support@kherronassociates.com

(901) 370 2894

Small Business Counseling

Small Business Counseling

Starting and managing a small business comes with a range of challenges. Our small business counseling services provide expert guidance to help you structure and grow your business while staying compliant with tax regulations.

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Sole Proprietorship

For self-employed individuals and freelancers, a sole proprietorship is the simplest business structure. We assist with:

  • Business registration and licensing.

  • Understanding tax obligations and deductions.

  • Setting up proper bookkeeping practices.

Partnership

A partnership allows two or more people to share business responsibilities. Our services include:

  • Partnership agreement drafting.

  • Taxation strategies for shared income.

  • Legal and compliance considerations.

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Corporation

Incorporating your business provides liability protection and tax advantages. We guide businesses through:

  • Choosing between C-Corp and S-Corp structures.

  • Filing incorporation documents.

  • Managing corporate tax responsibilities.

Sub Chapter Corporation (S-Corp)

An S-Corp can provide tax benefits for small businesses. Our services include:

  • S-Corp election filing.

  • Payroll and shareholder tax compliance.

  • Distribution and compensation strategies.

Limited Liability Companies (LLC)

LLCs offer flexibility and liability protection. We assist with:

  • LLC formation and registration.

  • Operating agreements and tax compliance.

  • Multi-member and single-member LLC structures.

Limited Liability Partnership (LLP)

An LLP offers liability protection for business partners. We help with:

  • LLP formation and legal documentation.

  • Tax considerations and compliance.

  • Partnership agreement structuring.

Nonprofit Tax Exempt (501(c)3

Setting up a tax-exempt organization requires compliance with IRS regulations. We provide assistance with:

  • Filing for 501(c)(3) tax-exempt status.

  • Compliance with federal and state reporting requirements.

  • Strategic financial planning for non-profits.