do and then I will have the experience of actually being a golfer.

Do you know why a lot of people don't become financially independent?  You have to be a saver, investor or business owner before you can become financially independent.  And a lot of people don't like to admit that they can't save money, invest money or risk money to start a business.  So they start with have.  And they have money problems, and they do financial planning and programs, but they still have money problems.  If they said, "I am going to be financially independent, and I'm going to do what financially independent persons do, and I'm going to have the satisfaction of being a financially independent person, they would eventually have the experience of being financially independent.

Pick any business or profession that you feel suits your nature and capabilities, and say, "I am going to be a _______________, and I'm going to do what _______________ do, and I'm going to have the satisfaction of being a _______________."  Then you will eventually have that experience.

As an example, if you say "I am going to be a home builder," and "I'm going to do the training and work experience necessary to be a home builder," you will actually have the experience of being a home builder.

As the popular book "The Millionaire Next Door" demonstrates, the majority of the financially independent people in this country became so from owning and operating their own businesses.  Clint Eastwood once proclaimed that he was an overnight success after 20 years in the business.  This appropriately describes the small business owners and clients whom we have worked with and watched grow successful over the years to the point that they are now financially independent.

Call Us If You Are Starting or Buying a Business!

Call us and we will arrange a consultation to discuss you business plans.  As presented below, we offer a myriad of services from helping you choose your form of business, such as a corporation or Limited Liability Company, to preparing forecasts, projections and loan proposals. Call us at (317) 844-1303 or email us at Schneider@CPAttorney.com.

Our Start-Up and New Business Services

• Starting a New Business
• How to Organize Your Business
• Determining the "Right" Business for You
• Buying or Selling an Existing Business
• Due Diligence
• Analysis of Tax and Financial Records
• Letter of Intent
• Business and Coaching Advice
• Business Valuation
• Business Plan
• Forecasts and Projections
• Choice of Business Entity
• Sole Proprietorship
• General Partnership
• Limited Partnership
• LLC- Limited Liability Company
• Single Member LLC
• LLP - Limited Liability Partnership
• C or Regular Corporation
• S Corporation
• Forming Board of Directors
• Selection of Officers
• Annual Meetings
• Special Corporate Meetings
• Corporate Minutes
• Corporate Bylaws
• Corporate Share Certificates
• LLC Operating Agreement Planning
• LLC Members
• LLC Managers
• Allocation of LLC Profits
• LLC Officers
• Filing Fees
• Naming Your Business
• S Corporation Election
• "Check-The-Box" Planning
• Federal ID Number
• Indiana Registration
• Sales Tax
• Federal & State Income Taxes
• State and Federal Unemployment Tax
• Social Security Tax
• Self-Employment Tax
• Estimated Tax
• Personal Holding Company Tax
• Accumulated Earnings Tax
• Choice of Tax Year
• Choice of Accounting Methods
• Cash or Accrual Method of Accounting 
• Start-Up Expenses
• Pass-Through Entity Planning
• State and Federal Income Tax Returns
• Property Tax Returns
• Tax Elections
• Multi-State Reporting Issues
• Multi-State Tax Issues
• Set-Up of Books and Records
• Chart of Accounts
• Choice of Accounting Software
• Computer Software Installation
• QuickBooks, Peachtree, and Other Accounting Software
• Record Keeping Requirements for Your Business
• Accounting and Bookkeeping Assistance, Advice & Instruction
• Payroll Preparation
• Payroll Tax Deposits
• Payroll Tax Reporting
• W-2 and 1099 Reporting
• Employing Family Members
• Wage Planning
• Reasonable Compensation
• Employee Benefits
• Qualified Retirement Plans
• Employees vs. Independent Contractors
• Catch Up of Accounting and Tax Records
• Part-Time Onsite Accounting Assistance
• Controllership Services
• Reminders of Important Filing Dates
• Assurance Services
• Financial Statement Preparation
• Balance Sheet
• Income Statement
• Statement of Cash Flow
• How to Read and Understand Financial Statements
• Analysis of Financial Statements
• General Journal and Ledger Preparation
• Proposed Adjusting Journal Entries
• Proposed Year-End Closing Procedures
• Specialized Financial Reports for Your Business
• Compilation and Review Reports
• Goodwill
• Analyzing Business Transactions or Records
• High Income Tax Strategies
• Asset Purchase Allocations
• Depreciation Computations
• Depreciation Scheduling
• Equipment Expense Election
• Ratio Analysis
• Profit Analysis
• Performance Analysis
• Industry Financial Comparisons
• Expense Reduction
• Business Loans and Bank Negotiations
• SBA Loans
• Business Real Estate Acquisitions
• IRS Representation
• IRS Audits, Investigations and Appeals
• IRS Practice and Procedure
• Indiana Department of Revenue
• Wage and Hour Audits
• Contract Analysis
• Lease Negotiations and Planning
• Asset vs. Stock Purchases
• Purchase of Stock
• Analysis of Stock Purchase Agreement
• Purchase of Assets
• Analysis of Asset Purchase Agreement
• Tax Advantages of Taxable Sales
• Buy-Sell Agreement Considerations
• Non-Compete Agreement Planning
• Employment Contract Planning
• Stock Restriction Planning
• Amortization and Intangible Assets
• Leasehold Improvements
• Licenses
• Insurance Planning
• Choosing a Location for Your Business
• Ordinary and Necessary Business Expenses
• Considerations in Computing Net Income
• Home Office
• Travel and Entertainment
• Automobile Expenses
• Net Operating Losses
• Installment Purchases or Sales
• Contingent Payment Transactions
• Succession Planning
• Negotiations with Vendors, Lawyers and Government Agencies
• Shareholder or Partner Disputes
• Informal Dispute Resolution
• Expert Testimony Regarding Financial Matters
• Asset Protection Planning