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Video instructions and help with filling out and completing What Form 2220 Liability

Instructions and Help about What Form 2220 Liability

Now, why do I make this recommendation to create an LLC? It is because an LLC provides two forms of protection. Now, this initial protection doesn't really apply right now to currency, but I'm going to explain it to you anyway so you get a good understanding of how LLC's work. LLC's will provide inside protection as well as outside protection. So yes, LLCs are limited liability entities. They cover limited partnerships and limited liability companies. Alright, so limited liability companies look like this. They're a-okay. Now, this is a limited liability company right here. These are assets, these pieces of candy. So, I have the orange and the yellow, those represent Dinar $25,000 notes going in there, a whole bunch of them. And I've got some blue ones too, rental property that I have and put that in there. And then I've got a bunch of other stuff, cash as savings, maybe put a vehicle in there, and what else? You might have some gold. I throw it all in there. Now, does this protect me? Absolutely, because with LLC's, when they're created, these are just holding entities. So you own the LLC. You no longer own the assets themselves. You own the LLC. So, as the owner of the LLC, you're insulated from whatever happens inside of the LLC. So if you have assets inside of here and something happens and a lawsuit develops inside of the LLC, does anything happen to me? No, nothing happens to me because I own the LLC. The LLC can have all the liability at once, but nothing happens to Clint. You see the asset protection there? You see how I'm protected? Because the liability stays trapped in this LLC and I can just roll the LLC away afterwards and all the...