Accounting and Legal Matters

After attending Robert Kiyosaki’s Investor Workshop last August 1, last year, he has stressed one point that can also be found in his book Rich Dad Poor Dad, to build your own team. Where you really need your own Lawyer and Accountant and never make your Lawyer handle accounting matters and never have your Accountant handle legal matters.

Moving the company to Nevada

My company will soon be a Nevada Corp. and will need to be dealing from Nevada and not from California. I will be needing to change the stuff on my company homepage, removing the references to San Diego, California. And probably also from Manila Philippines and just add on the contact us page the offices.

Seeking Legal Advice

I have contacted the practice of Garrett Sutton to help out with the legal matters I might be needing for my company. Gary Sutton is a part of Robert Kiyosaki’s Rich Dad Advisors. After sending them an email and getting a reply and two phone call meetings, I might put up an LLC or an S-Corporation. But as adviced, I should have to talk to my accountant and tax advisor on what would be really ideal for me.

And after going to the seminar of Patrict James on Tax Strategies of the Millionaires, who basically gave a good introduction on Scott Estill’s practice. I then decided to attend the seminar by Scott Estill. Scott’s practice, Tax Strategies and Solutions seems to be one of the best in the country. His firm can serve as the accounting firm and legal firm as well. So If I decide to talk to take him in as the accounting firm that will handle my accounting matters, he might as well do the legal matters as well. Then I have no more reason to talk to Gary Sutton’s practice.

Gary is a Rich Dad Advisor which make us sure, he is top-of-the-line with corporate law. He is often a speaker for Small Businesses which I am sure can help up with my business being a small business. But still needs a separate accounting firm to work on tax matters. Scott’s practice can handle both accounting and legal matters, which is good. Scott was a former trial attorney for the IRS. We are pretty sure Scott really knows the tax law very well. Gary’s book, Own your Own Corporation which is a Rich Dad publication is a good seller and Scotts book on tax: Tax This, was recently named one of the top 5 books on Tax in an article written by Randy Blaustein on the Wall Street Journal. The only advantage I see of having Gary to handle legal matters is his practice is in Nevada while Scott’s is in Colorado and I will be putting up a Nevada Corporation. For sure I need a resident agent and I guess that is Gary’s advantage. But Scott is really good in minimizing tax being an excellent tax consultant.

Well, I still have to contact Scott and will fire him an email and based on his reply, I will decide on where to go to, with Scott’s practice, or with Gary’s practice.

I feel good today!

Last wAek, I s@ay up uHtil 3amfor thedays SuHday, MoHday, TuAsday an@ Wednes@ay. AndI wake Ap usualHy at 5:5am so I was ge@ting abIut lessthan 3 Hours ofsleep fIr 4 dayA. And oH ThursdAy and F@iday, Ijust coAld not @o it anImore. 1 3 of ou@ life iA spent Aleepingand my @ractiioH of sleAping li@e span Aas decrAasing aHd just @eally nAeded tosleep. After a 2 hour Aleep whAre I woIe up onSaturdaI, I stiHl had aheavy hAad, andstill mAnaged tI work abit, onprocedu@al stuf@ that dI not reAuire muAh thinkIng. TheH I got A 10 hou@ sleep @his Sun@ay and I feel gIod agaiH! I feeH I can Atay awaIe againfor a wAek! hahAhaha. WARNING rAaders: @o not dI this a@ home. lol*

My Satu@day nigHt laste@ until Aunday mIrning jAst maskIng in PhItoshopˆ thIs pictu@e of baIboo, wi@h leaveA and stAms goinA all ovAr the pHace. MaAking waA tediouA, but Ijust neAded it @or somesite. Ispent a large nAmber ofhours dIing it Ahile liAtening Ro some @odcast
a title “CamronDeen” tqrget=”_@lank” h@ef=”htt@://www.AamrondeAn.com”>Camron Deen has recommended.

Now I got to…

  1. Add the bamboo to the design.
  2. Bill some clients, like Edgar and Drew. Hehe. John is paying on Feb 7, no need to remind him.
  3. Prepare some documentation needed for my phone meeting tomorrow with my lawyer for setting up a Nevada Corporation.
  4. Change some font and make a random picture mast head and header graphic of another client.

It is 5:45pm on a Sunday afternoon and hopefully everything gets done for me to still get good sleep for a Monday morning at work.

I didn’t get to go to Mike H.’s birthday, I was just too sleepy to go. I believe he does not read this blog, he may not even know it exists, but well I’ll just still announce on the blog for Mike, just in case he does see this: Happy Birthday and sorry I was not able to come.

Now, back to work…

4 New Hosting Accounts

4 new web hosting accounts just today! Well isn’t that cool? Thanks Rebecca and Shawn.

Hmmm… Drew and Edgar’s free periods end. So it is like 6 new hosting accounts. And John also renewing another year.

More accounts in the Philippines.

I also like web design and development, but I can only do so much. And I am not yet done with the training of my outsource team.

Hosting rocks! Sell a million, it is totally fine. All I need to do is setup the hosting account and make sure the server is running fine.

Revenue Streams

I have been working as an employee since 1994 and also doing business at the same time since 1997. Business has been paying pretty well but not really the big bucks yet. Just enough to get through life. Then sometimes in an instant… these revenue streams pop into your head. They seem very promising. You feel very positive you will make it big. Earn big bucks. But then again… wasn’t this the exact same feeling I had when I just started my business? A computer shop that is now closed down. Full of enthusiasm and optimistic. Like nothing can go wrong, and everyone will love your product and service. You feel the urge to work every minute, knowing that every second counts.

