touting like doing entities in the Cook Islands and like in the Bahamas and stuff.

And they're like, because you don't have to pay taxes on it. That is BS. Okay. Like if you make money in the U.S. and you're a U.S. citizen, there is no way out of it. If you're not operating in any of those states, we should not have an entity in those states. Frankly, if you are a U.S. citizen, you make money anywhere, you will pay U.S. taxes.

Don't think setting up some entity is going to get you out of paying tax. in those states. Frankly, if you are a U.S. citizen, you make money anywhere, you will pay U.S.

taxes. Don't think setting up some entity is going to get you out of paying taxes. Welcome, everyone, to the Main Street Business podcast. This is Matt Sorensen. excited to be with you today. Mark J. Kohler's out on assignment today. He's at a black tie gala. I don't know what you call it. But, you know, he gets those assignments. I'm back here in the office, slow minute

recording the podcast. But I'm here for you, for the people. But I have something better than Mark J. Kohler. I have Ashley Burr here. She's going to be my co-host for the day. She's an attorney in our firm, KKOS Lawyers, worked with a lot of clients already. She won our attorney competition. This is a

billing competition, but also has very high client satisfaction. So she's a winner, guys. That's

what I want you to know. So welcome Ashley to the Main Street Business podcast. Thank you. I'm

excited to be here. Okay. She was required to be here. I don't know. I'm excited.

You know, we'll see.

All right. Well, today's topic I'm really excited for. We are constantly helping small

business owners who go and set up an entity or they work with some lawyer that don't know what

the heck they were doing or they paid for some company service that is not licensed, that doesn't get in the tax

strategy, it doesn't understand asset protection.

And let me just say they have a business entity, but it's a piece of garbage.

And what we're going to talk about today is the five common mistakes people make when

setting up an entity.

What are the five mistakes we see every day here at the law firm?

And we see it. We clean up almost as many entities as we set up new ones because people are out

there screwing it up so much. Now, we actually have a special right now, our rehab special at KQS

Lawyers, where there's discounted services to fix your entity, to clean it up, to get some tax

planning and advice right now. So make sure you're getting over to KQSLoyers.com, where you can get some of our services to get your crap in order. But we want to give you the five most common tips today. So what would you say, Ashley, is number one, screwed up thing? Number one screwed up thing. I see, I would say that their entity has not been formed in the proper state.

Okay.

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