Royal Tax Podcast: Recent Episodes
Royal Legal Solutions
The Royal Tax Podcast offers you tax and financial strategies to the next level. Join Megan Templeton Royal Legal Solutions' Consulting Attorney and Royal Legal Solutions CPA, MBA, and CFO, Pete Schindele each week as they talk about how to take your tax and financial strategy to the next level and learn how to build and scale your real estate investing business in a way that maximizes your returns and minimizes your taxes. This is for informational use only. For direct questions please contact us or your local tax CPA accountant.
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
KEY TAKEAWAYS
First, what is a custodian? Investopedia describes it as " ... a financial institution that holds customers' securities for safekeeping to prevent them from being stolen or lost. The custodian may hold stocks, bonds, or other assets in electronic or physical form on behalf of its customers."
In this session, Pete breaks down a few key differences between the Self-Directed IRA and the Solo 401k as they relate to custodian duties.
Tax code regulations dictate that if you are using an IRA, the custodian must be a 3rd party bank or trust company. This means that they control when, where, and how assets are invested. Pete explains that this reduced flexibility for investors makes the Solo 401k a beloved alternative.
So what's the difference? With a Solo 401k, you are your own plan administrator. You take on the role of the bank, trustee, or custodian, and the fiduciary responsibilities fall on you. With that, you have the freedom to invest your funds directly without having to work through a 3rd party custodian for a fee.
There are some caveats, though, such as being responsible for monthly, quarterly, and annual reporting. Along with keeping good records that document distributions.
Listen in as Pete and group members discuss how this retirement vehicle can be used to invest in various asset classes, including real estate to grow wealth with less hassle than an IRA.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL INVESTING and attend for FREE on Zoom, Wednesdays at 11:30 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Asset Protection, Tax Strategy, or Estate Planning?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
For tax questions complete this quiz: https://go.royallegalsolutions.com/tax-discover-quiz
For insurance questions complete this quiz: https://go.royallegalsolutions.com/insurance
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: http://royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith
https://www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
KEY TAKEAWAYS
The Inflation Reduction Act is creating a lot of buzz. While the IRA has been signed into law, tax service providers and investors alike await the release of IRS guidance as to how the provisions will be applied. Curious about what clauses are most relevant to you, as a real estate investor? Join us as Pete Schindele, Royal Legal Solutions CFO gives a run down on two areas in which you can cash in on green energy rebates.
Changes to the Residential Energy Efficient Program Credit
- The credit period has been extended through 2033
- It may be applied to non-primary residence
- Qualified product upgrades include heating and cooling systems, appliances, water heaters, lighting, building products, and appliances.
Qualified Plug-in Electric Drive Motor Vehicle Credit
- Amended and renamed the Clean Vehicle Credit
- A new requirement states the final assembly must occur in North America
- Imposed income cap at $300k for married couples
- Claim a credit of up to $7,500
Pete also touched on changes in Medicare where out-of-pocket expenses were capped and more.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Asset Protection, Tax Strategy, or Estate Planning?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
For tax questions complete this quiz: https://go.royallegalsolutions.com/tax-discover-quiz
For insurance questions complete this quiz: https://go.royallegalsolutions.com/insurance
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: http://royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith
https://www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
KEY TAKEAWAYS
Have you wondered how you would file taxes if you had or formed a partnership through an LLC or Series LLC? Partnerships are required to file additional documentation with the IRS called form 1065.
An entity owned by two or more people is considered a partnership by the IRS. The one exception is if the partners are married. In this case, married partners may choose to file a joint personal tax return and forgo form 1065. However, there may be advantages to filing form 1065. Find out why you might want to file form 1065, even though you technically don't have to, in this session of Royal Investing with Pete Schindele.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Asset Protection, Tax Strategy, or Estate Planning?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
For tax questions complete this quiz: https://go.royallegalsolutions.com/tax-discover-quiz
For insurance questions complete this quiz: https://go.royallegalsolutions.com/insurance
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: http://royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith
https://www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
KEY TAKEAWAYS
This session of Royal Investing opened with a quick presentation about tax implications relative to land trusts. Not all trusts are required to file taxes. Revocable trusts are the simplest to set up and have no impact on your tax filings.
