#132: Tactical Tuesday: Protect Assets & Limit Liabilities with an LLC

<p><strong>OVERVIEW:</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast talks about asset and liability protection for your business or start-up.</span></p> <p> </p> <p><strong>EPISODE HIGHLIGHTS:</strong></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">Why is it important for you to protect your assets, especially if you’re a business owner?</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">When it comes to being sued, your business is at risk whether you offer a service or a product. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The golden rule is to set up an LLC or a corporation to protect you from personal liability.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Jason talks about incorporating in different states as one way to protect your business. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Hire an attorney with knowledge about being licensed in other states. </span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Work with your CPA and attorney to create a structure that provides the most benefits while mitigating risks.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Your goal is two-fold: protect your assets and limit your liabilities. </span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Another way to limit your liabilities is through trusts and holding companies. Create multiple LLCs/corporations to hold various assets of your business. </span></li> </ul> <p> </p> <p><strong>3 KEY POINTS:</strong></p> <ol> <li style="font-weight: 400;"><span style="font-weight: 400;">The golden rule of asset and liability protection is to incorporate.</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">C