“Asset Protection Power Tools of the Rich”

Asset protection power tools of the rich are LLP and LLC structured businesses. These are the only two asset protection tools to use!

Tip: An S-corp gives you almost no asset protection. Your S-corp can be taken over including your merchant accounts, stocks, etc. C-corps also don’t provide asset protection.

Charging Order:
A charging order prevents somebody who sues you from getting anything inside of your business structure if it is properly set up. The business structure should be setup to protect your assets.

Engage in multiple corporation strategies. This is when you set up another company to manage your LLC. You can use this corporation as a way to protect your money. Have this corporation charge your LLC for running your LLC. Therefore, when your LLC is sued there is little or no money left in the LLC because your other corporation has the money now.

Shifting your money in this manner helps prevent people from suing you. The people who want to sue you will end up paying money just to sue you. Their lawyer will tell them that they can sue you and win, but won’t see any money. They won’t see any money because you don’t have any money left in the LLC that they are suing. Not only will the person who wants to sue you not get any of your money, but they will have to pay their attorney for working the lawsuit. So they are paying to sue you! This is a powerful deterrent against lawsuits.

Basically, there are two steps to financial security for your business:
Step #1 Separate your personal assets from your business and investments.
Step #2 Separate your business and investments from each other.

Critical Tip: You have to complete BOTH steps, otherwise you are not protected.

Critical Tip: If you accomplish these steps in advance of a potential lawsuit then it is called tax planning and entity structuring. If you accomplish these steps after a lawsuit occurs then it is called fraud!

If you have multiple streams of income then you should structure your business as multiple entities. For example, you may want to have separate entities for your books, seminars, and products.

Follow these basic guidelines to get started on structuring your business. You will be glad you did when you deter lawsuits and protect your assets.

Warmest regards,

Matt Bacak

P.S. If you haven't signed up for my
Powerful Promoting Tips yet, then you
are really missing out, go here:

http://www.promotingtips.com

P.P.S. Do you want to be updated on the new things I'm doing
to market my companies? Then you need to grab a copy of my
`Internet Marketing Dirt'. It's now better than ever before!

Go here and get a copy: www.internetmarketingdirt.com

“Don’t Let this Happen to your Business!”

What are the effects of not having a properly structured business? Your assets are at significant risk! Lawsuits can go after your property, your bank accounts, your business, etc. You and your business are extremely vulnerable. Your business could be foreclosed and your bank account drained dry.

Never hold real estate or businesses in your name. It doesn’t matter what type of business you have. You could have a software company or a deli, it doesn’t matter. Let me repeat – never have a business in your own name.

What do you have to do to start your “own” business? All you have to have is a profit motive. You have to have the intent to make a profit. The tax codes and laws favor people that run their own business. If you have your own business then you can slash your taxes.

The minute you make money your asset columns grow. If you are in business then your next move is to make money again. If you want to build lasting wealth then you can’t have a one shot deal. You have to have the desire to continually make money.

People won’t sue you if you don’t have money. People will wait until you make money. Once they see that you have enough money then they will sue you. So it’s great to make more money, but with more money comes a higher potential to be sued. However, you can thwart these lawsuits if you have the right corporate structuring knowledge.

Think about what you want to do with the money you earn. Do you want to travel? Do you want to buy a boat? Does the way you run your business favor these activities? Don’t forget about taxes. Every week taxes chip away at the money you could use for these activities. If you are employed by a corporation or other business then taxes are automatically taken out of your paycheck. These continual taxes make it more difficult to build lasting wealth.

Also don’t forget about lawsuits. Lawsuits can hit you without notice and grab huge chunks of your money. Your dream vacation can be down the tubes in the blink of an eye. Basically, taxes and lawsuits can make it hard to get ahead financially.

The bottom line is to not have businesses in your own name. Learn the business structure of successful entrepreneurs. They have learned how to protect their assets and run a thriving business.

Warmest regards,

Matt Bacak

P.S. If you haven't signed up for my
Powerful Promoting Tips yet, then you
are really missing out, go here:

http://www.promotingtips.com

P.P.S. Do you want to be updated on the new things I'm doing
to market my companies? Then you need to grab a copy of my
`Internet Marketing Dirt'. It's now better than ever before!

Go here and get a copy: www.internetmarketingdirt.com