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in today’s video I’m going to break down the five ways in fact the only five ways the wealthy may use in LLC to protect their assets and maybe save some taxes I’m a registered CPA attorney best-selling author and owner of multiple tax and legal businesses in today’s video I’m going to show you exactly where the LLC makes sense and is absolutely critical for you to succeed in business and build your American Dream the problem is business owners misinterpret what an LLC is for and it’s supposed to be used and by doing so they actually pay more in taxes like I said at the beginning I really believe there’s only five ways the ultra wealthy the successful business owners may use an LLC there might be an ancillary small strategy out there that’s fine but these are the five main uses 99% of the time of an LLC now the best way to explain where an LLC is best used and where it fits into your plan and I’m going to show you the exact way to use it is to introduce you to the trifecta the trifecta is my invention of how to make sense of this complex seemingly complex tax and legal structure and young and old rich or poor every client that I work with that our team works with we introduce the concept of the trifecta and it’s going to blow your mind you’re going to love this and it’s going to help you better understand and how to use these llc’s now the trifecta obviously is made up of three parts and these three parts are the foundation of how the ultra wealthy build wealth and keep it now the base of this is going to be a trust a revocable living trust that has nothing to do with an LLC a trust is built for Estate Planning and I’ve got other videos and articles and books on this but the revocable living trust is that foundation of the trifecta and is also kind of where your 1040 lies this is where all the money comes down to is your 1040 tax return that you’re gonna file every year every American has to file that now on the left side we’re going to put operations this is where you’re making money to pay the bills and live life that these are my operational income and operational expenses on the right side is where we’re going to put our assets or our investments on the right side here as well is where we create passive income this is coming into play as we talk about these five llc’s on the left side with operations we’re going to create ordinary income now I can already ask you the question which one do you think is taxed more that’s right ordinary so we want to do the best tax planning we can on the left side when we bring this all together now the left side is going to be maybe a day job a W2 maybe you’re married partner has a W2 maybe you have a little side hustle over here all right that’s cool but ultimately as you expand your side hustle your side G you have a main operation you’re going to have an operational entity that’s going to be owned by your trust and all the profits of this business are going to going to come down to your 1040 and I’m going to talk to you about how you pay yourself how does this work we’re going to get into it on the right side you might have an entity very simply that owns your Investments or your assets think of this like a rental property you might have a LLC a little spoiler alert over here owning a LLC and oh you may have an operational online business maybe you do some freelancing to sell a product or service oh that might be an LLC but they’re different this is where you’re going to create operational income I’ll put Ops and over here we’re creating this passive income so this is the trifecta we have an entity on the left an entity meaning a business structure and we have an entity on the right now we might have multiple operational pieces of income and we might have multiple rentals but we still at this structure level have just two entities and this builds our Trifecta 1 2 3 all of this wealth comes down in as potentially taxed at our 1040 and we want to build a structure to save taxes create asset protection and leave a legacy this Trifecta is Magic and it’s going to help you better succeed now that we have the basic Trifecta on the table let’s talk about these five different llc’s and who they’re best for and if it’s a good idea for you sometimes I have clients that are using all five it just depends everybody’s different so let’s get our Trifecta back on the table we have Ops over here we have assets over here here we have our estate down here or our 1040 right so this is it this is for everybody love it so the number one reason for an LLC or where they’re used primarily the most is a holding company this is number one you’re going to have an LLC to hold a rental property or maybe some Investments maybe some Bitcoin maybe a note some sort of passive investment where youve put money in and your money is doing the work not you that’s the first place an LLC is going to be used now why do we do this it’s to create protection either there could be a lawsuit that could arise with that rental property and we don’t want them getting at us or we can design the right type of LLC depending on the situation where if you get into a car accident texting and driving and we don’t want some creditor to come after you your or your assets so if they come I should say if they do come