E28: Shell Corporations: What You Need to Know with Zachary Knox

Episode Summary:

On today’s episode of Transcend the podcast, I have my longtime friend Zachary Knox for you to answer some questions about shell companies, holding companies, and business in general. We also talk a bit about tax and I know these are definitely heavy topics, but Zach does a really good job of breaking them down and making them easier to understand.

Mr. Knox has successfully tried, mediated and arbitrated matters on behalf of clients in the areas of business and commercial law, civil litigation, and tax. His practice also consists of extensive advising of both businesses and individuals on matters, including personal finance, wealth and estate management, business entity formation, business development, strategic planning, risk assessment, commercial transactions, and commercial litigation just to name a few.

His approach is to deliver reasons and practical counsel to each of his clients while representing their interests with a results-oriented focus. Zach has a wealth of knowledge to share and you get to hear all this and more in this episode.

What You’ll Learn On This Episode:

• [03:53] Three primary reasons for creating a business
• [08:29] Why you should speak with an attorney when getting started
• [12:49] About shell companies and holding companies
• [15:56] The primary difference between a shell company and a holding company
• [17:56] Why choose a holding company?
• [22:43] Key points to know about taxes
• [28:09] Protect yourself from costly mistakes
• [31:57] The impact of accurate record-keeping for both business and personal matters
• [33:57] Keeping the bigger picture in mind