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business. This would be the C corporation. The C corporation would manage and market that new business, as well
as provide services for the S corporation, such as the purchase of equipment and products. Jim would also have to
ask a CPA to transition his LLC so it could be used for a planned real estate transaction. Forecasting is about
creating a paper trail and keeping it simple. For this, Jim needed a chart of accounts for each of his entities to
provide him with the maximum tax strategies and a chart for expense management.
These examples reflect how the entities you create play a vital and interdependent role in your capacity to
manage your expenditures and focus on your wealth building. In my experience, this step is where the majority of
