Comply with all rules and regulations. Taking shortcuts can come back to bite a business owner if someone suing you can prove you have been negligent or have acted fraudulently.

Keep finances separate. Business and personal finances must be kept totally separate and the correct business name (not your personal name) should be used on all business documents, including property titles, contracts, etc.

If you need more information on asset protection strategies, call us today to schedule your comprehensive LIFT (legal, insurance, financial and tax) Foundation Audit. Normally, this session is $1,250, but if you mention this article and we still have room on our calendar this month, we will waive that fee.