Hidden Business Assets
How many small businesses are there?
In 2008, there were 29.6 million businesses in the United States, according to Office of Advocacy estimates. Small firms with fewer than 500 employees represent 99.9 percent of the 29.6 million businesses (including both employers and nonemployers), as the most recent data show there were about 18,000 large businesses in 2006.
Given the impact of small business on the economy it is fair to say that small businesses are very important to banks and government. Unfortunately few of those millions know how to turn their business into a real asset. IRG capital can show a small business how to generate passive income of more then $150,000 and have large cash reserves to run their primary business. We do that by showing you how to print money and use that money to make more money. The mechanism we use is the corporation
How important are small businesses to the U.S. economy?
Represent 99.7 percent of all employer firms.
Employ just over half of all private sector employees.
Pay 44 percent of total U.S. private payroll.
Have generated 64 percent of net new jobs over the past 15 years.
Create more than half of the non-farm private gross domestic product (GDP)
Corporations Make Raising Money Easier:
A corporation has many avenues to raise capital. It can sell shares of stock and create new types of stock, such as preferred stock, with different voting or profit characteristics. Plus, investors can rest assured knowing they are not personally liable for corporate debts. We use the corporation at IRG to obtain money via a line of credit. A minimum of $50,000 is usually obtained. Because a corporation is separate to the individual there is no real limit to how many corporations one can have or $50,000 lines?? Transferring the ownership interests of a corporation is easier.
Ownership interests in a corporation may be sold to third parties without disturbing the continued operation of the business. A sole proprietorship or partnership, on the other hand, cannot be sold whole. Instead, each of its assets, licenses and permits must be individually transferred. Plus, new bank accounts and tax identification numbers are required.
We help businesses form corporations and show them how to access lines of credit using a prescribed process in addition we offer information on where one can learn about tax write offs and asset protection through a corporation.
Shareholders in a corporation are not liable for corporate debts?
This is the most important attribute of a corporation. In a sole proprietorship or a partnership, the owners are personally responsible for business debts. If the assets of the sole proprietorship or partnership cannot satisfy the debt, creditors can go after each owner’s personal bank account, house, etc. to make up the difference. On the other hand, if a corporation runs out of funds, its owners are usually not liable. This is a fundamental point in using your corporation to generate money.
Corporations Offer Self-Employment Tax Savings
Earnings from a sole proprietorship are subject to self-employment taxes, which are currently a combined 13.3% on the first $106,800 of income. With a corporation, only salaries (and not profits) are subject to such taxes. This can save you thousands of dollars per year. If you are working and own a business you can use that business as a tax write off on that income. Bottom line, you can increase your take home pay instantly with IRGs Business Credit Blueprint.