Nevada Corporations?

From: A Mitchell


Does anyone have any information on starting a limited partnership as a Corporation in Nevada.

I have just heard a tape with Robert Kiyosaki and C.W Allen Called "The Secrets about Corporations" this was excellant with many strategies of protection against lawsuits and also tax minimisation(specifically what can be claimed before the taxman gets it - as operating costs.). He suggests Incorporating in Nevada and says that any person in the world can do it..

Is there anyone doing this at the moment or know someone who has done it as I am very interested. I have one IP at the moment and wish to grow. I have the finance and the deals are everywhere...just a little hesitant about my structure.

Any assistance would be appreciated.

Anthony
 
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Reply: 1
From: Silver Ghost


I have some blurb about it from www.sageintl.com (but haven't done anything about it yet).
 
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Reply: 1.1
From: Jeremy Laws


LLC's etc are not really worth it from an Aust point of view. Unless you have a US income. They will NOT save you tax, and they will increase costs of US filing considerably.
 
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Reply: 1.1.1
From: Shaun Wilkeson


Hi Anthony, I don't know anything about US asset-protection methods, however if you are concerned about protection of assets and tax minimisation strategies, I suggest looking into a trust using a corporate trustee. This forums' 'accountant-extrodinare-in-residence' Dale Gatherum-Goss is currently holding a seminar and has an easy-to-read manual on this very subject.
I would recommend researching this subject very thoroughly as decisions made at the beginning of your investment 'career' will have long term wealth consequences for you and your family.
Hope this is food for thought.
Best regards
ShaunW
 
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From: Simon St John


Hi Anthony

It all sounds very exotic to have O/S companies, etc. but as previous posts have suggested a trust with Australian corporate trustee is the way to go for Australian residents.

A leading Melbourne tax lawyer said to me a couple of years ago that the days of using overseas corporations for tax purposes was over, which people previously using them doing everything possible to get back under more favourable Australian tax laws.

Not to mention the shear complexity of ensuring you comply with Navada state laws and Fed laws in relation to filing, returns, etc.

Cheers, Simon
 
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Reply: 2.1
From: A Mitchell


Thanks very much for the feedback.

I would very much like to get some information on those points of view especially yours Shaun about Dale Gatherum-Goss.

Is it possible to get his manual or at least get in contact?

Thankyou for your help.

Anthony
 
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From: Shaun Wilkeson


Hi Anthony, Dale has a seminar coming up in melbourne on 12 june (i think - check out freestyler.net.au for the correct date).
While I have no investment properties (yet) i have seen firsthand how trusts increase ones' wealth, through my dad. His structure takes advantage of all the benefits that trusts provide. His structure includes discretionary trusts, unit trusts, & P/L companies. Prior to becoming an employee of his own company he had no real wealth creation vehicle, apart from being an employee until retirement time, and then relying on super, pension, etc. At this current date, he was in the position to retire comfortably last year, (but is enjoying himself and still building wealth), and he is not yet 53yo.
Appropriate advice on your own position and developing your personal wealth strategy is a key to long term security. I'm definately taking pointers from the ole man (and his accountant :)
cheers
ShaunW
 
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