after you they can’t get up into the LLC and what it’s owned now that can get a little complex on the where we set up the LLC how we maintain it and what it owns but the concept here is that we want this LLC as a holding company this LLC is going to help us protect assets or protect us from operations in that holding company very common and what you would typically do is once you form the LLC in the proper State and I’ll give an example here in a moment you would open a bank account with the Ein the electronic identification number the LLC would be on title for the rental property or the one opening up the wallet or the investment account the LLC is the one holding the money or the asset not you and then as you make money you can transfer that money down to yourself it’s called a draw or a distribution but if you respect the LLC and you do an annual meeting you pay your annual fees to the state you respect the bank account and it’s the LLC doing business not you this LLC can become Unstoppable and this is what the wealthy do we might start setting up more llc’s an LLC for two rentals over in Minnesota another LLC over here in Nevada for an investment of some sort an LLC in this state or whatever we could have multiple llc’s depending on how many assets you have and it’s going to vary and we don’t want to overdo it we want to make sure that we’re very very careful and targeted here and it’s important that we don’t get sold something we don’t need but if you own a rental property if you have assets ass that you’re worried about maybe losing in a potential lawsuit we want to have an LLC to help protect you or those assets that’s the number one reason for an LLC now an example I’m a realtor I live in California and I bought a rental property in Tennessee okay well a California LLC is not going to help me cuz I don’t have a rental in California I have a rental in Tennessee now we’re not talking about operational business yet but over here I have a rental property and I got a 10 in Tennessee and I don’t want that tenant suing me and taking away my assets and I want to have that LLC maybe provide a little privacy for me I don’t want my name on title I want the LLC on title I’m going to have a bank account a property manager all those things that come with a rental property so what do I do I set up an LLC in Tennessee for that rental property that is an example of LLC number one and if you want to build wealth and protect it and do what the wealthy do that’s when you use LLC number one now I did say the word holding company right well that’s just a term of art a holding company is an LLC it’s nothing different than that it’s just kind of a a term that helps you understand that this LLC is not doing business it’s holding something so that’s why I use the word holding company we’re going to talk about operational companies over here in a minute but this is a holding type entity now the cost to set up an LLC can vary depending on your expertise and what you’re needing On The Low End you might go to an online type service and set up an LLC you could spend $4 $500 maybe six now so I know some of you are going uh Mark the filing fees is only 50 bucks yeah you do one sheet of paper that’s not an LLC you need all the pieces and parts so if you go to an online service you need to be checking the boxes for an operating agreement and minutes and membership certificates and Ein and a lot of people cut corners and they think they have an LLC and they don’t so don’t try to go on the cheap DIY side unless you know what you’re doing typically using a lawyer and our Law Firm helps clients all over the country with this you’re going to be between $800 to $1,200 depending on how much involvement you want with the attorney but the beauty of using a lawyer is they’re going to do it right and they’re going to answer questions about how you’re going to maintain this and move forward with it so I think you should have a budget and you got a filing fee with the state and all that but I think you could budget anywhere from ,000 to$ 13 or $1,400 on the highest end to set up an LLC holding company in this range and you’re going to keep it forever you could use it over and over again you could put multiple rentals in it you’re going to have those sorts of questions in a conversation with the lawyer that helps you set it up and the last way I could say it that might be helpful is using the word holding company is kind of letting yourself your family your planners know how you’re using the LLC I’m going to use this LLC for holding things so I’m going to call it a holding company okay number two the second most common reason for an LLC and where they’re great is for an operational business so it’s an operational company but it’s an LLC again at its foundation so let’s go to the Whiteboard and we’ll show this distinction over here is our holding company we talked about just a moment ago now we’re going to have an operational LLC this could be doing online sales it could be doing a service it could be doing a product uh it could be doing a lot of different things and for millions of Americans that have a side hustle or a side gig this is the beginning of that process that Journey so I’ll put side hustle over here we’re going to have this this little LLC over here and we’re going to start