When you start a business, it’s very important to choose the business structure that best suits your needs. Your business structure identifies how you operate as a trading business. Each structure may have an impact on key areas such as tax you’re liable to pay, asset protection and costs to set up. TSK Accountants can help you choose a business structure that can give you tax benefits and protect you financially.
The benefits of having the right business structure:
- Maximise deductions,
- Minimise taxes,
- Protect your personal assets
- Provide flexibility on how to distribute profit
- Help your succession plan
- Reduce business risks
- Maximise your borrowing capacity
The most common types of business structure you can choose:
- Sole trader
- Trust (family trust, unit trust or hybrid trust)
Every structure has advantages and disadvantages, please consult with us
to work out the best structure for you! With a local presence, we’re proud to provide our services to businesses in Hoppers Crossing and surrounding suburbs such as Tarneit, Truganina, Williams Landing, Point Cook, Werribee, Wyndham Vale, and Manor Lakes. We can also assist clients across greater Melbourne with all their accounting needs.