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Donald Trump says that if you want to be a millionaire, you must get your tax affairs down to the legal minimum.

Money Mastery is a book written by a gentleman named Alan Williams, who said the exact same thing.

There are a lot of reasons for that, but Donald Trump used a slide in a presentation that he allowed my friend Sandy Botkin to use that inspired this article. It’s a very interesting slide. It shows what happens if you’ve got a dollar that doubles every year.

Ok, you start with $1. At the end of year one, it becomes $2. At the end of year two, that doubles and becomes $4. At the end of year three, it becomes $8. At the end of year four, it becomes $16. At the end of year five, it becomes $32. It just keeps doubling.

When you get to 20 years, it is $1,048,576. That $1 bill doubled for 20 years is now worth over $1-million.

Now, watch this. Same dollar doubling, but let’s assume you’re in the 35% bracket. You pay 35% of what you make in taxes, and you add all of the income taxes, the state income taxes, the capital gains taxes, the sales taxes, the transfer taxes, the property taxes, I can go on and on, the hotel taxes, the internet taxes, and gasoline taxes. And 35% is actually conservative.

This time take taxes out of the doubling effect, take that dollar and double it, instead of it being $2, like in the other example, it’s only worth $1.65 because you’ve got to pay at least 35% of that in taxes. And the $1.65 doubling isn’t $3.30, because you’ve got to pay part of that in taxes. It’s only worth $2.70.

Even though it is the same dollar doubling, but now with taxes, take a guess how much that’s worth at the end of 20 years. Remember, the other one was $1,048,000 without taxes. Take a guess how much it’s worth with taxes each year?

Would say probably around $600,000?

Try again. Maybe you’d guess $400,000?

Nope, $400,000 is too high, go ahead give it another shot and try again.

Can’t be less than $300,000 can it?

Much less!

Is it $200,000, less? You’ve got to be kidding! How about $150,000?

Not yet, keep going, one more guess…Less than $100,000?

Yes, much less. You’re never going to get it. It’s $22,370.

That is amazing.

People, you may think I’m crazy so go try it out on your calculator or accounting program and you’ll find its true.

The reason it’s true is not only do you lose 35% on everything you make, but here’s the important point, you also lose all of the interest, all of the compounding year after year.

That is why it’s worth only $22,370. There is nothing more important than tax planning, absolutely nothing. It’s better than a raise. It’s after-tax money.

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Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Recently, he’s started an exciting new project on how to get viral residual income. Visit right now to find out how to get started!

A new term is breaking fast into the home business networking world. It is Viral Marketing for Residual Income.

Let me break that new term down for you.

You may be familiar with the Internet term “viral marketing” (Not meant to carry the bad connotation of a virus, but referencing “viral” as something that spreads quickly.) Here is one definition related to the Internet:

Viral marketing depends on a high pass-along rate from person to person. If a large percentage of recipients forward something to a large number of friends, the overall growth snowballs very quickly. This is the idea behind social media websites like Myspace.com and Youtube.com.

The mainstream catches a hold of an idea or story and, like catching a cold, spreads the “virus” by telling other to go look at the blog post or new video. Then those people spread it on to others and so on.

Residual income (passive or recurring income) is income that continues to be generated after the initial effort has been expended. (Compare this to most people’s income focus: linear income, which is “one-shot” compensation or payment in the form of a fee, wage, commission or salary.)

There are a variety of ways residual income can be earned. Here are some examples:

•  Transfer the rights to a book you wrote, a software program you created, a gadget you invented, or a song you recorded, to a company that agrees to pay you a percentage of each copy of your work sold in the future.

•  Become an actor and draw residual income from each of your movies, TV shows, or commercials, each time they run

•  Let an oil company drill a well on your property in exchange for a percentage of the revenue

•  Purchase an office building or other real estate that earns you recurring income through lease or rental payments

•  Start a savings and investment program that pays you residual income in the form of interest or dividends

•  Join associate programs

Regarding the last choice… Call them what you will, referral, reseller, affiliate, bounty or associate programs are very popular on the Internet. Some of them offer similar opportunities for earning residual income. Companies arrange such programs to compensate reps, resellers, dealers, associates, affiliates (or whatever the designation used) for promoting their products and services.