The remainder of the time involved a QA session with attendees. Scott provided valuable insight on a variety of land trust questions, including:
- Does a land trust need to be listed on my insurance policy and an additional insured?
- How does a land trust add a layer of asset protection?
- Who should sign as the trustee to maintain anonymity?
- How does discovery work if a litigation attorney is considering taking a case?
- Can I do anything to protect my assets if I am already involved in a lawsuit?
- ... and more!
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Asset Protection, Tax Strategy, or Estate Planning?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
For tax questions complete this quiz: https://go.royallegalsolutions.com/tax-discover-quiz
For insurance questions complete this quiz: https://go.royallegalsolutions.com/insurance
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: http://royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith
https://www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Megan Templeton, Esq. Megan Templeton is from Birmingham, Alabama. She attended Auburn University and graduated in three years with a Bachelor’s in Psychology. While attending Auburn University, Megan was actively involved in the Auburn Honors College and Omega Phi Alpha, a service sorority. Upon graduation from Auburn University, she pursued her Juris Doctorate from Samford University’s Cumberland School of Law and her Master’s of Public Administration from the University of Alabama at Birmingham. Megan obtained both her JD and MPA in December 2015. Megan’s previous law positions have included clerk at the U.S. Attorney’s Office of the Northern District of Alabama, manager of a closing and title company, and currently the owner and principal attorney of Iron City Law, a boutique law firm in Birmingham, AL serving small businesses and the real estate community.
KEY TAKEAWAYS
Royal Legal Solution's CFO, Pete Schindele, led an informal discussion about appropriate entity selection for real estate investors to maximize tax savings. Many people start out as a Sole Proprietorship that sets up an LLC for asset protection from personal loss. As your business grows, you will find that an S Corporation or C Corporation may be more beneficial to lower your tax burden by avoiding the self-employment tax.
Pete shared a simple cost benefit analysis guideline to help determine which entity structure is the best relative to current business size or earned income. Also, learn how your decision may be affected depending on if your income is active or passive.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Asset Protection, Tax Strategy, or Estate Planning?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: http://royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith
https://www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
In our final Royal Tax live group mentoring session, Pete shared changes in the tax code that were most relevant to real estate investors.
These included:
- Standard deductions increase for all filing statuses
- Health Savings Account contribution limits increased
- Estate Tax and Gift Tax limits raised
The group discussed other ways to reduce their taxable income, such as hiring your children to work for your business. One of our seasoned investor attendees outlined the mechanics of how he maximizes his tax advantage through a structured approach to compensating family members. At the same time, he highlights the significance of using this as a technique to teach responsibility while creating generational wealth.
Additional ideas were shared by group members that are worth a listen.
Ready to catch up and see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Equity stripping is a varsity-level real estate move, but it’s also an asset protection classic for good reason. If you are unfamiliar with equity stripping, please see these resources as a primer to the somewhat advanced conversation during Royal Tax group mentoring.
- Equity Stripping for Real Estate Investors
- The Pros and Cons of Equity Stripping
- 5 Strategies for Protecting the Personal Equity in Your Home
Ready to catch up and see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
This episode involved an informal discussion amongst participant about how their tax filing experience had gone. Attendees volunteered that many had filed for an extension. Is this a relevant concern of yours? Don’t worry. Filing an extension is especially common to investors who may be delayed in obtaining necessary paperwork to file. One example of this is the K1 documentation.
During the Q/A portion, members asked questions to clarify the Real Estate Professional specific to when you should vs. when you shouldn’t take this designation. Enjoy the collective wisdom shared in this group session.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
This session opened with clarification on the application of the August Rule.
Augusta Rule: Homeowners Can Earn Tax-Free Income
Then, Megan Templeton, Esq. led a group discussion about the best apps for real estate investors and entrepreneurs to track and manage their activities.
