Posted by Ryan R. on October 25, 2007 at 24:16:09:
Why would you want to sell your entire corporation? Assuming you are right about the capital gains taxation. What about if you dont want to sell your entire corporation, but just your house. Then it would make sense not to include it in your corporation. Maybe not for the same reason as Sage said, but if the only way around not paying the taxes is to sell the entire corporation thats absurd. Buying real estate and selling within two years is considered a capital gain to the Government. So you will be taxed. Unless like in this instance you are selling the home in which you reside. If you own a property for longer than two years it is not percieved as an investment for capital gains to the Government. Therefore there wont be any capital gains tax if you sell it after two years. You are right posession is 9/10ths of the law, but how long its in your posession also comes into play. Perhaps you should work for Sage yourself.
Posted by Joe McDermott on July 11, 2004 at 14:55:26:
Does anybody have any suggestions on building/establishing credit for a c-corp? My corp will be 2 yrs old in Jan.05. I’d like to start working towards building a good line of credit, and possibly loans for RE purchase. Thanks Joe
Posted by KeyWestDan on January 31, 2007 at 23:33:27:
Nobody really answered the question. I have a c corporation and have a D&B number, etc. The big question is, does the Ray Reynolds plan tell you specifically how to get credit in the corporate name? I can get company credit but every credit card app for a business card is actually using my personal credit as the basis for it and wants me to co-sign. Does the plan really tell you any secrets for actually getting credit? Is it included in the TV offer of $40 or so?
Re: corporate credit/ Beware Ray Reynolds - Posted by Bob Granger
Posted by Bob Granger on July 30, 2004 at 24:07:50:
Re: Mr. Ray Reynolds I would check with the file the Dist. Attny in San Diego has on him regarding his past Credit Repair Co.s also the Better Business Bureau
in Colton Cal. has an ongoing file on him.
Posted by kentuckywoman on December 18, 2007 at 01:45:44:
That’s what I’d like to know, too. The infomercial says you can get corporate credit regardless of your personal credit history. That sounds too good to be true, and you know what they say about that. Has anyone out there actually used this system to set up a corporation without personal credit or with bad personal credit?
Re: corporate credit/ Beware Ray Reynolds - Posted by rick fowzer
Posted by rick fowzer on June 17, 2010 at 22:46:12:
ray and some clown name ron have cheated me out of 600.00 dollars and they are not to worthy to there word and are dodging me i recomend not dealing with them so you dont loose as i have thank you
Re: corporate credit/ Beware Ray Reynolds - Posted by Adam Knight
Posted by Adam Knight on August 19, 2008 at 19:57:22:
He took $7200 of mine for a teleseminar, and when I tried to log in, he kept denying me access, and won’t respond to my emails. Total fraud, scam, or whatever you want to call it.
Re: corporate credit/ Beware Ray Reynolds - Posted by Adam Knight
Posted by Adam Knight on August 19, 2008 at 19:56:05:
He took $7200 of mine for a teleseminar, and when I tried to log in, he kept denying me access, and won’t respond to my emails. Total fraud, scam, or whatever you want to call it.
Re: corporate credit/ Beware Ray Reynolds - Posted by Bettie Gavins
Posted by Bettie Gavins on May 12, 2008 at 11:40:55:
This company gives misleading information. With a start up package I also accepted the real estate package for $58.40. About a month later I recieved a call from a repreentative from ray reynolds corporation stating that he had call to assist me with my business. I was charged another $3,000 which I paid thinking he was helping me with everything at that cost. I told him that I was paying $58.40 a month and he stated that he would get that stopped since I had entered the $5,000 dollar plan. It has been six months and 58.40 is still being debit from my card. I have tried to handle the matter but only get lies and the run around. Plus the suppose to be real estate package I recieved was the same as the business start up package. I thought they made a mistake and sent the same package twice. I waited for a call to return the package but noone ever call. With the continous debiting of my account I ask why this was happening when I recieve nothing or no help from them. He ask if I recieved a package and I said yes, but they are the same, he ask me to return it and I did but I am still being charged through the Monterey financial center. Something must be done to stop this fraud through the internet. I am going through the government to seek help because my business is suffering and I am paying for nothing each month.
Re: corporate credit/ Beware Ray Reynolds - Posted by Lisa M.
Posted by Lisa M. on October 15, 2007 at 04:34:41:
I find it comical to read that people hand over money willingly then are
mad about it. You’re not going to get rich, or get credit no matter
what a TV commercial says - that my dear friends is common sense
your Mama should have taught you. I’ve bought dozens of programs
over the years for informational purposes and learned from all of them.
Are any of you people aware of HOW EASY IT IS TO START A
CORPORATION OR LLC on your own? You do not need someone to hold
your hand. I had a company at 21 yrs old on my own. Do yourselves a
favor, get off your asses and read. Go to the secretary of state in your
state and find out what papers you need. If you want to pay me
thousands to do this stuff for you, sure I will! But why? Buy Ray’s course
if you want it for the info then go out and do your own thing.
Re: corporate credit/ Beware Ray Reynolds - Posted by Coralyn Hill
Posted by Coralyn Hill on October 11, 2004 at 12:30:11:
I gave Ray Reynolds $699 and received absolutely NOTHING from him. I have called numerous times, and
they just say they will call me back, which they never
do. That is alot of money for me, and he burned me completely…He is a scammer.
Posted by jason brown on October 12, 2004 at 03:56:32:
i just forum my s,corp and,iam a beginner at investing in real estate in calfornia i,live in the bay area ,i would like more information on bulding my corporation,i have no financing just my s,corp and some knowledge in the real estate investing game. i would like to join your team…and learn investing,and bulding my corporate credit to make money i am unemployed right now only because real estate is what am going to do!invest…!
john, I hope other people answer this question. I ordered a program through Ray Reynolds in CA. His website is www.incorporatingyou.com His seminars are expensive and the material I ordered was $400+. I think he has a $50 video on developing corporate credit. I received the video and your corporate credit hinges on developing a Dun & Bradstreet paydex score with your corporate Tax ID #. I am in the process of filling out the paperwork he sent me to open a C-Corp. in Nevada and start the process on developing my corp. credit. I have no recommendation for this program because I am still following it. Currently, I have leveraged my personal credit to fund my real estate deals and have hit the wall. It seems that once you learn the corp. credit route, the amounts you can raise are unlimited, however, the rates are credit card level rates.
I would be interested in if you can develop a paydex score for LLCs, instead of C-Corp?
Interesting that Rick Fowzer owuld say someone cheated him since he still owes me over $3k form a contract we entered into in Auguust 2009. I want my engines or my money Rick.