Safeguarding our personal information from identity theft and not letting ‘the world’ know where we live, is very different than hiding a rental property or asset. Otherwise stated, our personal privacy is different than the privacy needed in keeping the location of an asset private. The important point I want to make in this short article is that we need to understand what we are trying to protect, and then be targeted and exact in our privacy protection strategies.
I don’t know how this whole craze started and frankly, or who started the spread of misdirection and misinformation, but the LLC for all of its good and bad is here for the foreseeable future. Thus, I would be remiss not to tackle this important topic set the record straight.
Let me assure you, it’s not IF a partner, vendor or customer is going to drag you into a law suit…it’s WHEN. I see so many investors and small business owners lose their business and sometimes everything, including their savings, to a deal gone bad and poor documentation.
Many small business owners who operate under a corporation or LLC have heard
It’s scary for many of us to think where our address is posted publicly and how easy it would be for someone to find it.
Now I want to discuss the liability created by our personal actions that could threaten our business or assets. I call this “Outside Liability”- Exposure created outside our business that could allow a creditor to take our business from us.
Thousands of business owners get taken advantage of each year with high priced asset protection plans that don’t come close to providing the protection they were promised.
Partners can be the best thing that ever happened to your business, or
Single-Member LLC’s have their place in the spectrum of business entity choices, and whether such an entity is right for you will depend on the details of your own personal situation.
I target the leading tax and legal questions facing small-business owners today. One of those current issues is the fastest growing crime in America of Identity Theft.