Start Your Own Corporation educates you on an action plan to protect your life’s gains. Corporate attorney and best selling author Garrett Sutton clearly explains the all too common risks of failing to protect yourself and the strategies for limiting your liability going forward. The information is timely, accessible and applicable to every citizen in every situation.
Garrett Sutton has spent the last thirty years protecting clients’ assets and implementing corporate structures to limit liability. This significant experience shines through in a very readable book on the why to’s and how to’s for achieving asset protection. Start Your Own Corporation teaches how to select between corporations and LLCs and how to use Nevada and Wyoming entities to your maximum advantage. This non-technical and easy to understand book also educates on the importance of following corporate formalities, using business tax deductions and building business credit.
Rich Dad Poor Dad author Robert Kiyosaki says, “Start Your Own Corporation is a must read for anyone with any assets to protect.”
About the Author
Garrett Sutton is an attorney, best selling author and one of Robert Kiyosaki’s Rich Dad Advisors. A clear and engaging writer, Garrett demystifies legal topics and presents them in a very understandable and accessible manner.
Garrett has over thirty years experience in assisting individuals and businesses to limit their liability, protect their assets, implement advantageous corporate structures and advance their financial goals.
Garrett is the author of “Start Your Own Corporation,” “Writing Winning Business Plans,” “Buying and Selling a Business” and “The ABC’s of Getting Out of Debt” among other titles.
Garrett is the owner and operator of CorporateDirect.com, which since 1988, has provided affordable asset protection and corporate formation services, as well as resources for entrepreneurs and real estate investors. Robert Kiyosaki, the best selling author of Rich Dad, Poor Dad calls Garrett and Corporate Direct “the premiere source for asset protection strategies.”
Garrett attended Colorado College and the University of California at Berkeley, where he received a B.S. in Business Administration in 1975. He graduated with a J.D. in 1978 from Hastings Law, the University of California’s law school in San Francisco. He has appeared in the Wall Street Journal, the New York Times, and other publications. Garrett enjoys speaking on asset protection strategies and is a frequent lecturer for business groups and the Rich Dad’s Advisors educational series.
Garrett serves on the boards of the American Baseball Foundation, located in Birmingham, Alabama, and the Reno-Nevada based Sierra Kids Foundation.
For more information on Garrett Sutton, please visit his Web sites at www.sutlaw.com, www.corporatedirect.com, and www.successdna.com.
Table of Contents
Foreword Robert Kiyosaki xi
Chapter 1 Your Entity Menu 1
Chapter 2 Good Entities 13
Chapter 3 Corporation or LLC? 43
Chapter 4 Using Nevada and Wyoming Entities to Your Maximum Advantage 59
Chapter 5 How a Charging Order Works to Your Advantage 73
Chapter 6 Crossing State Lines 79
Chapter 7 Professional Corporations 95
Chapter 8 Organizational Steps for Forming a Corporation, Limited Liability Company and Limited Partnership 101
Chapter 9 The Importance of Corporate Formalities 109
Chapter 10 Business Tax Deductions 127
Chapter 11 Building Corporate Credit 139
Chapter 12 Insurance 147
Chapter 13 Joint Ventures 155
Chapter 14 Raising Money 161
Chapter 15 Voting Trusts 185
Chapter 16 Know Who Your Directors and Officers Are! 193
Chapter 17 How to Use a Buy-Sell Agreement 203
Chapter 18 Protecting You and Your Business from Scams 211
Chapter 19 What Happens at the End 223
Chapter 20 Some Miscellaneous Traps 231
Chapter 21 Seven Steps to Achieve Limited Liability 235
Appendix 1 Form 2553 - Election by a Small Business Corporation 241
Appendix 2 Sub S Shareholder Agreement 245
Appendix 3 Form 1065 - U.S. Return of Partnership Income 249
Appendix 4 Subscription Agreement - Purchaser Suitability Questionnaire 255
Appendix 5 UCC -1 Form 259