Recommendations were shared in the areas of:
- Business expense tracking
- Time tracking
- Reciept tracking
- Streamlining communication channels
Discover a few techniques used by seasoned investors. These solutions range from robust and high-tech to "tried and true" legacy methods.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
In this informal tax savings strategies question and answer session, attendees shared some of their favorite and most effective tips. The discussion opened with an in-depth comparison between a Traditional IRA, a ROTH IRA, and a Solo 401k. Are you getting the most out of your retirement account?
Learn the nuances between these qualified retirement plans to ensure you're putting your money in the right vehicle to drive your financial freedom goals. This conversation ran the gamut and took a full 90 minutes. Jump in to discover new ways to lower your taxable income, increase your return on investment, and navigate retirement plan options with confidence.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Cost segregation is a tax strategy available to the following:
- investment property owners
- owners of properties used to operate a business
You don't pay the depreciation expense out of pocket. Instead, you claim the fee and have less of a tax burden on your income. Cost segregation maximizes the amount of depreciation expense by accelerating the decline of your property's value.
Want a refresher or to see what you missed? Watch the replay.
ADDITIONAL COST SEGREGATION RESOURCES
Read: Minimize Taxes through Cost Segregation (blog post)
View the Cost Segregation Slide Deck (ppt)
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
It's common knowledge that rental income is typically classified as active income. This income is then reported on a 1099 Schedule C and incurs self-employment tax of around 15%. What you might not know, is that there are ways to structure a short-term rental business so that it qualifies as passive income. Passive income is exempt from self-employment tax. Listen in as Pete presents the distinctions followed by the IRS and as group members chime in with their personal experiences.
Want a refresher or to see what you missed? Watch the replay.
View Short-Term Rental: Active vs. Passive Income Strategies (ppt)
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Pete presents the August Rule opportunity afforded to homeowners in this session of Royal Tax. The Augusta Rule, known to the IRS as Section 280A, allows homeowners to rent out their home for up to 14 days per year without needing to report the rental income on their individual tax return. If applied strategically, this could result in a substantial amount of tax-free earnings. Find out how you can maximize your advantages allowed through the Augusta Rule.
Want a refresher or to see what you missed? Watch the replay.
View the August Rule (ppt)
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of Gryphon Financial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
If you are a sole proprietor or a sole proprietorship taxed as an LLC, you may qualify to deduct home office expenses on your Schedule C when you file taxes. This in effect will lower your taxable income and in turn, your tax bill.
Pete outlined four requirements that must be met to qualify:
1. Exclusive Use. The space is designated solely for work purposes.
2. Regular Use. The space is used on a regular basis.
3. Business Use. The work done must be a trade or for-profit business.
4. Principle Base of Operations. This is the primary space used for your business.
Learn the different ways the deduction can be calculated along with what other related expenses you can include. Finally, Pete and Scott shared a couple of useful strategies real estate investors could employ to legally take advantage of the home office deduction. With some restructuring, you might find that you qualify for this useful tax bill reduction technique after all.
Want a refresher or to see what you missed? Watch the replay.
Home Office Deduction Worksheet (pdf)
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Royal Legal Solutions CPA, Pete Schindele demonstrates the use of a decision tree to decide if it makes sense to convert funds from a Traditional IRA to Roth or a Solo 401K.
When to Convert Decision Tree
Consideration #1: Tax Bracket. Do you think you will be in the same or higher tax bracket when you retire?
- Yes – Move on to question 2
- No – Converting to a Roth may not make sense, but still need to run an analysis
Consideration #2: Time Horizon. Do you expect to start making withdrawals after 5 or more years?
- Yes – Move on to question 3
- No – Converting to a Roth may not make sense, but still need to run an analysis
Consideration #3: Tax Payment. Do you have enough money out of pocket to pay taxes due on conversion?
- Yes – Conversion to a Roth IRA may make sense
- No – Converting to a Roth may not make sense, but still need to run an analysis
Pete continued by providing an explanation of how this might look relative to various income scenarios. Find out if converting retirement funds is worth considering for you.
Want a refresher or to see what you missed? Watch the replay.
