Description
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In this video, I’m breaking down one of the biggest misconceptions about LLCs… that simply forming one automatically protects your personal assets.
14:25 WATCH NEXT https://www.youtube.com/watch?v=2k4DHZySx9U
I'll explain how creditors can reach your personal bank accounts, home, and other assets—and introduce the six most common mistakes that can quietly destroy your liability protection.
While most business owners believe an LLC creates an impenetrable legal shield, very few realize how easy it is to lose that protection. In many cases, it’s not fraud or criminal conduct that puts your home, savings, and personal bank accounts at risk—it’s a handful of common mistakes made in the ordinary course of running a business.
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Show Notes:
0:00 Intro
1:19 The 6 Hidden LLC Mistakes
3:28 Mistake #1: Letting Your LLC Expire
5:47 Mistake #2: Not Acting Through Your LLC
7:21 Member-Managed vs. Manager-Managed LLCs
9:18 Mistake #3: Mixing Personal & Business Money
12:03 Mistake #4: Undocumented Distributions & Loans
14:43 Mistake #5: Undercapitalizing Your LLC
16:59 Mistake #6: Blurring the Lines Between Multiple LLCs
20:43 How to Keep Your LLC Protection Intact
21:16 Outro
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CONTACT US
Phone: 800.706.4741
Email: info@andersonadvisors.com
Fax: 702.664.0545
ABOUT CLINT COONS
Clint Coons, Esq. has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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