hand holding red umbrella over cartoon drawings of workers (Photo: Feodora/stock.adobe.com)

You don’t sell in a flea market environment.  Neither does your client.  If you did, you and the business would be considered the same entity.  If you sold someone a used cappuccino machine and it exploded, they would come after you personally in court.  For this reason, people in business take deliberate steps to separate their personal finances from their business activities as a means of personal protection.  What structures do they use?

First, you must understand the government has a keen interest in being your silent partner.  You take the risks and they take a share of the profits your business produces.  They give you plenty of opportunity to recycle money growing the business, but they expect their share of your profits.  This keeps accountants in business.  All businesses need good accountants.

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