Opening a business in Tennessee can be a great idea. Along with only a few other states, Tennessee does not levy a personal income tax. Therefore, the income that flows from your business will not be taxed by the state, enabling more of these funds to be used for your business start-up costs. Tennessee actually has one of the most competitive tax burdens in the entire country. Although sales tax is relatively high, the mixture of no state income tax and no state property tax helps keep the overall burden at a low level.
But you will still run into risks opening a business in Tennessee. Whether you are planning to start your own business, or you have just opened up, you are going to discover that there is more to a successful business than hard work. Your hard work might keep it going, but in order to keep it going at a higher level, you will need to make some key decisions. One decision is the hiring of a CPA. I believe that hiring a CPA is a must for any business that strives to be successful. Because of this importance, I stay committed and ready to serve those who decide to launch their business. I can help you throughout the business process to make sure everything goes correctly.
This is just a brief overview of what I can do for your business:
- Paperwork and filings to get your business registered with the Internal Revenue Service, the county clerk, the TN Secretary of State, and the TN Department of Revenue (you will be ready to start your business in just a few days)
- Inputting your information into Quickbooks each month, and showing you whichever reports you might wish to see, most notably the balance sheet and income statement
- Filing of all your taxes and communications with all governmental entities, as well as helping you understand all the different taxes and laws that you are faced with
- Other financial needs that are unique to your business
By covering these four items, I can take care of all your financial needs and obligations so you won’t have to. I will also be sure to provide you with expertise and top-quality service. Please visit the Contact Page to get in touch with me and learn more about opening a business in Tennessee.
Paying Yourself as a Small Business Owner