respecting it and using it for operations over here again holding over here Ops there’s a reason we’re going to keep these separate first and foremost I want a wall of protection this wall is very important in our Trifecta anything that goes wrong over here I don’t want them getting at your assets it’s a very important Concept in asset protection also ordinary income remember we talked about that a minute ago is the worst for tax purposes now it’s not a bad thing I want you to make money I want you to create lots of ordinary income but we got to know that it’s going to be taxed differently and we’re going to use it a operational LLC to protect the tax rate to protect how much we’re paying in taxes and this LLC is the beginning of that process so an example over here uh let’s go back to our realtor I said we had a realtor in California that owns a rental property in Tennessee so we have this little Tennessee LLC over here now we’re going to have a California LLC for their realtor business the broker is going to pay them at $10.99 for their services as a realtor they’re going to have a separate bank account for this LLC a separate Ein a separate name of the LLC these are two separate companies and we’re going to use them for their individual purpose holding or operations now an important Point here this LLC does not save taxes this LLC is the beginning of a process where you’re going to start using this LLC for the collecting of the revenue paying expenses and auto and home office and la la la la la and whatever we make we’re going to take a draw or a distribution that’s great but the LLC itself did not save taxes this is the number two reason for an LLC and we’re going to start to show how it can save taxes with the third type of LLC now number three let’s go back to our trifectant let’s clean this up a little bit it’s getting messy right so over here are our assets and we’ve got our in our example we have our little Tennessee LLC and we have a rental property okay number one reason for an LLC it’s a holding company holding assets over here we have our little LLC for our new business or side hustle this new realtor that’s out in California has this LLC and they’re starting to respect it and use it in the bank and build credit and just understand how to operate as a small business any profits they take out and they pay for expenses out of that LLC over here we’re collecting rent we’re paying expenses over here and we’re taking profit over here two different businesses two different purposes we do not want the same LLC doing both because we want a wall down the middle we want protection now what’s going to happen over here that’s a problem is this I’m going to use the letter the color red here is what’s going to happen here is this LLC is going to start making money and the owner this realtor is going to pay self-employment tax h 15.3% on all the profit and you’re like well I set up an LLC I should be saving taxes no you’re not saving tax with that LLC that LLC is for holding the business operations but you get all the same writeoffs you would even if you didn’t have an LLC so this number two LLC can seem like a problem you’re like well what’s the solution we’re going to convert this LLC into the number three type and that is an LLC tax as an ESC Corp that process is very simple and affordable about $250 maybe $300 at most that’s about what we charge and we keep it very simple and we can backdate this LLC to an escorp to the beginning of the year when it makes sense so if I’m going through let’s say 2024 and I’m starting to make more more money and I noticed that I’m going to have a huge tax bill you you call your mom mom I’m making more money and then you call our firm and you go help me out I got to get this escort thing going and you and you can and you call and we like okay and then you say can you remind me why here’s why when you start to make money in this ESC Corp there’s no self-employment tax and even though it’s a corporation there’s no corporate tax what super cool right well there’s a catch you do have to take a salary but we do also create a lot of savings that’s the main reason for this type of LLC is so that we can save on the self-employment tax now let’s unpack this a little bit I know that sounded like a lot and it could be a you know be a little a little overwhelming so let’s just do a comparison let’s compare a regular operational LLC that number two version with a LLC taxed as an es Corp that third version when a business owner starts to make more and more money we want to convert them to the es Corp strategy and again here’s why let’s say you bring in 100 Grand you spend 2,000 on expenses and you net $75,000 all right that’s cool well Apples to Apples over in this LLC you make the same 100 Grand you get the same write-offs $25,000 worth of expenses and you net 75 grand over here you’re going to pay that 15.3% right out of the gate and that’s going to be around $10,000 in self-employment tax then you pay state tax if you live in a state with state tax and federal so you’re get hitting three times and all of a sudden you realize what the hell this number two type of LLC is not helping me so we switch over to the escorp here’s what we do we take that same 75 grand in profit you’re taking that money all the time and by the way