TALKING TO YOUR ACCOUNTANT AND LAWYER ABOUT GETTING THE RIGHT BUSINESS STRUCTURE
What is the right legal structure for your small business you ask? I answer it in a lawyerly fashion by saying it depends.
It depends on the stage of your business development, the business activities you undertake, your financial position, the inherent nature of your business, your tax position, how much exposure to risk you wish to have and how well you can sleep at night.
Therefore the options can range from sole trader through to partnership to company or even a trust.
Regardless it pays to consult with your lawyer and accountant to ensure the right structure is in place for the right circumstances at the right time.