What is the best small businesses structure?
We have been often asked this question. The answer depends on individual situations and budgets. However, these are the principles I use to set up a business structure and assess if the business is in good shape.
- Do you have protection in place for your personal assets from the risks of running a business?
- Is your structure satisfying your industrial requirements?
- Is your structure satifying shareholders’ agreements?
- Are you able to defer higher income tax rates when business income is high?
- Are you able to flexibly distribute income amongst family members?
- Is your company able to flexibly pay dividends to family members or shareholders?
- Are you able to flexibly pay for your own superannuation contribution as a business owner?
- Have your considered Capital Gain Tax Discount and Small Business Concessions?
- Have you considered tax obligations and benefits when you sell your business?
If you are looking for an experienced accountant who can look after you from the beginning to the end, M1 Accounting is the best choice. We offer a wide range of accounting services and solutions that are specifically geared to meet your unique needs, whether you’re a start-up, SME, or an enterprise. For more information on how we can help you, contact us today!
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