Your Business

Regardless of the size of your business, if you're a sole proprietor or a simple partnership you and your business are legally the one and the same. This means if your business ever becomes liable for damages or excessive taxes, you could be held personally liable as well… putting all your assets at risk. But it doesn't have to be that way.

By simply incorporating the proper structures around your business and personal assets, the courts and the IRS will recognize your business as a separate entity from you… it becomes its own legal "being." There are many different types of entities and combinations to choose from…

Business Entity Types

Sub-chapter "S" Corporations

Split how you take money out of the company to minimize your taxes. S-Corps offer tax advantages while maintaining corporate protection for your personal assets.

"C" Corporations

Taxed separately on their profits, not their income… so if there are no profits, there are no taxes (You STILL need to file tax returns). Their structure allows you to get many benefits paid for yourself and your family literally tax free.

Limited Partnerships

A relatively simple formation popular with advantages for groups of partners. Offers flexibility in management structure and profit distribution.

Limited Liability Companies (LLC)

Real estate investors like LLC's because they give the investors protection in the event a tenant or buyer decides to sue. If the tenant or buyer wins, the only thing available to pay the judgment is whatever is in the LLC. The investors' other assets are safe.

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Episode 006

Latest Podcast Episode

Doesn't My LLC Protect Me from Everything – Why Insurance?

Discover the critical gaps in LLC protection and why business insurance is still essential for complete asset protection. Learn what your LLC can't shield you from.

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