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Are You a California Resident?

Are You a California Resident?

Many people believe that as long as they are outside the state of California for six months and a day they are not residents of California. And thus don’t have to pay California’s high income taxes. But the state of California is both broke and arrogant. And they make the rules the way they want.

Design Your Asset Protection Plan

Design Your Asset Protection Plan

You design a lot of things in your life. The layout of your house, the flow of your business, the requirements on your children, and many more scenarios are all elements of conscious design. Asset protection is no different. There is an architecture, a cohesive...

Corporate Opportunities

Corporate Opportunities

Does the Rule Apply to Real Estate? If you invest in and/or syndicate real estate what are the duties to your investors? You owe them a duty of loyalty. But how far does that go? The issue of corporate opportunities is important. I wrote a whole chapter on it (from...

Credit Reporting is Big Business!

Whether you’re a real estate investor, business owner, or just a consumer who has paid bills, you’ve got a credit report. And that report is probably more important to your financial life than any report card you ever received in school. In fact, it plays a key role in what kind of credit you get and how much you pay. Even if you don’t ever borrow or use a credit card, it likely affects how much you pay for your auto and homeowner insurance. So you have to know what’s in your credit report, as well as how credit reports work.

Credit reporting agencies (more commonly called “credit bureaus”) are in the business of compiling information about people’s bill-paying habits and selling that information to other companies that may want to extend credit, insurance, or even a job offer, to them.

There are three major, national credit reporting agencies reporting on personal credit in the United States: Equifax, Experian (formerly TRW), and TransUnion. Plus there are hundreds of smaller credit bureaus that are affiliated with one or more of these “Big Three.” These specialized agencies get information from one or more of the three major bureaus and may supply additional credit information as well. There are also business credit bureaus; Cortera, D&B, Equifax and Experian are the main ones that compile reports solely on businesses around the world.

Credit reporting is big business, and the major credit reporting agencies are businesses in competition with each other. They are all trying to make their reports “better” than the others and they will not share information unless they are required to do so by law. That’s one reason why, when you see your credit report, you’ll see that it looks somewhat different depending on which agency supplied it. While most of the accounts will likely show similar information, they won’t all be exactly the same.

Are You a California Resident?

Are You a California Resident?

Many people believe that as long as they are outside the state of California for six months and a day they are not residents of California. And thus don’t have to pay California’s high income taxes. But the state of California is both broke and arrogant. And they make the rules the way they want.

Design Your Asset Protection Plan

Design Your Asset Protection Plan

You design a lot of things in your life. The layout of your house, the flow of your business, the requirements on your children, and many more scenarios are all elements of conscious design. Asset protection is no different. There is an architecture, a cohesive...