Business Structuring - What You Ought to Know

Protecting Your Assets

Today’s world is an environment filled with lawsuits, taxes, catastrophic illness, divorce, accidents and financial risks that can easily wipe out anyone’s assets. No matter how safe you feel, you can never be certain that the wealth you have built up over a lifetime won’t suddenly be taken from you tomorrow.

Whatever your occupation or lifestyle, we all sail close to financial disaster and potential liability. Unfortunately for many individuals, focusing on shielding assets from disaster is an after thought to making money, doing business deals, or saving taxes. Unless you can predict exactly when you will be sued, asset protection is a real and very serious necessity that must be addressed.

One of the biggest decisions you can make is to go into business for yourself. Whether you are opening an ice cream parlor, starting an internet based business, selling insurance, forming a down line, or investing in real estate, bottom line – you are a business owner.

Having a properly formed entity to serve as the foundation of your wealth building enterprise is essential. Without it, you will pay more in taxes and expose your hard-earned assets to creditor attacks, the courts, the IRS, realistically anyone bent on serving you with a frivolous lawsuit. Through time and experience what most people come to know, is that they were always the one working so much harder to achieve their wealth building goals or worse they never reached them at all. The truth is it doesn’t have to be that way.

So what stops a lot of people from moving forward in the most tax-efficient, lawsuit-preventative financially tested, safe and secure way? Confusion! Should I form a corporation or an LLC? How about an S Corp? How many entities should I form? That’s why after so many years, working with so many clients, we have discovered the true advantages and disadvantages of each form of business ownership. We also know the importance of sharing this information with you today.

Of course, this still does not answer the question about which entity would work best for your particular situation. There is no silver bullet, no one perfect strategy that works for everyone. There is not one tool one solution, one program that solves it all. Anyone telling you there is by selling “it” to you, is misleading and would appear to have only their best interest at heart – instead of yours. In fact, the only way anyone can help you find the fastest path you can take to achieve your own personal financial freedom is by listening to you. Finding out what it is you are trying to accomplish? What business are you in? What state are you doing it in? Do you have partners? And so on. Only than can specific actions steps be developed.

Now you could certainly take this gift of information we have provided and decide to set up your own entity because you think it’s going to cost you less. Of course, it won’t. You won’t have a clear idea of how this entity will work for you. You won’t have a thorough understanding of everything you need to do the take advantage of all the tax benefits and assets protection strategies we use. You will have no support to help you keep your company in good standing. You will lose the benefit of working with a knowledgeable team of individuals who continually seek out new alliances, products, services, information and untapped resources across the nation. The fact is you build up a nice set of assets or build a business quickly, but the mindset and efforts to build and acquire is totally different than the mindset and efforts to keep, maintain and protect your assets from The Flaming Arrows of Challenge. Let me ask you. Who are you going to call to get your questions answered? Your Lawyer? Your CPA? Both of which charge you by the hour. Who in your circle is going to teach your, “What you don’t know you need to know?”

Sure you may think it will cost less initially, but in the long run, it will probably cost you everything you have worked so hard to achieve. Remember, this is your foundation! Everything else will build upon this along with the expectation that it will withstand the challenges every business owner must face. And I’m going to say this bluntly; This is not where you need to be cheap. This is an absolute investment in your future, your family’s future. Do it right - with the right people – right from the start.

Have you ever heard of The Prosperity Principle? You are prospered to the extent that, and in the fashion that, You prosper others. Business Structuring & Family Wealth Advisors along with Sage International, Inc. Believes it, Teaches it, and demonstrates it every day with our clients. We have a proven track record of turning budding entrepreneurs into savvy, successful business owners. In fact, the relationship you develop with us is an opportunity to work with a team of very talented and educated individuals who will literally hold your hand through the entire process – before, during and after you entity is formed. Through a shared vision of results we look forward to traveling into the future with you, making sense of this epic journey you are about to undertake. Enjoy and Prosper!