What's the best way to structure your one person business for tax purposes?
Hi. First time poster on Indie Hackers here. If you're a solo founder and you've already got a decent ARR, what is the best legal entity for your venture from a tax perspective?
Do you draw a taxable salary from your business and then also pay company tax on the business itself?
I am a complete noob about how to set up the most tax efficient entity for a single person business and would love to know more about how you structure it.
You’ll be better off by talking to an accountant in your country. If you get apply a misguided advise from here, you might end up having problems with the IRS entity in your country.
Find yourself a lawyer or accountant who will likely be motivated to help you.
That's good advice, thanks.
I guess it depends from your country of residence