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Individuals who run a small business or are starting a new business may be fueled by passion and challenged with daunting decisions. One of the first decisions - selecting a business structure - impacts many areas of the business’ finances, including income taxes and payroll requirements.
The landscape for small business owners includes many twists and turns and changing tax laws. There are also many events that occur during the year that can affect a business’ financial and tax situation. Proper planning can help prevent negative consequences – but only so far as small businesses are familiar with business structure and tax benefits AND know how to use them effectively. This is where the expertise of small business services and tax professionals can help prevent mistakes and save money.
Participants in this webinar will learn:
- Pros and cons of business entity structures
- How to avoid common problems faced by closely-held businesses
- How to select a business structure that leverages tax breaks
- How to manage payroll - one of the biggest expenses and risk areas of a small business