Choosing the right business structure used to be much easier. There were bad business structures, really bad business structures, and good ones.
Now it’s more complicated. If you own real estate, financing is tough and new lending rules from Fannie Mae and Freddie Mac mean that you need a layered business structure system.
If you owned a business, asset protection was a concern. You needed to protect your personal assets from something that might go wrong with the business. You might have also recently discovered that you need to also protect your business from personal lawsuits, so you needed a layered business structure system as well.
And now, with economic uncertainty, you might have already discovered that your biggest risk isn’t even from outside your business. It’s from within your business! You need a new solution for the business challenges of 2009 and beyond!
If you haven’t updated your business structures within the past year, you might as well put a big target on your back!
Three friends went into business together. They knew they had to protect their personal assets from possible risk of the business, and so formed an LLC (Limited Liability Company) to operate the business through. Two partners went one step further and held their 1/3 share inside two other LLCs. The third partner didn’t think there was any risk and held her 1/3 share in her own name.
Soon after the business started, one partner left. The ending was relatively amenable, and didn’t wind up in court. After that, the business grew and was profitable, but the partners’ personal relationship failed after a few years. This time, though, the ending wasn’t amenable and resulted in numerous lawsuits being filed.
The partner who held her interest in her own name was now at a serious disadvantage. Because she hadn’t contained her business risk within a LLC, the lawsuits named her personally. The other partner was safe, behind the liability shield his personal LLC provided. If he lost, he may lose his half-share of the business, but his personal asset were safe. But the other partner held her interest personally, meaning she had no such protection. All of her personal assets were at risk, leaving her with no choice but to defend each lawsuit that was filed, and pay out thousands of dollars in legal fees. She eventually won, but it was a very expensive lesson.
The lesson? NONE of this had to happen. If she had held her interest inside an LLC or other protected business structure, and she had followed the steps she need to protect it, the lawsuits would have quickly gone away.
In 2009 and beyond, you must have a layered structure system if you want to have true asset protection. In today’s uncertain economic time you need to protect everything much more carefully.
If You Have a Limited Partnership or a Single Member LLC, You Are Probably Going to Get Audited This Year!
These two structures have become audit red flags in and of themselves. Avoid these at all costs! Ironically, the Limited Partnership is about the ONLY structure I used to use for my real estate investor clients. How times have changed! Oh, and if you do have a Single Member LLC, I’ll tell you one simple change you can make that will move you right out of the IRS target range. That’s all part of my new home study course, “Business Structures for 2009 & Beyond.”
Tax laws are changing, and changing rapidly. It’s predicted that we’re going to see more tax law changes in 2009 than in any other year since World War II. We’re going to see more changes in 2009 The strategies that worked in the simpler times just a few years ago, simply don’t work anymore. That’s why it was so important to create this brand new information product - Business Structures for 2009 & Beyond.
With your purchase you'll receive an audio program that is approximately 3 hours and 4 minutes long, broken down into the following sections.
Section One:
Introduction to Business Structures: Why what you don’t know can hurt you!
Start here to learn about the changing environment for business structures in the financing world, for tax planning and the need to beef up your asset protection.
ALERT!! Did you know that if you violate the new anti-Identity Theft regulations and accidentally give out a customer’s name and address, you could personally face a $50,000 fine? Protect your family. Protect what you’ve worked so hard to build. Get the right Business Structures for 2009 & Beyond!
- Learn the new “bad” business structures and how having the wrong structure can guarantee an IRS audit.
Section Two:
Why You Must Control an LLC Today
The Limited Liability Company is the chameleon of the business world. What is it? Well, what would you like it to be? Learn how everyone with any assets needs at least one LLC, and even better, learn how you can form them cheaper than you think.
- 3 Strategies to Pay Less Tax with an LLC
- 1 Proven Method to Bullet Proof Your Assets
Section 3:
Use the Best of an LLC, S Corp and C Corp in your Tax Plan to Combine Asset Protection With Tax Savings
As your business and assets grow, you will want to add to your stable of structures. Added at the right time, for example C Corporation taxation can immediately cut your tax bill $10,000 - $100,000 per year. And, even better, you don’t have to form a C Corporation to do it!
- 3 Secrets to Use the Best of Business Tax Law Every Time
- Control When You Pay Your Taxes
- The One Secret I Use to Always Save My Clients Tax Money
Section 4:
Select the State In Which You Do Business To Dramatically Reduce Your Taxes
States are broke and there is one thing they’re all going to do to get money: Find a way to bring you into their state. Learn what states to avoid at all costs and how one simple misstep could cause you years of state tax agony.
