This week I received a really important question:
What is a creditor-proofing plan?
It is a legal plan allowing you to protect your personal and business assets and benefits from various tax exemptions. You can achieve protection through the way you’re structuring your business, by changing who owns what. By consulting a business lawyer, you may be able to save Thousands of Dollars in taxes.
Every entrepreneur that I know is working extremely hard and are fully dedicated to their businesses. For most of them, they are so much busy running their businesses and keeping cash flow positive that they are sometimes loosing sight of extremely important issues. I mean protecting what they earned by working hard and taking risk. We all know that it is impossible to predict the future; in any event, what we can do is being diligent and proactive with our actions. The objective of creditor proofing plan is to highlight some easy ways to structure your businesses in order to protect yourself and your businesses against creditors and, in the process used at your advantage various tax exemptions.
1 comment:
Great post Hugues. It is so true that we business owners are often so engaged in our business, and so 'blue sky' in our thinking, the last thing we worry about is what will happen if it doesn't work out.
Great wake-up call!
Keep up the great posts.
Post a Comment