Proper business structure is critical in maximizing asset protection as well as minimizing state and federal taxes. However, small and medium sized closely-held businesses have too often outgrown their original structures or have not adapted to the changing tax laws. As a result, the business or the business owner is risking business or personal assets and incurring unnecessary taxes.
To assist business owners in selecting the best legal entity to conduct a business, several factors are analyzed, such as:
- Current ownership of the business(es)
- Future ownership plans of the ownership
- Laws pertaining to Federal Income Tax
- Federal employment/payroll tax
- State taxes
- Assets held within the business
- States in which business operates
- Duration of business operations
- Current business structure
Our team of experts will review your current structure and recommend a change of entity type and/or additional entity types to maximize asset protection and tax savings.