Remove Bankruptcy Remove CPA Remove Distribution
article thumbnail

Business Prenup: What To Do Before You Start A Company With A Partner

YoungUpstarts

A CPA provides input on tax structure and metrics, and assists with due diligence related to your industry. If you stop working for the company, how will that impact your voting and distribution rights? Bankruptcy? Think about your employee and ownership hats. Must you wear both simultaneously? Is there litigation history?

Partner 208
article thumbnail

Tips On Starting A Business Without Sabotaging Your Personal Finances

YoungUpstarts

by Tim Steffen , CPA/PFS, CFP ® , CPWA ® , Director of Financial Planning for Baird. A business failure can become dicey when an entrepreneur takes on too much debt, taps personal or family savings, and later needs to declare bankruptcy.” If you fail to do so, it will be treated as a distribution from your account and will be taxed.

Finance 100