I'm excited to share the details with you today of the Beemint blueprint.
So the Beemint blueprint, it's a set of three different types of entity structures
that you can use as your base for building your wealth,
growing your business. Growing your assets,
getting into more real estate but with these three structures and I'm going to
go into the details here in a minute you can build on to those
and you're not going to be limited by by not one,
not having the correct structure being limited by the different types of tax deductions
but I I don't like to have complexity for complexity sake and when I
recommend to clients this specific structure the Beeman blueprint it's going to be
a structure that is complex enough to get you the benefits like the tax
benefits and the asset protection but not overly complex just for being
complex for complexity sake so here is what it is so I think
in my opinion every single person should have an operating company and
its operating company is an S corporation it be taxed it be an LLC
and we'd convert it to be taxed as an S corporation and then you'd
also have an investment holding company this would also be an LLC taxed as
a partnership and then the third one that I recommend as part of this
blueprint is for everyone to have a private foundation this is a a family
private foundation so you can fulfill your your charitable goals and be as
philanthropic as you want to be so you've got the operating company which is
an S corporation the LLC which is a partnership that's the investment holding company
and then you have the private foundation that's the charity the charitable
side of things so youve got those three entity structures so once
youve got the S corporation set up and this this is for people that
are owning and operating a business or providing services selling goods
and products and even if its not your full time job if its not
something youre doing full time you could have a W2 job still I would
still recommend having that S corporation as long as youre doing something
else on the side. I do I highly recommend those side hustles for people
because it does open up the opportunity for you to earn more income of
course which is good but then have deductions and create deductions for things
sometimes that youre already paying for so youre getting income thats essentially not taxed
which is great through that s corporation and then it allows you if youre
getting into owning more businesses going into like partnering with people in businesses
your s corporation could own your portion of ownership of that other business
and thats on the operating side now under the LLC like the holding
company the investment company side that would not be shared with anyone else it
would either be just you or you and your s spouse and you
own that and then that would own rental properties through likely other LLCs
it could own if you're getting into syndicated real estate you could own your
portion of the ownership through that.
Investment holding company we want to keep those separate like operating company on one
side compared to your investment company your holding company on the other side because
often times if youre out there like putting yourself out there and earning income
and providing services that could that could mean youre gonna be at a
higher risk for getting sued there's usually higher risk with that you want to
keep those operating activities separate from your asset holding companies your investment holding company
because that's where the assets are thats where the value is you want those
to be as risk free as possible nothing is ever gonna be 100%
risk free but you want it to be as risk free as possible and
thats why on that investment holding company side we want to add additional layers
of LLCs each time you own a new property you want to put that
in a new LLC owned by your holding company up above that.
So thats kind of the main operating and investment side and then again
Ive mentioned the as part of the BMIT blueprint Ive mentioned the private foundation
that I recommend for people if you are not a charitable person or maybe
you are but if youre not giving to charity you dont plan to give
to charity or or having charitable things
that youre setting up like if you wanted to basically run your own charity
thats what this private foundation is if its not part of your long term
goals maybe youre not doing that last step but most people at some
point they want to do you they want to do that they want to
grow their wealth they want to get rich quick they want to get the
money and they want to help other people if you want to help other
people having that private foundation is a great way to do that so there
it is theres the beemint blueprint and again this is the basic starting level
and then adding the additional tiers we we just build it so you can
add on to it later but it's complex enough where you get the benefits
and remember you've got the operating company is yes corporation partnership which is the
LLC investment holding company and your private foundation so thats it thats the
BM blueprint thats one of the reasons why were different why im different and
what i recommend thats what i do personally as a CPA im not just
a CPA tax advisor telling other people to do thats what i do personally
thats how ive structured my own finances and over the last few years thats
what ive been sharing with other people and recommending to them as well so
have a great rest of the day
