Planning AHeaD

Whenever you embark on a new venture, big or small, or whether you are about your routine business, it is advisable to plan your strategies for those unforeseen events that may entail along the course of your life/business.

This is nothing but a corny piece of advice – a decent fortune cookie will suffice. Yet, it is highly advisable to look into certain key milestones along your planning:

Choose your entity wisely – corporate or in person, partnership or trust, whatever, ensure that the asset in question or the rights to be transferred or mortgaged/redeemed or the service to be rendered, are properly registered and duly reported with all the adequate relevant state agencies.

Choose your asset carefully – differentiate your long-term investments from your short terms’ – your cash flow from your current and prospect incomes.

Cash flow may dictate your business conduct and quite often influence the decision-making process. Preparing ahead will ensure that your real-time performance will take place in a noise-free environment as much as possible. Therefore you will have the right entity set and ready beforehand, which shall be holding the right asset to be merged, or possess with the entire proprietary rights or on the other hand that the foreclosed entity does not hold the intellectual property rights which are the nub of your business.

Moreover, advanced and smart preparation will even help you to avoid hefty tax payments that otherwise burden your performance.