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Business Structures

What are Business Structures?

Business structures are the legal structures or form used by businesses and investors to help them achieve their objectives. The 4 most common and well know business structures are sole traders, partnerships, trusts and companies. These structures are really only a small sample of the business structures that are available. The TaxFitness business structures database, for example, includes over 40 different business structures.

Why is Choosing the Right Business Structure Important?

Choosing the correct business structure is important as the business structure can determine:

  • Your potential personal liability 
  • The licenses you require 
  • How much tax you pay
  • Whether you're considered an employee, or the owner of the business 
  • How much control you have over the business 
  • Ongoing costs and volume of paper work for your business.

Business Structures Database

The business structures database explains both the common, and unusual, business structures that are available to business owners and investors. It also explains:

  • What the structure is
  • How the structure works
  • The pros of the structure
  • The cons of the structure
  • How to establish and implement the structure

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