WHAT PAST ATTENDEES HAVE SAID
John Hyre's
Horrifyingly Detailed Entities
Class Recordings
Missed out on Hyre's Entities Online Class Live? No Worries! You can still gain access to the recordings of ALL 8 SESSIONS
Topics Hyre covered in detail:
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Non-Entity Asset Protection: Not getting sued, winning if you do, making sure insurance pays if needed, how good settlements occur. These topics are not covered often enough.
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LLC, LP, LLP, S-Corporation, C-Corporation, Series LLC, Land Trust? We'll discuss which one(s) fit(s) you for tax purposes (any asset protection is a bonus). In detail. Selecting the correct entity can save you millions in taxes. The wrong one...will cost.
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We discuss "WHY" in detail. I want you to have answers AND to understand WHY a given entity or structure is correct for YOU. That way you'll know how to question & reason through others' "advice" (e.g., NV & UT "asset protection gurus")
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Where to set up your entities? Nevada? Delaware? Wyoming? Home state?
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Holding companies: What they are, what they do, what they don't do, when they do or do not make sense. For example, holding companies should NOT also act as "management companies" or pay bills on behalf of other entities. We'll discuss "why".
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Management companies – when they make sense and when they do not. These are WAY oversold by the Nevada/Utah crowd. They often create a lot of work and little benefit. Sometimes they offer large, worthwhile benefits. We'll address both scenarios.
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Keeping it simple in the beginning...and when to start adding entities to your structure
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How many entities? One per property? (Hint: Generally not a good idea, we'll of course discuss "why" that is)
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How to properly maintain an entity – 80%+ of small businesses fail at this key task and are ripe for "piercing the corporate veil". We will take some serious time on this very overlooked issue.
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We'll compare Limited Liability Companies to No Liability Companies.
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When C-Corporations make sense – and when they do not. Lots of myths out there.
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Equity stripping.... when does it backfire? (and it does?)
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Series LLC's...not necessarily as advertised (shocking, I know)
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Limited Partnerships are mostly just for Canadians nowadays – we'll discuss why that is no joke (Sorry SouthPark and polite northern neighbors)
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When do S-Corps work? What are they good for? Many of you are running them in a way that kills both the tax benefits and the asset protection
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Rollover Business Start-Ups (ROBS) – my favorite tax tool, The One to Rule Them All (no Nazgul, I promise). Work for a C-Corp owned by your Roth 401k, take a salary (or not). Pay 21% tax, make the Roth 401k Huge. I have clients who shall save 8-figure sums using this tool.
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Stop it with the "Inter Company Loans" and "Due to/Due From Accounts" - they will kill you for both tax and asset protection purposes. We'll discuss the correct way to move money between entities.
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Which entity for Rentals? Sub2's? Airbnb's? Flips? Lease Options? Lending? Buying notes at a discount? And "other"...
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Offshore Entities ...and yes, sometimes they do actually make sense. They also have limitations, we'll cover those too.
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Help Me Help You
Keep What's Yours!
NO DISCOUNTS FOR ANYONE, DON'T ASK. I MEAN YOU, REAL ESTATE INVESTORS. SHEESH!
Topics By Session
I. Choice of Entity & Taxes (Part I)
- When to use an S-Corp, C-Corp, LLC, Rollover Business Start Up (ROBS)
- When not to use each of the above
- Which companies are for holding, which for operating
- Detailed discussion of S-Corp upsides & downsides
- Detailed discussion of C-Corp upsides & downsides
- Detailed discussion of (game changing) ROBS
- LLCs (the default choice) shall be covered as well, mainly as to "why" they are the end result of the process of elimination
- Series LLCs - why & why not
- Done right, entities can save a lot in taxes. Done incorrectly, it has a cost investors & entrepreneurs millions
II. Choice of Entity & Taxes (Part II)
- "Part II" because this is a massive topic. And I want time to address the many questions that shall arise.
- FYI: The presentations are on non-consecutive weeks for my own personal tax purposes (e.g., when I'm in Puerto Rico)
III. ROBS
- Basics (what entities do & do not do, etc.)
- For example, entities generally protect you from the actions of others, but not from your own actions
- Charging Orders (we will spend some time on this very poorly understood topic)
- The Nevada/Utah crowd put out massive misinformation. For example, when a creditor places a charging order an LLC interest, they are NOT liable for the taxes on the LLC. We shall dig into what a charging order is, when it's useful (and it is), when it's not, and how much protection it actually provided. We'll also look at them from a credit's standpoint (e.g., how to draft a Charging Order that is ery hard for a debtor to "get around")
IV. Asset Protection & Fraud
- THE most neglected topic
- Most of the REI/Entrepreneur entities I've seen would be easily pierced (ignored, with personal liability for the human owners). That is because a number of tasks & habits are required to preserve the entity shield - and most of you do not engage in these tasks & habits. The nice people from Nevada & Utah usually fail miserably at this task - they are too busy marketing fear, along with overly complex & expensive "solutions"
- We shall cover a lot of stories in this regard (case law)
- It's a lot more than just "have annual meetings on a template that is the same every year"
- Why "Intercompany Loans" and "Due To/Due From" accounts are very dangerous for both taxes and asset protections. We'll discuss how to fix those and how to properly move money from Company A to Company B.
V. Piercing & Maintenance
- Similar to Choice of Entity & Taxes, this is an extensive topic that shall generate much discussion. Hence the two sessions devoted to it.
VI. Structuring
- When Overseas Makes Sense - and When Not. Which jurisdiction?
- Domestic Asset Protection Trusts - when "yes" and when "not so much"
- Nevada, Wyoming, Delaware, Home State?
- When holding companies make sense and when they do not - and why they should not ALSO be "Management Companies"
- When Management Companies Make Sense (and Not)
- One company to manage and pay bills for all of the others?
- Common with MDs and Dentists: A C-Corporation "Management Company" that "works" for the practice
- The classic "Holding" Structure - why it's classic and how to tweak it for your needs
- When the operating companies fit it
VII & VIII. Two Q&A Sessions
- Attendees submitted their questions and I answered. Think this doesn't apply to you? Think again! Likely you have a question that someone got the answer to during one of these sessions!