If your corporation or LLC is sued, can you be held personally liable?
Many people form an LLC or a corporation in order to obtain greater tax benefits and to protect their home and personal assets from business liability. But for most small businesses—this is a myth! The vast majority of small corporations and LLCs have absolutely NO protection whatsoever because their owner’s commit “alter ego” blunders.
Alter ego blunders can allow the IRS and the courts to disregard the tax and legal structure of your business entity.
When that happens it’s a SERIOUS PROBLEM:
- It could cost you thousands of dollars in taxes and a loss of your tax-favored fringe benefits.
- Your corporation or LLC could lose its legal standing with the State and be barred from defending itself or bringing suit for damages against another.
- You could lose the asset protection afforded to a corporation or LLC, thereby subjecting your home and personal assets to liens and seizures.
The Biz Tax & Compliance Coaching Program (BTCC) can protect you from alter ego blunders, while freeing up time for you to do what you do best — run your business.
The program gives you strategic tax structuring to reduce taxes, while providing tax-favored fringe benefits for you and your family. It also includes instruction on the proper record keeping required to withstand IRS scrutiny.
In addition, the program can save you money by eliminating penalties from the regulatory agencies, by reducing the chance that you are sued and by protecting your home and personal property from business liability.
THE BTCC PROGRAM
Business Tax Compliance Coaching
The Problem We Solve For You
Small business owners need help with the very complex tax code and in meeting all of the regulatory requirements that our overreaching government has placed before them. On a daily basis most small businesses unknowingly violate some regulation.
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 not acting like a corporation or LLC, then you are not one. If you do not follow the “Rules”—you are not protected.
BTCC Program Overview
We have created an on-going year-round coaching, planning and compliance system for your business. Our program will help give you the tools needed to build your business, save you money on taxes, and make the money you are already spending work more efficiently.
It is designed to take the regulatory burden off of you to allow you more time to successfully run your business. Our program has a large education element to it to clear up popular misconceptions regarding taxes, estates and business compliance.
Our on-going program encompasses the BIG picture; guiding you through all phases of your business life; from start-up and helping you with your business plan, to assisting you through the growth phases.
As your business matures, the program addresses the issues of aging for you, as a business owner, and will make recommendations in helping coordinate your business plan with your estate plan—then ultimately help you develop an exit or succession strategy for your business.
We cover the six primary areas that concern small businesses:
- Strategic Tax Structuring and Compliance
- Keeping your taxes lower
- Protecting your tax benefits with proper recordkeeping
- Maximizing Your Owner Benefits
- More pre-tax benefits for you and your family
- Financial benefits to hiring your spouse & children
- Protection from Regulatory Agencies
- Complying with the Rules that govern your business
- Reducing fines and court costs
- Business Planning and Development
- Growing your business; creating revenue
- Improving your marketing strategy
- Protecting Your Assets
- Segregating personal, investment & business assets
- Risk management, the role of insurance and agreements
- The Aging Business Owner and Exit Strategy
- Planning for the un-planned & protecting your family
- Planning your exit strategy, succession, and estate plan