Red
Tape Worksheet
Getting Organized
A key to managing government
red tape is to organize and manage the information you will need for
your business. Take time to answer these questions.
1. Have you determined
the type of business organization you will have, i.e., proprietorship,
partnership or corporation?
2. How will the type of
business organization you have affect its tax liability?
3. How will the type of
business organization you have affect your individual tax liability?
4. Have you consulted a
business advisor, attorney or accountant regarding your form of business?
5. How will you keep records
of income and expenses for the business? Will you need assistance
to keep good records?
6. How will you keep track
of employee payroll records for the business? Will you need assistance
to do your employee payroll?
7. Have you identified
any safety, health or environmental issues which may affect your business?
Do you know what the industry standards are, if any, for your type
of business?
8. Do you have an accountant
that you can trust to assist you with tax issues and strategies for
the business?
If you have answered NO
to any of the above questions, take whatever time is necessary to
turn that NO into a confident YES!
