This past year, I found myself spending a lot of time explaining to my clients the different business structures available to small business owners. It is a confidence booster to know that my clients trust me with their business, but I was discussing the same details over and over again.
I put together a brochure to share with my clients that were either in business or thinking about starting a business. While doing some research online, I came across this great article on Forbes that I wanted to share with you all. (I am not affiliated in any way with the author)
www.forbes.com
It doesn't bog you down with the details of each structure but gives a great high level understanding of each and the tax implications.
I see it with new tax clients all the time where they were not educated enough when the business was created and now they are paying the consequences. A word of advice, do your research before opening a business, understand the tax consequences, and consult with your network (attorney, CPA, other in similar business, etc.) before you make a final decision.
"In the course of running your own business, there are countless decisions to make on a daily basis — some trivial and some significant. Selecting a business structure is one of the most important decisions that will impact your business today and for years to come." - perfectly said, lots of truth in that paragraph.
#stayFast
I put together a brochure to share with my clients that were either in business or thinking about starting a business. While doing some research online, I came across this great article on Forbes that I wanted to share with you all. (I am not affiliated in any way with the author)
www.forbes.com
It doesn't bog you down with the details of each structure but gives a great high level understanding of each and the tax implications.
I see it with new tax clients all the time where they were not educated enough when the business was created and now they are paying the consequences. A word of advice, do your research before opening a business, understand the tax consequences, and consult with your network (attorney, CPA, other in similar business, etc.) before you make a final decision.
"In the course of running your own business, there are countless decisions to make on a daily basis — some trivial and some significant. Selecting a business structure is one of the most important decisions that will impact your business today and for years to come." - perfectly said, lots of truth in that paragraph.
#stayFast
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