Tag: entity selection

Business growth is often interpreted as progress. Increasing revenue 📈, expanding teams 👥, and entering new markets 🌎 are generally taken as indicators that a company is moving forward, but unless you are meeting short-term and long term goals, are you successful…or just busier, AND are you still enjoying the work you are doing…AND are you making a difference in the lives of your customers, patients, clients, staff and just…  Read more

Choosing a business entity is often one of the earliest structural decisions an owner makes. At the start, the priority is typically practicality: launching operations quickly, limiting liability, and keeping administrative complexity manageable. In that context, the initial entity choice usually serves its purpose, however… when we consider a business’s entity choice, we discuss both the legal and tax entity AND choose based upon current and future expectations. Recently several…  Read more

It’s December and we are deep into strategic tax planning mode. As I work with small business growth-focused entrepreneurs and medical practitioners  here in New York and  across the country, I see a pattern.  As your business and personal income increase, the shape of your financial life shifts: your taxes shift, your assets shift, and your estate tax exposure shifts. As we work on current tax planning we look at…  Read more

Just the other day I received this email: “Hi Andrea- Hope all is well, quick question. I am taking on some additional contract work 1099, likely 2K/month starting in June. How much additional should I payin to cover tax burden? I assume I will have deductions associated with this additional work from home as well.” It’s a quick question, but never a quick (or easy) answer or process when doing it…  Read more