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Blog postLet's start with the good... California Raises their Homestead Exemption The homestead exemption is an excellent creditor protection strategy for personal residences. It all started in Texas when they were an independent republic from 1836 to 1846 and in need of settlers. Texas passed a law whereby creditors could not reach the equity of your
The post What’s New in 2021? appeared first on Corporate Direct.
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Blog postYou’ve set up your LLC. Now it’s time to make money, and flow the profits into your bank account. In the example we’ll use in this article you have transferred title in a real estate rental property (a duplex) into your new LLC, which is called XYZ, LLC. You have also, as is required to follow the corporate formalities, set up a bank account in the name of XYZ, LLC. You haven’t hired a property management company yet as you are going to try managing the property yourself.
In the first -
Blog postCalifornia’s minimum tax on business entities is $800.00 per year. It is the highest in the nation and also comes with franchise taxes, corporate income tax and personal income tax. California traditionally is a tough state to own a small business due to all the taxation and ever-changing business regulations. Interestingly, corporations have been exempted
The post California Does Something Right (Temporarily) for Small Business appeared first on Corporate Direct.
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Blog postScam-Proof Your Assets: Guarding Against Widespread Deception, my newest Rich Dad Advisor book in several years, comes out shortly. Cyber criminality is everywhere, costing people not only financial losses but emotional damage as well. You must be vigilant.
To learn the protective strategies you need against the cyber onslaught you can click below to order the book on Amazon.
I couldn’t fit all of the scams into Scam-Proof Your Assets. So the following excerpt isn’t in the boo -
Blog postMatt wanted to open a confidential mail order business and he needed to operate with absolute privacy. No one could ever know that he ran a business that sold sensitive supplement products over the internet.
Matt lived in Las Vegas and knew he needed a Nevada LLC for his new business. He had heard that the state of Nevada allowed both corporations and LLCs the use of nominee officers, whereby someone else’s name, a nominee, was used for all the state filings. In this way, privacy was -
Blog postJoe exchanged emails with Mary. They were investigating whether Joe wanted a consignment of Mary’s embroidered toilet seat covers for Joe’s hardware store. The email conversation trailed off and Joe went on to other things.
Two days later, to Joe’s surprise, the toilet seat covers arrived.
Instead of emailing, Joe immediately called Mary.
“Why did you send these over?”
“Because we have a contract” said Mary.
“No we don’t,” said Joe. “We only have a stri -
Blog postScam-Proof Your Assets: Guarding Against Widespread Deception comes out in October. It is my newest Rich Dad Advisor book in several years. It covers the very important issue of cyber criminality now harming all of us. The monetary losses are staggering. The emotional damage is disturbing. Email, internet and telephone scams take our assets. You
The post Are Reverse Mortgages A Scam? appeared first on Corporate Direct.
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Blog postYou can’t do a criminal background check on a tenant! You must rent out your property or pay a fine! You must report all of your company’s beneficial owners! Do these exclamations ring of an authoritarian bureaucracy? That bell is ringing louder in the last year as local, state and federal agencies have approved new restrictions on property and privacy rights.
In California, the Oakland City Council outlawed criminal background checks on prospective tenants. The stated purpose is to -
Blog postForce Majeure is a French term meaning superior force. It is also a contract clause that relieves parties from performance when an extraordinary event occurs. Such challenges, known as ‘black swan’ events or generically ‘Acts of God’, may be mitigated by a force majeure clause acknowledging that contracts can’t be fulfilled when issues are outside of everyone’s control.
Did the Coronavirus arise from bat soup in a filthy, fetid wild animal market? Or was it accidentally leaked from Ch -
Blog postBeware of Purchasing Real Estate with Unpaid Liens on It Can the Internal Revenue Service (“IRS”) collect a prior owner’s delinquent federal income taxes from the subsequent purchaser of real property? Yes. In Shirehampton Drive Trust v. JP Morgan Chase Bank, N.A., 2019 WL 4773799 (D.Nev., Sept. 29, 2019) (unpublished decision) (Case No. 2:16-cv-02276-RFB-EJY), the
The post IRS Liens Don’t Die appeared first on Corporate Direct.
Books By Garrett Sutton
Start Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them (Rich Dad Advisors)
Feb 28, 2013
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Loopholes of Real Estate: Secrets of Successful Real Estate Investing (Rich Dad's Advisors (Paperback))
Aug 6, 2013
$14.39
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How to Use Limited Liability Companies and Limited Partnerships: Getting the Most Out of Your Legal Structure
Jan 24, 2017
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Run Your Own Corporation: How to Legally Operate and Properly Maintain Your Company Into the Future
Feb 28, 2013
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Toxic Client: Knowing and Avoiding Problem Customers
May 17, 2016
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