Do you have a business plan and are ready to legitimize your business or company? Incorporating allows you to protect your personal assets and legally forms your business with the government. You will need to have a clear understanding of what you want to get out of your business and how you want it to function. There are many forms of incorporating and many questions that come along with it. (“Do I need to register with the federal government, the state government, local governments? Or all three?”) The team at Timeless will be here to answer every question you have. Such as:

• How to incorporate?
• How will your personal and business taxes change?
• What are the advantages of incorporating a business?
• How will incorporating protect your financial assets?
• Where should your business incorporate?
• Are tax havens legal?
• Should you incorporate or form an LLC?
• What to do after you incorporate?

There are many options and different paths available to you and your potential business partners. The team at Timeless’ would be happy to answer these questions and more to help you along your business journey and towards the path to success.

QuickBooks is the most popular accounting software on the market for businesses large and small. It makes it easier for you to run the backend of your business so you can focus on what’s important: growth. The team at Timeless is skilled in helping you set up and learn QuickBooks in the quickest and most useful way possible. With QuickBooks you’ll be able to seamlessly run your business in one easy to use platform that allows you to:

• Track sales and expenses easily
• Build a company payroll
• Work alongside your accountant
• Pay yourself and your employees
• Accept and send invoices
• Scan receipts
• Organize your finances all in one place

There’s a reason why QuickBooks is so commonly used by new businesses. It has the tools to help you grow and manage your business while you get settled into your new role. From startup financial planning to the syncing of all your assets with 24/7 access, QuickBooks is an essential tool to any business. Timeless understands the importance of QuickBooks to small business, which is why our team is dedicated to introducing you to the platform and showing you the ins and outs of how it can help you, your company and your employees.

As a business owner you should always have an exit strategy planned and ready for whatever the reason. Whether it’s because outside investors are wanting to collect on their return or simply because you love the art of the startup, an exit strategy is something the team at Timeless can help you plan for. The best reason for a strategy is so you can optimize a good situation, rather than try to dig yourself out of a bad one. Don’t think of your exit strategy as a means to get out of trouble, see it as a next step to a successful transition in your career.

The Business Planning and Consulting team at Timeless is well versed in exit strategies and can help you plan yours today. Here are some of the options available to you:

• Merger & Acquisition, also referred to as M&A, this win-win situation is when you save resources and skills by merging with a similar company, or get bought by a larger one.

• Initial Public Offering, or IPO, this method is a touch outdated since the Internet bubble popped in 2000. In this exit strategy, Shareholders are demanding and liability concerns are high.

• Sell to a friendly individual, this is not quite the same as M&A, but it is a great way to “cash out” to pay yourself and investors. It also allows for time off once the sale is completed.

• Make it your cash cow, if your business is stable, pay off your investors, find a trustworthy individual to run your business and use your remaining cash to develop your next great idea. Just remember, cash cow’s need to be fed constantly to stay healthy.

• Liquidation and close, because sometimes enough is enough. While closing up shop isn’t the best method, sometimes you can’t control it. Be sure to create rules up front so you don’t end up sinking as well.