Protecting Your True Assets
I'd like to say hello to all my friends and lovers (just kidding, Mom and Dad!).
Today, as you all know, is Father's Day, time to honor the opposite side of the parenting spectrum. That's right, it's time to give a big sa-lute to the person who makes living on this planet possible (literally and figuratively), the other side of the gold coin of parenthood, the one who helps to bring home the bacon, and help fry it in the pan, since most mothers work outside the house these days. Aw, yes, for all intents and purposes, dear old Dad is the most kindest loving, and important person God has ever put on this planet. (Yes, I'm aiming for a raise in my allowance!) So here's to you, Dad, of which a lot more swell ones we could sure use more of in this world today.
And now, we get into something a lot more serious. Today, we are going to talk about another scheme that's going around these days, this particular one being aimed at people who own their own small business or who want to start their own small business. Do you know why everybody wants you to start your own Limited Liability Company (LLC), now matter how small it might be? No, it's not because they want to help you make more money, but it's because they want to get more money out of you! You see, we found this out the hard way last year, when a friend of mine turned her own dream business into an LLC through a well known legal company, so well known that I won't disclose the name in this blog, but this friend thought that, having a legal company, she would finally start making major money.
Well, it turns out that, after she paid her money (which turned out to be close to five hundred dollars instead of the two hundred they promise you in the ads, with all the added "extras" and all) that she found out that every year, around tax time, she will have to pay a state LLC tax fee of, and get this friends, eight hundred dollars! And that's in addition to the regular income and state tax everybody has to pay every April! Yes, my friends! That's the reason why they want every business, large and small, to become an LLC! Not to protect your personal assets, like they claim in the ads, but so that the state can collect $800 a pop each year from every legal LLC doing business in that state! Doesn't their willingness to help small business just touch your dear little hearts? Everybody knows that you can protect your personal assets just by being smart! After all, the were no LLCs when Ford and Carnegie made their millions, and your business doesn't need to be an LLC to be successful either. These legal companies want you to think that becoming an LLC is the way to keep what you earn, but let me present to you a choice: you can have your business with the LLC title in front of it, and pay $800 a year, or you can just be an ordinary business, and keep that money year after year. After all, it would be much better for you to have that money in your coffers than the states, wouldn't it? Those companies make you feel that you don't have a choice, but now, you do, and I know you'll make the wise one.
Gotta go. I gotta help make the Father's Day dinner. Until next time, stay well, and Keep well!
Sincerely,
Marley Sue
Today, as you all know, is Father's Day, time to honor the opposite side of the parenting spectrum. That's right, it's time to give a big sa-lute to the person who makes living on this planet possible (literally and figuratively), the other side of the gold coin of parenthood, the one who helps to bring home the bacon, and help fry it in the pan, since most mothers work outside the house these days. Aw, yes, for all intents and purposes, dear old Dad is the most kindest loving, and important person God has ever put on this planet. (Yes, I'm aiming for a raise in my allowance!) So here's to you, Dad, of which a lot more swell ones we could sure use more of in this world today.
And now, we get into something a lot more serious. Today, we are going to talk about another scheme that's going around these days, this particular one being aimed at people who own their own small business or who want to start their own small business. Do you know why everybody wants you to start your own Limited Liability Company (LLC), now matter how small it might be? No, it's not because they want to help you make more money, but it's because they want to get more money out of you! You see, we found this out the hard way last year, when a friend of mine turned her own dream business into an LLC through a well known legal company, so well known that I won't disclose the name in this blog, but this friend thought that, having a legal company, she would finally start making major money.
Well, it turns out that, after she paid her money (which turned out to be close to five hundred dollars instead of the two hundred they promise you in the ads, with all the added "extras" and all) that she found out that every year, around tax time, she will have to pay a state LLC tax fee of, and get this friends, eight hundred dollars! And that's in addition to the regular income and state tax everybody has to pay every April! Yes, my friends! That's the reason why they want every business, large and small, to become an LLC! Not to protect your personal assets, like they claim in the ads, but so that the state can collect $800 a pop each year from every legal LLC doing business in that state! Doesn't their willingness to help small business just touch your dear little hearts? Everybody knows that you can protect your personal assets just by being smart! After all, the were no LLCs when Ford and Carnegie made their millions, and your business doesn't need to be an LLC to be successful either. These legal companies want you to think that becoming an LLC is the way to keep what you earn, but let me present to you a choice: you can have your business with the LLC title in front of it, and pay $800 a year, or you can just be an ordinary business, and keep that money year after year. After all, it would be much better for you to have that money in your coffers than the states, wouldn't it? Those companies make you feel that you don't have a choice, but now, you do, and I know you'll make the wise one.
Gotta go. I gotta help make the Father's Day dinner. Until next time, stay well, and Keep well!
Sincerely,
Marley Sue
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