- Critical Steps to Making Sure You Pay the Right State
- 3 Strategies to LEGALLY Avoiding Your Home State Tax With a Business
- The 3 State Taxes You Need to Run From
Section 5:
Put Your Real Estate in the Best Business Structures for 2009 & Beyond
Or better yet, “How One Client Saved Almost $3,000 in State Fees Each Year By Making One Easy Change.” Real estate structures are tricky these days. You need maximum flexibility for financing, plus you need stronger-then-ever asset protection.
- How to Avoid the Limited Partnership Audit Trap
- How to Navigate the Tricky Fannie Mae & Freddie Mac Requirements for Refinancing by Using the Right Structures
- Advanced Techniques with the Trust Sandwich to Limit Costs in All States
Section 6:
Advanced State Tax Strategies
In this fun interactive section recorded live at one of our popular events, you’ll hear real life case studies of what it takes to pay the least amount of state tax.
- How Gross Margin Tax Can Ruin Everything
- Look Out If You Have Workers In This State
- Even Driving Regularly in These Two States Could Make You Subject to Tax
And of course, we’ll give you the step-by-step strategies to make sure these problems don’t happen to you!
Section 7:
Avoid These C Corporation Tax Traps
This may very well turn into the most important information you learn in 2009 and beyond! Personal income tax rates are on the rise and C Corporate rates are lowering. If you have a business, you’ll probably want a C Corporation, or better yet, a layered business structure with a C Corporation.
Know the traps and the strategies to avoid them:
- 3 Signs that Double Taxation Could Become an Issue for You
- Strategies to Avoid Controlled Group Issues, and Why You Want To
- 2 Systems to Flunk the Personal Service Corp Test
- How to Use Corporate Tax Law to Create Passive Income
Section 8:
What You Need to Do Next
None of this matters, if you don’t know what to do next! That’s what this valuable final section does - tells you, step by step, what to do so you can move forward with your own Business Structures for 2009 & Beyond!
Business Structures for 2009 & Beyond Also Comes with a Handy Stand-Alone Resource Guide
PLUS The Business Structures for 2009 & Beyond Home Study Course comes with a stand-alone Resource Guide. This reference guide will sit right next to your computer, quite possibly the most value business resource you have. As your business grows, you’ll know the fundamentals of business structures and even more importantly, how to select the right one at the right time.
Just look at all the information you’ll get in this 100+ page Resource Guide.
Part I: Foundation for Business Structure Planning
- The 3 Goals to Plan Around
- Risky Business Structure Choices (Sole Proprietorships, General Partnerships and Living Trusts
- Safe Business Structure Choices
- The Asset Protectors: Limited Partnerships and Limited Liability Companies
- The Passive Income Advantage
- The Special Asset Protection Advantage
- Charging Orders
- Why You Can’t Protect a Business from Itself
- The Basic Elements of Limited Partnerships and Limited Liability Companies
- How the Asset Protectors are Taxed and Distribute Profits
- The Business Operators: C Corporations and S Corporations
- The Basic Elements of A Corporation: Shareholders, Directors and Officers
- How the Business Operators are Taxed and Distribute Profits
- S Corporation or C Corporation: Which is Better?
- 10 Questions to Help Make the C versus S Corporation Decision
- What Structure is Best for You?
PART II: Business Structure Planning for 2009 & Beyond
- Today’s Business Structure Menu
- The Decline of the Limited Partnership
- The Danger of the Single-Member LLC
- Are SMLLCs Safe?
- The Well-Placed C Corporation
- The LLC Taxed as a C Corporation
- The LLC Taxed as an S Corporation
- How to Switch from an S Corporation to an LLC-S
- One More Argument in Favor of the LLC-C and LLC-S
- The Series LLC
- The Trust Sandwich
- Upgrading the Trust Sandwich with a Series LLC
- Real Life Business Structure Strategy Examples
- State-by-State Guide to Charging Order Provisions
NEW BONUS AUDIO TRACK ADDED Have you been wondering about the Series LLC, and if it could fit into your business plan? Then you’ll love this brand new 30 minute teleseminar! Join Diane Kennedy and Megan Hughes, founder of Business First Formations, Inc., as they discuss the Series LLC and outline 5 different strategies designed just for the Series LLC.
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