Could your personal assets be at risk? The most overlooked facet of asset protection that most people get wrong is actually one of the easiest! Jason Hartman invites Rich Dad Advisor Garrett Sutton to talk about the ongoing requirements to keep your corporation or LLC current in good standing. If you fail to follow these simple rules, a court can pierce through the corporation or LLC, also known as “the corporate veil,” and get at your personal assets. Garrett advises you to be aware of The Corporate Transparency Act, what you must know about the new reporting rules for setting up an entity and talks about his new book - Veil Not Fail: Protecting Your Personal Assets from Business Attacks.
About Garrett Sutton, Esq.
Garrett assists entrepreneurs and real estate investors from around the world to protect their assets and maximize their financial goals through sound management and asset protection strategies. Garrett is highly sought after as a guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki.
0:00 Welcome Garrett Sutton, Rich Dad Advisor, attorney and successful author
1:33 Keeping your corporation or LLC current in good standing
3:10 Piercing the corporate veil succeeds in 50% of all cases
7:19 Signing documents on behalf of the entity with your title
10:54 Paying fees to maintain your entity
11:45 Best states for asset protection and managing your LLC
15:57 How the Communist Party in SF almost got away with taking over private companies
18:21 Legal battles within families
20:05 The Corporate Transparency Act
21:39 Fraud and abuse with our current system
24:13 FBI, spying, privacy issues and banking regulations
26:43 Civil forfeiture
28:39 More regulations from Congress
31:49 New reporting rules for setting up an entity - what you must know
32:55 LLCs - S selection to be taxed as an S corp
35:19 Filing a C corp
36:04 Writing off health care premiums
38:22 Asset protection for a C corp
39:17 Asset protection laws
40:43 Get Garrett’s new book - Veil Not Fail: Protecting Your Personal Assets from Business Attacks (Rich Dad Advisor Series)
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