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Essential Tax Advice for Entrepreneurs
Tax Planning is essential when you must choose the entity classification. This decision dictates what organizational formalities must be followed, how income is reported and taxes are paid, and numerous other issues.
There are several choices among entity types, and each has its advantages and disadvantages from the ownership, income, liability, and tax perspectives. Make sure that you consult with us before making a final decision.
The form/entity that you choose isn’t permanent. If the circumstances of your business change, you can change the form of your business. For example, you may start your business as a sole proprietorship, but as your business grows, you may become a Limited Liability Company or take on a partner and become a partnership. Later, you may choose to incorporate to protect business creditors from pursuing your personal assets or to attract investors. However, some changes have serious and costly tax consequences so discussing your plans with us beforehand is a sound strategy.
At ETS, we will help you make informed, intelligent tax decisions.
13168 Piedmont Vista Drive
Haymarket, VA 20169
- Tax Services for Individuals and Businesses in Haymarket, Gainesville, Fairfax, Bristow and surrounding Metro areas.September 28, 2016 - 10:21 am
Northern Virginia Tax accountant serving Northern Virginia Metro and the entire United States. Essential Tax Services is a full-service tax accounting firm focused on providing quality tax preparation, tax planning, and accounting services to Haymarket, Gainesville, Bristow, Manassas, Fairfax Virginia and surrounding communities. For over 10 years, Essential Tax Services has provided quality accounting services with a strong dedication to client satisfaction. […]
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