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( To see the Video Version of today's conversation just CLICK HERE. ) Going Long Podcast SERIES HIGHLIGHT Episode 357 Precision Business Strategies to Develop Accurate Financial Insights In the conversation with today's guest, Larry D West III, you'll learn the following: [00:37 - 03:35] Show introduction with comments from Billy. [03:35 - 07:30] Guest introduction and first questions. [07:30 - 16:13] The backstory and decisions made that led Larry to this point in his journey. [16:13 - 23:56] Larry explains the reality of exactly how the amount of tax you pay can be reduced in conjunction with Real Asset investing , and how your passive income streams play into that. [23:56 - 30:37] Larry breaks down the aspects of passive losses and income generators in relation to your investments. [30:37 - 33:52] Broad questions you can ask in the workplace / by the water-cooler with colleagues, to help you work out if what they are saying is legit or just ‘talk'. [33:52 - 37:32] What a Fractional CFO does, and how they can help you as an investor. [37:32 - 40:48] Any differences and limitations with regards to each person in a partnership where one spouse is a Real Estate Professional and the other is not. Here's what Larry shared with us during today's conversation: Where in the world Larry is based currently: Frisco, Texas. The most positive thing to happen in the past 24 hours: Getting to spend some quality family time with his 2 boys just before bedtime while staying away from home at a hotel! Favourite European city: Paris, France. A mistake that Larry would like you to learn from so that you don't have to pay full price: Take a step back and spend some time to work out exactly who you really are, and then go forward with your life doing the things that really fit with that truth. Book Recommendation: The Growth Gears, by Art Saxby and Pete Hayes https://www.amazon.com/Growth-Gears-Market-Based-Framework-Business/dp/1599325896 Be sure to reach out and connect with Larry D West III by using the info below: Website: https://www.pb-strategies.com/ Personal LinkedIn: https://www.linkedin.com/in/larrydwestiii Personal Instagram: https://www.instagram.com/larrydwestiii/?hl=en Personal Facebook: https://www.facebook.com/larrydwestiii3 Company LinkedIn: https://www.linkedin.com/company/precision-business-strategies Company Instagram: https://www.instagram.com/pbstrategies/ Company Facebook: https://www.facebook.com/PrecisionBusinessStrategies To see the Video Version of today's conversation just CLICK HERE. How to leave a review for The Going Long Podcast: https://youtu.be/qfRqLVcf8UI Start taking action TODAY so that you can gain more Education and Control over your financial life. Be sure to connect with Billy! He's made it easy for you to do…Just go to any of these sites: Website: www.billykeels.com Youtube: billykeels Facebook: Billy Keels Fan Page Instagram: @billykeels Twitter: @billykeels LinkedIn: Billy Keels
Larry D. West III, founder of Precision Business Strategies. He helps real estate investors and business owners develop timely and accurate financial insights to make better business and tax decisions. Larry is the host of the Strategy Room podcast.Main Points:Tax planning is more than depreciation deduction REPS - real estate professional, how to audit profit yourself Short Term Rental LoopholeTax Efficient Exit StrategiesWhy your books are the key to affective tax and financial planningConnect with Larry D West III:larry@pb-strategies.com 4144609291https://www.facebook.com/larrydwestiii3/https://www.instagram.com/larrydwestiii/https://www.linkedin.com/in/larrydwestiii/https://www.tiktok.com/@larrydwestiiihttps://twitter.com/larrydwestiii
If you're a passive real estate investor, are you making the most of your tax benefits? We recently hosted Larry D. West, III for a webinar focused on making sure you can take full advantage of your investments. Larry is the Founder & Managing Partner of Precision Business Strategies, a nationally renowned business strategy and consulting firm. Their team of accounting, tax, and business strategists have a strong niche focus in real estate, delivering timely and accurate insights to help their clients make better, more profitable decisions. The session covered topics including how to use passive losses, how to qualify for real estate professional status, qualified deductible business expenses, and much more. If you're looking for the best tax strategies for your investments you won't want to miss this discussion. Contact Larry: Website: https://www.pb-strategies.com/ Email: Larry@pb-strategies.com Are you REady2Scale Your Multifamily Investments? Learn more about growing your wealth, strengthening your portfolio, and scaling to the next level and visit www.bluelake-capital.com. To connect with Jeannette & her team directly & find out how to invest alongside Blue Lake, email them at info@bluelake-capital.com or just complete our potential investor form at https://www.bluelake-capital.com/new-investor-form and they'll be in touch with you. If you'd like to be on our podcast or know someone who should, visit https://www.bluelake-capital.com/podcast and click the link to submit a guest. Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you looking to save money this year, invest for the future, and stay ahead of the IRS? In today's Flashback Friday Featured episode, tax strategist Larry D. West III discusses ways to save on taxes, specifically with regard to the tax code. We also dive deep into estate planning, trusts, and entity structures. Listen in and increase your tax efficiency now! Larry D. West III is a managing partner of Precision Business Strategies where he leverages 8+ years of experience in the public accounting sector to help business owners maximize profits, minimize taxes, and build personal wealth. His specialized knowledge comes from his niched experience working as a tax and business strategist across different industries and platforms. ________________________________ FREE Discovery call for The Microfamily Investing Accelerator https://calendly.com/noirvest/themicr... ________________________________ [00:01 - 02:05] Who is Larry D. West III? Helping clients with creative tax strategies [02:06 - 14:07] Tax Optimization Strategies Taking advantage of the Tax Code using a business Opportunities for deductions Strategically spending money Tax strategies for business owners with W-2s Consider your vehicle and mileage Your refund should come from a refundable tax credit Understand how to accurately and appropriately fill out tax forms You should be close to a breakeven Looking at what the government is incentivizing What drives the Tax Code? Contribute to a retirement account Which presents the most tax-efficient opportunity? Market real estate Cryptocurrency [14:07 - 29:42] Passing Down Property, Inheritance Tax, and Estate Tax Knowing the entity structure When you pass away, your heirs receive a step-up in basis What are lifetime exemptions? Planning ahead of time and shifting things in the estate You should be below the exemption The four basic parts of an estate plan Using an ILIT How to move things in and out of the trust [29:43 - 36:28] S-Corps vs C-Corps Explained Double taxation and C-Corps S-Corps are not necessarily tax-efficient for real estate Documentation is important [36:29 - 41:52] Closing Segment Do you want to build wealth for yourself and your family? You need THE LAUNCHPAD. Click here to learn more! https://noirvestholdings.hubspotpageb... The final 2 questions Larry on diversification: Don't spread yourself too thin Connect with Larry! Key Quotes “If you think about the value of our business, the value of our retirement accounts, the value of our life insurance, the value of our real estate that could easily reach that number pretty quickly.” - Larry D. West III “One of the things that you can do while you're still here, especially with these limits being so high, is that you can start to give things from yourself to your next generation. You can give your property to them and move it out from your estate. So that you can use that exemption while you're here, instead of losing it in the event that you pass away.” - Larry D. West III ____________________________________ Connect with Larry D. West lll! Visit pb-strategies.com and schedule a discovery call with his team. Follow them on: LinkedIn https://www.linkedin.com/company/prec... Facebook https://www.facebook.com/PrecisionBus... Instagram https://www.instagram.com/precisionbu... Let's get connected! You can find Nicole on LinkedIn https://www.linkedin.com/in/nicole-pe... Instagram https://www.instagram.com/nvestornikk... or Facebook https://www.facebook.com/nvestornikki or Visit her website https://noirvestholdings.com LEAVE A REVIEW & SHARE THE WEALTH by SHARING this EPISODE with someone who wants to learn the secret strategies of the wealthy and build an abundant life. You can listen to previous episodes of Share the Wealth Show here. https://podcasts.apple.com/us/podcast...
In this episode, we highlight a few clips from the LIVE masterclass session with Larry D. West III who discussed Common Tax Filing Misconceptions and MistakesEssentials to Managing Active and Passive IncomesStrategies to Increase Your Income and Decrease Your Taxes To learn about and join future LIVE Masterclass sessions, be sure to follow Rich Black Doc and subscribe to receive email notifications.About Our GuestLarry D. West III, founder of Precision Business Strategies, helps real estate investors and business owners develop timely and accurate financial insights to make better business decisions. Combining his deep technical expertise in tax and accounting strategy, with an uncanny ability to communicate even the most complex concepts into simple terms, Larry has established a history of consistently saving his clients' money every year.Through his 3nsight™ workshops and Tax Free Cash Flow webcast, Larry has taught thousands of individuals and small business owners how to properly structure their business, improve cashflow, reduce taxes, and save thousands of dollars.To connect with Larry:Email: larry@pb-strategies.comFB www.facebook.com/larrydwestiii3IG www.instagram.com/larrydwestiiiLinkedIn www.linkedin.com/larrydwestiiiTwitter www.twitter.com/larrydwestiii
