Many people who find themselves unemployed, underemployed or just tired of their job and do not realize they could own their own business. The main reasons that these would-be business owners are not self-employed are: fear, not knowing how to do it, have grown accustomed to someone else providing their paycheck or outside pressure from family. Fortunately The Personal CFO, Inc. offers a range of services and coaching to help individuals go out on their own. These include:
1. Forming the entity and choosing the correct one (sole proprietorship or dba, corporation, s-corporation, LLC
2. Illuminating the advantages/disadvantages of various entity choices and tax consequences.
3. Using IRA or 401k money to start a business
4. Creating a business plan to determine viability or raise money
5. Creating a marketing plan
6. Developing a web presence and search engine presence
7. Creating a brand including artwork, logos, stationary
8. Filing the documents with the State of Texas
9. Obtaining an IRS tax I.D. number
10. Opening bank accounts in the name of the new business
11. Creating a separate credit file for the business, i.e., Dunn and Bradstreet and Equifax.
12. Creating a bookkeeping system
13. Managing the different exposures and requirements of owning a business (employee liability, product liability, professional liability, filing franchise tax returns)
David Disraeli has thirty years of experience in financial planning, business planning and formation of numerous entities. Ongoing coaching is also available. Fees are based on $150/hr with each project or component quoted ahead of time. Payment arrangements are available. Call 512-464-1110 for more information.