In this video, I will be discussing the importance of avoiding commingling funds and why it's so important to make sure that your business is following the rules when it comes to bank accounts.
Commingling funds can lead to fines and penalties, as well as headaches for those involved in real estate.
Learn more about how to become anonymous AND appear as if you own nothing at our next Free Tax & Asset Protection Workshop. Save Your Seat: funds means that you're mixing your own money with money that you've received from others. If you're new to investing, then you need to be especially careful when it comes to commingling funds.
Why do you need to avoid commingling funds? What are commingling funds and what is their effect on your business pursuits?
This is a common problem that can cause more severe problems in the long run. For example, if you commingle your money with someone else's, they might be able to take advantage of the situation. Furthermore, if you need to sell something that you own but you don't have the money to pay for it, someone else might be able to buy it from you using your commingled money.
Our content in this video will be focusing on the discussion regarding the dangers of commingling funds and why it's important to avoid them.
If you have any questions or comments, please feel free to leave them below.
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Show Notes:
0:00 Intro
0:13 What is Commingling Funds
1:01 Example
3:22 Connections
4:58 Expenses
7:54
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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