The right business structure saves you taxes and protects your assets. The wrong one costs you eve MORE taxes and puts your assets at risk. One of the saddest things I’ve ever seen in my 25+ years in accounting is seeing someone lose everything they own because of a business structure mistake.
Every week, I tape one or two new online workshops which are free as part of First Class Lounge. This week I reviewed two questions I’d received. The first asked about the new Series LLC – or rather, I think that’s what the question was. One of the challenges that CPAs and lawyers face is that we use terminology that people in the real world (and in their right mind!) would never use. The problem for the rest of the world is that if you don’t know the right words, you’re going to get different answers.
That’s why I review what I “think” the question means and give additional information during the online workshops.
The second question asked how to transfer property into an LLC. We always say that’s what you’re supposed to do to protect your proeprty. But, how do you do it? I’ll talk about some practical considerations when you do the transfer.
Now, here’s the good news. If you’re not yet a member of First Class Lounge you can check out all these online workshops for 30 days for free! After you’ve had a chance to see all the great information, I think you’ll agree the program is worth hundreds of dollars per month. Act now and you’ll get it for just $9.97.