In this video, you'll learn about asset protection strategies and why they're so important for your wealth planning.
We'll cover the following topics:
-- entity ownership of business assets
-- entity responsibility for business debts
-- personal asset risks
-- business income tax considerations
Q: Do I need separate bank accounts for all of my entities?
A: Absolutely – this allows each entity to conduct its own set of transactions (pay expenses and collect income). Since asset protection is predicated on showing that each entity is separate, it is extremely important that each one have its own account rather than sharing one.