Launching a business is exciting - but it can also feel overwhelming. From choosing the right entity to managing your books and planning for taxes, there’s a lot to juggle. At One Call Financial, we help business owners at every stage - whether you’re just starting out or scaling fast- so you don’t have to figure it all out alone.

Here’s a step-by-step guide to getting your business set up for long-term success.

1. Choose the Right Entity Structure

Your entity affects both your legal protection and tax obligations. Common options include:

• Sole Proprietorship

• LLC

• Partnership

• Corporation (S Corp or C Corp)

Tax structure determines how your profits are reported, how you pay yourself, and how much you pay in taxes. Not sure what’s best for you? Our team can walk you through the pros and cons based on your goals.

2. Form Your Entity & Stay Compliant

Once you’ve chosen a structure, you’ll need to:

• Register with the Secretary of State

• Apply for an EIN

• Secure licenses or permits

• Draft operating agreements or bylaws

• Stay compliant with local, state, and federal rules

We can help with LLC formation and compliance so you start on the right foot.

3. Open a Business Bank Account

Mixing personal and business funds is a recipe for trouble. A dedicated account makes:

• Bookkeeping cleaner

• Audits easier to handle

• Tax prep faster

If you accidentally run a business expense through a personal card, don’t panic—we’ll help sort it out.

4. Track Expenses Without the Stress

You don’t need a shoebox of receipts. Instead:

• Bank and credit card statements usually cover you

• Keep receipts for expenses that look “personal” (Amazon, Costco, etc.)

• Pay extra attention to meals, travel, vehicle, home office, and cash expenses

A simple cloud folder or email archive is enough to stay organized.

5. Use the Right Accounting Software

Your system should match your stage of business:

• QuickBooks Online – best all-around choice

• Excel – fine for very small operations

• Xero – a good alternative

If setup feels intimidating, our bookkeeping services can handle it for you.

6. Plan Ahead for Taxes

Avoid surprises by:

• Setting aside 25–30% of profits for taxes

• Making quarterly estimated payments (April, June, Sept, Jan)

• Considering extensions to allow more planning time

• Using IRS.gov/payments for secure, direct payments

We’ll help you estimate and file so you’re never caught off guard.

7. Paying Yourself Properly

How you take money out depends on your entity:

• Sole proprietors/LLCs: take draws from profits

• Partnerships, S Corps, C Corps: may require payroll or distributions

We’ll help you set up a tax-efficient pay strategy that works with your cash flow.

8. Keep Good Records

Best practices:

• Save receipts and tax docs for 7 years

• Keep all filed tax returns forever

• Digital copies are fine if they’re organized and secure

We can set up a simple system so nothing slips through the cracks.

9. Watch Other Tax Responsibilities

Depending on your business, you may also need to manage:

• Payroll taxes

• Sales tax collection and filing

• Specialized state-level taxes

We’ll review your business and make sure you’re covered.

10. Build Your Advisor Team

A strong business isn’t built alone. In addition to tax and accounting, you may need help with:

• Legal and compliance

• Insurance

• Payroll

• Business lending

• Estate or financial planning

We have trusted partners and can connect you with the right professionals.

You Don’t Have to Do It Alone

At One Call Financial, we’re more than a tax shop—we’re your year-round partner in building a strong financial foundation. Whether you need:

• Monthly bookkeeping

• Tax preparation and planning

• Guidance on entity setup

• Ongoing business advice

We’re here to help you stay organized, reduce stress, and grow with confidence.