In this episode of Ask About Wealth, Paul Overy dives into the different business structures available in Ireland, with a focus on helping current and aspiring business owners make informed decisions. Whether you're a sole trader, part of a partnership, or considering setting up a limited company, understanding the implications of each structure on your wealth and liability is crucial.Key Benefits for Listeners:Risk and Liability: Learn why sole traderships put all your personal assets at risk and how limited companies offer superior protection.Tax Efficiency: Discover how limited companies pay less tax, allowing you to keep more of your earnings and reinvest in your business.Retirement and Entrepreneurial Relief: Understand the significant tax concessions available to owners of limited companies.Episode Highlights:Sole Tradership vs. Limited Company: Explore the pros and cons of each structure, with a focus on risk management and wealth protection.Partnership Pitfalls: Learn about the additional liabilities that come with partnerships, including joint and several responsibility.The Accountant's Role: Why it’s essential to get written advice when considering a switch to a limited company.Paul emphasizes the importance of choosing the right business structure to protect your wealth, reduce personal risk, and optimize tax benefits. By the end of this episode, you'll have a clear understanding of why a limited company might be the best choice for your business.🇮🇪 Helping high earners preserve and grow wealth.📱 Book a 1-1 consultation📖 Read the book✉️ Join the newsletterhttps://linktr.ee/askaboutwealth Hosted on Acast. See acast.com/privacy for more information.

Ver todos los episodios