Скачать или смотреть Should you create a new Entity if you expand your Auto Repair Shop?

In this episode of Business by the Numbers, Hunt Demarest, CPA at Paar Melis and Associates, explores the critical considerations when deciding to form a new entity for your auto repair business expansion.

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0:00 introduction
0:52 Promotive
1:54 This is not meant to be legal or accounting advice specific to your shop
3:08 What is your ownership situation?
7:38 Tax Implications
8:55  Is a separate entity going to give me more legal protection?
10:32 From a tax standpoint, there are no benefits to multiple entities
11:37   What is the perceived legal protection and what is the administrative cost associated with that?
13:48 If I’m buying the building I’m renting, does it need a new entity? Or Loaner Cars?
16:16   Renting personal property, like equipment or loaner cars, is different than renting real property
21:19   Should I have a management company for all of my businesses?
24:33 Can you reverse entity decisions?
25:15 Conclusion

#AutoRepairBusiness #BusinessExpansion #EntityFormation #LegalTips #TaxAdvice #OperationalCosts #BusinessStrategy #HuntDemarest #PaarMelis #BusinessByTheNumbers