October 17, 2018

The Power of the Limited Liability Company, with Lee Phillips

Episode 26:

Attorney, Lee R. Phillips, will teach you how to reposition yourself in the law so that you can go out and make more money than you have ever thought possible. You will be amazed at how a good knowledge of the law will actually let you make more money. In today’s lawsuit happy society, making it isn’t enough. You also have to know how to protect your wealth, or someone will take it away from you. It might be your tenants, the IRS, the government regulations (like lead paint) or some greedy lawyer. Unless you are shielded, everything you have can be lost.

Lee is a counselor to the Supreme Court of the United States and an engaging speaker. He will walk you through how to make it and how to keep it using the tools of wealth. Nobody ever gets rich without an understanding of the tools that create wealth and protect it.

What you’ll learn about in this episode:

  • Lee’s professional background as an attorney specializing in LLCs and tax liability
  • What an LLC is, and what mistakes people make in utilizing the LLC structure that invalidate the asset protection an LLC offers
  • What advantages an LLC offers over a corporation, and why an LLC can be a desirable business structure
  • How laws governing LLCs vary from state to state and could affect you differently based on where your LLC is set up
  • How to effectively use friends and family to create a multi-member LLC for further asset protection
  • How to leverage your LLC to negotiate with creditors when you haven’t distributed money and haven’t declared a profit
  • The history of the LLC, and how its unique tax rules allow you to be taxed as a sole-proprietorship
  • How the new Section 199A deductions can benefit pass-through entities by allowing up to 20% of income to be tax deductible
  • How to get a great discount on two hours of audio content from Lee, discussing how to properly set up or amend your LLC’s operating agreement, click the link below and enter LEGRAND as the promo code for your special price

Additional resources:  

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