If you’d like a free copy of the book, just email us at team@thewealthelevator.com and tell us how you found us.

In this episode, we dive deep into various tax strategies tailored specifically for business owners. We cover essential topics such as home office deductions, the Augusta Rule, paying your kids on payroll, Solo 401(k)s, and advanced strategies like captive insurance. The first half of the podcast is dedicated to potential tax changes currently under review by the Senate. We discuss extensions of the Tax Cuts and Jobs Act, increases in qualified business income deductions, and more. In the second half, we bring on guest Patrick Lonergan to discuss specific strategies for business owners and how to optimize personal taxes linked with business operations.

00:00 Introduction to Today's Podcast

00:18 Overview of Potential Tax Changes

00:41 Extension of Tax Cuts and Jobs Act

01:26 Bonus Depreciation and Section 179

03:13 Qualified Opportunity Zone Program

03:57 State and Local Tax Cap Increase

04:33 Lifetime Estate and Gift Tax Exemption

06:19 Additional Tax Changes and Implications

08:03 Infomercial: Family Office Ohana Mastermind

08:35 FOOM and Real Estate Professional Status

11:33 Tax Strategies for Business Owners

14:00 Home Office Deduction

17:09 The Augusta Rule

21:28 Family on Payroll

24:37 Qualified Business Income Deduction

29:18 Level Two Tax Strategies

37:27 Setting Up Retirement Plans for Solopreneurs

38:46 Navigating IRS Audits and Employee Classifications

39:17 Overview of Level Two Tax Strategies

39:37 Understanding ROBS and Roth Conversions

41:08 Introduction to Level Three Tax Planning

41:22 Captive Insurance: Benefits and Risks

46:38 Investing Through Captive Insurance

55:31 Level Four: Tax Fraud and Evasion

57:30 Common Pitfalls and CPA Involvement

01:05:39 Final Thoughts and Contact Information

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We explore the downsides of investing passively in real estate syndications and why you might instead consider investing in smaller rental properties on your own. We discuss limited control, investment illiquidity, high minimum investments, and operational challenges. Despite these cons, we also briefly touch upon the advantages of syndications such as diversification and tax benefits. We highlight the importance of due diligence, building trust and relationships within investor networks, and understanding the tax efficiencies offered by syndications through cost segregation. Join us to uncover if passive real estate syndication is right for you and learn about strategies for successful investment.

08:48 Cons of Real Estate Syndications

09:45 Investment Illiquidity and Portfolio Management

10:54 High Minimum Investments

12:12 Crowdfunding Websites: Pros and Cons

13:06 Differences from Rental Property Investments

13:44 Building Trust and Network in Syndications

15:02 Limited Control in Syndications

16:13 Prerequisites for Participation

19:21 Tax Benefits of Syndications

21:26 Conclusion and Additional Resources

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📚 Unlock the secrets to building wealth! My book and 12-module Masterclass cover everything I’ve learned about passive investing and creating financial freedom. Watch it on-demand for FREE: http://thewealthelevator.com/master

🤝 Join the Hui Deal Pipeline Club and get a one-on-one call with me to discuss your investment goals: https://thewealthelevator.com/club

Understanding Asset Protection and Trusts with Brian Bradley | Managing Wealth and Legal Risks

In this episode, we dive into the complexities of asset protection and trusts with experienced attorney Brian Bradley. We explore various strategies for shielding your assets from lawsuits and creditors, including offshore trusts, bridge trusts, limited partnerships, and the pitfalls of domestic options. Ideal for high-net-worth individuals or those in high-risk professions, this episode offers valuable insights into legally safeguarding your wealth. Brian also answers audience questions about structuring entities for real estate investments, managing legal risks, and the implications of fraudulent conveyance. Created by Doug Lodmell - The Bridge Trust® combines the protection of a fully offshore asset protection trust with the simplicity of a domestic trust

37:29 Introduction to Asset Protection

37:54 The Cost and Value of Setting Up Trusts

38:22 Understanding Irrevocable Trusts

38:51 The Bridge Trust Explained

39:38 Legal and Practical Considerations

42:40 Fraudulent Conveyance and Legal Risks

50:49 Different Types of Trusts and Their Uses

56:10 Cost and Process of Setting Up a Bridge Trust

57:45 Alternatives to Bridge Trusts

01:01:45 Future of Asset Protection

01:01:50 Challenges in Asset Protection

01:02:10 Specialization in Law Firms

01:02:36 Asset Protection Strategies

01:02:57 Offshore Trusts and Hybrid Options

01:05:46 Domestic Asset Protection Trusts

01:06:54 Insurance Limitations

01:08:18 Real-Life Legal Scenarios

01:09:36 Integrating Existing LLC Structures

01:10:07 Benefits of Limited Partnerships

01:12:09 Breaking the Bridge in Asset Protection

01:14:20 Role of Offshore Trustees

01:21:42 Importance of Pre-Litigation Planning

01:23:37 Final Thoughts and Q&A

Connect with me:

LinkedIn: https://www.linkedin.com/in/lanekawaoka/

Facebook: https://www.facebook.com/TheWealthElevator

Instagram: https://www.instagram.com/TheWealthElevator

Lane Kawaoka is a developer and multi-family syndicator who owns 10,000+ rental units and is the leader of “Hui Deal Pipeline Club” which has acquired over $2.1 Billion AUM of real estate by syndicating over $200 Million Dollars of private equity and most importantly distributed more than $45M back to our investors since 2016.

Check out our Top-50 Investing Podcast, The Wealth Elevator.

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