LGG & Associates, PC - Certified Public Accountants and Management Consultants - All Things QuickBooks - Asset Protection, Proper Accounting, Compliance with the Law, Incorporation, and More
Many of the strategies employed by big businesses and the wealthy can also be enjoyed by a small entrepreneur to achieve significant benefits in asset protection, tax planning, compliance, and privacy.
There are many entrepreneurs who use these strategies but implement them incorrectly, implement them for the wrong reasons, or fail to document the reasons for their decisions. These individuals believe they have protected themselves against the personal liabilities associated with being in business, only to have their strategies crumble before the IRS or in a court of law.
These strategies are available to all of us.
There are three simple steps that a business owner must have in place in order to take advantage of any strategy. They are as follows:
You must have sound and legal business purposes behind your decisions.
You must document both the reasons behind and the plan you intend to follow to implement your decisions in a timely manner.
You must implement your decisions according to the law and complete all the steps necessary to give you the right to implement those decisions.
What if you could structure your business affairs so that you enjoy more perks and benefits, a better lifestyle for you and your loved ones and yet, for all appearances, you earned less money, owned less assets, and your business was stuctured without personal liability.
Should your business produce less taxable income due to your ability to enjoy more deductible perks and benefits, then there simply is less tax! Should your business be structured without personal liability, you have nothing to lose! Should your business have less assets, there is less for that business to lose in a lawsuit!
Privacy is another important issue! Privacy in business will afford you more liability protection. The less someone knows about your assets, the less they will be inclined to sue you. In other words, if you are successful in keeping your private affairs private and everybody thinks you are broke, then nobody will waste their time and money trying to sue you for what they believe you don't have!
This is where you come in! Your job is to become well versed in the strategies available. So call us now at (770) 513-1752.