Assume that all else is equal, what expected income level of a new business would make one entity better than another? Assume the "all else is equal" includes low variance situations, so that the main focus of which entity you choose would be focused strictly around the potential tax benefits of the new entity. At what expected income levels should the entity change?
Ex:
$1-$100k: entity should be what?
$100k-$300k: entity should be what?
$300k-$1m: entity should be what?
Assume in one scenario, that someone's income outside of the new business is $1, and assume in scenario 2 that the person's income is $1 million. How would this affect your decision?
Interested to hear from tax experts/business people who have some knowledge on the subject.
Should your entity change, and if so, how, and at what levels of expected income?
Ex:
$1-$100k: entity should be what?
$100k-$300k: entity should be what?
$300k-$1m: entity should be what?
Assume in one scenario, that someone's income outside of the new business is $1, and assume in scenario 2 that the person's income is $1 million. How would this affect your decision?
Interested to hear from tax experts/business people who have some knowledge on the subject.
Should your entity change, and if so, how, and at what levels of expected income?
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