An LLC Doesn’t Make You Bulletproof & Tons More Tax and Entity Advice

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Taxes. IRS. Audits…

Does the very sight of these words give you the creeps?

Trusts. Entities. S-Corps…

Are you breaking out into a cold sweat right now?

I get it. Details about taxes and entities can be confusing, complex, overwhelming and downright scary. Well, good thing we’re here to swoop in and make some sense of all of this in easy-to-understand, digestible info.

And by ‘we,’ I mean attorney, accountant and strategist John Hyre.

John is the guy with all the answers, friends… and, he should know it all, with 19 years of experience as a tax attorney and accountant, plus 14 years as a real estate investor. BAM! Expert in the house.

Not only is John a trusted advisor and friend of mine for over a decade now, but he’s assisted thousands of clients nationwide, from newbies to commercial operations. And, based on his extensive real-world audit and tax court experience, he wrote two fantastic investor resources: KISS Guide to Entities & Asset Protection and KISS Guide to Bookkeeping. (Do yourself a solid and check those out, pronto!)

John’s kicks off this video session with a top-notch presentation about all things taxes and how they relate to your investing business including non-entity asset protection as well as entity asset protection, audits and record-keeping.

As you’ll hear John explain, corporations, LLCs, trusts are important to protect yourself and your business, but most people (investors included) are looking at them with the wrong perspective. He says you should be spending more time on how to not get sued to begin with and how to win if you do!

John also tell us why he advises his clients to ‘Be British;’ helpful resources that provide tenant-landlord legal guides; the #1 reason why people sue in the first place; why a case settling doesn’t help you; and so much more…

More tax tidbits covered:

When you can’t be polite – do this instead
Why you need to watch out for slimy people who oversell complexity
In what situation an LLC makes sense vs. an S-Corp vs. a C-Corp
On which schedule your first few deals should be placed on your tax return
Which type of investor should have an S-Corp from day one
If you do this with a trust – you’re an idiot
Why trusts are for serious money
How to deal with audits and why we’re seeing fewer of them
If you don’t know the exact answer to an IRS question – you should say this
The #1 defense in an audit
Suggestions for what record-keeping tools to use and what not to use

We didn’t stop there…

Look, John is bringing to the table nearly 20 years of real-life tax experiences and stories from his career as an attorney, accountant and investor. This remarkably candid – and oftentimes hysterical – webinar is packed with info to set your mind at ease. Knowledge is power, people!

Plus, after John’s insightful presentation, we opened up the floor for a rapid-fire Q&A session.

Wanna know about the cheapest audit John ever did? Us too! Do you know how you should be saving your receipts? Yep, that’s in here too. Plus, why John flirted – yep, full-on, get your mojo groovin’ flirt on – with an IRS agent. Oh, and did I mention Salma Hayek is discussed? (Talk about mojo?!)

See, John freely admits that America has a screwed up tax system. But, he’s the guy to make sense of it for us. He tells it like it is so you know how to properly move forward in your investing business.

So get to it –check out this uber-informative webinar replay full of tax, entity and asset protection essentials.

Pro Tip:

This is a full webinar, so if you’re short on time or attention span, feel free to use the lower-right “gear” to speed it up and watch faster… Or slow it down to hear us sound drunk if you want. Cause that’s always fun.

Whatcha think?

If you have a question or comment, drop it in the comments section below.

Patrick & JP

Hi, we are Patrick and JP and we are real estate nerds, older and somewhat more respectable than we typically look, and mostly pretty good friends. Patrick: Visionary, freelance ponderer, unapologetic iced coffee enthusiast, loves beach volleyball, local IPAs & flipping pillows over to get to the cold side. JP: Communicator, troublemaker, bacon evangelist, harsh critic of them who put clothes on their pets, loves Costco samples & traveling everywhere like such as. Together: They combine to form the Giant Superhero Robot that is Awesome REI.

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10 comments
Stephanie Daley

There’s do much awesome vibrant, variety from you. I just wasn’t to daddy thanks I appreciate alkyl that you’re doing. I spend my free time teaching and trying to learn and absorb. You’re Awesome!!

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STEPHEN SHAW

Thank You! You guys are the definition of over-deliver! this is loaded with bonuses thanks for keeping the customer in customer service.

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Melissa

You mentioned kissbookkeeping in your presentation – a way to keep track of all things financial related to REI. I can’t find it on your site at the address you gave; awesomerei.com/kissbookkeeping. Can you point me in the right direction?

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marco

loved the straight talk and the eye opening!!!
thanks so much and hope to be using these resources correctly soon. yes!

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Ronald Boren

I just got my wife a solo roth 401k 2 weeks ago.
Do I need to get a Wyoming LLC to buy pre-taxsale deeds in case the county bans me, it would ban the LLC only?

Reply
    Patrick Riddle

    Hey Ronald, that’a good question for a legal professional who can advise you based on your business model, where you’re doing business, risk tolerance, etc.

    – Patrick

    Reply
Neal Thompson

Thanks

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