Questions owners ask us.

A partnership puts a full back office behind your business: bookkeeping, payroll, quarterly financial reviews, tax planning, compliance monitoring, CFO guidance, and a dedicated account manager, all for one percentage-based fee.

Individual services are for owners who need one thing done, such as a tax return or an LLC formation, and are billed at our published rates. Compare the two side by side.

Renovo Consulting currently works with more than 100 small businesses across Western Pennsylvania, in a wide range of industries. Our clients include restaurants, escape rooms, auto repair shops, property managers, wineries, contractors, electricians, and more.

Every industry has its own rhythms, from seasonal cash flow to job costing to tips and payroll, and we learn the specifics of yours. The fundamentals stay the same: clean books, accurate payroll, filings done on time, and clear numbers you can make decisions with.

The core of our client base operates in Allegheny, Armstrong, Washington, and Westmoreland Counties in Western Pennsylvania.

We also work remotely and have clients in many other places. Bookkeeping, payroll, and tax work can all be handled online, so distance is rarely an issue.

The fee is a percentage, written into your service agreement along with the exact scope of work. Because it is a percentage, it grows with your business instead of adding fixed costs before you are ready for them.

Partnership fees are billed quarterly unless your agreement says otherwise. Tax return preparation is usually billed separately at our published rates, and your agreement spells out exactly what is included. Your free consultation is the place to talk through what your fee and scope would be.

Every quarter we go through your financials in depth: profitability, cash flow, and your tax position. We walk you through what the numbers mean, point out problems while they are still small, and agree on what to adjust before the next quarter.

For most owners operating as sole proprietors, it is worth considering. A sole proprietor is personally responsible for the business's debts and lawsuits. An LLC generally limits that responsibility to the business itself.

In Pennsylvania, forming an LLC means filing a Certificate of Organization with the Department of State ($125 state fee), getting an EIN, and putting an operating agreement in place. The protection only holds if you keep the business separate in practice, starting with its own bank account. For legal questions about your situation, we refer you to an independent attorney.

It can, for profitable owners who work in the business. An LLC taxed the default way pays self-employment tax (Social Security and Medicare) on nearly all of its net profit. With an S-Corporation election, you pay yourself a reasonable salary through payroll, and profit above that salary can be taken as distributions that are not subject to self-employment tax.

The trade-off is added cost and work: running payroll, filing a separate business return (Form 1120-S), and keeping cleaner books. Whether it pays off depends on your profit, so the numbers should be run before you elect.

Yes. Running all business money through an account in the business's legal name keeps your records clean, makes your tax returns accurate, and supports the liability protection your LLC or corporation is meant to provide. Mixing personal and business money weakens that protection and makes every return and loan application harder.

It depends on how much control you have over the work, not on what you call the person. The IRS looks at behavioral control (whether you direct how the work is done), financial control (who provides the tools, sets the pay, and carries the risk), and the relationship itself (benefits, permanence, and whether the work is central to your business). Misclassifying an employee can mean back payroll taxes and penalties.

For contractors you pay for services, Form 1099-NEC is generally required once your payments to one person reach $2,000 in a year. That threshold applies to payments made in 2026 and later. It was $600 through 2025.

If you are self-employed or own a pass-through business, most likely yes. Business profit has no tax withheld, so the IRS expects payments during the year. Individuals generally must make estimated payments if they expect to owe at least $1,000 for the year after withholding and credits.

You can generally avoid an underpayment penalty by paying, on time, at least 90% of this year's tax or 100% of last year's tax (110% if last year's adjusted gross income was over $150,000). Federal payments are due April 15, June 15, September 15, and January 15. Pennsylvania and many local tax offices have their own estimated payment requirements.

Keep anything that supports a number on your return: bank and card statements, receipts, invoices, payroll records, and records of equipment and property you buy.

The IRS generally says to keep income tax records for 3 years after filing, employment tax records for at least 4 years, and records supporting a bad debt or worthless securities deduction for 7 years. Keep records indefinitely for any year a return was not filed, and keep records for equipment and property for as long as you own it plus the period for the year you sell it. Many owners simply keep business records for 7 years.

Yes. Catch-up work is common, and it is often the first step of a new partnership. We bring your books current, prepare unfiled and prior-year returns, and respond to IRS and Pennsylvania notices. Starting sooner matters, because penalties and interest keep adding up until returns are filed and paid.

Most Pennsylvania businesses now file an annual report with the Department of State: corporations by June 30, LLCs by September 30, and most other entity types by December 31. The fee is $7 for LLCs and business corporations. Starting with the 2027 reports, a business that has not filed within six months after its deadline can be administratively dissolved.

Beyond the annual report come your state and local tax returns and, if you have employees, withholding and unemployment compensation (UC-2) reports. See our compliance calendar.

Renovo Consulting LLC is not a law firm and does not provide legal advice. We prepare documents such as trusts, wills, powers of attorney, deeds, and operating agreements as a document preparation service, based on the information and instructions you provide. When your situation calls for legal advice, we refer you to an independent, licensed attorney.