All Forum Posts by: Vidit Maini

@Bill Hampton Thanks Bill

@Bruce Woodruff hi, the business in not RE. I want to be able to keep business finances and liability separate. I am also looking for tax optimization as the business will require cash reserves and is a high risk business from a liability perspective.

@Chris Seveney Thanks, Chris. Agree with you and I dont intend to leave my W2 until the business takes off. Appreciate the perspective.

Thanks, @Alecia Loveless. Appreciate your inputs and will follow the same.

Dear BP family, I am finally on my way to start my small business. I have setup an LLC as a C corporation. I have the option of turning it into an S corporation. Year 1, I intend to keep my W2 job while i work to get my small business going. Looking for tips on tax savings on the small business. I think I will need a car and an office space in the first few months itself. Please give your best tips/suggestions as I embark on this journey.

Thanks,

Vidit

Dear BP community, Please share your realtor recommendations in GA. I am looking to add a couple properties to my portfolio this year. Thanks!

@Jeff Nash thank you!

@Bjorn Ahlblad Thank you so much

Dear BP community,

I am a 50 year old immigrant and have worked hard to make a life for myself.  I have a net worth of ~2-3M in the form of a primary, secondary home, a rental property, and savings/CD accounts and a W2 FT job. I intend to embark on a business venture which is high risk and high reward. Before I do so, I want to take steps to protect my assets. The nature of the business will be such that lawsuits and claims are expected. I am consulting anderson advisors but not convinced that I should hire them. I am requesting you to share your suggestions on which vehicle i should use to protect below assets. I know I am asking for a lot but my experience at BP has been fabulous and the knowledge I have received from this forum has been so much wiser than any professional I have come across (yet). If you have names of attorneys you can recommend , that will also be of immense help. Thanks in advance and God bless!

1) Primary home - GA - titled to me - Trust or LLC or both

2) Secondary home - GA - titled to spouse - Trust or LLC or both

3) Rental property - GA - titled to me - 

4) Savings/CD Accounts - 1M - GA 

5) W2 income  (self and spouse)

Thanks,

Vidit

Dear friends,

I am looking into asset protection strategies prior to embarking on a high risk business. Have any of you implemented this for yourself? I am looking for a mentor/coach who is willing to share their experience and lessons learnt. I am also performing due diligence with anderson and prime.

Thanks,

Vidit