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Garrett Sutton has over twenty-five years experience assisting and advising entrepreneurs, families and business in selecting the appropriate corporate structures to limit their liability, protect their assets and advance their personal and financial goals through real estate investments and other means of wealth creation.
An author, speaker and a member of an elite group of "Rich Dad's Advisors" hand selected by author Robert Kiyosaki, Garrett speaks to investors and entrepreneurs on a variety of topics including asset protection, liability limitation, wealth creation, as well as various business and real estate issues. Garrett has authored Own Your Own Corporation, The ABC's of Writing Winning Business Plans, The ABC's of Getting Out of Debt, How to Buy and/or Sell a Business, and co-authored Real Estate Loopholes. These titles are included in the "Rich Dad, Poor Dad" wealth building book series. Additionally, under the SuccessDNA Publishing label, Garrett has authored and co-authored numerous books including, How to Use Limited Liability Companies and Limited Partnerships and his latest title, INSIDER Secrets of Business & Personal Credit. Garrett's books provide an accessible source of information for building your own success. Sort By: Date | Popularity
 The Importance of Good StandingGood standing sounds important. It conveys the sense of ethical and upright activities. It is a place from which you want (or should want) to operate.
When it comes to corporations, LLCs and LPs good standing is a legal requirement. And the consequences of not being in good standing, while unfortunately unappreciated by most, can be devastating.
Almost every state requires each corporation, LLC and LP formed there or qualified to do business there to file an annual report. The Importance of Good StandingGood standing sounds important. It conveys the sense of ethical and upright activities. It is a place from which you want (or should want) to operate.
When it comes to corporations, LLCs and LPs good standing is a legal requirement. And the consequences of not being in good standing, while unfortunately unappreciated by most, can be devastating.
Almost every state requires each corporation, LLC and LP formed there or qualified to do business there to file an annual report. Lack of Business PlanningBeware the temptation to jump into business before you’ve done the proper planning. And don’t underestimate that temptation. Once you have made up your mind to start a business, it is difficult to wait to get going. You want to start moving, making money, living the life you’ve dreamed of. But if you want your business to succeed, you must take the time to understand it, yourself, the industry, and the market. Kids and Asset ProtectionReview Your Structures When Your Child Gets A Drivers License
Your risk exposure goes through the roof when your child under 18 years old obtains a drivers license.
Are you surprised? Didn’t you read the fine print?
In most states, the application for an instruction permit or drivers license must be signed by a parent or custodian of the child. And by signing that simple form you agree to be responsible for the negligence or misconduct of the minor while they are driving. Keys For Using An S CorporationIf You Have Been Considering Forming a Corporation or Other Business Entity to Provide yourself With Limited Liability and Financing Options in Your Business Venture, You Have Made an Important First Step. You May Have Compared the Tax Benefits of Corporations and Limited Liability Companies or Limited Partnerships. Series Llc: Where Angels Fear To TreadThere's a Lot of Talk About Series Llcs. More and More People are Wondering if They're a Smart Idea. the Short Answer is That They Aren't - They Haven't Been Tested, Giving Them Limited Applications if They Have Any at All.
first, Some Background. Llcs Alone are an Excellent Structure for Many Different Uses. for Instance, They Work Well as a Method of Holding High Dollar Assets Like Real Estate. C Corporation ConsiderationsA C Corp Has the Widest Range of Deductions and Expenses Allowed by the Irs, Especially in the Area of Employee Fringe Benefits. a C Corp Can Set Up Medical Reimbursement and Other Employee Benefits, and Deduct the Costs of Running These Programs, Including All Premiums Paid. the Employees, Including You as the Owner/shareholder, Will Also not Pay Taxes on the Value of Those Benefits. Choosing The Wrong Corporate EntityCorporate Entities Come in Three Categories: the Good, the Bad, and the Ugly. But Even Among the Good, One Size Does not Fit All. Choosing the Wrong Corporate Entity Can Cost You Time, Money, and Your Personal Assets. Improper AccountingMany New Business Owners Make the Mistake of not Properly Accounting for it All. Please Know That Companies Live and Die by Numbers. They are Defined by Numbers. They Grow With Numbers. They Bleed With Numbers. Numbers Define the Health of Your Business at Any Given Time and Over Time. Thoughts On Asset ProtectionIt is No Secret That the United States is the Most Litigious Society in the World. That Said, it is Important to Acknowledge That Many of These Lawsuits are a Necessary Component of our Legal System, and Possibly the Only Means to Right Many of the Wrongs That Occur in our Society. However, the Other Side of This is That a Certain Portion of These Lawsuits are Based on Nothing More Than an Attempt by One Party to Generate a Financial Windfall From a Targeted Defendant.
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