The National Directory of
Certified Public Accountants

Ask A CPA - Business Start-ups

1. Are my business start-up costs deductible as current operating expenses?

2. Are small businesses using the Internet ?

3. Are some business locations better than others ?

4. Are there any federal agencies designed to help small businesses ?

5. Are there any organizations available to help me and my small business . I heard of a SCORE Association ?

6. Are there any tax incentives in hiring a person with a disability ?

7. Are there companies that provide search services to ascertain if a new company name will infringe on an existing name or trademark ?

8. As a self-employed individual , how long should I keep my records ?

9. As an employer , what are some questions that I should not ask on a job interview ?

10. By what date must I as the employer issue W-2 forms to my employees ?

11. Can I claim a Home Office deduction ?

12. Can I claim a home office expense?

13. Can I get a business loan if my business is service based with little business collateral ?

14. Can I use the Cash method of accounting in my Liquor business ?

15. Can me and my wife be a Sole Proprietorship ?

16. Do I need to get a Copyright for my business invention ?

17. Do I need to open a separate bank account ?

18. Form 8109 - depository coupons

19. Gifts - business gift limitation

20. How do I register for sales tax and determine on what to charge?

21. How do I calculate the amount of the advanced earned income amount to include in an employee's paycheck ?

22. How do I decide on wage levels ?

23. How do I define my customers ?

24. How do I pay myself?

25. How do I set price levels ?

26. How do I set up the right record keeping system for my business ?

27. I am starting a business and don't know what type of entity I should select to be. Should I incorporate ?

28. I am starting a business with my best friend. Do we need a formal agreement ?

29. I started a new business . Where do I find information on how to file Forms W-2 ?

30. In reference to small businesses , what is the DUNS ( Data Universal Numbering System ) ?

31. Is my personal credit history considered for a business loan ?

32. Is there a web site that will give me a listing of accounting and tax software packages available on the Internet ?

33. Should I make a S Corporation Election ?

34. Web site available to help small businesses

35. What accounting method should I use- Accrual or Cash ?

36. What are some advantages and disadvantages of selecting to be a C Corporation compared to other entities?

37. What are some advantages and disadvantages of selecting to be a Limited Liability Company (LLC) compared to other entities?

38. What are some advantages and disadvantages of selecting to be a Partnership compared to other entities?

39. What are some advantages and disadvantages of selecting to be a S Corporation compared to other entities?

40. What are some advantages and disadvantages of selecting to be a Sole Proprietorship compared to other entities?

41. What Department of Labor signs or posters must be placed in conspicuous locations at my business site?

42. What do I need to open a bank account for my new business?

43. What does a fiscal year mean?

44. What does marketing involve?

45. What expenses are deductible in my home office?

46. What federal form is the Federal Unemployment Tax reported on ?

47. What financial responsibilities do I have for my employees ?

48. What form do I file to apply for an Employer Identification Number ( EIN ) ?

49. What form do I file to apply for the Electronic Federal Tax Payment System ( EFTPS ) ?

50. What forms should an employer ask an independent contractor to fill out ?

51. What is a Business Plan for a new business ?

52. What is a franchise ?

53. What is a Limited Liability Company and what are its tax advantages?

54. What is forecasting ?

55. What is the current year's minimum hourly wage amount?

56. What is the Department of Labor's website address ?

57. What is the IRS phone number to get an EIN Employer Identification Number ?

58. What is the IRS publication that explains home office expenses?

59. What is the IRS web site address ?

60. What is Workers Compensation ?

61. What legal aspects should I consider when starting a new business ?

62. What options do I have beside keeping money in a low interest rate savings account ?

63. What options do I have with the location of my business ?

64. What records should I keep to prove my business use of my automobile ?

65. What should I know about accounting and bookkeeping ?

66. When are business meals and entertainment expenses deductible ?

67. When do I make tax payments on my business?

68. When I buy a business , how is Goodwill determined ?

69. Where can I borrow money to start a business ?

70. Where can I get more information on hiring employees ?

71. Who should be on my board of directors ?

72. Why shouldn't I lease a car instead of buying it for my business, if it gives me a larger deduction than depreciation?

If you need professional help with "Business Start-ups" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.