Avoid the #1 Mistake Entrepreneurs Make When Setting Up Their Businesses | Garrett & Ted Sutton

Описание: Asset protection for small business isn't optional—it's the difference between building wealth and losing everything. Garrett Sutton and Ted Sutton discuss the critical importance of asset protection for entrepreneurs and real estate investors. They explain how without proper limited liability, personal assets are vulnerable when a business is sued, offering essential business advice. The conversation also provides insights into corporate law and the implications of the Corporate Transparency Act, including FinCen reporting, crucial for small business owners.

⏱️In this episode, Scherrie, Garrett and Ted discuss:
00:00:00 Introduction to LLC asset protection for small business owners
00:00:40 Why entrepreneurs need limited liability protection before their first sale
00:01:20 Garrett Sutton's journey becoming Robert Kiyosaki's asset protection advisor
00:02:00 Start Your Own Corporation by Garrett Sutton and Rich Dad partnership
00:02:40 Ted Sutton's transition from mining engineering to asset protection law
00:03:40 The DIY trap means doing yourself in with entity mistakes
00:04:30 Why proper entity foundation prevents catastrophic business failures
00:05:20 Common entity setup mistakes that conflict with tax planning
00:06:00 How non-specialist attorneys create expensive asset protection gaps
00:06:50 Wyoming versus Nevada versus Delaware for anonymity and protection
00:07:30 Wyoming's $62 annual fee advantage for LLC asset protection for small business
00:08:10 Corporate Transparency Act impact on beneficial ownership privacy
00:09:40 Trump administration pause on Corporate Transparency Act requirements
00:10:10 New York LLC Transparency Act launching January 2026
00:11:00 March 2026 cash real estate transaction reporting with FinCEN
00:11:40 $5,000 daily penalties for failing to file required reports
00:12:10 Building your money team with CPA, banker, and insurance broker
00:13:00 Tax planner versus tax preparer for asset protection strategy
00:14:20 Trust and LLC integration as Batman and Robin protection strategy
00:15:00 Avoiding probate court through proper trust ownership structures
00:16:00 Sole proprietorship's five times greater IRS audit risk exposure
00:17:10 Wyoming's $62 annual fee as insurance premium against liability
00:18:30 S corp versus C corp taxation for small business owners
00:19:50 Saving 15.3% payroll tax through S corp reasonable salary structures
00:21:30 Real estate investor entity structures for maximum tax advantages
00:23:00 Garrett Sutton's 11 books on asset protection and entities
00:23:20 Tendinero Official YouTube channel for free financial education
00:24:00 Greenback's Book of Law teaching students legal fundamentals
00:26:20 Protecting digital assets and seven-figure crypto income streams
00:27:20 Wyoming LLC charging order protection for cryptocurrency holdings
00:29:20 Debtor's exam reality and how creditors discover crypto assets
00:30:40 $500 umbrella policy provides million-dollar coverage for entrepreneurs
00:31:40 Wyoming holding LLC structure for multi-state real estate portfolios
00:33:00 Why Wyoming holding entities must remain passive for protection
00:34:40 Garrett Sutton's biggest regret about not buying real estate earlier
00:35:30 Building your entrepreneurial team for sustainable portfolio growth

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