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

Fast Business Start up

“The Top 20 Mistakes Before And After” is designed not as a static report, but as an interactive tool for you to use to understand your options, analyze your strategic business design and spot areas of vulnerability, building as you go to create a comprehensive “map” to use in your corporate formation planning. So close your office door for a short time, pour yourself your favorite beverage, and settle back with pencil in hand. You’re about to spend perhaps the most valuable 20 minutes of your business career.

There are three steps in using this material:

Step 1: Read each Costly Mistake (divided into 10 “Befores” and 10 “Afters”) and answer the question that applies to each issue.

Step 2: Tally up your results, then assess your Asset Protection and Business I.Q. Knowledge. Take a moment to fully absorb the insight you’ve gained, and the advantages of having an experienced, “birds-eye view” of your business strategies.

Step 3: Build your strategic plan, and enjoy the confidence of knowing you’re protecting your business and assets.

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

Join me and my team of trainers and coaches for three business life-changing days in Las Vegas as we mentor you in the most powerful marketing strategy to put massive profits in your business.

Is this event for you?

The Ultimate Joint Venture Boot Camp is a ONE-TIME only event designed to explode your business!

Is your business struggling? Do you need more clients, more sales in your business? What approach will you choose? The most expensive approach; traditional advertising and marketing? ….

If money is tight for you, will you become another statistic? As you know 95% fail within 5 years! You can NOT afford for your marketing action NOT to work. Instead of doing the same old, same old that is NOT working…give yourself, your family and your future a real chance.

Learn a simple and most powerful form of leverage to grow your business, Joint Ventures (strategic alliances and host beneficiary relationships).

When is the last time you took three solid days to master one strategy? Especially one most important to grow your business when money is tight? A couple of years, five years ago, maybe never?

The definition of insanity? You know it! It’s doing the same thing over and over again and expecting different results! Step out of your comfort zone and make a decision to invest perhaps the most important three days of your business career at The Ultimate Joint Venture Bootcamp!

Master the highest form of leverage and also rejuvenate yourself and your business so you are not just another sad statistic in 2010!

• Ready for “VERY Advanced System for Joint Venture Training” – We are going where no one has gone before to give you the Joint Venture Blue Print;
• Open to implementing joint venture SYSTEMS…yes, SYSTEMS, for making big money (get ready to pay a lot in taxes in 2011!);
• Accustomed to earning six figures (or even seven figures), or very sincerely interested in doing whatever it takes to get to that level ASAP with less headaches;
• Aware of the New Financial World in which we currently operate, and what you must do differently to excel;
• Absent “conflicting financial beliefs” about generating huge profits for you and your business;
• Eager for “MAXIMUM speed,” changing and adapting, accelerating goal achievement.

If the video above doesn’t show, you can still find out the best state to incorporation your business by clicking this link:

“Discover how to Build Vendor and Cash Lines of Business Credit.” Video