FREEBIES
Convert a Traditional IRA to Roth or a Solo 401K (pptx)
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Learn how an S corporation provides significant advantages over sole proprietorships or traditional corporations—both in terms of limited liability and reduced taxation. An S corp is not a separate type of business entity. Rather, it is a designated tax status for businesses that meet certain criteria. S corporations are pass-through entities. Unlike the C corporation, any profits or losses incurred by the S corporation are filed along with the owner’s personal returns. This is where having a tax savings strategy becomes paramount.
Maximize deductions. Pete and attendees shared tips regarding allowable deductions, such as Healthcare Premiums, business meals, travel expenses, equipment, and mileage.
Redirect income to reduce tax. By paying yourself a modest wage, you may be able to lower your taxable income and contribute earnings into a Solo 401k retirement plan.
Keep good records. One participant underscored the importance of maintaining formal agreements and documentation in the event of an audit. Some tools to assist in bookkeeping of expenses include Expensify, veryFi, and a variety of mobile apps for tracking mileage.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Who qualifies to set up a defined benefit plan (pension)? Self-employed entrepreneurs and W-2 earners that generate enough income through a side hustle are eligible.
What are the advantages of setting up a self-funded pension? A pension will guarantee you a regular income in your retirement years. Funds that you put into your pension annually reduce your taxable income and therefore result in tax savings while increasing net worth.
Is a self-funded pension a good fit for you? If you have income in excess of $20,000 that you can fund your pension with, it will save you ~$6k in taxes. Before you take action to create a self-funded pension plan, it would be prudent to do a cost-benefit analysis. Other factors such as where you are in your career or age may impact your decision. For example, if you are near retirement age, you won't have as long to wait to access those funds compared to someone younger.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Royal Legal Solutions CPA, Pete Schindele walks attendees through the various Solo 401(K) use cases for different kinds of sole proprietors and illustrates the potential tax savings for each.
Solo 401(k) contributions are based on net income from self-employment (i.e., you can't contribute more than you make.)
- For 2021, the contribution limit is $58,000 or $64,000 if 50 years of age or older.
- For 2022, the contribution limit is $61,000 or $67,500 if 50 years of age or older.
There are several types of contributions you can make into your Solo 401(k), including:
Employee Contributions
- Can be applied as pre-tax, Roth, or voluntary after-tax.
- Roth contributions: Includes the catchup amount for those over 50 years old.
- Voluntary after-tax contributions: Do not include the catchup amount for those over 50 years old.
Employer Contributions
- Can only be applied as pre-tax contributions.
- These are not affected by the contributions made to a daytime job 401(k) plan.
Want a refresher or to see what you missed? Watch the replay.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Creating a 501(c)3 is an option for high-income earners, including W2 employees who aren't eligible to enjoy alternative tax-savings strategies such as the Solo 401K or Real Estate Professional designation.
What are the benefits of setting up a 501(c)3? Setting up a 501c3 will not only create a legacy but will also: lower your taxes today, can be invested in property, and pay you a salary to run it.
Am I able to donate to my own charity? Absolutely! You can donate real estate to the 501(c)3. If the property is worth more than $5K, you will need to get an appraisal to get the FMV for the tax write-off. Taxpayers (including friends, family, and other investors) can donate up to 50% of their AGI to the charity. This donation can save taxpayers thousands of dollars by lowering their taxable income.
How does this strategy impact my cash flow? In addition to lowering taxable income, you are able to draw a reasonable salary for the non-profit operations and expenses. You are not required to take a salary, but it may be a good option during retirement years when overall income is lower.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL TAX and attend LIVE on Zoom, Tuesdays at 1:00 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
What is the benefit of taking the Real Estate Professional designation? With the Real Estate Professional designation, you can use depreciation to offset income taxes and capital gains taxes. Your measure of ROI then becomes revenue generated by your business + the reduction of taxes paid.
What are the Real Estate Professional designation requirements?
- Material Participation: Individuals satisfy the material participation test for a particular activity by participating throughout the year on a regular, continuous, and substantial basis.
- 750 Hours Annually: Individuals must spend at least 750 hours per year in real property trades or businesses in which they materially participate.
