All Forum Posts by: Greg O'Brien

@Alvin Sylvain yup prob won’t happen. States have long been prevented from clawing back. However if the courts have massive changes, who knows!

Good luck enforcing this. Those who own private businesses would have dozens of ways to manipulate the value.

Appeals on value could get tied up for years.

@Christopher Smith I have seen it several times, but not always in RE.

@Mike Dymski well I’m not sure this post was considering 4 years of pandemics. These were bipartisan emergency measures (and the left actually wanted far more). I’d look at Nov 16- Feb 20 vs last 3 months and make a judgement on that, good or bad.

@Cliff H. I have no agenda, CPAs don’t sell insurance. However, clients use this strategy on their own( its not an investment) so Ive spent dozens of hours doing research to help guide them as well. PM me and I can share my summary of research.

@Jamie H. integrating your tax planning with retirement will be key. Having a consulting entity should open up the world of tax planning to your family

@Tony Kim interested on why you think some of the wealthiest RE investors, as well as companies, use this method if it doesn’t work? Check out the balance sheets of big banks. WH is not an investment agreed but cash flow banking is a tested system, IF, the investor studies and understands it.

I’ve always directed clients to study this for months before diving in. Studying does not include reading BP either!

@Cliff H. The WCI article is 4”rather and biased flawed by someone who is not an expert. Its been ripped apart several times over the years. Independent research should be done by anyone looking at CFB. Some of my wealthiest clients thrive off it but they know exactly how to leverage it properly.

Yep!  IE Bob Corker (retired) and what he did at 11:59pm on the TCJA!  He slipped in RE friendly language for the QBI deduction....come to find out he has a mini RE empire. 

The EIDL should not be used for outside purposes other than in your design business. The 1st fraud case was about someone using EIDL to buy a house (funny but that really happened and he was indicted). Who knows who will get audited, prob <1-2% BUT when signing, you are attesting you will not use for any other purposes. If you do, the SBA considers that gov’t fraud.

Re: payroll, if you did not offset with PPP and you are maintaining normal wage level (assume you are an S corp), not using for dividends, that should be OK. Of course, run your facts by your CPA/tax advisor!