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Stop Being a Target for Money-hungry Lawyers!

David Henderson worked hard at his profession and accumulated the rewards that go with success.
Then a disgruntled client named David as a Defendant in a lawsuit and threatened to “take him for
everything he was worth.” But after David and his attorney had a talk with the plaintiff’s attorney,
the suit was quietly dropped.

The reason? In spite of David's apparent wealth, he does not legally “own” anything that a lawsuit or court
judgment can take. David had the foresight to shelter his assets in judgment-proof entities.

Asset and Liability Protection

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Under the law, a Nevada company is an “artificial person,” completely separate from the people who own
and operate it. This is different from an individual or sole proprietorship where the owner bears the full and
complete financial responsibility for his or her actions.

Because it is an independent entity, a Nevada company's debts and taxes are separate from those of its owners.

Therefore, Nevada provides an individual in business, whether salaried or on commission, with the greatest
personal liability protection.

Nevada is the only state that does not share confidential information about its corporations and limited
partnerships with the IRS. In 2001, the IRS formally requested such an exchange program and the Nevada
Governor turned the IRS down flat!

 

Who should have Nevada tax saving entities

The obvious answer is anyone whose combined Business and Personal taxes are cutting deeply into their income. If you look at the money that is going to the government and think, “I could do so much more with that than they will,” you need a Nevada corporation.

Further, you can set up a Nevada LLC to separate your business assets from your operating company to protect your equipment and other assets from customer liability.

Nevada is the only state that provides "Charging Order Protection" for both its corporations and LLCs. This prevents personal creditors from seizing your corporate shares and thereby taking control. Nevada law clearly makes the actions of a corporation’s representatives exempt from personal responsibility except in cases of outright fraud. The best asset protection is to incorporate; the best place to incorporate is in tax-free Nevada.

 

	Tax Code I.R.S. SEC - 664 Reduces over all Income Taxes   Asset Protection Strategies How to Use Nevada Companies Personal Residence Trusts Equity Stripping Properties Sale and Lease Back Offshore Entities Privacy Trusts           For a Private Consultation
I.R.S. 162 - Over 300 Deductions Available Create "Friendly Liens" to Protect Equipment

WHAT IF YOU ARE FACED WITH A LAWSUIT Do not be fooled - even if you are innocent, that does not mean the courts are on your side. Jurors often side with the plaintiff who appears to need the funds in question rather than the defendant who they assume has money to spare. Even a judge's own personal feelings or politics can put you in jeopardy. Read the following outrageous quote below: "As long as I am allowed to redistribute wealth from out-of-state companies to injured in-state plaintiffs, I shall continue to do so. Not only is my sleep enhanced when I give someone else's money away, but so is my job security, because in-state plaintiffs, their families, and their friends will re-elect me." - Chief Justice Richard Neely, West Virginia Supreme Court                                        If you act NOW it's not too late to shield your assets from plaintiffs and their attorneys. Clients are happy to learn that there is still a lot they can do to protect their assets.

 

Nevada is tax heaven

• No corporate income tax • No capital stock tax • No gross receipts tax • No succession tax • No tax on issuance of corporate shares	• No inventory tax • No estate tax • No personal, state, city, or county income tax • No franchise tax • No minimum start-up capital required	• No gift tax • No stock sale or transfer tax • No inheritance tax • No annual reports necessary • No need to list assets
Other Advantages
• Cut your audit risk • Nevada is the only state that prevents personal creditors from seizing shares and liquidating your assets • One-person entities allowed • No attachment of corporate shares by personal creditors	• No delay - entities can be formed in 24 hours • Corporate meetings may be held anywhere • Nevada Corporations and Limited Partnerships can own property in any state without having to be incorporated in that state	• Shareholders and Directors need not be residents (or U.S. citizens) and do not need to come to Nevada • Nevada allows for section 355 Tax Free spin-off

