Costly Mistake Number 3:

Forming an LLC and having it managed by members instead of managers* (A sure way to lose flexibility and control)

Asset Protection and Business I.Q.

Question # 3: What is/are the benefit(s) of having your LLC managed by managers?

A) Many times you do not need to disclose the owners (members) in annual state reports
B) Managers have more authority than members
C) Members added in the future will not necessarily have a say in management
D) It looks more like a limited partnership
E) An operating agreement is not required
F) There are more tax advantages
G) All the above
H) A and B
I) A, C and D
J) C and E

* “Managers of an LLC” is defined as the person or entity that manages the day to day operations of the LLC.

Costly Mistake Number 4:
Forming an S corporation and NOT knowing the shareholder rules (Imagine discovering years later that you’ve violated an S corporation shareholder rule — and that you now owe years of expensive C corporation back taxes.) Asset Protection and Business I.Q.
Question # 4: Who can be a shareholder of an S corporation?

A) A U.S. citizen

B) Another S corporation
C) C corporations
D) All LLCs
E) A living trust
F) All of the above
G) A, B and D
H) A, B and E

Costly Mistake Number 5:
Forming an S corporation when your company anticipates future value (There must be a better approach, and indeed, there is!)

Asset Protection and Business I.Q.

Question # 5: When is an S corporation NOT your best choice?

A) When you are considering investors for your business
B) When you are considering foreign partners
C) When the company will develop a great asset value
D) When you are going public
E) When you live in California
F) All of the above
G) A, B and C
H) A, B, C and D

www.nvinc.com For more information call 1- 877- 515 – 0505 (local 702-367-7373) today!

Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Over the past 13 years NCP has assisted more than 5,000 business owners form LLCs and corporations to get their business off to a fast start to profits™! Questions? Call NCP at 1-888-627-7007. www.nvinc.com

Costly Mistake Number 1:

Forming an LLC and NOT knowing how it’s taxed (Are you a single or multi-member LLC? Will you be disregarded for tax purposes, taxed as a partnership, a C-, or an S-corporation?)
Asset Protection and Business I.Q.

Question # 1: If you have two members in an LLC*, how will the LLC be taxed?

A) A limited partnership
B) An S corporation if you file Form 8832 and 2553
C) A disregarded entity
D) Federally only
E) All of the above
F) A and B
G) A, B and D * “Members in an LLC” is defined as the owner of the LLC. Costly Mistake Number 2: Forming an LLC for real estate and NOT knowing how it should be taxed when you have dealer and/or investor property? (Make the wrong choice, and be doomed to a life of unnecessary taxes.) Asset Protection and Business I.Q.

Question # 2: What is a “real estate dealer”?

A) Someone who goes to real estate auctions
B) Someone who holds onto real estate for more than 12 months
C) Someone that will be subject to SE taxes on the sale of the property
D) Someone that will be subject to short term capital gains
E) Someone that flips properties in less than 12 months
F) B, D and E

www.nvinc.com For more information call 1- 877- 515 – 0505 (local 702-367-7373) today!

Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Over the past 13 years NCP

has assisted more than 5,000 business owners form LLCs and corporations to get their business off to a fast start to profits™! Questions? Call NCP at 1-888-627-7007. www.nvinc.com

Even some of the new credit cards that say zero interest balance for 6 months, if you go on the discussion boards or search the internet for the credit, and put the credit card name in and “complaints,” you’ll see a list of people on sites that signed up for a card and, within 30 days, their interest rate is at 29%.  They just moved over $6,000 from another card at 14%.  Their interest rate doubled!

What happens when your interest rate doubles and it’s $30,000, $40,000, $50,000 of debt?  That makes a huge difference.  One thing, if your mortgage interest rate goes up a little bit, yes, it’s on a bigger number, but if your mortgage goes up $500 or $600 a month and your credit card goes up $500 or $600 a month, that’s the problem that’s coming for people who are on the edge of not even able to afford their mortgage.  That’s what’s going to lead into even more foreclosures than we even first thought, in my opinion.  I think it’s going to happen like clockwork.

Want to know the #1 secret of Credit Bureaus?

Credit Bureaus Are in Business to Make Money.

Every one of the major credit reporting agencies or credit bureaus; TransUnion, Experian and Equifax, are independent businesses. They are, at their core, the largest list broker services in the nation; which means that they sell consumer information, and not just in the case of credit reports. They sell qualified lists. They’re the largest list brokers in the nation.

Isn’t it amazing that you can call up any one of the 3 credit bureaus and request that documentation? They will sell you that information that qualified list. And nobody whose name is on that list needs to be asked if it’s okay with them, because that’s the business that they’re really in.

A credit report is nothing more than taking the same information they already have on all of us and putting it into a package that we call a credit report, and then selling it.

Here’s another secret:

Credit Bureaus Are in Business to Make Even MORE Money.

Another way credit bureaus make money and one that most people don’t realize is, they get paid by the creditors. The creditors actually pay to report information.

Not only does it cost them money to compile it, but they also have to purchase the software system that integrates with the credit scoring companies or the credit bureaus themselves, TransUnion, Experian and Equifax, they have to pay for that and they have to pay to report every line that they report on consumers.

Here is what you will learn on this powerful financial Teleseminar:

* The truth about D & B, and mistakes to avoid!
* What you must do differently to build up Corporate Experian!â„¢ Business Credit (It is not the same approach as D & B)
* Steps you must go through before you build your business credit profile!
* When to use vendor credit vs cash!
* Secrets to maximize your vendor credit!
* How to access cash (even in today’s current credit crisis)!
* What banks will not tell you when it comes to obtaining cash!
* What are the current criteria to obtain cash, credit score from revolving debt limits!
* Plus much much more!

I literally invested over $15K of my own money on these 4 events and products to grow NCP and Fast Business Credit and I wanted to pass on the best strategies and resources to you as a New Year’s Gift!

I have over 100 typed pages of notes from all the events with great resources and strategies!

There will be no selling on this webinar, no product to purchase at the end (I know it does not sound American not to have an offer). These are pure tips and strategies to help grow your business in 2009!

Here are some of the strategies that you will learn:

-The best internet resources to grow your business and bring massive traffic!

-How to use for video, article and other types of marketing. Plus what is not working!

-A great resource that will finance your services for your clients up to $8,500!

-Advanced copywriting tips to help your conversion with your sales letter and online copy writing!

-Resources to help your online conversions!

-Update tips and strategies on joint ventures and other profitable relationships!

-Tips on developing an information product to your business!

-Best ways to add continuity to your business and how to position that in what you sell already!

The best pattern to develop more online revenue for your offline business.

NCP is adding to our business in 2009 and using this same patterns to provide more front end solutions for entrepreneurs and new affiliate programs! Click below to register!

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Click Here To Register:

(There is no fee for this plus there will be no offer or sales at the end,
my gift to you!)
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^* FICO, myFICO, and 300-850 score are trademarks and/or registered trademarks of Fair Isaac Corporation.