I have other videos on how to use the S corporation we can spend a lot of time on this but I’m just going to hit the surface level issues here so 75 grand on profit I’m going to split that up I’m going to take maybe 25 Grand in salary and I’m going to pay my fair share of self-employment tax I’m going to pay my FICA over here and then the other 50 Grand on paper I’m going to call pass through now it’s super easy to pay yourself in both situations whenever you want money just take it take a draw take the money out of the bank account I do not care but on paper on a quarterly basis your account’s going to file a 941 with the IRS and you’re going to go through kind of a payroll procedure you’ll learn more about this if you embark on this you’re going to do this 25,000 in salary and this 50 Grand in pass through or K1 or profit on paper it’s just on paper this is going to take more work it’s not complex and once you get through your first couple quarters doing this you’re like oh my gosh is that why every realtor dentist Doctor lawyer accountant landscaper plumber electrician use es Corps yeah that’s why we do it because soon as you start to make more than 50,000 a year net net down here at the net after all your expenses when you start to make 50,000 or more that’s when you call your mom and then call me and that’s when we want to convert you to LLC number three at the foundation it’s the same name same Ein same bank account but behind the scenes we’ve ta changed its type so now we go from a holding LLC to an operational LLC to an escorp LLC and not everybody needs it you may stay here in LLC number two for years some of you needed LLC number three 6 months ago so start to look at your numbers start to figure out how 2024 is playing out and this is how the wealthy save taxes because they want to get to that es Corp that unlocks a lot of other strategies and especially it helps you on saving on FICA okay now a side note for any of you accountants out there enrolled agents CPAs helping clients prepare their taxes when I said reasonable comp of 25,000 here you know those words you’re like Mark Mark that’s way too aggressive let me just say in 20 plus years of helping clients around the country we have never ever had a client audited for taking to low of salary I go to Every reasonable comp CE I read every case on reasonable comp I teach continu education on reasonable comp if you’re a tax professional let me tell you my mission is to help every small business owner in America build build their business live their dream and save taxes along the way reasonable comp is something that can be addressed and more strategically attacked I would love to help you build your tax advisory business become a tax adviser you’re going to hear more about it in this video but please take the time to do a demo and even learn about my Main Street tax Pro advisory program we have a tribe and a community carrying out this Mission and purpose helping thousands of business owners around the country and elevating their practice at the same time if that’s already exciting you and you’re a tax professional please click the link below and check out the Main Street tax Pro program now we’ve covered three types of llc’s it may be a little overwhelming a little daunting some of you like Mark tell me something I don’t know I got four and five hang tight but if any of you feel a little overwhelmed or need a little support through this process let me make a couple suggestions the first one my tax law firm incredible team 12 lawyers helping clients daily on Zoom around the country I don’t care what state you’re in get a review get a comprehensive console around, 15,600 $100 you can have a lawyer look at your situation and decide if you really need an LLC we could include setting up an LLC in that consultation and build a trifecta for you very affordable simple and it can give you an action plan for 2024 and 25 and Beyond number two if you’re like Mark I’m okay with that but I need a Tax Advisor I really want a tax adviser to help prepare my returns and help guide me through what I’m already doing check out my tax Pro Network that’s at Mark Jak er.com click on the tax Pro Network and you can find a a CPA or roal agent an accounting fir around the country young or old Bigg or small west coast East Coast does not matter find something that find someone that can speak to you to your language that you can relate to and they can help Implement your strategy whether it’s LLC 1 2 or three so I have support for you I have a network of accountants around the country we’ve got our tax law firm we’re helping clients every day and we’ve been doing it for 20 plus years we’ve got the resources if you need that help and my link to the law firm and the Tax Advisor Network are down below check it out you won’t be disappointed now LLC number four and five trust me the first three probably 80% of llc’s are in those first three now we get to option four and five number four one word Partnerships if you’re going to partner with someone in an operational business or a holding company either one if you’ve got a partner you have a new relationship and that relationship has to be find you do not want a lawsuit later because everybody did it on a napkin at Denny’s what you need is an LLC a partnership LLC so let’s