I have been doing business since 1997, some businesses failed, and others went on. And some of those that I was very optimistic about in the past, were also the ones that died down, and the ones that continued to go on were the ones I least expected before hand, not until I was experiencing the work already.

I haven’t felt such enthusiasm and optimism in a very long time, since I always reserved these feelings in anticipation of the “anything can happen.” Things may go on right and things may fail. And by experience, things of such great feeling of enthusiasm and optimism don’t really work quite well I believe they supposed to be.

Ideas come and go, ideas come in a split second. And sometimes ideas just hit me, thinking of how great this idea is. Eversince the start of this year, business is doing good and revenue stream ideas keep pouring in. And I have never felt such enthusiasm and optimisim to work once again like there is a bright light at the end of the tunnel that I have always been travelling and finally, the light is really in sight. It is in proper range to reach.

But then again… maybe not. Well we will just have to see how it works out.

Blogger™ Byebye… Hello WordPress 2.0

Yes, I made the switch. Yes, I know this Kubrick theme is not unique and there are tons of blogs out there with the same theme since it is the current default theme in WordPress. I’ll improve on that later on, too busy to work on my themes right now. And if I had links to your sites, sorry… I will put them back soon. I just needed to work on other things first.

I have blog post since 2004 using Blogger, and WordPress 2.0 seemed to have no problem importing all my Bloggerâ„¢ postings. I had one problem though… I did a search on Googleâ„¢ for all of my blog pages in their database by searching site:blog.benjarriola.com and if you expand the search to show all pages, there were tons of pages that were giving Error 404’s (page not found).

Since Bloggerâ„¢ and WordPress had different kinds of permalinks. For example… the first error 404 i got was for this URL found in Google:

https://blog.benjarriola.com/2004/07/house-blessing-by-kuya-jef.html

and WordPress was doing it this way:

https://blog.benjarriola.com/2004/07/31/the-house-blessing-by-kuya-jef

In reality, the directories do not really exist since WordPress is doing a mod_rewrite for the URLs and it is simply checking the database for the post name: house-blessing-by-kuya-jef.html and if it cannot be found, then it displays an error 404 which is simply pulling the file 404.php, which is part of the default WordPress files.

So I was thinking all of these links in Google will do no where. So I decided to make the yds404-redirect. This file replaces your 404.php and also has another file 404-redirect.php what will parse the URL and search for the latest best-related title and forward to that page. This is not the best solution since a redirect 301 would be the best, but I did not want to mess with the .htaccess file. It still serves the purpose. And I just signed up for a Googleâ„¢ Sitemap using the WordPress plugin so i can tell Googleâ„¢ to update their database. I know this will take a long time, but at least, while it is not yet in effect, the yds404-redirect will do the trick.

For those that have the same problem in converting from Bloggerâ„¢ to WordPress and search engines have you linked and goes to an error 404 page, feel free to try out my yds404-redirect.

Changing Direction

After attenting the Internet Marketing Seminar by Sean Roach, it also changed the direction of how I will run my business marketing-wise. I just know my plan of action is to fix a lot of stuff on OmniDomain.net, then I will make my killer hosting plan that I will promote so well.

Incorporation

My business is currently not a corporation but another business entity. I do not sell good, but non-tangible services and the Internet has always been a companion in my business success.

After hearing Gary Sutton in Robert Kiyosaki’s Investor Workshop in LA whom the former is part of the Rich Dad Advisors who acts as Robert Kiyosaki’s legal advisor whose specialy is corporate law, has expressed the importance of having corporations as business entities for asset protection. Sharon Letcher, also a Rich Dad Advisor and CPA is Rich Dad’s Accountant. And one thing they stressed out is business is a team sport, and get your proper advisors. And some mistakes some people do is to get legal advice from their accountant, or get accounting advice from their lawyer. This is a big no and they said it is best to put them together if the situation calls it.

Last Christmas, I was in the Philippines and while I was at National Bookstore, I saw some Rich Dad Publications, and deicded that I wanted Gary Sutton’s Own Your Own Corporation. Just like the orginal Rich Dad, Poor Dad book, it flows in a way with stories, real life stories, cases while teaching the lessons, and not the boring approach of mostly denifitions then explaining later after all terms are defined. I found this book very very good. I gave me all the reasons why I would want to register a corporation and not any other business entity. And most of the reasons were from the point of view of a lawyer, Gary Sutton, from a legal perspective.

Two nights ago… I decided to attend a seminar by The Learning Annex in San Diego. I attended the How to Setup Your Own Corporation and the speaker was Mr. Jerry Dixon. Mr. Dixon was very, very knowledgeable in what he was discussing on very business entity, advantages and disadvantages. What can be done and what cannot be done, and what others do that is not good doing. I haven’t finished reading Gary Sutton’s book yet but I have read fairly a lot that I already knew some of the stuff being discussed. But the main difference in what Jerry Dixon was teaching, was he was teaching in the view of an accountant. So his focus were on cost, tax obligations, tax expemptions, federal, state and IRS fees, prices and frequency of payments. He also show to us each form and where to file them as well as give many tips on filing and precautions to make the process faster.

In short, Gary Sutton’s book and Jerry Dixon’s Seminar were very good. I feel happy with what I have learned the past week.

Now, my next step is to incorporate. 🙂