Universal Article/Blog/News module

Owner-Managed Business-Creditor Proofing

0 Comments
1020
21 Jun 2016

Essentially you will be removing those assets from the liability of a lawsuit in the event your operating company has a lawsuit filed against it.  There will be additional legal and accounting work to be done so you should expect extra fees to get this prepared.

Here is a typical set up....you have a successful operating company (OPCO) that is at risk of some liability from the type of work you do.  You have $100K in cash in the bank and own the building that you operate out of.  After the setup is complete you would have a holding company (HOCO) that holds the extra cash and the building.  If the OPCO is sued then that law suit is limited to the assets of the OPCO and you save the your extra cash and the building.

For more information review the July SmallBiz Builder and then contact us for more information.

0.0
Last Modified: Tuesday 21 June 2016 09:55
accounting bookkeepping income tax tax

No Comments Yet...

Leave a reply

Your email address will not be published.

Contact Info

Address: 
6260 Colborne St.
Niagara Falls, ON L2J 1E6

Telephone: 905-374-6622

Social Media


Latest Twitts