look at the trifecta where might this be so boom let’s look at the asset side for a minute so you’re over here and you’ve got this LLC with your little rental property in it and you’re it’s owned by your trust and all the profits are going down to your 1040 you get it it’s all good it’s great and then oh your best friend from college calls you up and says Mark oh my gosh you got to go buy a rental property together oh tell me about it they talk you into it and you’re like oh that’s a great deal all right could be a duplex fourplex an apartment building something like that whatever and they call you up and you go let’s partner well you do not want to do this on a handshake you want to have protection from any action of your partner CU if you don’t have an LLC and you shake hands in your partnership that’s a general partnership and you’re subject to the general liability the vicarious liability of whatever your partner does we don’t want that and we want to Define our relationship so what we do is form a new LLC this is number four it’s a partnership LLC and in this partnership we’re going to have an operating agreement this little op agreement is going to Define who does what who gets what what the percentage of ownership is and you might be 50/50 all right that’s cool the LLC is going to Define it it’s going to have its own bank account its own Ein it’s going to have the project whatever it is that you’re partnering on your partner might have an LLC maybe they just have another trust it doesn’t matter matter that’s their world but in your world we’re either going to have your holding company own it or your trust own it and this LLC is going to continue to make money and build wealth and when you partner it can be a phenomenal thing I love Partnerships you’re Synergy together providing additional cash or resources or ideas or hard work can be amazing you might have a partner that has no money but they do all the work you may do all the work and have a partner has the money you might have multiple partners I don’t know but a partnership LLC is critical and this is what the wealthy use to make more and more money because they start partnering with others on deals now on an operational side and I’m going to share with you my structure here in a little bit and you’re going to see how it works but let’s say you’ve got your es Corp LLC and you’re out there cranking um and let’s maybe go back to our example our realtor in California and someone calls him up and old friend and says hey Susie let’s go out and do some Property Management together oh my gosh it is such a great market for that a lot of realtor get into property management so let’s go out there and do that you keep doing what you’re doing selling property and getting 1099s and doing your thing but let’s partner in a new operation in this new operation we’re going to create a property management company oh wow that’s cool we got to Define it we got to protect you from your partner we want the rules the operational guidelines and we need a bank account and we need to get this thing Off to the Races legitimately your partner might just be a individual they might have their own es Corp they might have their own LLC again that’s their structure but on your side this is critical I want your es Corp to own it because I want all that profit to go through here and get filtered so it does not pay self-employment tax if you own it individually you’re going to pay self-employment tax just like we talked about about while ago in LLC number two if it goes straight to you you’re paying tax we do not want that so we want to clean the money we want to funnel that profit through an escorp and you already have one you only have one escorp that’s what you need I’m going to show you here in a minute I only have one es Corp in my life for a reason so this money comes funneling down through the escorp you take your W2 salary you do your reasonable cob you got your strategy figured out with your Tax Advisor you got a lawyer that knows what they’re doing setting it up properly and maintaining it affordably and now your escorp is a partner in a new partnership that is partnership number four right same type of LLC this LLC is for holding assets LLC is for operations but with a partner we’ve changed the type of LLC there you go that’s it that is LLC type number four when you partner with someone else now as an aside I know that this topic itself can be a little daunting oh how do I find the right partner how do I build this relationship with a partner yada yada big topic right I just did a podcast on this I have an amazing podcast called The Main Street business podcast over 500 episodes millions of downloads and it’s because it speaks simply real language real understanding to The Listener on these complex topics you’ll love it so get into the feed on that there’s a link below to the podcast and listen to the podcast on partnering I’ve got podcasts on all sorts of these topics and more you’re going to love that podcast and where do you find it apple or Spotify where everybody else goes it’s mainstream podcasting at its best you’re going to love it finally number five LLC this is going to as you can imagine these are getting a little more special a little more unique but the fifth type of LLC we call a special purpose