Posted July 21, 2020 by James Billings
Learn why what you think you know about Corporations and LLCs is wrong.
Why are investors quitting traditional business structures such as corporations and LLCs? It’s because of the red tape, fees, franchise taxes and public disclosures demanded by the Secretary of State.
For years we’ve been told by the secretary of state and lawyers that corporations and LLCs are the best way to conduct business. It might work for some people but not those who value asset privacy, time and money.
But this idea about Inc/LLCs , James points out, is just plain wrong these days because the internet has made it easy for hackers and busybodies to lookup your business and personal information on the Secretary of State’s website. You can also find inc/llc real estate on the County Recorder’s website.
Neither lawyers nor governments tell you, or for that matter even know there’s a better, simpler way – the business trust.
A business trust gives you the best features of corporations and LLCs for doing business while providing asset privacy, safety with anonymity, zero red tape, and tax savings.
James also describes a real world case in which a real estate investor saved $21,000 in annual franchise taxes by switching from LLCs to a business trust.