Alter Ego Blunders—Piercing the Corporate Veil

If your company is sued, can you be held personally liable? Many people form LLCs and corporations to protect their home and personal assets from business judgments, but the vast majority of small corporations and LLCs have absolutely NO protection, because their owner’s commit alter ego blunders. Alter ego means that the company appears to be an alternate version of the owner; that the law
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Categories: ASSET PROTECTION and CORPORATIONS & LLCs.

Corporations and LLCs Do Not Automatically Provide Benefits

You may have formed an LLC or a corporation with the understanding that your business structure would save you money in taxes and protect you from lawsuits and creditors. But for most small and micro businesses in California that is a myth. Only about two percent are in compliance and most are violating some regulation daily. Warning: Forming a corporation or LLC will not automatically
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Categories: ASSET PROTECTION, BUSINESS TAX STRATEGIES, and SMALL BUSINESS ADVISORY.

LLC and Corporation Compliance Program

The Rules for operating an LLC or corporation are complex and NOT COMPLYING with them can cost you thousands of dollars. We can take the burden off of you in keeping your LLC or corporation in compliance with the law to protect your tax benefits and protect your home and personal property from business liability. We have created an on-going year-round compliance and tax planning
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Categories: ASSET PROTECTION, CORPORATIONS & LLCs, and SMALL BUSINESS ADVISORY.

Operating Agreements and Bylaws—Why they’re Necessary

Under California law if your LLC lacks an operating agreement or your corporation bylaws, your home and personal assets could be exposed to business lawsuits and creditors. Your corporation or LLC could also be subject to unnecessary legal actions and be barred from defending itself or bringing suit for damages against another. Also, its contracts could be deemed invalid by the courts, allowing others to
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Categories: ASSET PROTECTION and SMALL BUSINESS ADVISORY.

Corporate or LLC Compliance and Annual Meeting Plan

Many business owners form an LLC or a corporation with the misunderstanding that their business structure will protect them from lawsuits or creditors. However it is rare that these same owners operate their business in a manner consistent with their chosen entity structure, as required by law. Therefore, they often find out that they have no protection. The courts consistently rule that if you are
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Categories: ASSET PROTECTION and CORPORATIONS & LLCs.

Shielding Your Assets

To properly shield your assets requires planning and restructuring as to the way you hold and control those assets.  Asset protection planning is the method of preparing for the possibility of future lawsuits by rearranging the ownership of assets so that they are beyond the reach of potential creditors. Taking action to protect your assets must take place before any event has occurred that could
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Categories: ASSET PROTECTION and CORPORATIONS & LLCs.

Protecting Your Business

How can you, as a business owner, protect your assets when you start a business? If you begin a business without incorporating it or forming it as some type of limited liability entity, then all of your personal and business assets are at risk for all debts and claims against your business. If you run your business as a sole proprietorship or a general partnership,
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Categories: ASSET PROTECTION and CORPORATIONS & LLCs.