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Thinking of starting a business? Here are critical items you should address:

Establish a Banking Relationship

• Financing needs
• Operating Account Set up
• Check deposit system
• Credit card processing access

Get Legal

• File EIN application for business identification number
• Select choice of entity and file appropriate federal and state forms
• Set up state Unemployment account
• Create state specific online account for future tax filings (sales, excise)
• Complete a Sales & Use Tax exemption Certificate if applicable
• Review your Real Estate Lease
• Create an HR handbook
• Don’t forget your personal items such as updating Wills, Power of Attorney, and Health Care Proxy

Get fully insured – common/ needed policies include:

• Building
• Employee practices
• Liability
• Malpractice
• Workers Comp
• Business interruption
• Cyber
• Life
• Disability
• Health

Hire a Payroll company

• Make sure your payroll service will file and remit all applicable payroll taxes on your behalf as well as quarterly reports

Set up your Bookkeeping

• Depending on your industry we are still supporters of QuickBooks
• Tailor your Chart of Accounts to the business’s specific needs

Other matters

• Establish new contracts with Vendors