Forming a C corporation to take advantage of fringe benefits when your business doesn’t fit the C corporation model. (Can you spell nightmare?)

Asset Protection and Business I.Q.

Question # 6: Which are reasons NOT to form a C corporation?

A) C corporations have lower tax brackets than individuals
B) Double taxation
C) Too much profit to reinvest
D) When a flow through entity may make more sense
E) Focusing on business expenses may be more important than fringe benefits
F) All the above
G) A and B
H) B, C, D and E

Costly Mistake Number 7:

Forming an entity in Nevada and NOT knowing when to foreign register, and for what reasons. (“Can’t you just get a mailbox?”)

Asset Protection and Business I.Q. Question # 7: Which are common reason(s) that would cause an entity to need to foreign register (or qualify) to do business in another state?
A) An employee in another state
B) An office located in another state
C) Equipment located in another state
D) An independent contract in another state
E) All of the above
F) A, B, and C

Costly Mistake Number 8:

Forming an entity and hiring independent contactors and employees WITHOUT knowing the rules. (It makes a difference as to which states you’ll need to foreign register.)

Asset Protection and Business I.Q. Question # 8: Which statement is false concerning employees?

A) They create less liability than independent contractors for your business
B) Employees create nexus for your company in the state they are doing the work
C) Your company will pay half of the 15.3% payroll taxes on each employee
D) The IRS is mostly attempting to convert employees to independent contractors

Costly Mistake Number 9:
Forming an LLC taxed as a partnership WITHOUT having an”official” partner. (Maybe the IRS won’t notice.)

Asset Protection and Business I.Q. Question # 9: What entity or person (assuming you are one of the partners) will qualify as a partner for an LLC taxed as a partnership?

A) A single member LLC owned by you
B) An S corporation owned by you
C) A C corporation owned by you
D) A foreigner
E) All of the above
F) B, C and D

Costly Mistake Number 10:

Selecting an inexperienced or disreputable company to help you form your entity. (There’s no excuse for not checking references with the BBB, local professional organizations and testimonials.)

Asset Protection and Business I.Q.
Question # 10: Which characteristics should be considered when choosing an entity formation company?

A) A company that has been in business for at least five years
B) A company that has a national known attorney
C) A company that has research and invests in internal training
D) A company that provides other business development services
E) A company that is recommended by top local organizations
F) All of the above

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 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

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

Does Your Business Need a Financial Rescue? Are you debt-ridden and unable to see the light at the end of the tunnel?

What if you could learn the steps to restructuring your business debt to give your business more cash flow and breathing room? Would that help you stay in business and on your way to success?

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Copy and paste the URL below into your browser and select
your enter key to  register for this powerful teleseminar
(space is limited):  http://budurl.com/CorporateTurnaround

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You will have been personally invited to attend a preview
of one of our powerful monthly teleseminars to grow your business.

This is part of our Top 5% Club membership

(go to http://www.nvinc.com/Top5PercentClubCoachingProgram.htm

for more details to subscribe to this program).

When you become an active member you will receive the CD and transcripts of the call plus other tools to grow your business and protect your assets).

GREAT NEWS! On June 9th at 6 pm PDT/9 PM EDT, I will be interviewing Jerry Silberman, CEO and Founder of Corporate Turnaround, the pioneer in the debt
restructuring industry.

Jerry is considered THE PRE-EMINENT AUTHORITY in helping small business owners emerge from overwhelming debt to operating within their means and a budget that will work for the business. He has co-authored “Small Business Survival Book”, which has been endorsed by Steve Forbes.

You will get a chance to hear from the absolute expert with tips to negotiate debt with your vendors and business credit cards to get your business in a position to survive and to help avoid being another statistic (over 40,000 businesses close their doors or file for bankruptcy each month).

Here are the essential strategies and insights you will learn on this powerful teleseminar on June 9th to help your business properly restructure its debts to save your business!
• Discover the real meaning of debt restructuring for a small business owner and what are some of the inside secrets to win at this game!
• You will learn the options when it comes to debt restructuring. Is this something you should do on your own, and if so, what are the guidelines to help you stay out of trouble.
• Discover why 8% is a major number to determine your ability to work with your current creditors  and what your options are.
• Determine which creditors should be restructured and which ones SHOULD NOT BE!

• Learn the secret formula to help determine your monthly budget and what you can afford to pay on a monthly basis.
• Learn some key tips in the settlement offer to give you a chance to win!

• How does your business structure a repayment plan with your vendors and creditors?
• Plus many, many other strategies to help your business BEFORE you have a problem.

**********************************************************************************
Copy and paste the URL below into your browser and select
your entry key to register for this powerful teleseminar
(space is limited):
http://budurl.com/CorporateTurnaround
**********************************************************************************
Guest: Jerry Silberman has pioneered the debt restructuring industry for small businesses as well as revolutionizing the debt collection industry.

In 1990 he started a nationwide collection agency. He went on to found Corporate Turnaround in 1998. For 20 years, he has helped thousands of small businesses renegotiate affordable terms with their creditors.  Corporate Turnaround has resolved over 25,000 debts.

He is considered the pre-eminent authority on helping small businesses emerge from overwhelming debt to operating within their means.

Corporate Turnaround’s success stories have been profiled in both The NY Times and Business Week. Mr. Silberman has lectured across the country and has been a featured expert for: Fox News, Fox Business, MSNBC, The Wall St. Journal, US News and World Report, Forbes, Inc. Magazine, Entrepreneur, Bloomberg TV, The CBS Evening News, WABC-TV, News 12 New Jersey and on numerous radio shows.

He co-authored “Small Business Survival Book”, which is endorsed by Steve Forbes. He has written numerous articles for magazines including The US Chamber of Commerce Magazine.  To exceptional reviews, Mr. Silberman has addressed the 2008 and 2009 ASBDC National Convention and SBDC State and Regional meetings in New England, Maryland, North Carolina and New Jersey.

Host: Scott Letourneau, CEO of Nevada Corporate Planners, Inc. You will learn from Scott’s diverse expertise and his comprehensive and ever-growing list of powerful business resources.  These are the very elements that have allowed his 5,000+ clients, both domestic and abroad, to incorporate their business with confidence, “propelling their business on a fast track to profits!”
Scott has a BA in Finance and is the author of  “The Insiders Guide to
Incorporating Your Business and Protecting Your Assets!”  He is also a
contributing author for the new book from Entrepreneur Magazine’s Startup series; “Start Your Own Information Marketing Business – Your Step-by-Step Guide to Success.”
Register Today for this Powerful Teleseminar on June 9th at 6 pm PDT to learn how your business can pay its debts that it cannot afford!

Dedicated to your success!

Scott Letourneau
CEO

P.S. Register online now for this critically important call, and be sure to
print this page as a reminder for this outstanding event!

**********************************************************************************
Copy and paste the URL below into your browser and select
your entry key to register for this powerful teleseminar
(space is limited):
http://budurl.com/CorporateTurnaround
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Nevada Corporate Planners, Inc.
Fast Start to Profits™!

7477 W. Lake Mead Blvd. Ste. 170
Las Vegas, NV 89128
(888)627-7007; (702)367-7373
(702)367-7373    Ext. 1103
Fax: 702-220-6444
www.nvinc.com
www.FastBusinessCredit.com

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