Own Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them (Rich Dad's Advisors) (Paperback)

~ (Author) "As legal business system and traditions have developed over the last five hundred years, several structures for running a business have evolved..." (more)
Key Phrases: independent contractor service agreement, controlled group status, nonaccredited investors, Key Employee, The Chairman, Joe's Management (more...)

Editorial Reviews

Product Description

Own Your Own Corporation reveals how private citizens can take advantage of incorporating themselves and their business to save thousands of dollars in taxes and protect themselves against financial disaster.

About the Author

Garrett Sutton is an Attorney with over 20 years experience in assisting individuals and businesses to determine their corporate structure, limit their liability, protect their assets and achieve their personal and professional goals

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Product Details

• Paperback: 317 pages
• Publisher: Warner Business Books (October 2001)
• Language: English
• ISBN-10: 0446678619
• ISBN-13: 978-0446678612
• Product Dimensions: 9 x 5.9 x 1 inches
• Shipping Weight: 15.2 ounces
• Average Customer Review: 4.1 out of 5 stars  See all reviews (58 customer reviews)
• Amazon.com Sales Rank: #57,981 in Books (See Bestsellers in Books)

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• This is item 7 in The Rich Dad Series.

Customer Reviews

Most Helpful Customer Reviews

302 of 308 people found the following review helpful:

4.0 out of 5 stars Proper Structural Preparation Pays Off!, November 1, 2001

By	Professor Donald Mitchell "Jesus Makes Me a P... (Boston) - See all my reviews (TOP 10 REVIEWER)

Almost everyone will either start-up a new business or invest in one at some point. Almost all of these investments will be unsuccessful. Most people will think that they merely have their investment sums at risk. Take the wrong approach to structuring the investment legally, however, and your whole career and life savings can be at risk. If you carefully follow this book's advice, none of these investments will cost you anything more than you planned to lose in the worst case.

When Robert Kiyosaki was a youngster, he loved to read about the early explorers like Columbus and Magellan. His Rich Dad encouraged him to also study those who financed the explorers, to learn about how they managed their risk and reward to expand and protect their wealth. "Don't climb the corporate ladder, why not own the corporate ladder?" was other advice that Rich Dad gave. To do this, Mr. Kiyosaki advises you to "find a good attorney and use him or her as your advisor on this important subject."

Own Your Own Corporation does an excellent job of explaining the various advantages and disadvantages of C and S Corporations, Limited Liability Companies, and Limited Partnerships from the legal perspective of how to save money on taxes and protect yourself from successful attacks on your personal assets. I particularly liked the way that the usual legal gobbledegook was avoided, and the ideas expressed in clear, simple language.

As a lawyer, I felt that the work was highly accurate and well presented for a layperson. I was especially impressed with the very long appendix that outlined the legal circumstances in each state. On the other hand, the book makes it clear that you should get some legal and accounting help to make sure that you do things properly.

My complaint about the book comes from the lack of describing the other methods that can be used to protect an individual and a family from liability. Setting up the right business structure is just part of what needs to be done. Other assets need to be protected using other techniques such as trusts, and insurance can also play a helpful role in protecting you from mistakes.

In picking a legal advisor, I will also mention that many perfectly capable practitioners will not be familiar with this particular area of legal practice. So choose well, or you will not necessarily end up with the business structure you need. A good use of this book is to arm you with questions and background knowledge to help you test how current and experienced your potential legal advisor is. In fact, you may need more than one legal advisor to help you set up the optimum structures for your personal assets and your business activities.

Taking time to eliminate risks and taxes in advance is well worth your focus and investment!

107 of 110 people found the following review helpful:

5.0 out of 5 stars OWN YOUR OWN CORPORATION by GARRETT SUTTON, September 26, 2001

By	M K Baker "kbgoldmine" (Las Vegas, NV) - See all my reviews

As a owner of various companies, I look for books that will provide insight on limiting liabilities while maximizing profits. The author has suceeded with this book because it's written with a straight forward approach that breaks down difficult corporate terms into terms that anyone can understand. This was achieved by showing examples of certain situations and unknown facts that can happen to any individual or company.

I really like how the book explains all aspects of different types of corporations to establish depending on each individuals goal to keep their company private or go public. At the same time, the book teaches you various ways to protect your personal assets from your business assets. Just this section alone will eventually save you thousands in personal asset protection.

Most importantly, I've read hundreds of books about corporations, asset protection, public or private, etc. with the majority being very boring with fancy terms that's hard to understand. This book was so enjoyable with simple terms and exciting case situations, I read the entire book without putting it down. I'm now re-reading it and underlining many facts that will be shared with my corporate paid professionals on various situations that my company needs to be protected against. I had no idea but thanks to your book, I do now.

Finally, This book is a "MUST" read for anyone starting a corporation and a "MANDATORY" read for any owner of an existing corporation.

Thanks to the author, Garrett Sutton, I'm now working smarter, counting more net profit and sleeping comfortably in my personally protected home.

54 of 55 people found the following review helpful:

5.0 out of 5 stars Good book - ignore the critics, September 28, 2003

By A Customer

I have read several books on setting up a corporation and still found many useful nuggets of information in here.Garrett Sutton is a legitimate authority and knows what he is talking about unlike some of the other books that are creeping up on the market place today...