Mr. King is the best-selling author of 'How to Start and Run Your Own PROFITable Small Business' and has over 25 years of experience in small business consulting.
Ed King, MBA, CPA, the Director of Small Business Services at Wayne State University, Detroit, MI. states, “I cannot believe the misinformation that is out there regarding business structures or the tremendous mistakes people make in deciding on the best legal form for their businesses.”
Mr. King is the best-selling author of How to Start and Run Your Own PROFITable Small Business and has over 25 years of experience in small business consulting. He has written a new report about forming corporations, limited liability companies, and partnerships.
Mr. King explains, “You have to limit your liability to protect your family. For example, if your business experiences severe financial difficulties or injures someone, creditors or an injured party can take away your personal property such as your home, retirement savings, or any other asset you or your spouse own. If you don’t incorporate or create an LLC, the risks are hazardous to your wealth”
In the report, small business owners will learn the pain-free way to become a millionaire just by doing what they are doing now...with one small change. And no, it isn’t working harder, working longer or saving more.
The report also shows business owners how to cut their social security taxes in half. Mr. King states, “If you are making $50,000 a year you can reduce your social security tax (also known as self-employment tax) from $15,000 to $7,500 by making one small change.”
Ed King’s report also concludes: If you are a sole proprietor, you are risking all of your family’s assets on each decision you make. NOTE: If you don’t know what legal form you are…You are a sole proprietor.
If you are a partnership, you are risking all of your family's assets on each decision you make and your partner makes (even if you aren’t aware of the decision).
If you are an LLC, you are paying way too much in Federal taxes.
If you are a C Corporation, you are being taxed twice on the same amount of money.
This report is applicable to those small business owners who live in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
