Business Entity & Registration

It is essential to understand the differences between the different structures before deciding how to incorporate or organize your company Charter. BFS assists businesses in Rockville, MD However, we provide the same services in cities across the country, Though based in Rockville, our state-of-the-art technology allows us to creatively perform services throughout the U.S.

Our business and accountants can explain the differences in the various entity formations during our consultation. Once BFS understands the direction your company is headed, we can offer our suggestions and preparation of documents for the business entity, which we feel to be best for your company. BFS will write the Articles of Incorporation or Articles of Organization for your company for most states, and the District of Columbia. The resident agent for the company has to reside in the state for which it is chartered. Business & Financial Solutions may only serve as resident agent for companies in the state of Maryland. However, we have affiliates in most states that serve as resident agents in those states. Of course you also have the option to serve as resident agent of your own company, provided your company is chartered in the state for which you reside.

After getting the company chartered there are other formalities that have to be met to formalize the company, including obtaining the EIN for various taxing entities, setting up unemployment account numbers sales and use tax numbers, conducting the initial corporate or organizational meeting, and other tasks where BFS can assist. For additional details on our services call (240) 403-0845 or e-mail info@bfswebsite.com.

Business & Financial Plans

Each startup or new business, as well as existing companies, should have a solid business plan, which consist of a section for the financial plan. This plan is essentially a roadmap for the company. It shows how much is needed in startup funds and from where the funds are expected. The plan offers a summary of the company's mission, activities, its goals, projected income, cost of goods, expenses, asset purchases and depreciation, liabilities, and cash flow, to name a few. An explanation of the numbers is common practice in preparation of the business plan.

Needless to say, it is probably best that business plans be prepared by professional accountants. The fact that our Montgomery County firm offers the convenience of tax accountants is an added bonus. Our tax accountants provide the benefit of preparing your company for growth, tax advantages and solid business practices. With these positive attributes in motion, preparation for a solid business venture are in place. In the Montgomery County, Maryland and the Washington DC Metro Area, Business & Financial Solutions has become a popular name in the preparation of business plans. In more recent years our accounting firm, located in Rockville, MD has prepared business plans for companies across the country.

501 (c) 3 Applications

Business & Financial Solutions, Inc has successfully written 501(c)3 applications(Form 1023) for non-profit organizations in multiple states, including Maryland, Virginia, Alabama, Louisiana, Arkansas, Georgia, North Carolina and the District of Columbia, to name a few. The 501 (c) 3 Application, as it is usually referred to by non-profit organizations, is actually filed on Application form 1023 with the Internal Revenue Service. It is this approved application that will qualify the organization as a non-profit entity. Not the state charter. You should not be misguided. Because your charter is setup as a non-profit organization in your state, this does not complete the process in setting up the company for non-profit status. You must be approved by the IRS to qualify for 501 (c) 3 non-profit charitable status. Until your organization gains this status, contributions made to it are not considered tax deductible

To apply for recognition by the IRS for tax exempt status under section 501(c)(3) of the Code, you must use Form 1023. This is the Application for Recognition for Exemption. The IRS uses very specific revenue and expense classifications. The purpose is to determine if your organization will retain its tax-exempt status. So it's imperative that you build your accounting system around these revenue and expense classifications.

For business solutions for your company consider the help of professional business tax accountants and consultants. The accountants and consultants for Business & Financial Solutions take your company seriously. Why spend countless hours and excess funds in preparing documents repetitively.