Get the right business structure
“Order and simplification are the first steps towards the mastery of a subject.” – Thomas Mann
These days, we live in a litigious society and anybody who is in business for themselves is always at risk of being sued. The best way to protect your assets is to operate your business through a family company or a family trust. This will not only give you an extra layer of protection against bankruptcy but it will also enable you to save tax through income splitting.