Jeremy Bollinger and Ian Grove stay on the myth-busting train to tackle a viral claim: "How the rich use LLCs to hide assets and avoid taxes." Short answer? They don't—at least not legally. This episode breaks down what LLCs are actually for (liability shielding and risk siloing), why "hiding" is just another word for tax fraud, and how sloppy structures and commingled cards can pierce the corporate veil and put your personal assets back on the hook.

They also cover the reality behind:

• Foreign accounts and crypto disclosure questions on your 1040

• Why more entities ≠ more savings (often it's more compliance, more fees)

• When expenses are business vs. personal (ordinary & necessary, facts & circumstances)

• Car write-offs, mileage tracking, and the limits of "wrap it = 100% business"

• Estate planning as a legit use of entities (valuation discounts, gifting) that doesn't "solve" income tax

• The guiding mantra: risk vs. reward—and why clickbait "one size fits all" advice flops in the real world