How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask waqqas memon Your Own Question
waqqas memon
waqqas memon,
Category: Tax
Satisfied Customers: 21
Experience:  Senior Manager at MMBA Accountants
106937463
Type Your Tax Question Here...
waqqas memon is online now

I currently have a limited liability company which i use for

Customer Question

I currently have a limited liability company which i use for my consulting business. I am thinking of creating a new SaaS solution software. I am trying to find out the most tax-effective way of starting this new business. 1. Part of the profit from my current company will be used as seed funding for the new venture. 2. I will have to give equity to other parties at some point (Co-founder, Investors, early employees etc) Please advise on how bet to proceed with this new venture from a business formation standpoint.
JA: Have you talked to a tax professional about this?
Customer: Not sure if a need a tax accountant or an entity formation specialist
JA: Anything else you want the Accountant to know before I connect you?
Customer: Thats about it
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer: replied 1 year ago.
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 1 year ago.
Any idea when i'll get a response?
Expert:  Virtual-mod replied 1 year ago.
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Expert:  waqqas memon replied 1 year ago.
Hi, my name is ***** ***** of the tax experts here. I can also advise in relation to entity formation. It would be best to open a new company and start developing the software in that particular company. You can get some lucrative tax breaks if you structure in a parent/subsidiary arrangment. Let me know if you require further information.