​1661 North Main Street

​Sunset, UT 84015

​​​​​​​​​​​​Russell W. James, CPA, pc 

Register for EFTPS

List of things to do when you start your business:

• Pick your business location
• ​Choose a business structure
  
• Choose a business name
• Register your business 
• Get Federal and State tax ID numbers
• Apply for licenses and permits
• Open a business bank account
• Get business insurance

Elect to be an SCorp

​Form 2553

SS-4 - Application for Employer Identification Number

Considerations in Forming a Limited Liability Company

What's the difference between an LLC and a Corporaton?  

• Both Protect owners so they're not personally on the hook for the business liabilities or debts.  But, key differences include how they're owned (LLCs have one or more individual members, and corporations have shareholders) and maintained (corporations generally have more formal record-keeping and reporting requirements).
  

Business Structures

Do I need and LLC?   

• No, but you might wantone.  Forming an LLC helps protect your personal assets.  It also unlocks the ability for you to open bank accounts, enter into contracts, hire employees, and get business licenses and permits

OneStop Online Business Registration

Start a Business

How am I taxed as an LLC?  

• You choose.  Single-member LLCs can file as a sole proprietor.  Multi-member LLCs can file as a partnership.  Any LLC can file as a C or S corporation.  If you are an LLC and want to elect to become a S Corp then file form 2553 by the deadline
  

1661 North Main Street

Sunset, UT 84015

(801) 409-1309

​​​​​​​​​​​Simple Accounting

​Call Us: 801-409-1309

Frequently asked questions