Tax planning

It is important when deciding what kind of entity you want to use to examine what the tax ramifications will be at this time and possible in the future. For example you may not want to have the income flow to yourself if next year you will be making several hundred thousand. This could cause some serious tax's that could have been legally avoided by planning in advance. To see if your scenario will work check with your attorney's, accountant's prior to starting your new entity.