finding the right business structure
Today, if you are starting a new business, a new division of your business, or a joint venture with another business, you have many different options for the entity structure. While you have the flexibility to choose the entity that will best address your legal, tax, management and financial planning concerns, all these choices can make the decision overwhelming. This is especially challenging when the business or new store is just opening, and its future direction and performance are difficult to predict.
Which entity form is best for your business? The answer will depend on a number of factors, including:
• Tax rates
• Use of potential tax losses
• Potential sale of the business
• Fringe benefit programs
• Compensation and payroll tax rates
• Flexibility needs
• Estate planning needs
Making the Best Choice Choosing the right entity type for your new ventures is a big decision. While it is possible to change entity type, this often causes a substantial tax burden. For this reason, you want to be sure to consider entity choice carefully from the outset. Thomas L. Bird and Associates can you help you determine which structure will best help you meet your planning goals.
