Book Review: LLC or Corporation? How to Choose the Right Form for Your Business by Anthony Mancuso

Average

I've read several books on this topic, and I can't rank this one very high on the list. The first half of the book is pretty decent, not bad at all; however, the last half of the book, four whole chapters, is focused on converting one entity to another. This material should be in another book devoted to that topic, not here. That said, you are paying for fifty percent of a book that is very readable. It is not dense at all, and the "real-world" examples illustrating when one company entity is preferable over another entity are good, though few and far between. The inclusion of MANY more example scenarios would have made this an extremely informative book.

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Book Review: Trump University Asset Protection 101 by J.J. Childers

Very well written and sound advice

This is an extremely informative and well-written book. Building wealth is vitally dependent on legally reducing your taxes by forming companies and properly structuring your income between earned income and passive income. The author covers the various forms of company entities such as general and limited partnerships, S Corps, C Corps, and LLCs. I've read several books about corporate entities and this is the first one I've found with practical, real-world examples that explain why an S Corp is better in one situation, while a C Corp is better in another, and an LLC is better in other circumstances. I came away believing (rightly or wrongly!) that I actually understand the differences now. The author then builds on that and explain how you can use multiple entities of different types to create a solid asset protection plan. He gives an excellent example of how a actively traded investment account can be structured as a limited partnership (with brokerage accounts held inside it) and whose general partner is a corporation. I've noticed this same structure when reading annual reports over the years, and now I understand why this structure reduces liability and has very significant tax advantages.

There is much more than what I've covered here. I highlighted text on almost every page in the book. My highlighting ratio is the predominant factor of how high I will rate a book. I will continue to pull this book off the shelf and refer back to it.

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