We live in a highly litigious world. As you live your life you must keep your guard up. As you grow your wealth you must protect it. For those who don't, predators await, and their attorneys will use every trick in the toolbox to get at your unprotected assets.
Start Your Own Corporation educates you on an action plan to protect your life's gains. Corporate attorney and best-selling author Garrett Sutton clearly explains the all-too-common risks of failing to protect yourself and the strategies for limiting your liability going forward. The information is timely, accessible and applicable to every citizen in every situation.
Garrett Sutton has spent the last 30 years protecting clients' assets and implementing corporate structures to limit liability. This significant experience shines through in a very listenable audiobook on the why-to's and how-to's for achieving asset protection. Start Your Own Corporation teaches how to select between corporations and LLCs and how to use Nevada and Wyoming entities to your maximum advantage. This non-technical and easy-to-understand audiobook also educates on the importance of following corporate formalities, using business tax deductions and building business credit.
Audible Audio Edition
Most Helpful Customer Reviews
I gave it 5 stars because of the way it was written which makes it easy for new entrepreneurs to understand and apply its principles. Now I know how risky it is to start a business as a sole proprietor or in a partnership. The author convinced me that in order to protect one's wealth, it is important to create a corporation. All in all, this book is the perfect complement to Robert Kiyosaki's book, Rich Dad Poor Dad.
Garrett Sutton goes through all the reasons why doing business as a person is a bad idea. If you operate under your own name, you open yourself up to liabilities which can wipe you out financially and emotionally, often through no fault of your own (except for ignorance). You also pay much more in taxes than you should have, based on higher tax rates and less options for legitimate deductions.
He then goes on to describe the different forms of entities you can form to operate under, and clearly explains the pros and cons behind each one. Some are really no different than operating under your own name. Garrett labels these 'bad entities' and steers you clear of them. The remaining 'good entities' are explained, with many examples, so you can find one that fits your particular situation. There is no 'one size fits all', as the examples will make quite clear.
Asset protection, tax benefits, estate planning, succession planning, these are all covered in enough detail...
This is a superb book! Sutton tells us everything we need to know to get started in clear and straightforward language. Because of this book, I decided to start Empress Cindy Books LLC to publish my books on Amazon.
If you're even thinking of starting a business, this is the book to read. And once you decide to start, I highly recommend the companion book, "Run Your Own Corpoation."
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