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Rich Dad's Advisors: Own Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them Paperback – June 26, 2008

4.5 out of 5 stars 25 customer reviews

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Editorial Reviews

About the Author

Garrett Sutton, Esq., is the bestselling author of Own Your Own Corporation, The ABC's of Getting Out of Debt, The ABC's of Writing Winning Business Plans, How to Buy and Sell a Business, and Real Estate Advantages in Robert Kiyosaki's Rich Dad's Advisors series. Sutton has over twenty-five years of experience in assisting individuals and businesses to determine their appropriate corporate structure, limit their liability, protect their assets and advance their financial, personal and credit success goals. His law firm, Sutton Law Center, have offices in Reno, Nevada, Jackson Hole, Wyoming, and Sacremento, California.
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Product Details

  • Series: Rich Dad's Advisors
  • Paperback: 272 pages
  • Publisher: Business Plus; Revised edition (June 26, 2008)
  • Language: English
  • ISBN-10: 0446539066
  • ISBN-13: 978-0446539067
  • Product Dimensions: 5.9 x 0.8 x 9 inches
  • Shipping Weight: 13.4 ounces
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (25 customer reviews)
  • Amazon Best Sellers Rank: #364,156 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Maxim Masiutin on August 22, 2008
Format: Audio CD Verified Purchase
This book is written by a legal advisor.

Robert T. Kiyosaki did only wrote a foreword, the rest is written entirely by Garrett Sutton, the author of many business books (e.g. how to raise funds, how to write business plans and so on).

Although the book is not aimed to give you professional legal advice, it may be useful for those who do not have a business education, or for non-U.S. persons who would like to understand better the similarities and the differences between the business types in the U.S. and the country of origin of that person

This book gives great background on types of businesses in the U.S.: sole proprietorship, general partnership, limited partnership, S-corporation, C-corporation and the limited liability company (LLC). It also presents the strengths and weaknesses of each type. It also covers basic tax matters related to these types of businesses. It also covers benefits of Wyoming and Nebraska corporations in the income taxes. The book also describes how to open a corporation in a different state to get various benefits.

Another area of the book is devoted to asset protection: how to use corporations and LLCs to protect your property in legal disputes.

Besides describing the steps to create and to run a company, the book also helps you to avoid pitfalls of third-party services of registering a corporation for you.

The structure of corporate management is also covered briefly.

I was listening an audio version of this book, and found it very pleasant. I highly recommend an audio version for you too.
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Format: Paperback
This book is an updated and revised edition (the last update was in 2001), and provides some basic and useful information for anyone who wants some clarification about what it means to own your own corporation. Most refreshing is the author's attitude - Garrett Sutton isn't telling people how to cheat the IRS and pay zero income tax, and in fact, he makes it clear that this isn't a book about tax avoidance.

I highly recommend this book to entrepreneurs and others who are interested in starting their own business.
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Format: Paperback
I have personally set up companies with different structures such as corporations, limited liability companies, and assumed business units. I found this book to be very accurate and simple to read. Different legal structures protect the assets differently, but I will say that there is no structure to protect anyone 100% of the time. If you are doing questionable or illegal activities, the judge will pierce through the protection. So don't think that once you set it up you are protected no matter what.

I really liked the section where the author explained different advantages and disadvantages of various legal structures because they are all different and are not suitable for every situation. I don't think this book will make anyone know enough to set up their own LLC or corporation, but it is a good start. I never used an attorney to do it on my own, but I had to educate myself beyond reading this book; however, it gave me enough knowledge to have an idea of where to start.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
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Format: Paperback Verified Purchase
If I would have been made to read, and put to practice the knowledge in this book when I was just getting introduced to the Free Enterprise system as a young teen, I undoubtedly would be in a much better place today. I am in a much better place today than I would have been had I not discovered this book a few years ago. If you even care a LITTLE about your children's or loved one's financial future, or your own for that matter, you NEED this book.
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Format: Paperback
The book of the week was another from the Rich Dad Series, Own Your Own Corporation by Garrett Sutton. This book has a simple purpose, to inform the reader the differences between the most popular forms of corporations and how to get them off the ground. If you read my blog about the book Rich Dad, Poor Dad by Robert Kiyosaki, you would understand the benefits of starting your own corporation. I suggest you read it if you haven't already.

Sutton makes it very clear not to start a sole proprietorship and general partnership. These two entities offer no personal protection. The good types of corporations are C corporations, S corporations, Limited Liability Companies, and Limited Partnerships. Each of the "good types" offer great asset protection, which means, if your company gets sued your personal assets are safe. You will only be risking the assets that are in the corporation's name.

The book also shows the benefits of starting a corporation in Nevada. In Nevada, you will save money on taxes, maintain privacy, and maximize asset protection strategies. Sutton does a great job of sorting through the details of each portion of the book. From the start-up process to coming up with money, he does a great job of explaining the ins and outs. However, he does make it very clear that this book is not to be a substitution for legal advice and that if you are to go through the process you need to get a lawyer. He even suggests interviewing a few lawyers and picking the one that seems to have you and your company's best interests in mind. This lawyer is going to be on your "team" and as Robert Kiyosaki says "Business and Investing are team sports."

I think this book was really good for someone that has intentions of starting up a company.
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