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Asset Protection

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Sheriff
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 posted 3/21/2008 9:46:31 AM         Reply to Post reply
 
I am going to start this topic to see if anyone here has done anything beyond a regular LLC.

Anyway, as we all know, as you earn some money in USA (and in Russia as well), there will be people who will be very interested to take that money away from you. Regardless of whether you are a successful businessman (-woman) or just contribute to 401(k), IRA or other pension plan.

First, let's identify folks that are out to get your money from you, so we all stand on the same ground:
1) U.S. government, in forms of IRS, various fees such as passport registration, fees on your bills, Social Security and Medicare, military service, etc.
2) State and Local "Authorities" - property taxes, police (traffic violations), corporate taxes and registration fees, various local fees such as hunting fees, tolls, etc.
3) Financial companies who really like your hard-earned money in their accounts
4) Individuals who enjoy suing, and their happy-trigger lawyers

There are more.

Question of the day: what have you done to protect your hard earned money from all of the above?

Question #2 of the day: Have you started your LLC yet?

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