Choosing the proper structure for your allied healthcare practice is one of the most important decisions you will make as a business owner—The structure you choose determines the limits of what is possible. Here’s what to consider:
Tax Efficiency: Evaluate how each structure affects your tax obligations and opportunities for strategic tax planning. Mistakes here can lead to unnecessary taxes or missed opportunities for capital gains savings.
Asset Protection: Consider the level of protection each structure provides for your personal and business assets. This isn’t just about shielding your home; as your business grows, you’ll want to ensure its value is equally safeguarded.
Flexibility for Growth: Understand how each structure supports or limits your ability to expand and raise capital. For instance, some structures make bringing in new equity partners easier as your business evolves.
Here are four fundamental business structures:
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In 15 minutes we will run you through our 15 point checklist to diagnose whether you paid too much tax last year.
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