Are you an Accredited Investor that's tired of getting crushed by paying so much in income tax? Find out how we're helping others like you keep Uncle Sam out of your pocket. Click the link HERE. ( To see the Video Version of today's conversation just CLICK HERE. ) Going Long Podcast Episode 248: Precision Business Strategies to Develop Accurate Financial Insights In the conversation with today's guest, Larry D West III, you'll learn the following: [00:37 - 03:35] Show introduction with comments from Billy. [03:35 - 07:30] Guest introduction and first questions. [07:30 - 16:13] The backstory and decisions made that led Larry to this point in his journey. [16:13 - 23:56] Larry explains the reality of exactly how the amount of tax you pay can be reduced in conjunction with Real Asset investing , and how your passive income streams play into that. [23:56 - 30:37] Larry breaks down the aspects of passive losses and income generators in relation to your investments. [30:37 - 33:52] Broad questions you can ask in the workplace / by the water-cooler with colleagues, to help you work out if what they are saying is legit or just ‘talk'. [33:52 - 37:32] What a Fractional CFO does, and how they can help you as an investor. [37:32 - 40:48] Any differences and limitations with regards to each person in a partnership where one spouse is a Real Estate Professional and the other is not. Here's what Larry shared with us during today's conversation: Where in the world Larry is based currently: Frisco, Texas. The most positive thing to happen in the past 24 hours: Getting to spend some quality family time with his 2 boys just before bedtime while staying away from home at a hotel! Favourite European city: Paris, France. A mistake that Larry would like you to learn from so that you don't have to pay full price: Take a step back and spend some time to work out exactly who you really are, and then go forward with your life doing the things that really fit with that truth. Book Recommendation: The Growth Gears, by Art Saxby and Pete Hayes https://www.amazon.com/Growth-Gears-Market-Based-Framework-Business/dp/1599325896 Be sure to reach out and connect with Larry D West III by using the info below: Website: https://www.pb-strategies.com/ Personal LinkedIn: https://www.linkedin.com/in/larrydwestiii Personal Instagram: https://www.instagram.com/larrydwestiii/?hl=en Personal Facebook: https://www.facebook.com/larrydwestiii3 Company LinkedIn: https://www.linkedin.com/company/precision-business-strategies Company Instagram: https://www.instagram.com/pbstrategies/ Company Facebook: https://www.facebook.com/PrecisionBusinessStrategies To see the Video Version of today's conversation just CLICK HERE. How to leave a review for The Going Long Podcast: https://youtu.be/qfRqLVcf8UI Start taking action TODAY so that you can gain more Education and Control over your financial life. Are you an Accredited Investor that's tired of getting crushed by paying so much in income tax? Find out how we're helping others like you keep Uncle Sam out of your pocket. Go to https://www.firstgencp.com/goinglong Be sure to connect with Billy! He's made it easy for you to do…Just go to any of these sites: Website: www.billykeels.com Youtube: billykeels Facebook: Billy Keels Fan Page Instagram: @billykeels Twitter: @billykeels LinkedIn: Billy Keels
There are some changes coming for how K1 losses, a highly favored tax strategy for the majority of passive investors, can be utilized beginning in 2023. Listen in to learn what these changes are, why they've come about, and most importantly, how you can position yourselves ahead of time to maximize your tax savings. Key Takeaway: Partnering passive income streams with passive income losses is highly important in growing your wealth and creating effective investment strategies. How to Contact Larry: Website: www.pb-strategies.com Are you REady2Scale Your Multifamily Investments? Learn more about growing your wealth, strengthening your portfolio, and scaling to the next level at www.bluelake-capital.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you looking to save money this year, invest for the future, and stay ahead of the IRS? In this episode of the Share the Wealth Show, tax strategist Larry D. West III discusses ways to save on taxes, specifically with regard to the tax code. We also dive deep into estate planning, trusts, and entity structures. Listen in and increase your tax efficiency now! Larry D. West III is a managing partner of Precision Business Strategies where he leverages 8+ years of experience in the public accounting sector to help business owners maximize profits, minimize taxes, and build personal wealth. His specialized knowledge comes from his niched experience working as a tax and business strategist across different industries and platforms. [00:01 - 02:05] Who is Larry D. West III? Helping clients with creative tax strategies [02:06 - 14:07] Tax Optimization Strategies Taking advantage of the Tax Code using a business Opportunities for deductions Strategically spending money Tax strategies for business owners with W-2s Consider your vehicle and mileage Your refund should come from a refundable tax credit Understand how to accurately and appropriately fill out tax forms You should be close to a breakeven Looking at what the government is incentivizing What drives the Tax Code? Contribute to a retirement account Which presents the most tax-efficient opportunity? Market real estate Cryptocurrency [14:07 - 29:42] Passing Down Property, Inheritance Tax, and Estate Tax Knowing the entity structure When you pass away, your heirs receive a step-up in basis What are lifetime exemptions? Planning ahead of time and shifting things in the estate You should be below the exemption The four basic parts of an estate plan Using an ILIT How to move things in and out of the trust [29:43 - 36:28] S Corps vs C Corps Explained Double taxation and C Corps S Corps are not