New Business Organization
SCHEDULE A CONSULTATIONWe’ll Advise You on Setting Up Your New Business Organization
1) STE specializes in new business organization. We assist in setting up new companies. From advice to problem solving to implementation, we are here to help in your business venture.
2) Business Organization Consultations
3) New Business Organization & Setup (Corporation, Partnership, LLC) as quickly as 48 hours Series LLC (Organizing requires the filing of proper documents, with an appropriate agency along with fees paid. We will complete this process for you and have your business officially organized in the state of Illinois within 48 hours*.)
4) Federal, State, County & City Registrations
5) Corporate Book & Seal
6) Bank & Insurance Referrals
7) Complimentary Informational Business Seminars
Types of Entities
Sole proprietorship
A sole proprietorship is an unincorporated business that is owned by one individual. It is the simplest form of business organization. A sole proprietorship is not a legal entity separate and apart from its owner. The owner has unlimited liability with regard to the sole proprietorship. This means that the owner’s personal assets are exposed without limitation to any and all liabilities related to the business. Income or loss of the business is reported by taxpayer on Schedule C of the owner’s form 1040. Net income is subject to self employment tax
Partnership
A partnership is an unincorporated business owned by at least 2 individuals. Owners have unlimited liability with regard to the partnership. That means that generally owners can be held liable for the partnerships debts or liabilities unless they are limited partners. Partnership files a separate return on form 1065. A Partnership is a “pass thru” entity. That means that a partnership generally does not pay federal tax. Income or loss is “passed thru” to partners and is taxed on each personal tax return – subject to 15.3% self employment tax.
Corporation
A corporation is a legal entity separate and distinct from its owners- shareholders. Shares of stock are evidence of ownership of a corporation owners’. Personal assets are generally protected from creditors. A Corporation files separate return on form-1120. Corporate income is not subject to Self Employment tax. Income is taxed to the corporation first and then income is distributed to shareholders in the form of dividents it is taxed a second time on the shareholders individual tax return. It’s commonly known as “double taxation” Eligible corporations can avoid double taxation by electing to be treated as an S corporation.
Corporation S
Corporation S has the same legal advantages as a regular Corporation. Corporation S reports income or loss on separate return on form 1120S. An S corporation is generally exempt from federal tax. This means that profits and losses generated by the corporation are passed thru to shareholders and added/reported on their personal tax returns.
Limited liability Company
A limited liability company (LLC) is a legal entity formed under state law. Owners (called members) of the LLC are not personally liable for its debts An LLC may be classified for federal income tax purposes as a partnership, a “C” corporation, “S” corporation, or an entity disregarded for tax purposes.
Series LLC
We pride ourself on our exceptional expertise in this new, complex but rewarding form of entity. Since it has been approved in the State of Illinois in 2006 we have succesfuly organized businesses as these unique entities. The Series LLC is generally a means to protect multiple assets in the same manner as creating an LLC, but with paying lower administrative costs and government fees required for each. After an LLC is established, you will be able to create separated protected “cells”, or series within the existing LLC. The Series LLC has many uses: ownership of multiple properties, businesses with numerous divisions in which production fluctuates, or as an alternative to a traditional business merger between two companies. In this case, a separate series (or cell) can be created wherein the two companies contribute their ownership interests as agreed upon among them.
Talk to one of our Accountants Today
OUR SERVICES
Accounting
- Statuary Accounts
- Management Accounts
- Bookkeeping
- Business Plan
Tax
- Tax Investigation
- Capitol Gains Tax
- Tax Advisory
- Corporation Tax
Consulting
- Registered Office Address
- Company Formation
- Company Secretarial
- Legal Helpline
QuickBooks/ Bookkeeping Services
All of the financial information and data for your business should be organized and in one place so it is easy to access. With our bookkeeping services, we will organize and manage your financial information within the QuickBooks software so you can easily access it at any time. While we manage your financial matters on a daily and monthly basis, you will be in control as we will keep you updated and ensure you can access and monitor your finances. If you are applying for a loan, doing your taxes, or budgeting, having quick access to your financial information is important. We can assist large businesses and provide small business bookkeeping.Advisory Services
Our accountants can take on an advisory role with your company through our business consulting services. We will work with you to understand your financial goals and help you make the right decisions to reach your goals and help your business grow and become more profitable. Our business advisory services include advisement for investments, taxes, payroll, bookkeeping, administration, and more.Estate Planning
It is important to manage your estate to help protect its value and ensure that your assets are distributed properly between your beneficiaries. Our accountants can assist with your estate planning, including managing the taxes to preserve its value and ensuring that your assets are distributed according to your wishes. Our estate accountants will identify ways to protect your estate from inflation and taxes and minimize what you are paying in taxes to maximize its value.Sales Tax / Nexus
Sales tax rates and laws are decided locally and differ between states and cities. This can make sales and use tax difficult to manage for businesses, especially those that operate in multiple cities and states. Our certified public accountants can help manage your sales and use taxes by ensuring that you are in compliance with applicable sales tax laws and identifying opportunities for refunds and exemptions. We have a thorough knowledge of sales tax laws and we can even help businesses that operate in multiple states with filing their taxes. Using Nexus tax analysis, we can help multi-state businesses stay in compliance with all applicable tax laws.Payroll Services
We provide payroll services to small businesses and international businesses that operate in the U.S. Our accountants will streamline your payroll process and manage the tax withholdings and benefit deductions from employee paychecks. We can also file the tax returns for your business that account for the tax withholdings.Call the CPAs of STE Corporation
Contact our CPA firm if you want to work with our accountants to help manage the finances for your business in Park Ridge, IL. You can call STE Corporation at (815) 836-0100 to talk to our professionals or schedule a free consultation.FREQUENTLY ASKED QUESTIONS
WHAT OUR CLIENTS SAY ABOUT US
“Everyone at STE has been amazing. As a small business owner it is essential to have people on your team that are experts in all areas. When it comes to finance and taxes Jim and the team at STE fill that need. Thanks for being great at what you do and always be there!”
“STE has been handling our personal, business accounting, and payroll for years. They are knowledgeable, easy to reach, and very welcoming. Would definitely recommend them.”
“I have had nothing but pleasant experiences at STE. They are knowledgeable and provide great service.”
“We have used STE Corporation for our payroll and tax service needs over the past 3+ years and extremely pleased with the partnership we have created.”
“My husband has operated his painting business since 2004, first as a sole proprietorship and later as an S corporation. STE has been instrumental in helping him grow his business and remain in compliance. I cannot thank Mike, Marybeth, Jim, and Lisa enough for helping him get organized and stay that way. They have truly been the business office he needed in order to focus on the part of his business he enjoys – painting and customer service Their professional staff literally have never let him down – payroll, state taxes, federal taxes, consultation, ledger reconciliation, profit and loss sheets, and probably lots of things I do not even know about! Hiring this firm was the best decision he could have made. He looks forward to visiting the office, everyone makes him feel like family. I appreciate their professionalism and efficiency. Thank you STE!”
OUR SERVICES
Accounting
- Statuary Accounts
- Management Accounts
- Bookkeeping
- Business Plan
Tax
- Tax Investigation
- Capitol Gains Tax
- Tax Advisory
- Corporation Tax
Consulting
- Registered Office Address
- Company Formation
- Company Secretarial
- Legal Helpline