Case Story #1: Safeguarding your business and building personal protection The company is a successful North Carolina home builder. After several years, following many construction defect lawsuits, many construction companies found that it was getting increasingly difficult to carry liability insurance for themselves and their projects; coverage was getting just too expensive. Eventually, the owners made a decision to stop carrying liabilty insurance coverage altogether. Without insurance coverage, the owners realized that they were exposed to all forms of liability lawsuits. The only alternative was asset protection for the company and themselves as the best alternative to insurance coverage. First, the company's operations had to be restructured so that any liability arising from a building project could not exceed the amount of the operating company's assets, if any. It was further decided that a separate legal operating entity would be established for each construction project. In addition, they created a separate Limited Liability Company (LLC) to own their company equipment and did a “tax free” lease-back to the operating company. They were able to accomplish this by having a CPA do a Section 355 tax-free spin-off. In order to further insulate each project they had separate entities own the real estate and do the development work. Each entity was managed by a Nevada Corporation with special “gross negligence” provisions and special asset protection “enhancements” to protect them from creditors. Finally, they created an additional layer of legal entities to further insulate themselves as owners from the liabilities of the business by protecting their home, personal property, real-estate, and investments. Their first test came several months later and this protective structuring worked as planned. The plaintiffs, upon seeing the level of protection they were faced with, dropped what could have been a class-action lawsuit and accepted a surprisingly low settlement offer.

 

Incorporate even if you don't have a business

Complete Privacy
There is a reason why almost all successful people choose to incorporate. It permits them to manage their assets anonymously and their private corporate lives are never made public. Only in Nevada can a corporation be set up so that you own and control your corporation while your identity and ownership remain a total secret. Some individuals choose to have a separate corporation for their large assets such as brokerage accounts, a rental property, a boat, or recreational vehicles.

Profit
Your corporation can maximize profits by taking advantage of the tax laws. A corporation can write off most purchases of goods, vehicles, and services as expenses. By organizing your activities so that much of the profits go to a corporation in tax-free Nevada, you can dramatically increase your net income. You pay the government less—and take home more!

Flexibility
A corporate structure allows you to place different investments under separate corporations. You retain complete control of all your investments. But if one corporation runs into trouble, it won’t suck the profits away from the other, more successful, investments. Without incorporation your profitable ventures would have to pay the debts of any unsuccessful ventures!

Estate Benefits
Because a corporation’s existence is perpetual, your corporation can outlive you. By using estate-planning strategies that are possible only with a Nevada-based corporation, you may be able to pass your estate to your heirs without going through probate. This can save both legal costs and inheritance taxes.

Protection
Nevada permits corporations to lien up homes, cars, boats and business assets.

Case Story #2: Normal Corporations Offer No Protection Jeff and Dave each own shares in a car dealership, with Jeff owning 60% of the stock and Dave owning 40%. They had been told by their accountant that doing business out of the corporation would give them a certain degree of asset protection. They were not advised of the advantages of a Nevada corporation or LLC. Jeff’s wife was involved in a major automobile accident and the couple was targeted by plaintiff’s attorneys in a crushing lawsuit.  Jeff's wife lost, and together the married couple were held to be responsible for the large judgment and subsequent debt. Jeff and his wife were informed of the judgment against them; nothing could now prevent the plaintiff from seizing Jeff’s stock in his company, making the plaintiff, and his attorney, the new controlling shareholders of the car dealership. Jeff lost all ownership and control of his company. What could have been done differently? First, Jeff and Dave should have formed the dealership as a Nevada Limited Liability Company (LLC) and then filed as a foreign entity in the state they were doing business in. Nevada stock and Nevada LLCs are protected from the claims of creditors by charging order protections. Next, instead of owning the shares of the dealership personally, Jeff and Dave should have each owned a Nevada corporation to own their shares and also thereby taken advantage of the individual tax planning, individual asset protections, and tax- free dividends available to them.

You can be completely anonymous

A Nevada corporation is required to list only the name and address of its president, secretary, treasurer and director(s) with the Secretary of State. All of these positions may be held by one person. Bridgeway Financial can provide a Private Property Trust to fill all of these positions-ensuring your complete privacy. In fact, Nevada law does not require stockholders to register with the state. Therefore, you can own all the shares in your Nevada corporation, maintaining control of all corporate assets, while designating nominees as your officers and directors and your identity will be kept completely secret. This makes it impossible for anyone to track down the ownership of your corporation.

 

Ask yourself...What is Peace of Mind really worth to you?

As an independent entity, a Nevada Corporation’s debts and taxes are separate from those of its owners. Therefore, Nevada provides an individual in business, whether salaried or on commission, with the greatest personal liability protection. Once a lawsuit has been filed, the law will not allow you to move your assets. You must act ahead of time to protect what you own before it becomes under attack. "Without Asset Protection you could suddenly lose everything you've worked for!"