[EP 104] Top Tips in Business structuring for dentists and medical professionals, with Stephen Guthrie Part 1
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Today, we are talking with Stephen Guthrie, Director of Business Services and Taxation at Prosperity Advisers, Sydney. Stephen provides his top tips in business structuring for dentists and medical professionals and together we discuss the best investment structures for businesses. We also look at the difference between different types of business structures, and between family trusts and unit trusts.
* Speak to a lawyer about an issue you are facing now
* Leave us a message with a legal issue that you want us to cover on the podcast
* Why is it important to understand your business structure?
* A general approach for clients to work out structures
* Family trusts and Unit trusts
* How to prepare clients with an understanding that their plans for the future may change
* Plan with the end in mind
* Factors to keep in mind in relation to structuring
* How revenue affects decisions about company structure
Welcome to the first half of our 2 part series, covering the top tips in business structuring for dentists and medical professionals. In this episode, we talk with Stephen Guthrie, Director of Business Services and Taxation at Prosperity Advisers Sydney, who manages a team of professionals delivering business advisory, taxation, corporate assurance and financial services.
We look at the importance of understanding business structures and discuss the differences in Family and Unit trusts. We also discuss the general approach used when dealing with clients when developing an approach to business structuring that builds in changes in future plans.
Note: This has been automatically transcribed so will be full of errors! We are not providing it to you as a word-perfect version of the podcast but just as an easy way to provide you with a different way to be able to see or scan what kind of information that might be relevant to you if you are the kind of person that likes a transcript.
Joanna: Hi, it's Joanna Oakey here and welcome back to Talking Law, a podcast proudly brought to you by a commercial legal practice Aspect Legal. Now in today's episode, we're talking about the top tips in business structuring for dentists and medical professionals with Stephen Guthrie. Now business structuring I know, hold the phone not necessarily the most exciting topic on everyone's lips. But we think it's so exciting. We're not just doing one show in this series, but we are doing two. That's right, we've got a two part series in the top tips in business structuring for dentists and medical professionals.
Now, obviously by the title, this is going to be particularly interest if you have a practice that is engaged in dentistry or medicine or related specializations, but this episode will also be just as relevant for you to listen to. If you have ever wondered about your business structure and wondered what the hell is the difference between a trust,