OWN YOUR OWN CORPORATION reveals the legal secrets and strategies that the rich have used for generations to run their businesses and protect their assets. Written in a clear and easily understandable style, and now completely revised and updated to reflect important changes in rules and regulations, OWN YOUR OWN CORPORATION provides the necessary knowledge to save thousands of dollars in taxes and protect your family assets from the attacks of creditors.
OWN YOUR OWN CORPORATION illustrates how
Select the best entity for your own personal strategy
Maximize the incredible benefits of corporations for asset protection and tax savings
Garrett Sutton, Esq. is a Rich Dad Advisor, a nationally acclaimed corporate attorney and asset protection expert.
A graduate of the University of California, Berkeley and Hastings College of the Law, the University of California’s law school in San Francisco, Garrett has written a number of books guiding entrepreneurs and investors. Garrett’s best sellers include: Start Your Own Corporation, Loopholes of Real Estate, Writing Winning Business Plans and Run Your Own Corporation in Robert Kiyosaki’s Rich Dad Advisor series. Garrett is also the author of How to Use Limited Liability Companies & Limited Partnerships and the co-author of Finance Your Own Business.
Garrett is the founder of Corporate Direct and Sutton Law Center, which since 1988 have provided affordable asset protection and corporate formation and maintenance services for investors around the world.
His articles and quotes have been published in The Wall Street Journal, New York Times, CBS.com, Time.com and Credit.com. More information is found at CorporateDirect.com and Sutlaw.com. Garrett serves on the boards of the Birmingham, Alabama-based American Baseball Foundation and the Nevada Museum of Art in Reno, Nevada. He is married with three children and lives in Reno, Nevada.
A dense read for sure. If I got anything out of it, it's to hire a lawyer experienced in the setting up of LLCs, LPs, corporations, etc, and to get a good accountant also experienced in this area. There are many legal liabilities that could come back to haunt you if you don't set things up correctly in the beginning. Overall, thorough and walks the reader through the steps of incorporation. Also provides useful tips and anecdotes to help the reader gain deeper and more personal understanding.
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Own Your Own Corporation is a practical and insightful guide on why owning a corporation is a game-changer for building wealth and protecting assets. The book explains how the wealthy use corporate structures to minimize taxes, safeguard personal wealth, and create long-term financial success. It provides clear steps on how anyone can start and benefit from owning their own business entity, whether you’re an entrepreneur or just looking to secure your financial future. If you're seeking a strategic way to shift from being an employee to becoming an owner, this book offers valuable, actionable advice.
Great book to understand and grasp the types of entities available and defining its characteristics. It’s not a how to step by step guide to incorporate a business. However, it gives ample information to guide you to the entity that is most favorable to your needs. I would highly recommend that you get a more recent copy—if available—when you’re close to open or incorporate your own business.
This was probably one of my least favorite Rich Dad series books. Although the format of the book is very similar to the other 'rich dad' books it wasn't as enjoyable to read. Maybe if you are an attorney you'd enjoy it more.
Learn how the rich get richer and the poor get poorer. This book gives you the secrets to how those in the know lower their taxable income doing the same things that others have to pay out of pocket to do.
Great book. A must for someone who wants to start a business or wants to keep his assets safer. Nicely explains different types of business entities and their pros and cons. Only issue is the rules discussed are of US, so one will have to be careful to check current rules of his own country.
This book helped in the decision whether to incorporate our rentals. In the end due to the total value of all properties, a simple umbrella insurance was sufficient. This pertains to my financial factors. Not the same for everyone else.
Basics of starting a company. Good reinforcement learning. Nothing you can’t get from doing research online. Somewhat dated with the new tax laws in place but still a goodie!
A good primer on things to look at when setting up a business, explains well the types of business entities available, their pros and cons. Worth going through as a workbook of sorts.
I think I'm being sarcastic with my "prize inside" tag, since it has a link to an audio interview bonus as thanks for reading the book. The link is expired as of checking just now, though. Come on, it's ONLY a 23-year-old link by now! Why couldn't they keep it running?
That said, I was going to give it a higher rating as benefit of the doubt, since the parts I read DID read well, but I feel like the broken link deserves a deduction. The rest, while I can understand a few parts that explain why sole proprietorship is bad (as is basic failure to consider everything needed to run a business and not doing extremely obvious things like running a background check on a potential new employee), I'm confused about things like the buy-sell agreement... I can sort of follow the example, but probably because I forget a very lot of things almost as soon as I read them when it comes to legalese, I couldn't follow the actual example agreement shown. Sounds like I'll be in trouble if I ever start a business!
The book's subtitle seems, then, to suggest that the rich own their own companies because they can read legalese and find all the loopholes that benefit them, while "everyone else" either can't parse it or don't want the hassle of it. I'm sort of both types of "everyone else" for the purposes of this exercise: There's an amount that I can skim any agreement put in front of me to see anything that particularly jumps out at me as bad, but it's tedious, and a very lot of the time, it won't matter whether I understood what I signed or not, because it's never an issue, and/or (hopefully) the other parties involved are trustworthy enough to not screw me over the first chance they get.
I think I would put more effort into reading this had I actually the motivation to own a business, rather than have a decent enough salary and set work hours that allow me to go home and NOT WORRY IF I'M GOING TO BE SUED for hiring a sex offender (as per the "sole proprietor" example).
Not bad book to get you start thinking about the importance of protecting yourself via corporations for personal protection as well as better tax planning - obviously this is out of date or one must remain updated about the latest laws governing your specific country or state - but good as an intro in my opinion to get you thinking the right way about this
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This book is not for everyone, why you ask ! This is not an inspiring novel, on how to get rich, as the name depicts "Rich dad advisory" is here to advise you to make up your mind if you're going to start your own company.
Mostly helpful for the people live in America. Others can just make notes on how different companies work if you don't already know.
As a finance student or if you're planing for a start-up, this might help you knowing the ins and outs of a going concern.
This book is great to enhance your knowledge for better financial protection and understanding. But if you aren't an US citizen you will not find it interesting as it only talks about the American financial laws and regulations and it would be bit tough to correlate its application with your country.
For me, this was a very useful introduction of S-corporations, C-corporations, LLC's, and LP's and the pros and cons of each. The author used case studies to illustrate the technical jargon, which made it very helpful for me to understand.
Not exactly brilliant prose, but very simple explanation of corporations, the benefits, etc. It would be better if there were a few more clear next steps on how to begin the process, but there are other books for that.
It is always a good idea to separate your assets from yourself in case of a lawsuit! They can't touch your other assets if they sue you over that property that is inside a good ol LLC.