- More Than 50% of Time: More than 50% of the individual’s working time must be spent on real estate activities in which the individual materially participates.
Are there any caveats? Individuals who work a full-time W2 or 1099 job may still qualify as long as good records are maintained that serve as proof of time spent on your real estate business.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL TAX and attend LIVE on Zoom, Tuesdays at 1:00 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Using a Solo 401(k) retirement plan is an ideal way to lower taxes, save money and free up funds to invest in real estate.
- What is a Self-Directed Solo 401k? A Self-Directed Solo 401k is perhaps the most popular plan today. Probably one of the biggest selling points of this 401k is how easy it is to set up. With a Self-Directed Solo 401k, you serve as the trustee and have complete control over investments made for retirement.
- Who is eligible for a Self-Directed Solo 401k? The two requirements for establishing a Solo 401k include self-employment activity and no full-time employees. If you are actively performing services or doing something to earn self-employment income, you can count that as self-employment activity.
- What are the contribution limits? If a Solo 401k plan is your only retirement account your overall contribution limit is $58,000 for 2021 (or $64,500 if you are 50 or older). If your spouse is a participant in your Solo 401k plan this increases your combined total contribution to $116,000 (or $129,000 if you are both over 50) per year.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL TAX and attend LIVE on Zoom, Tuesdays at 1:00 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
- What is an S Corporation? An S Corporation is a set of tax rules that can be used by a wide range of entities: corporations, limited liability companies, or limited liability partnerships. As long as it is what the IRS considers an eligible entity that’s made an S election with the IRS, it’s considered an “S Corp”.
- Why would I be interested in an S election? With the S Corp election, profits allocated to shareholder-employees aren’t subject to payroll taxes. Small business owners (including real estate investors) use the S Corps election to save thousands in payroll taxes.
- What is a pass-through entity? They don’t pay taxes. Instead, the company’s profits (or losses) are passed through to its owners for tax purposes. Each owner will include their portion of the company’s profits and losses on their personal tax returns and pay taxes based on their individual tax bracket.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL TAX and attend LIVE on Zoom, Tuesdays at 1:00 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the S Corporation Masterclass. This resource contains a 30-minute video course and ebook. You'll know more than your local attorney, financial advisor, or CPA after attending the Masterclass and reading this e-book.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/
ROYAL LEGAL SOLUTIONS
Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.
MEET THE HOSTS
Scott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.
Pete Schindele, CFO, CPA. Pete is from Boise, Idaho, where he attended the University of Idaho and earned a Bachelor of Science in Business, majoring in Accounting and Finance. Pete has been a licensed CPA in the State of Idaho since 2011. He is the owner of GryphonFinancial Consulting, PLLC, a boutique consulting firm in Boise, advising small businesses and real estate investors on budgeting, forecasting pro forma financial statements, scenario analysis, tax, and financial modeling. In 2020, Pete joined Royal Legal Solutions as their Chief Finance Officer. Pete enjoys domestic and international travel, attending concerts, and seeking out investment opportunities in real estate around the Northwest.
KEY TAKEAWAYS
Using a Solo 401(k) retirement plan is an ideal way to lower taxes, save money and free up funds to invest in real estate.
- If you're self-employed and don't employ others, you are eligible to open a Solo 401(k).
- A married couple running a business together also qualifies.
- You can contribute to your Solo 401(k) as both an employer and an employee.
- You can choose between a traditional plan or a Roth plan. Each has its own tax advantages.
- You can choose to use contributions to buy real estate investments.
Want a refresher or to see what you missed? Watch the replay.
REGISTER FOR ROYAL TAX and attend LIVE on Zoom, Tuesdays at 1:00 p.m. CST.
Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.
ENGAGE WITH US
Are you ready to take action on Tax Strategy?
Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0
DISCORD COMMUNITY
https://discord.gg/KKS7rZG5kM
WEBSITE: royallegalsolutions.com
LINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith. www.linkedin.com/in/scott-royal-smith/
FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. www.facebook.com/groups/495820367909918/