LLC or an IRA LLC H what is that well let’s go to the trifecta so in an IRA LLC and let’s build the table here we’ve got our LLC with a rental property we’ve got our partnership LLC with another rental property so this was number one this was number four then over here we have our little side hustle LLC maybe that’s number two and then oh many of you are going to graduate to the SC Corp so you’ve got your number three LLC okay everything’s going well and oh all of a sudden the sun rises in the East and you learn about self-directing investing your Roth IRA your traditional IRA your 401k your health savings account investing it in what you know where you can get an incredible rate of return because you’re not just maybe buying stocks bonds and mutual funds you’re investing in local business businesses real estate notes syndications oil and gas things that you know and you want to invest in well you get to do that and Wall Street does not tell you this I’ve been preaching this from the rooftops for 20 years Wall Street wants to manage your money I want you to invest your money in what you know best it’s called self-directing now the directed Ira podcast another one of my podcast and the our directed Ira Trust Company links down below will help you learn about the strategy and understand it but this my friends is what the ultra wealthy do they take their IRA and invest in what they know best now what does it look like that brings us to LLC number five so over here you might have created a little solo 401K maybe you have a Roth IRA maybe you have a traditional IRA maybe you have a health savings account and you take one or all of these and you create an LLC and you get to be the manager of that LLC and you literally have a check book with your retirement accounts and you go out and make freaking money and again you get to choose what you want to do again it could be small business down the street it could be real estate it could be notes could be crypto anything that you feel confident in doing your due diligence certainly certainly there’s a risk you’re going to invest this money you got to know what you’re doing but you’re going to do your best and tend to get we see it every day better rates of return than just 5 6 7% in some stock brokerage account now I’m not saying wall Street’s bad I’m not saying stock Brokers are bad or whatever I’m just saying if you know that there’s a great deal and you can get 10 15 20% returns why not this is how Peter teal owner of PayPal and Facebook and the list goes on and on has a $6 billion WTH and he started with five grand back in 1999 just like the rest of us and over the last 25 years he’s invested it in startups and venture capital and it is now worth 5 billion but every year he gets to put in his five or six grand yay you can do the same thing you can invest in whatever you want to know so this my friends is number five a special purpose we call it an IRA LLC now your cost to set up an LLC like this will be a little bit more this more complex but I’m talking maybe $1,500 to $2,000 with a real lawyer designing it teaching you how to do it we stand behind the strategy is very welln very common and at directed ira.com you can get started moving your retirement accounts there to prepare for the LLC and then you call the La firm and meet with a lawyer and boom you’re off to the races with a special purpose IRC very common and exciting to really exponentially grow your wealth inside your retirement accounts now if you’d allow me to I’d like to share my story a little bit because I I think you might relate with the same Journey we’re all on trying to live our American Dream formed my first company back in 1996 I know I look a little younger than that but no that was a joke but I uh I’ve always been an entrepreneur I I was a kid always with the lemonade stand and to get through college the only thing I knew how to do was be a janitor I used to clean my dad’s offices in high school and on the weekends with my mom and my brother and sister and I thought hey when I get to College I’m going to open my own little janitorial business and I did and uh man it was hard for seven years I I cried when I fired my first employee I mean I was learning all the Hard Knocks of small business ownership and I’d sometimes work through the night cleaning restaurants or buildings and learning how to hire and fire employees and then go to class at 8:00 a.m. but I was committed to entrepreneurship and I wanted to be an accountant or and ultimately a lawyer I caught that Vision along the way and I wanted to help other small business owners and and I got passionate about helping the Main Street small business owner I didn’t want to go work in a big city law firm or corporate building I wanted to be on them on the streets a Main Street working in a van down by the river and uh so as I worked through college building my small business and learning about small business I I really felt like I was on that same path of you are where you’re living month to month and it’s tough sometimes you’re putting the next business expense on a credit card to pay employees or whatever the case may be I’ve been there but don’t give up you can do this and if it’s helpful if you allow me I want to share my Trifecta today because it it took me 25 30 years to get where