Important Tips and Traps of Small Business Structuring
2nd Annual Small Business Structuring and Restructuring Conference
Legalwise
Advising clients on business structuring requires the consideration, and assessment, of the factors that should be considered when a client is about to commence the operation of a business.
The tax tail should not ‘wag the dog’ so to speak when considering relevant matters in business structuring. Striking a balance between relevant considerations in advising a client about appropriate business structuring, including commercial needs, asset protection and tax considerations, is vitally important.
The purpose of this paper is to highlight some of the approaches and considerations that should be applied in advising clients.
Key matters to be considered at an initial meeting with a client requiring advice on business structuring including matters of which the adviser should be cognisant during the preliminary stages of any engagement will be addressed.
As part of this discussion an explanation of the various aspects of asset protection will be focused on and the potential outcomes under particular structures will be explored.
Finally, case studies on various business structures will be discussed.
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