Starting a successful business normally involves performing research and due diligence to gain an understanding of the particular industry with an eye towards taking the proper steps to ensure that your presence in the marketplace is adequately protected from unfair competitors.
We were discussing the concept of not being rushed, taking our time, and following our ‘gut’ when it comes to investment decisions. Of course, we don’t want to get into analysis paralysis and procrastinate indefinitely out of fear or worry. However, when something doesn’t feel right we need to stop and hold the horses.
Ironically, no sort of legal ‘structure’ is going to help you protect your Gold and Silver Bullion Coins or Bullion Bars. It all comes down to secrecy and storage techniques. Please allow me to make some suggestions on Dos and Don’ts.
Ordinarily KKOS recommends the “S” Corp for anyone seeking to incorporate their operational business. There are obvious asset protection benefits of incorporating, and the “S-Election” can help you save a significant amount in self-employment tax (if done properly)
I wish that it was as easy as just filing a form with the State and you have magical tax savings and bullet-proof asset protection, but that’s simply not the case.
Having an Employee Handbook can make a huge difference in deterring a future lawsuit with employees. It can also help you tremendously in creating a more positive work atmosphere and increasing efficiencies. A properly drafted Handbook sets forth the guidelines, expectations and most importantly the policies of your business.
The reason being is that Cruise ships are difficult to deduct for valid business travel. The IRS has passed strict rules on their deductibility. Essentially, the IRS scrutinizes deductions claimed for attending a business convention where opportunities exist for vacationing.
The main purpose of this type of company is to provide a sort of ‘public awareness’ that your company is different and better than others. As such, your company will need to exemplify various practices and policies that show you are more concerned about benefiting the public through social or environmental causes than simply making profit.