Entity Management in St. Louis
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PROJECT DETAILS
Overview
A high net worth Physician needs a business plan to create a holding company for several investments and an aircraft for business transportation. Connecting business expenses to multiple income sources can be streamlined with entity management. Rhea & Associates has the ability to develop a business entity strategy and work with a legal team to complete the process.
Challenges
To understand the mechanisms of various taxable entities and how tax returns and liabilities will be reported and affected by implementing a strategy. It is important to create a plan that allows informative tax reporting in a manner consistent with IRS and state tax reporting expectations
Results
- The plan will allow this client to report the various business and investment interests separately for legal and accounting purposes and deduct all common expenses and aircraft costs against all business activities. This also will avoid any issues that may arise from an entity separately reporting losses each year.
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