necessarily tax-efficient for real estate Documentation is important [36:29 - 41:52] Closing Segment Do you want to build wealth for yourself and your family? You need THE LAUNCHPAD. Click here to learn more! The final 2 questions Larry on diversification: Don't spread yourself too thin Connect with Larry! Key Quotes “If you think about the value of our business, the value of our retirement accounts, the value of our life insurance, the value of our real estate that could easily reach that number pretty quickly.” - Larry D. West III“One of the things that you can do while you're still here, especially with these limits being so high, is that you can start to give things from yourself to your next generation. You can get your property to them and move it out from your estate. So that you can use that exemption while you're here, instead of losing it in the event that you pass away.” - Larry D. West III Connect with Larry D. West lll! Visit pb-strategies.com and schedule a discovery call with his team. Follow them on LinkedIn, Facebook, and Instagram. Let's get connected! You can find Nicole on LinkedIn, Instagram, or Facebook. Visit her website https://noirvestholdings.com Do you want to build wealth for yourself and your family? You need THE LAUNCHPAD. Click here to learn more! LEAVE A REVIEW & SHARE THE WEALTH by SHARING this EPISODE with someone who wants to learn the secret strategies of the wealthy and build an abundant life. You can listen to previous episodes of Share the Wealth Show here.
"Do it. Don't hesitate. Just jump into it." - Larry D. West III The finer details of this episode :What is Clubhouse? How Larry D. West III used this platform and created opportunities for his businessHow to get startedHow Clubhouse can help you add value as a thought leader for your audienceEpisode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - cpa@summitcpa.net Precision Business Strategies website - www.pb-strategies.com
Larry D. West III is a managing partner of Precision Business Strategies where he leverages 8+ years of experience in the public accounting sector to help business owners maximize profits, minimize taxes, and build personal wealth. His specialized knowledge comes from his niched experience working as a tax and business strategist across different industries and platforms. He strongly believes that the foundational understanding of entity structure, financial metrics, and tax strategy are critical to any organization's success. Together with the Precision Business Strategies team, Larry focuses on providing advanced creative strategies. [00:01 – 09:08] Opening Segment I introduce our guest, Larry D. West III Connect with Larry through the links below Larry shares how he got into the space Meet with your tax and financial strategists Dynamic, on-going, strategic planning [09:09 – 36:50] Larry sheds light on these matters What is Passive Income? Reinvesting Capitals for future deals What is the best strategy for reinvesting? The Alternatives What is Deferred Sales Trust? The thing called depreciation reduction Tax Calculations and Capital Gains Should I have an entity formed as an Active Investor? LLC matters Inheritance for children [36:51 - 40:34] Closing Segment Connect with Larry through the links below Final words Tweetable Quotes: “Don't leave; continue to reinvest and grow that portfolio.” - Larry D. West III "If you look at Real Estate, that's Passive Income because that's tax efficient.” - Larry D. West III Find out more and connect with Larry through email larry@pb-strategies.com You can also connect with him through his LinkedIn, Instagram, Facebook, and his website https://www.pb-strategies.com/ LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode. I believe that you only need a small axe to build a lasting empire. Let's start building yours! To know more about me and all the real estate opportunities you can find, you can connect with me on LinkedIn, Instagram, and Facebook or check out my website https://smallaxecommunities.com/ and book a call with me.
LIVE ON CLUBHOUSE!!!I host the PROPERTY CHAMPS club on Clubhouse where me and a host of Clubhouse family members lead power hours designed to bring to you top professionals who support real estate business owners and entrepreneurs. Whether you are new to real estate or experienced in the industry this is for you!My special guest is Larry D. West, III of Dallas, TX! Larry is a tax strategist with a keen focus on supporting small business owners and real estate professionals. He answers questions from a room full! Major
Welcome to another episode. Today, we have a special guest and a good friend of ours Larry D. West the third with his new endeavor West Learning Innovations. Larry is a business tax consultant by day and Entrepreneur/Millennial Expert, Father of two, Husband, Author and absolutely wrong on the “LeBron vs. Jordan - GOAT” debate. Connect West Learning Innovations West Learning Innovations Website West Learning Innovations on Facebook West Learning Innovations on Instagram ______________________________________________ What do you think about this episode? We'd love to hear from you! Share us your suggestions, comments or questions. And we'd love to include that on our next show. Connect with us: Our Company Website BitBranding on Facebook BitBranding on Instagram Hope y'all enjoyed this episode! We'll see you guys next week for another episode of The Marketing Natives!