Start Your Own Corporation. Garrett Sutton

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      Start Your Own Corporation:

      Why the Rich Own their Own Companies and Everyone Else Works for Them

      Garrett Sutton, Esq.

      Start Your Own Corporation reveals the secrets the rich have used to limit their liability, protect their assets and minimize their taxes. Originally published as Own Your Own Corporation in the Rich Dad’s Advisor series, and one of the best selling books on the advantages of incorporating, Start Your Own Corporation has been updated and re-released to better assist entrepreneurs and investors with asset protection strategies. A companion book, Run Your Own Corporation, is being released to address the all too often asked question entrepreneurs have: I’ve set up my corporation, now what do I do?

      Start Your Own Corporation offers advice on the right choice of entity, business tax deductions and building business credit. The book also discussed how to raise money for your company and how to be on the look out for corporate scam artists looking to separate money from your new business. As well, the key issue of maintaining the corporate veil is addressed to the reader’s great benefit.

      Using illustrative stories and examples, Start Your Own Corporation is a clearly written and easy to understand guide into the whys and hows of corporate protection. As Robert Kiyosaki’s rich dad said: “If you are serious about being rich and keeping your wealth, understanding corporations and other legal structures is an important part of your ongoing financial education.”

      This publication is designed to provide competent and reliable information regarding the subject matter covered. However, it is sold with the understanding that the author and publisher are not engaged in rendering legal, financial, or other professional advice. Laws and practices often vary from state to state and country to country and if legal or other expert assistance is required, the services of a professional should be sought. The author and publisher specifically disclaim any liability that is incurred from the use or application of the contents of this book.

      Copyright © 2001, 2008, 2012 by Garrett Sutton, Esq. All rights reserved. Except as permitted under the U.S. Copyright Act of 1976, no part of this publication may be reproduced, distributed, or transmitted in any form or by any means or stored in a database or retrieval system, without the prior written permission of the publisher.

      Published by RDA Press

      An imprint of BZK Press, LLC

      Rich Dad Advisors, B-I Triangle, CASHFLOW Quadrant and other Rich Dad marks are registered trademarks of CASHFLOW Technologies, Inc.

      BZK Press LLC

      15170 N. Hayden Road

      Scottsdale, AZ 85260

      480-998-5400

      Visit our Web sites: BZKPress.com and RichDadAdvisors.com

      First Edition: October, 2001 (as Own Your Own Corporation)

      First BZK Press edition: February, 2012

      ISBN: 978-1-937832-35-3

      Acknowledgments

      This book is dedicated to my wonderful wife, Jenny, and our terrific kids, Teddy, Emily, and Sarah. Thank you for your understanding as this book was being written.

      I would like to acknowledge the assistance of Robert Kiyosaki and Mona Gambetta in the revision and updating of this book. Thank you.

      Contents

Foreword by Robert Kiyosaki

Introduction

Chapter One: Your Entity Menu

Chapter Two: Good Entities

Chapter Three: Corporation or LLC?

       Chapter Four: Using Nevada and Wyoming Entities to Your Maximum Advantage

       Chapter Five: How a Charging Order Works to Your Advantage

       Chapter Six: Crossing State Lines

       Chapter Seven: Professional Corporations

       Chapter Eight: Organizational Steps for Forming a Corporation, Limited Liability Company and Limited Partnership

       Chapter Nine: The Importance of Corporate Formalities

       Chapter Ten: Business Tax Deductions

       Chapter Eleven: Building Corporate Credit

       Chapter Twelve: Insurance

       Chapter Thirteen: Joint Ventures

       Chapter Fourteen: Raising Money

       Chapter Fifteen: Voting Trusts

       Chapter Sixteen: Know Who Your Directors and Officers Are!

       Chapter Seventeen: How to Use a Buy-Sell Agreement

       Chapter Eighteen: Protecting You and Your Business from Scams

       Chapter Nineteen: What Happens at the End

       Chapter Twenty: Some Miscellaneous Traps

       Chapter Twenty-One: Seven Steps to Achieve Limited Liability

       References and Resources

       About the Author

       Other Books by Garrett Sutton, Esq.

Foreword

      by Robert Kiyosaki

      When I was ten years old and in the fifth grade, I began to read about the great explorers, such as Columbus, Magellan, Cortez, daGama, Cook. I dreamed of someday traveling the world in a wooden ship, in search of treasures in unexplored lands. I read every book I could about their lives and adventures. In the fifth grade, I often had the highest scores on the tests and quizzes about the great explorers.

      “You read about the explorers who were successful,” said rich dad. “What about the