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To start up a new tax practice within the United States. Three people coming tog
To start up a new tax practice within the United States. Three people coming together to build a new firm under a LLC (partnership structure). Partner 1- Mr. B 33.34% (age 64 and very experienced), Partner 2-Mr P 33.33% (age 34-13 years of profess. experience and Partner 3-Mr M 33.33%-10 years of experience). We need to build a 10 year time line/plan starting 1/1/2025-12/31/2034 under the Two scenarios-
Scenario 1- All three partners make the initial investment assume $10,000 each. Neither partner brings any existing book of business. How do they build? How do they get clients? How do they grow?
Scenario 2- All three partners make the initial investment assume $10,000 each. Partner Mr. B bring a $900,000 of business. Partners Mr. P and Mr. M bring $50,000 each of business. The new partnership is required to pay 20% for next 5 year to an outsider as commission on the entire 1 million business. How do they build? How do they get clients? How do they grow?
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