Dissolving and Starting Businesses: A Business Owner’s Year-End Details

Nov 23, 2020 | Business Start-ups, Entities

Now is the time to start your 2021 preparations. The new year is around the corner, and there are benefits to getting a jump start on your plans.

This includes dissolving a business to make way for the right business priorities. And it also includes forming a new business entity to support your 2021 goals.

Dissolving a Business Provides a Clean Sweep

If you don’t have time to manage the business anymore, your partnership didn’t work out, or perhaps you’ve set your sights on something bigger and better, consider dissolving your business entity this year.

Dissolving a business provides a clean sweep for your accounting, record keeping, and taxes.

Closing a business you no longer need will protect your credit and may save you from paying state taxes on it. Consider it as the 4th quarter activity to wrap up the year!

Starting a New Business Now Provides Tax Advantages

If you plan to start a business in 2021, now is the time to set it up. 

By filing for your new business entity now, you’ll have your new business ready for incoming sales on January 2, 2021. And, you won’t need to file a 2020 tax return if you form a business entity between December 18-31. 

Establishing a business entity sooner rather than later provides twelve months in business next year. To receive payment from clients, you first need the correct business entity and business bank accounts set up. Having the business set up in December offers a time advantage so you can hit the ground running in January!

You deserve a fresh start in the new year! In fact, as a valued customer we would like to give you a special discount rate use coupon code SAVE100 to save $100. 

To dissolve your business or file for a new business, book an appointment with Executive on the Go today. 

Save Your Business Thousands of Dollars

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