Entity Selection Planning — Critical Tax Issues Concerning Business Organization
We at Albin and Associates Accounting advise entrepreneurs, before beginning a business venture, to consult not only their attorney but also their accountant. While the attorney can advise on how the business should be organized to address legal issues, Albin and Associates Accounting can provide insight into taxation for the various entities. The taxation ramifications are extremely different as applied to a C Corp, an S Corp, an LLC or a sole proprietorship.
There are also significant tax reasons a particular business should not be organized in certain entity structures. Albin and Associates Accounting wants to ensure that our clients are organized not only to protect themselves in the legal environment, but also structured to minimize their tax obligations. We work diligently with our clients’ attorneys on an ongoing basis to ensure that both legal and tax matters are considered when making business decisions.
Individual taxpayers often need professional tax return preparation and sometimes, representation before the Internal Revenue Service regarding a previously filed tax return. Albin and Associates is here to help.
Residing abroad? If you’re a U.S. taxpayer residing overseas, you are still required to file and pay U.S. taxes on all of your worldwide income. If you are searching for a professional to review personal financial decisions with you to help identify alternatives and weigh the tax consequence of each choice, contact us at Albin and Associates.
Business taxpayers can require bookkeeping services and/or compiled financial statement preparation, or assistance in preparing quarterly employers payroll tax reports. Albin and Associates can help with these and the computation of the payroll tax liability. Is your business faced with a difficult decision that will have a material impact on its profitability? We can help sort through the quagmire and bring focus to the important aspects of the decision. Our professional analysis of the problem will make the decision an easier one after the important components are identified and examined. Consult with us; you won’t have to make these decisions alone.