Choosing the correct tax structure for your business can reduce your tax burden and eliminate asset risk if you face litigation or bankruptcy. It can also minimise tax, whilst adhering to the letter of the law.
Certain tax structures can also provide income for your family members and reduce your total family tax liability. Consequently, proper business structure is an integral component of wealth creation, asset protection, and providing for your loved ones.
dnm group offers business advice, professional accountancy, and expert taxation knowledge. We’re tax agents, chartered accountants, and skilled business advocates who work with you to maximise advantages and protection. We analyse your needs, discuss your short and long-term goals, and evaluate risk.
Various risks affect each tax structure, and it is extremely important you understand them. Tax structure affects how you handle your finances while operating and has financial implications if you decide to sell your business as certain tax structures have access to more tax concessions and discounts when you sell than others.
dnm group will work with you to determine the ideal business structure. We’ll explain the risks, complexity, costs, and advantages involved when operating as a sole trader, partner, company or trust. You need financial expertise to protect you, your assets, and your family and to speed wealth accumulation. Call dnm group for a free consultation.