1. Not all business structures pay the same amount of taxes on profits.
2. Not all business structures can spend pre-tax dollars for the executive’s benefit.
3. Some business structures do not pass liability to the owners or executives.
4. Finally, not all entities are models for failure.
QUESTION: What should you do if you are already or are going to be successful?
What is your answer?
You’re really not sure, are you?
OUR ANSWER IS get the advice that the 84% don’t need!! Get advice from those that are using and enjoying the model for success!!!
As we have already discovered, a successful business owner will most certainly need to do things beyond what a strip-mall accountant and a strip-mall attorney will have the 84% do. In fact, we already know that most of the professional suggestions will help you more if you fail– than if you succeed.
Taxes can be absolutely deadly to any business and don’t be mislead by a couple of good years. It’s the number one killer of independent businesses.
“To spend yourself into a lower tax bracket each year by taking business profits and purchasing computers, equipment, supplies and other business sundries, that you really don’t need, is NOT good business practice. In fact, it is suicide!
”Where do you think ‘cash flow problems’ originate? You MUST be able to save money and retain those savings each and every year. That’s how the big companies became big. Do not underestimate the destructiveness of taxes. They are deadly.” ~ Daniel L Earl author of ‘The High Road’
Is the wrong advice costly? It can be. Failure is not cheap.
Does effective advice cost money? Of course.
Is effective advice worth it? You betcha!!!