Entity structuring simply stated, is the most effective and powerful lawsuit deterrent and tax saving strategy ever developed. It’s the use of things like corporations, LLCs, business entities, and business structures to dramatically reduce your taxes and bullet proof your assets.
Let me tell you what I mean by tax savings. We’re not talking about saving you a couple of bucks. We’re talking about strategies that can help you save 40% - 70% on your taxes - 100% legally. Think about what you paid in taxes last year. If you double your income next year how much tax are you going to pay this coming year as a result? Double right? We’re talking about slashing that amount in half legally, morally, ethically, right out of the book. We’re going to teach you how to read out of a different book.
Bullet proof your assets means that you’ll be structured in such a way that the bad guys will be worse off if they sue you and win than if they had left you alone in the first place.
Have you been involved in a lawsuit yet? Did anyone win that lawsuit? In my opinion neither the defendant nor the plaintiff win the lawsuit because either you were the defendant and you were horribly wronged and have had to fight to defend what was rightfully yours in the first place, or you were the plaintiff and someone injured you and you have had to accept cash for an injury that you’ll probably have to live with for the rest of your life.
“The only way to win a lawsuit in my book is to avoid it all together.”
What is the Smartest Way to Pay for My Fun?
In his best selling book, "Rich Dad, Poor Dad", Robert Kiyosaki warns people against the dangers of buying what he calls "doodads" - you know, junk, spur of the moment items. Those things that you didn't know existed until you read about them in an in-flight shopping catalogue and now that you know about them: you just can't live with out one.
The Average American Gives Up 42% to 55% in Taxes
In order to accelerate your movement along the wealth building curve, you absolutely MUST have your own business. I don't care if its real estate investing, a sales company or a service business. But you must own it yourself or with a partner. Why, because the tax laws are tilted in favor of people who are in business for themselves. Let's take a closer look. If you are not in business for yourself, you are earning your money as a W-2 employee. Unfortunately, this is the highest tax form of income that there is.
Keep it Simple and Strategic
There Are Several Keys To Handling Your Business Record Keeping... * The first is keeping complete and accurate records. * The second is separating the business from your personal finances. Let's start with this part first..
