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Starting a business

Starting a new business can be an incredibly rewarding professional endeavor. Get the structure in place to ensure you are positioned for success and protected from personal risk.

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What you need to know

Key steps to consider, common mistakes, and services that can help you plan for now and for your future

1. Assess Costs and Personal Liability

Startup costs and potential funding needs for your business entity should be accounted for in advance in order to limit risk and ensure accurate budgeting.


2. Determine the Optimal Business Structure

Identify whether a sole proprietorship, partnership, Limited Liability Company (LLC), C-corporation or S-corporation is the right fit for your business.


3. Identify Tax Opportunities

State and federal regulations for taxes, but also licensing and zoning rules, will all apply to your new business tax planning. Certain tax credits such as QSBS can be helpful as well.


4. Set Up Insurance

Securing sufficient insurance coverage is necessary before a company opens its doors to reduce the risk of substantial financial damage.

Common Mistakes

  • funding

    Insufficient funding to launch business

  • Business x personal taxes

    Misunderstanding business and personal tax rules

  • financial risk

    Taking on unknown personal financial risk

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