As you start to formalize your idea into an actual business, it is advisable to have a first conversation with an accountant. They will be able to advise you on entity structure, bookkeeping, certain tax laws and planning, and other ways to save money.Similar to doctors, accountants have specializations. We recommend an experienced accountant that works with small businesses and startups. They should be aware of tax incentives and benefits for small business, women and minorities as well as Research and Development credits. If you plan on seeking investments, this is a specialized area where not all accountants have working knowledge. Interview several and decide who seems fair, reasonable and knowledgeable. You won't likely need a massive firm like a Baker Tilly or BDO. A smaller shop may work just fine, but make sure they'll be able to provide the service level you'll expect and need as an early stage business. Make sure they are not charging fees for every question, meeting and email.Ask around to your network, mentors and Madison College for recommendation. Jeff Quinlan, Dorothy Conduah - accounting instructors with great knowledge & resources.

By this time you should have a legal consultation with an attorney � if you have not already had one.Topics to address are: entity type, employee documents, partnership agreements, licenses and other permits, contracts, terms of service for customers. The CPA you consulted with might have some suggested legal questions for you to ask the attorney. Most attorneys will give you a free 30 minute to 45 minute consultation. Most new clients do not pay for the initial consultation, so please ask them about it. You can also negotiate fees. Some will do a package, some will do flat fees, some will hand off template work to a paralegal or Jr attorney. You don't need to pay partner rates for basic legal work.