Reps are generally given a unique I.D. number and/or web page or site, so the company can track the source of each sale and compensate the proper rep.  (Keep in mind that many associate programs only pay one-shot commissions, rather than recurring, residual compensation for your efforts.)Most of us are probably covering our overhead and bills with earned income, requiring us to work, get paid, and then do it all over again.  But why rely only on that, when you can easily find ways to add residual passive income?  If you can incorporate viral Internet marketing to your earned income, you have what I would call the ideal. That’s a brief overview for you to start brainstorming over, for an easy answer to how you can take advantage of this powerful concept visit the viral residual income link below.

Get Viral Residual Income

Why Residual Income Is Smart Money, by Marty Foley, Money Matters

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Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Recently, he’s started an exciting new project on how to get viral residual income. Visit right now to find out how to get started!

Viral marketing is a new term about to explode wide open on the world wide scene of income opportunities. Is that some sort of crystal ball profjection or magical fortune telling trick from a traveling carnival side show?

Nope, just an insight of someone taking the concept of residual income and putting it on steroids.

Let me explain what I mean by magical formula:

Here is the magic formula:

Ideal: Viral Marketing + Residual Income =

Low Risk, High Return Passive Income!!!!

Why is Viral Residual Income or Lifestyle Income timing so important?

Here are the facts:

•  More than 500,000 new businesses start every month in the United States .

•  More than 50 million+ people are currently involved in a home-based business of some sort.

Here is the big problem: 80-95% of first-time business owners fail within the first five years. How could viral residual income help these new and home-based business owners?

Would it involve longer hours? No. Less time with family? No. More gross income, with little or no profits? No. More credit card debt and stress? No.

Viral Residual Income or Lifestyle Income is an income source earned with up-front effort, followed and supported by an incredible system that will perpetuate that income. By its nature, that system becomes the key element of social networking for those home-based and Internet businesses with high quality valuable content to help the end user reach their goals through an opportunity for lifestyle income.

As Rodney Dangerfield said in the movie, “Back to School,”…”That sounds like fantasy land!” But…

Fantasy Land …or a Real Possibility?

How to develop Viral Residual Income:

Look for a company that supports the online community that’s looking to start a home-based business… one that recognizes their number one need: Quality leads. Find one that overlaps the social networking and Web 2.0 approaches in supporting this explosive community.

Here is a sample system and solution to help you develop Viral Residual Income or as I like to call it a Lifestyle Income:

Go to www.viralresidualincome.com

This is one of the best tools and resources I have seen in many years to help you accomplish the goal of creating a residual income, but even more impressive is the fact that it can help you grow that income virally.

It does almost seem magical doesn’t it? It takes the social media and viral marketing aspects of the Internet marketing community and puts an income stream into it for you to benefit from…and of course be even more motivated to virally spread the news.

Can you use this idea for your business?

That’s a brief overview for you to start brainstorming over, for an easy answer to how you can take advantage of this powerful concept visit the viral residual income link below.

Get Viral Residual Income

Why Residual Income Is Smart Money, by Marty Foley, Money Matters

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Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Recently, he’s started an exciting new project on how to get viral residual income. Visit right now to find out how to get started!

The Network marketing industry, Multi-level marketing, Insurance industry, and membership programs are often built around the idea of building an ongoing stream of income from one sale.

Someone pays $99, or whatever amount, every month to maintain their life insurance or active status in their direct sales company and the agent or representative that introduced them to the company continues to receive a portion of that income.

It’s a great idea, and of course the evolution to make everything better has hit this concept too. But, what if you could make just one sale and get paid for a multitude of sales?

With the new term called viral marketing that is possible. During this article we will introduce the concept of Viral Marketing and several ways residual income can be generated by you and your company.

