Own Your Own Corporation Why the Rich Own Their Own Companies and Everyone Else Works for Them Rich Dads Advisors
September 14, 2009 by sgtwak
Filed under Uncategorized
Own Your Own Corporation reveals how private citizens can take advantage of incorporating themselves and their business to save thousands of dollars in taxes and protect themselves against financial disaster.
User Ratings and Reviews
4 Stars Good introduction
I have personally set up companies with different structures such as corporations, limited liability companies, and assumed business units. I found this book to be very accurate and simple to read. Different legal structures protect the assets differently, but I will say that there is no structure to protect anyone 100% of the time. If you are doing questionable or illegal activities, the judge will pierce through the protection. So don’t think that once you set it up you are protected no matter what.
I really liked the section where the author explained different advantages and disadvantages of various legal structures because they are all different and are not suitable for every situation. I don’t think this book will make anyone know enough to set up their own LLC or corporation, but it is a good start. I never used an attorney to do it on my own, but I had to educate myself beyond reading this book; however, it gave me enough knowledge to have an idea of where to start.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
4 Stars Another guide to owning your corporation
Ok another book all about your own corporation…..with a twist on getting you to understand the advantages of owning your own.
4 Stars Own Your Own Corporation
I found this book excellent for my purpose. It advises the reader about reorganizing their businesses for the necessary legal protection. It also advises on how to arrange finance or team up with friends for business
5 Stars Informative and Logical
As a general practitioner, not a specialist in asset planning but nevertheless having to advise clients with business concerns and real estate interests, this book is the best on the subject that I’ve come across. It’s actually more informative and logical than bar association materials I’ve referenced in the past.
2 Stars Fun read, but take heed…
I love the Rich Dad books because they’re motivational as well as interesting, but there has to be a word or two of caution.
Concerning incorporating properties…this seems rather specious. You don’t have to go to the trouble of incorporating each property to keep the fear of having personal assets taken through a liability claim; that’s why you carry insurance, and a lot. A big policy is more than sufficient, and most courts will not allow lawsuits from taking your primary home.
Time being money, it’s much faster and easier to sign a policy than to do the tedious and never-ending paperwork to incorporate a property. There may be rare circumstances when you would (a real estate lawyer is worth the consultation) but for 99.9999999% of the people in the world, No.
