Own your own corporation by Garret Sutton

This is another of the rich dad books. In this case, the book from one of "rich dad advisors", thus it doesn't have the same style of the original rich dad books by Robert Kiyosaki.

The book has many examples of how to structure a business with different types of corporations, so that you can have the best protection of your financial estate, as well as the minimum amount of taxes. And as could have been expected, the main technique to minimize state taxes provided in this book is to use a Nevada corporation (of the C type).

Thuroughout the examples, the author describes how two ficticious couples could develop their business using C corporations, S corporations, and LLC coporations.

On the down side, the book spends a lot of time explaining rules for opening the company's capital in the NASDAQ. I think this is interesting, but of little use in practice: if you have a company that will go public, you will need very good lawyers, not a cheap book from your local bookstore...

A good point in this book, though, is the chapter that describes specific laws in each state. Most books don't have a good coverage of the peculiarities of each state for the purpose of corporations and LLCs.

Tags: Own, your, Own, corporation, Book, Review
Article created on 2012-09-12 21:04:28

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