Where Do I Start?
Where do you start? Great question.
That’s where we come in. First, we’ll help you figure out what type of business or organization you are. We’ll guide through the filing requirements for your business or nonprofit. Ask us questions, lots of questions. We are looking out for you and will guide you through the appropriate process.
Definitions for different kinds of businesses/organizations:
Sole Proprietorship (including a sub-member LLC): A sole proprietorship is the simplest and most common structure chosen to start a business. It is an unincorporated business owned and run by one individual.
LLC/LLP (limited liability company): A business that provides the limited liability protection usually associated with a corporation.
Partnership: A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits and losses of the business.
Corporation: A legal entity organized under state laws that is considered separate from its owners. Ownership is evidenced by shares of stock.
Nonprofit: A nonprofit designation and tax-exempt status are given only to organizations that further religious, scientific, charitable, educational, literary, public safety or cruelty-prevention causes or purposes. Examples of nonprofit organizations include hospitals, universities, national charities, churches, and foundations.
Is Your CPA Looking Out for You?
Smith, Sullivan & Brown, P.C.
80 Flanders Road, Suite 200
Westborough, MA 01581
Member of American Institute of Certified Public Accountants
Massachusetts Society of Certified Public Accountants
Corridor 9/495 Regional Chamber of Commerce
Metrowest Chamber of Commerce
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