
The legal business entity you choose when you start your business has huge implications for your taxes. Whether you are just starting or you’ve been in business for awhile, Potter & LaMarca will help you understand what these implications are and choose the best option for you. At Potter & LaMarca, we operate under the motto that taxes aren’t just something you think about in April and then forget about for a year. Taxes are an integral part of your business’ financial health and should be strategically planned for all year round.
If you’re just starting your business, we will get to know you, your team, your goals and advise you on the best way to restructure your business entity for the long term! Your legal structure can impact your taxes, as we’ve said, but it also plays a role in determining your liability down the line. So it is important to choose the right one to protect not only your business but your family, your home, and your other personal assets.
However, if you’ve been in business for awhile it might benefit you to analyze the way your current business entity is structured to see if there is another legal structurization that will be more beneficial for you. You may be exposed to unnecessary liability or paying taxes that you could avoid. There could be any number of potentially lethal things going on in your business that you could prevent or avoid with a restructuring.
Potter & LaMarca’s team of business and tax experts will allow you to structure your business in a way that supports your goals, protects what you love while helping you grow your business. We will
- Decide the best legal entity for your new business
- Evaluate the current structuring of your existing business entity
- Walk you through the tax implications of the structure we recommend
- Walk you through the liability aspect of the structure we recommend
- Always base our decision on your goals and your situation, putting you and your business first