“The 10 Overlooked LLC
Issues People Screw UP!”
Issue #8
Tax Deductibility of Your
LLC Formation
You’ll be shocked to learn that the price you pay to set up your LLC isn’t even tax deductible. Your high setup bill to the internet legal sites, which only get you half way there, isn’t even tax deductible.
You’re guessing that should be the most basic of tax deductions. Well, it’s not. That’s the law, and everybody “forgot” to mention that to you.
The IRS looks at it and denies the deduction, because when you set up an LLC you are “creating an asset.” It’s not an expense. It’s a purchase of an asset, and you don’t get a tax deduction to buy an asset.
So, how do you at least get Uncle Sam to give you a tax break on your LLC formation and the initial operation of the company?
Issue 8 in the “The 10 Overlooked LLC Issues People Screw UP!” series shows you how to get Uncle to help with your LLC expenses.
Actually, you are creating an asset when you create an LLC. In fact, it may be the most valuable asset you have.
As an asset, you need to think of it a little differently. It may be the asset that plunges your family into an estate tax and probate nightmare when you die.
You’ve got to think how to keep it out of Uncle’s hands. How you set it up will make a big difference in the asset protection you get, how much money you make, how much the lawyers get when you die, and how much Uncle gets.
Many families literally lose the business when they have to pay 50% to the IRS after Dad’s death.
It all depends on the set up. The immediate deductibility is also dependent upon how you do the set up. Your lawyer’s fees and internet “form” fees are not deductible. They have to be amortized.
The LLC Wizard is 100% deductible. You will have to pay the state fees, but that’s all you have to amortize when you use the LLC Wizard System.
Tomorrow: Reading Your LLC’s Bible – the Operating Agreement
You Can Get Double the Asset Protection
I’m seeing more people lose their business these days, because they get in trouble personally, than I am seeing people losing their personal assets because their business gets into trouble.
How do you protect your business from your personal problems? There’s a whole world out there that your advisers have never warned you about.
If you haven’t done so already, pick up the How to Double Your Asset Protection eBook, and get all the details your lawyers never showed you. If you aren’t enlightened and think you can get the double asset protection, just request a refund. It’s that simple.
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Tomorrow : LLC Overlooked Issue No. 9, “Reading Your LLC’s Bible–the Operating Agreement”
Everything You Need to Know to Double
Your Asset Protection Using a Carefully
Designed LLC – How to Double Your
Asset Protection eBook
eBook Digital Download ($14.99): “How to Double Your Asset Protection” in digital format for immediate download. Exposes the double asset protection potential of an LLC and what your advisors have never told you.
LLC Wizard System
Establish your own LLC (create as many LLCs as you want in any state you want) and follow all the formalities to get maximum asset protection. Plus make thousands more each year without working harder, just using the laws.
Course includes:
– 6 hours of CD instructions
– Computer CD with all the necessary LLC legal forms and ongoing maintenance forms
– Tax forms with line by line instructions
– It’s also tax deductible!
All this for only $1497
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5 FREE GIFTS!!
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Special Bonus No. 1
Phone Support
LLC Wizard Special Bonus No. 1: If you have a question, you can call our support line and there is no charge to have your questions answered by an attorney. THERE IS NO CHARGE for the call. We can’t give you “legal advice”, but we will answer your questions and get you back on track. (That’s the legal disclaimer. You knew there had to be one.) We can’t put a value on this service, but we do know it has been worth thousands of extra dollars every year to many who have called.
Special Bonus No. 2
“How to Double Your Asset Protection” eBook
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Special Bonus No. 4
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Special Bonus No. 5
Free Shipping
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When you get the Bonuses and take your Tax Deduction, your total investment in the LLC Wizard is effectively under $179!! Can you afford to wait any longer?
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