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 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 30 years protecting clients' assets and implementing corporate structures to limit liability. This significant experience shines through in a very listenable audiobook 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 audiobook also educates on the importance of following corporate formalities, using business tax deductions and building business credit.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.
©2013 Garrett Sutton (P)2013 Hachette Audio
Everything you really need to know is in the first few chapters. After that, it reads like stereo instructions except not as exciting.
Here's my Cliff Notes:
Use an LLC to protect assets and limit your liability for most small businesses. Avoid general partnerships and sole proprietorships. If you have multiple businesses or rental properties, put each one in a separate LLC. S and C corporations are beyond the needs of most small businesses. Incorporating in Wyoming or Nevada have benefits over other states. There are a few other good tidbits, but this book kinda sucked. There were times when I was driving and listening, and I thought, "Dear God when will this book be over?" I definitely learned some stuff, but I just did not enjoy the writing style. You could definitely tell that it was written by a lawyer.
Although it can get complex, he helps you grapple with each idea and the reasoning behind it. Get the other book on Running a Corporation as well.
I want to start a business but didn't even know where to start. Start Your Own Corporation is a great tool to get you started. I am now much more confident that I can create a company that will last. You may not soak in everything in this book the first time, but you'll have an idea of where to go for answers.
I listen to way more content in an audio book then I actually read in a paper copy. I actually own this book in a paperback and have had it for almost 2years only making it to chapter three or so before I either got distracted or lost interest (too long ago to remember).
That being said I love this information and the method in which Garret reads it. He does a great job narrating it and I can understand most of the material on the first time through ... That's the key for me though, reading (listening) to the book several times before I finally put it away. I absolutely got a lot out of this book and we'll be recommending it to others.
This is hands down the best investment I've made on audible. Starting a business can be an extremely overwhelming process, but Garrett Sutton breaks the process down on nearly every level. When I finally found an attorney and started my business I knew the right questions to ask. This made my initial engagement with my attorney a very simple process. Though I have a long way to go, I believe most business fail because too many would be entrepreneurs jump into business without doing the due diligence. I now have multiple books from Garrett Sutton and he is now my favorite expert on the subject!
Yes, this book was really helpful to me as a small business owner to make sure my company was properly form and maintained.
All of the examples were good to hear and helps you remember each principle.
Really helped me make sure my liability remains limited for my LLC.
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