Start Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them

by Garrett Sutton

Overview

We live in a highly litigious world. As you live your life you must keep your guard up. As you grow your wealth you must protect it. For those who don’t predators await, and their attorneys will use every trick in the toolbox to get at - whether large or small-your unprotected assets.

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.”

Product Details

ISBN-13:	9781937832001
Publisher:	RDA Press, LLC
Publication date:	02/28/2012
Series:	Rich Dad's Advisors (Paperback)
Pages:	220
Sales rank:	36,875
Product dimensions:	5.90(w) x 9.10(h) x 1.00(d)

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

Introduction xv

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

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

Index 263