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Taxes are a fact of life for any (successful) ongoing business. However, this aspect of financial (and cash flow) management is like most others in the new venture environment. It can be managed—and in a manner of speaking—optimized. This article addresses the issues new entrepreneurs need to consider as they formulate their business plans and proceed with the launching of their businesses.

Legal Forms of Businesses

First, and possibly most obvious, the specific “legal form” of business the new venture takes will have a direct and significant impact on the tax liability the new venture incurs, if, in fact, it is profitable. The specific legal forms of business can take many forms, and hybrids of those “tried and true” categories are appearing with greater frequency, which makes ...

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