Getting your business structure right from inception is very important. You can have a sole trader, partnership, company, or trust structure. Your business structure impacts your taxes, asset protection, personal liabilities, and your reporting obligations.
If you are already operating under a particular structure, you may still be able to change the structure for asset protection and to align with growth plans or an exit strategy.
A business structure should be chosen with your business in mind and what you require in relation to asset protection, income distribution, tax management, and limiting liability.
We can help you choose the right structure for new business or even help you restructure your existing business and set you up for success.
Get in touch with Bibek Nepal, CPA to discuss your situation and how we can help you to plan and minimise your tax.
Disclaimer: This article is provided as general information only and does not consider your specific situation, objectives, or needs. It does not represent accounting or tax advice upon which any person may act. Implementation and suitability require a detailed analysis of your specific circumstances. Before taking any action, consider your own circumstances and seek professional advice.