Choosing the right business entity at the right time
may be a good way to minimize your taxes, reduce creditor liabilities, and offer more flexibility in your succession plan. While the decision shouldn’t be taken lightly and could incur significant costs, reviewing your options should be something you do on a regular basis, similar to performing regular maintenance on your car so it continues to run smoothly. Even seemingly small changes could signify a
structure modification is in order, like an LLC instead of a sole proprietorship or a corporation.