Asset Protection for Real Estate Investors with Scott Smith
b"Scott Smith is a real estate investor and asset protection attorney in Austin, Texas. He graduated from Albany Law School and began his career in high-stakes corporate litigation. He is the founder and CEO of Royal Legal Solutions, serving investors and companies across the US. With experience in entrepreneurship, starting several successful companies and owning real estate in 10 states, Scott will pull from his expertise as a lawyer to put a new and valuable perspective on business ownership.\\n\\nScott Smith \\u2013 Fight or Flight\\n\\nScott graduated with a bachelor's degree in Liberal Arts and was unsuccessful in securing a job right out of college. \\xa0As a result, Scott competed in the MMA for a couple of years. He then transitioned to real estate investing for 8 years and then did litigation work for 4 years. \\xa0Scott was now doing legal fighting; playing what he called \\u201cmental chess.\\u201d \\n\\n\\u201cThe mental side of fighting, that\\u2019s the part that is draining. \\xa0When you have the flight or fight response, your brain doesn\\u2019t really know that much of a difference between when I\\u2019m stepping inside a cage versus when I\\u2019m stepping inside a courtroom. \\xa0There\\u2019s still the same attack mentality ad defense mentality and the fight of flight is in there the whole time.\\u201d \\u2013 Scott Smith\\nFinal Transition\\nScott then transitioned back to real estate investing after burning out and becoming fatigued. \\xa0It was a natural transition. He now helps others with asset protection which is a level of protection that if you\\u2019re sued you don\\u2019t need to worry about it. \\xa0His business he realized that most real estate investors and entrepreneurs have no idea how to use the law to insulate themselves. \\xa0Scott assist clients in tax saving strategies to help pay for everything that Royal Legal Solutions can provide.\\nLegal Strategy\\nThe first legal question is regarding setting up an LLC. \\xa0Scott shares that most people have an idea for a business and they form an LLC. \\xa0He advises to keep it simple. Set up your LLC and then file S-Corporation with the IRS. You then become an employee of the S-Corporation. \\xa0Finally, you will need to file a separate tax return.\\n\\n\\u201cYou will save yourself over 15% on self-employment tax..\\u201d \\u2013 Scott Smith\\n\\nTo hear more strategies for your business from Scott Smith, download this episode.\\n\\nDon\\u2019t forget to leave us a 5-star rating and review if you enjoyed the show. We would love to hear from you!\\n\\nCheck out these links for Scott Smith:\\n\\n \\tWebsite\\n \\tLinkedIn\\n\\nDownload Joe Crane\\u2019s\\xa0Top 7 Paths to Freedom\\xa0or get it on your mobile device. Text VETERAN to 38470. \\xa0\\nJoin the Veteran on the Move on Facebook!\\nCheck out\\xa0Veteran on the Move on Facebook\\xa0to connect with our guests! It\\u2019s a great place where you can stay in touch with other veterans who are transitioning to entrepreneurship.\\xa0 Get updates and free gouge on the people, programs and resources to help you in your transition to entrepreneurship.\\n\\nVeteran On the Move\\xa0podcast has published over 200 episodes. Our listeners have the opportunity to hear in-depth interviews conducted by host\\xa0Joe Crane\\xa0. The podcast features people, programs and resources to assist veterans in their transition to entrepreneurship.\\xa0 As a result,\\xa0Veteran On the Move\\xa0has over 1,000,000 verified downloads through\\xa0Stitcher Radio,\\xa0Sound Cloud,\\xa0itunes\\xa0and RSS Feed Syndication making it one of the most popular Military Entrepreneur Shows on the Internet Today."