Accounting & Bookkeeping
QuickBooks Setup & Cleanup
Rebuild a QuickBooks file that has drifted out of reality, or set one up correctly the first time, structured around how your business actually operates.
Advisory & Specialty
New Business Setup
Set the business up correctly on day one: entity choice, registrations, accounting system and the handful of decisions that are painful to reverse later.
Day oneSet up correctly
Entity mathModeled, not guessed
Since 2017A firm specialty
What is new business setup?
New business setup is the process of establishing the legal, tax and accounting foundations of a company before it begins trading: selecting an entity type, registering with the state and the IRS, obtaining an EIN, setting up banking and accounting systems, and confirming which tax registrations apply. In Florida this means registering with the Division of Corporations, obtaining a federal EIN, and registering with the Department of Revenue where sales tax or reemployment tax applies. Kingsley Accounting Group handles this end to end: a specialty of the firm since 2017.
Sound familiar?
These are the situations that bring people to this service most often.
Everyone tells you to form an LLC and nobody explains what that means for tax.
You are not sure which of the registrations actually apply to your business.
You are running everything through a personal account and know that is wrong.
You want the accounting set up once, properly, instead of fixed in two years.
What’s included
Every engagement covers the following as standard. Nothing here is an upsell.
- Entity selection analysis: sole proprietor, LLC, S corp or C corp, with the math
- Florida Division of Corporations registration and registered agent guidance
- Federal EIN application and IRS account setup
- S corporation election (Form 2553) where the analysis supports it
- Florida DOR registrations for sales tax and reemployment tax as applicable
- Accounting system setup: chart of accounts built for your industry from the start
- Banking and payment structure so business and personal never mix
- First-year tax projection with estimated payment dates and amounts
How it works
Model the structure
We work through the realistic first two years and compare entity options on tax, liability, admin cost and how you intend to take money out.
Register everything
State registration, EIN, elections and DOR accounts: filed in the right order, with the deadlines that matter tracked.
Build the systems
Accounting file, chart of accounts, banking structure and document routine, set up so the first year of records is clean.
What you receive
Entity recommendation
A written comparison with the numbers behind it, not just a conclusion.
Registration pack
Every filing, confirmation and account number in one place.
Year-one calendar
Every deadline you now have, with dates and amounts.
Frequently asked questions
They answer different questions. An LLC is a legal entity formed with the state; an S corporation is a federal tax election that an LLC or corporation can make. Most Florida small businesses form an LLC first, then elect S corporation treatment once profit is high enough, commonly around $50,000 to $80,000 above a reasonable salary, to justify the added payroll and filing cost.
The Florida Division of Corporations filing fee is $125 to form an LLC, plus a $138.75 annual report due by May 1 each year. Late annual reports incur a $400 penalty, which is easily the most avoidable cost in Florida business ownership. Registered agent and professional fees are additional.
Yes. For an LLC or corporation, mixing personal and business funds can undermine the liability protection you formed the entity for. It also makes bookkeeping dramatically more expensive and weakens your position if you are ever examined. Open the account before the first transaction.
Before. Entity choice, tax elections and how you plan to pay yourself are all easier to get right than to unwind. A conversation before you file usually costs less than the corrections afterwards.
Related services
Often needed alongside this.
Tax Services
Tax Planning & Strategy
Proactive planning through the year, because by the time the return is being prepared, almost every lever has already been pulled.
Tax Services
Florida Sales & Use Tax
Registration, filing and nexus analysis for Florida sales and use tax, including the surtax rules that catch out almost every new business.
Ready to talk about new business setup?
Book a free 20-minute consultation. No pitch, no obligation: just a straight answer about whether we can help and what it would cost.