Real estate investors want to avoid unnecessary taxation, and while there are many clever ways to reduce your effective tax rate, it can be difficult to simultaneously achieve robust asset protection. That’s because accountants and attorneys each have knowledge gaps that prevent them from seeing the full picture, according to Riley Neilson, real estate investment manager and founder of Flying ‘N’ Group. His business brings together lawyers and CPAs to help his clients achieve the delicate balance between minimal taxation and maximum asset protection.
Liability lawsuits against businesses are increasing in number and severity year-over-year, with businesses now spending an average of $1.2 million each year to counter litigation. Mom-and-pop real estate businesses are not immune, even those that do everything by the book, work to reduce risks and never cause intentional harm.
BiggerPockets Daily