I’m at and it doesn’t happen overnight I love getting rich slow I don’t need to get rich quick and when we have that mentality we start to not compare ourselves to others but here’s my you know path and where I’m at now so my Trifecta sometimes my family’s like really you’re going to share that out there well I’m not going to give you my address or anything but um so I have one escorp in my life and I teach that to a lot of clients this is the first company I formed back in 1996 and I’ve had it ever since I maintain it I keep it strong and healthy and this little escort partners with any other structure that’s ordinary income we talked about that so this could be the law firm it could be a real estate deal uh it could be uh my Main Street tax pros and then if I make money on online or I go to a speaking event or I uh I have sell books or anything uh I’ll put a event here anything I’m going to make that’s operational I push into my es Corp I take a salary and everything else is profit same thing you’re doing if I’m going to go create an operational entity I don’t use LLC number two anymore I don’t I don’t need this little LLC on the side I let my es Corp own it and that’s how you’ll expand I probably have three or four llc’s owned by my escort then over on my operational side I’ve got multip rentals I’ve got a couple airbnbs I’ve got a low-income housing deal in in Chicago area I’ve got a rental property in Utah and Idaho I probably have let’s say two or three llc’s the own rental property and I’ve got probably two or three Partnerships where we own rental property I like rental property it’s a cool deal and what owns all of those llc’s my trust all goes into my trust now what’s fun is over in this area oh I’m going to expand that so let’s say say we expand that that section I have multiple llc’s that are owned by my Roth IRAs or my health savings account I have a health savings account that owns an LLC that owns a rental property I have an LLC owned by my Roth and my kids Roth that’s not Kid Rock love Kid Rock but my kids Roth IRAs and we do crypto Mining and it’s it’s been super cool to be out there in the crypto space with Roth IRAs I have another 401K Ira LLC over here is doing I know this sounds funny but Ing and raw land and investing and uh I owned some cows in my llc at one point I’ve sold those looking at this next deal for next year but the fun part here is that these different llc’s Encompass this self-directing space and I learned this from wealthy clients I was just plugging along buying a rental property here and there and and I was building my operational business over here and I had more and more wealthy clients come in and say Mark I need an LLC cuz I’m going to go invest in this and this and syndicate and crypto and blah blah blah and I’m like oh my gosh I got to be doing that too and that’s where these special purpose llc’s come in so you know I just want to say that this trifecta this picture is really a manifestation of where I want to go I love drawing out my Trifecta I carry it with me it’s on my laptop and I like to look at it CU I can I can get a feel of where I’m going I would love you all to have a trifecta I would like you all to manifest where you’re going with your American Dream which llc’s you need which ones are going to be be coming up which ones you need to get rid of it’s an ongoing process don’t beat yourself up and just realize sometimes you got to pay a dollar to make five my wealthy clients pay for good tax advisors they pay for good lawyers they don’t overpay but they have regular meetings trying to build their structure and their plan so today as I talk about these five llc’s these are building blocks they’re building blocks that the wealthy use to make and build wealth and save taxes and you can be on that same journey and I’ve got the resources I mentioned them throughout this video down below and I hope that you felt inspired to click on some of those uh resources because it’s going to help you on your journey now in summary I hope you’ve realized and found out you could be using five different llc’s isn’t it exciting and uh if you didn’t catch that Vision or that point go back and watch this again um and I really tried to deliver the details the actionable items there’s this is not just raw you know rah rah rah or blah blah blah this is this is really the secrets that the wealthy use and what I use and it’s it’s not a get-rich quick scheme it’s a get-rich slow scheme and you can do it and it’s super powerful so please take action today do a demo if you’re interested in becoming a tax adviser get help at the law firm if you need to take your retirement account and control it and continue to build wealth get the consultations you need get the new tax adviser out of my network and level up I’m going to be there right with you the tribe and community that I have loved to build over my career is only getting bigger and I’m not going anywhere and I’m going to help you live your dream to and one other resource I haven’t mentioned yet is my tax and legal Playbook this is a best-selling book second edition breaking down the LLC strategies and more this will become your guide book on your journey to build your American Dream check out the Amazon link below

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