Viral marketing depends on a high pass-along rate from person to person. If a large percentage of recipients forward something to a large number of friends, the overall growth snowballs very quickly.” (If one could attach an income stream to that viral marketing, wouldn’t that be ideal?)

But what about the residual part?

Residual income (also called passive income or recurring income) is income that continues to be generated after the initial effort. (Compare this to most people’s income focus: linear income, which is “one-shot” compensation or payment in the form of a fee, wage, commission or salary.)

There are a variety of ways residual income can be earned. Here are some examples:

•  Transfer the rights to a novel you wrote, a software program or game you created, a invention, or a song you recorded, to a company that agrees to pay you a percentage of each copy of your work sold in the future.

•  Become an actor and draw residual income from each of your movies, TV shows, or commercials, each time they run.

•  Let an oil company drill a well on your property in exchange for a percentage of the revenue.

•  Purchase an office building or other real estate that earns you recurring income through lease or rental payments.

True, these ways of earning residual income generally aren’t that easy to implement. But there are even more attainable ways, better suited for the average person:

•  Start a savings and investment program that pays you residual income in the form of interest or dividends.

•  Create and market your very own information products.

•  Join associate programs.

That’s a brief overview for you to start brainstorming over, for an easy answer to how you can take advantage of this powerful concept visit the viral residual income link below.

Get Viral Residual Income

Why Residual Income Is Smart Money, by Marty Foley, Money Matters

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Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Recently, he’s started an exciting new project on how to get viral residual income. Visit right now to find out how to get started!

Like Nevada, Wyoming does not impose a state corporate income tax or other taxes. And like Nevada, the key is you must have nexus in the state of Wyoming in order to qualify for the tax savings, otherwise your Wyoming Corporation or LLC will need to register (or qualify) to do business in the state where you live and operate your business. This will negate any tax savings that Wyoming may have to offer. Even an Internet business must determine where nexus is created in the operation of their business.

“The state of Wyoming does not levy a personal or corporate income tax. Wyoming does not impose a tax on intangible assets such as bank accounts, stocks, or bonds, either. In addition, Wyoming does not assess any tax on retirement income earned and received from another state. Further, there is no legislative plan to implement any of these types of taxes.”

Less State Fees

Wyoming’s initial state fees are less than Nevada’s. Wyoming does not require an initial list of officers or managers, which will save you $125, although Wyoming does require a state business license of $100. The key, however, is to evaluate the benefit of Wyoming as the “pivot point” for your business and financial future, not the fees involved. 

One of the biggest mistakes made every day is using as the main criteria for business decisions, “What do you charge”? Price can be the worst way to evaluate the quality and results of a product or service. True, it’s a factor… but there are so many more important ones. Saving $200-$300 on incorporating fees when you are going to be investing (and must protect) tens of thousands in your business is not a wise decision.

Asset Protection

Many companies conclude that since LLCs started in Wyoming in 1977, Wyoming must offer the best protection. Let’s be clear: oldest does not mean best. Many more cases have gone through the Nevada and Delaware court systems and found stronger level of protection. Specifically, Nevada vigorously protects officers, directors, and the entity veil itself.

Privacy

Wyoming allows Nominee Officers and Lifetime Proxies. Attorneys and accountants are often asked to provide an anonymous “company cover” for their clients for added privacy. To do this, you need to appoint nominee officers and/or directors for the company. NCP recommends that you avoid this strategy, because privacy is very different from asset protection.

The key question here is, how did your assets get into the corporation or LLC? Typically, transferring assets into an entity is done in exchange for ownership of the entity. Therefore you exchange one asset (your cash or real estate) for another (most commonly, ownership interest in the LLC.) Money wired from your personal account to the newly-formed LLC also leaves a trail.

Unfortunately, privacy as a benefit is in many cases over sold by slipshod corporation formation services.

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Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Over the past 10 years NCP has assisted more than 4,500 business owners form LLCs and corporations in the state that’s right for them! Visit right now to find out what state is right for you!