In this episode of Finding Financial Freedom, Dr. Disha Spath welcomes Ted Sutton, a licensed attorney with Corporate Direct, and Garrett Sutton, founder of Corporate Direct and the Sutton Law Center, to discuss how physicians and professionals can take control of their financial futures. From forming LLCs to avoiding tax pitfalls, Ted and Garrett break down the essentials of asset protection, business entity management, and legal compliance in an engaging and practical conversation.

With over 14,000 clients served and multiple bestselling books, Garrett Sutton brings decades of experience to help doctors secure their personal and professional assets. If you're thinking about starting a private practice or just looking to safeguard your wealth through asset protection strategies, this episode is the perfect guide.

Key Topics Covered:

1. Why Physicians Need Asset Protection

• Learn why it's crucial to protect not just your practice but your personal assets, and how business entities can shield your wealth.

2. The Essentials of Setting Up an LLC

• Step-by-step guidance on forming an LLC, understanding the "continuity of obligation," and ensuring it's done right from the start.

3. Maintaining Compliance with the Corporate Transparency Act

• How this new law affects business owners and what you need to do to stay compliant.

4. Avoiding Common LLC Pitfalls

• From neglected paperwork to improper renewals, discover the most common mistakes that can jeopardize your LLC—and how to avoid them.

5. Garrett Sutton's Expertise in Asset Protection

• Insights from Garrett's bestselling books (Start Your Own Corporation, Loopholes of Real Estate) and decades of experience helping professionals secure their financial futures.

Resources Mentioned:

• PearsonRavitz
• Rich Dad Poor Dad by Robert Kiyosaki
• Veil not Fail by Garrett Sutton
• Start Your Own Corporation, Loopholes of Real Estate by Garett Sutton
• Corporate Direct Website
• Sutton Law Center

Listener Takeaways:

• Understand why forming an LLC is essential for protecting both your medical practice and personal assets.
• Learn the critical steps to setting up and maintaining a compliant business entity under the Corporate Transparency Act.
• Avoid common mistakes in LLC management and ensure your financial and legal safeguards are rock solid.

Connect with Us:

• Host: Dr. Disha Spath, The Frugal Physician

• Guests:

  Garett Sutton, founder of Corporate Direct

  Atty. Ted Sutton of Corporate Direct

• Follow us on Instagram, Facebook, and Twitter for updates on upcoming episodes.

Thank you for tuning in! Be sure to share this episode with anyone navigating student loan repayment.

This episode is sponsored by:

PearsonRavitz – Helping physicians safeguard their most valuable assets.

This episode is also sponsored by

FacetWealth – Discover how Facet is transforming financial planning for physicians with personalized, flat-fee financial planning—visit facet.com/frugalphysician to start building your financial future today.