Free Video Course: Unlocking the Hidden Powers of Your Company

Provided in partnership with Incorporate For Freedom and MyLLC.com

*FREE with any new order placed at MyLLC.com

Congratulations on taking the first steps to becoming a new business owner! In this free 35-minute video, Mark Lewis and MyLLC give you an introduction to business ownership.

Mark shares his 20+ years of experience assisting businesses with incorporation needs, structure consultations, and compliance monitoring. You'll learn the importance of compliance, tax savings, and asset protection. Learn more about limited liability, separating ownership from control, and various types of business income. We'll also cover business deductions and guide on maintaining proper records.

What's Inside:

1. Importance of Compliance Address common fears about business ownership, such as compliance requirements and IRS concerns. He assures viewers that understanding these requirements is crucial for success.
2. Immediate Actions for New Business Owners Important steps new business owners should take include filing the Beneficial Owner Report, setting up a business bank account, and obtaining an EIN.
3. Compliance Requirements Learn compliance for maintaining limited liability protection, including state updates, accounting practices, share management, and the importance of annual meetings and proper documentation.
4. Business Taxation Learn about different tax structures for LLCs and corporations, including pass-through taxation and corporate tax rates, the concept of S-Corporation election for potential tax benefits.
5. Separating Ownership from Control John D. Rockefeller's principle of 'own nothing, control everything' and how it applies to business structuring for asset protection and strategic flexibility.
6. Types of Business Income Learn various types of business income, including active income, passive income, portfolio income, and capital gains and the importance of understanding these categories for tax planning.
7. Business Deductions What qualifies as a deductible expense and provides examples of the importance of keeping accurate records for potential audits.
8. Next Steps Learn how to find more video resources like this on specific aspects of business ownership available here at MyLLC.com

*FREE with any new order placed at MyLLC.com