Avoid the #1 Mistake Entrepreneurs Make When Setting Up Their Businesses | Garrett & Ted Sutton скачать в хорошем качестве

Avoid the #1 Mistake Entrepreneurs Make When Setting Up Their Businesses | Garrett & Ted Sutton

Asset protection for small business isn't optional—it's the difference between building wealth and losing everything. Garrett Sutton and Ted Sutton discuss the critical importance of asset protection for entrepreneurs and real estate investors. They explain how without proper limited liability, personal assets are vulnerable when a business is sued, offering essential business advice. The conversation also provides insights into corporate law and the implications of the Corporate Transparency Act, including FinCen reporting, crucial for small business owners. ⏱️In this episode, Scherrie, Garrett and Ted discuss: 00:00:00 Introduction to LLC asset protection for small business owners 00:00:40 Why entrepreneurs need limited liability protection before their first sale 00:01:20 Garrett Sutton's journey becoming Robert Kiyosaki's asset protection advisor 00:02:00 Start Your Own Corporation by Garrett Sutton and Rich Dad partnership 00:02:40 Ted Sutton's transition from mining engineering to asset protection law 00:03:40 The DIY trap means doing yourself in with entity mistakes 00:04:30 Why proper entity foundation prevents catastrophic business failures 00:05:20 Common entity setup mistakes that conflict with tax planning 00:06:00 How non-specialist attorneys create expensive asset protection gaps 00:06:50 Wyoming versus Nevada versus Delaware for anonymity and protection 00:07:30 Wyoming's $62 annual fee advantage for LLC asset protection for small business 00:08:10 Corporate Transparency Act impact on beneficial ownership privacy 00:09:40 Trump administration pause on Corporate Transparency Act requirements 00:10:10 New York LLC Transparency Act launching January 2026 00:11:00 March 2026 cash real estate transaction reporting with FinCEN 00:11:40 $5,000 daily penalties for failing to file required reports 00:12:10 Building your money team with CPA, banker, and insurance broker 00:13:00 Tax planner versus tax preparer for asset protection strategy 00:14:20 Trust and LLC integration as Batman and Robin protection strategy 00:15:00 Avoiding probate court through proper trust ownership structures 00:16:00 Sole proprietorship's five times greater IRS audit risk exposure 00:17:10 Wyoming's $62 annual fee as insurance premium against liability 00:18:30 S corp versus C corp taxation for small business owners 00:19:50 Saving 15.3% payroll tax through S corp reasonable salary structures 00:21:30 Real estate investor entity structures for maximum tax advantages 00:23:00 Garrett Sutton's 11 books on asset protection and entities 00:23:20 Tendinero Official YouTube channel for free financial education 00:24:00 Greenback's Book of Law teaching students legal fundamentals 00:26:20 Protecting digital assets and seven-figure crypto income streams 00:27:20 Wyoming LLC charging order protection for cryptocurrency holdings 00:29:20 Debtor's exam reality and how creditors discover crypto assets 00:30:40 $500 umbrella policy provides million-dollar coverage for entrepreneurs 00:31:40 Wyoming holding LLC structure for multi-state real estate portfolios 00:33:00 Why Wyoming holding entities must remain passive for protection 00:34:40 Garrett Sutton's biggest regret about not buying real estate earlier 00:35:30 Building your entrepreneurial team for sustainable portfolio growth #financialeducation #assetprotection #playbigfaster 👇 Tap in and let us know your biggest takeaway in the comments.