2007 Business Restructuring
As of late I am changing the structures of my businesses. It is all part of implementing a new asset protection and tax planning strategy. The idea is to own nothing. Instead of owning it you should control it.
The only reason Americans have to take asset protection seriously is because we live in a litigious society; too many lawsuits! More often than not, some people are out there trying to get what you have worked so hard to earn/build up. On the other hand, the only reason Americans have to take tax planning seriously is because the IRS (whose business is to collect as much revenue for the United States treasury as possible) favors business entities, like corporations, over individuals. In other words the tax code grants more deductions and breaks to businesses rather than people. One reason the government favors this policy is because generally businesses contribute to the growth of the economy. I would personally argue this on the account that if we the people did not spend money, the economy would be in bad shape.
I have not written much about what kind of businesses I am involved with. Let me start by saying it is hard work to start small businesses. I am an entrepreneur and the rewards of successful enterprising far outweigh the risks, hard labor, and challenges I face daily. It is fun too! This year I am involved in starting, managing, and/or operating businesses in asset management, stock trading, real estate, multimedia, business services, and publishing. As soon as websites are available I will post them in this blog. God bless!
