Choice of Entity

As a business owner, you spend hours agonizing over decisions that could impact the future of your business. But, you might not know about one choice that could have a big influence on your business's success: choosing the proper entity.

Choosing an entity structure is a complex process. It can impact business risk, current and future taxes and your ability to pass your wealth on to your family. Rea's business tax team can provide a list of options for you to consider. Each option will have its pros and cons.

Entity Formation

If you're just starting a business, you're probably overwhelmed by the number of choices facing you. Whether to incorporate, and how to do so, can seem like an unimportant decision. But, your entity type will affect how you're taxed and whether it's at the individual or the corporate rate. Depending on your size, location and line of business, choosing the right entity structure can result in significant tax savings.

While entity formation is important, it's also confusing. Deciding if you need one or multiple entities and how to structure them can be overwhelming for new business owners. But, Rea's tax consultants are here to help. We'll help you to determine the most effective entity type and structure for your business.

Entity Review

Choice of entity is important for new businesses, but it's also important for established businesses. If your business has grown or changed since you first chose an entity structure, you may benefit from an entity review. Perhaps your current entity type is outdated. Maybe tax rules have changed in a way such that a new type of entity would put you in a more tax-advantaged position.

Rea's tax consultants will evaluate your current situation and present you with options of new entity structures that could limit your tax liability, mitigate your business risk or help you plan for a business transition. This simple review could result in a big boost to your bottom line and your peace of mind.

Contact our Business Tax Professionals

Rea's tax services team brings together a group of experienced financial professionals who understand the tax needs of businesses. For more information on any of our business tax services, contact our tax professionals or Lesley Mast, CPA, the head of our tax services team.