These 3 Shocking Case Studies
So You Won't Become # 4!
happens when you have an attorney as a customer and they
A Colorado contractor with a 25 year-old S-corporation built
a house for an attorney who then refused to pay him for his work.
The contractor sued the attorney, who in turn, countersued the
contractor alleging a bunch of trumped up charges! This contractor
has shelled out more than $22,000 so far trying to protect his
house from the attorney's attempt to pierce his corporate veil.
The facts: If you're not incorporated in a state that strongly
protects your corporate veil more than your corporate assets
will be at stake should someone hit you with a lawsuit-even a
frivolous one! You could lose your home, and any other personal
assets! This contractor now wishes his corporation had domiciled
want problems? Try running a C-corporation with NO PAYROLL!
One of our senior consultants used to work for a CPA firm. He
tells us that 2 out of 3 of all new clients were in the wrong
kind of entity or set up improperly. One of his old clients formed
her own C-corporation, but when it came time to pay her salary,
she just continued pulling money out like she did when she ran
a sole-proprietorship. Three years later she was hit with an audit,
and the IRS charged the company with back payroll taxes and 19%
penalties! She had to close down her business because she couldn't
afford to pay!
The facts: If you form a new corporation, make sure you find out
how it's supposed to be run, and that you select a company with
the resources to help you get-and stay-on the right track! Otherwise,
you could find yourself facing an audit and unbelievable-and unaffordable-back
taxes, interest and penalties! If they're severe enough, you could
even lose your business!
you're paying someone $300+ per hour, you would think you're getting
the best advice on how to maximize your business expenses right?
WRONG! One fellow who owns a major U.S. golf supply company called
NCP to find out which entity would be best for his new venture.
While we were talking, he explained that after he bought Sandy
Botkin's Tax Package, he took the course to his "Big Five" accounting
firm to compare notes. Imagine his shock and surprise when he
found out that the Big Five expert wasn't familiar with many of
the legal business deductions Sandy mentions in his book!
The facts: Just because someone charges you BIG fees doesn't necessarily
mean they know everything there is that will benefit you. Inform
and educate yourself on how to best maximize your business expenses. No
one else will do it for you!
a new partner in on your business is the easiest way to hurt your
existing company. Find a better way there are other options!
of people who form corporations in the State of Nevada without
proper coaching as to which entity is best for their situation
wind up with the wrong entity-and bundles of trouble later on!
of business errors are made when consultants communicate important
information to only one partner and then that partner tries to
share it with the other partner.
people miss tax savings for two reasons: lack of proper information
and lack of discipline don't let this happen to you!
of business failures are due to a simple lack of education when people think they know it all.
been proven time and time again that when you invest in the right
support to start your new business, you save thousands during
your first year alone not to mention time and frustration!
It's like how knowing what you need to do to hire a top sales
person saves you an easy $30,000/per person!
you want to know you're making the right decision BEFORE you form
you figured out what your time is worth? If you're serious about
forming the right entity, it makes sense to start off on the right
foot. Save yourself time by working with experts who provide you
with the information you and your professionals need to make the
best decision for you.
you know why and when the facts shared above might play
a major role in your situation?
Research- Avoid the Mistakes that 70% of those incorporating in Nevada
make again and again. Find out why most professionals avoid Nevada
for all the wrong reasons, leaving their clients, like you, vulnerable and
the sad part is you'll never even know it, until it's too late! View more >>
Questions about Forming an LLC or Corporation?
Call NCP at 1-800-351-5111 (outside the U.S. 1-702-367-7373)