Justin Colby

You may not have any flips or wholesales going now. You may be in the middle of trying to get them to go. So again, the progression of where your business is at is always going to go. The thing that I think most people aren't aware of that I think you can help them with and just the understanding of the owner's tax bank account. Yeah.

You may not have any flips or wholesales going now. You may be in the middle of trying to get them to go. So again, the progression of where your business is at is always going to go. The thing that I think most people aren't aware of that I think you can help them with and just the understanding of the owner's tax bank account. Yeah.

I think a lot of people think just because they have an LLC and just because they might have an S corp that owns said LLC somewhere, somehow that money doesn't trickle down into their hands. Um, and they use their corporate credit card for everything and they pay off the, they pay off the credit card with the money that hits the LLC.

I think a lot of people think just because they have an LLC and just because they might have an S corp that owns said LLC somewhere, somehow that money doesn't trickle down into their hands. Um, and they use their corporate credit card for everything and they pay off the, they pay off the credit card with the money that hits the LLC.

And I think their mindset there is something I really want to touch on because many people I think do this and I know do this. Uh, and I was a victim of this in my younger entrepreneur life where I was like, Oh, I made a hundred grand and I spent a hundred grand all through the LLC. So Justin Colby doesn't get taxed. Well, yeah. Ladies and gentlemen, that is not the case.

And I think their mindset there is something I really want to touch on because many people I think do this and I know do this. Uh, and I was a victim of this in my younger entrepreneur life where I was like, Oh, I made a hundred grand and I spent a hundred grand all through the LLC. So Justin Colby doesn't get taxed. Well, yeah. Ladies and gentlemen, that is not the case.

That is all going to trickle down into actual income into me, even though for me, owning it with an S-corp does give me some tax savings. Because I own the waterfall owned by me, I will be taxed on all of that revenue. That is the importance of having this bank account that is owner's tax account. Now, speak a little bit to that because some people might have

That is all going to trickle down into actual income into me, even though for me, owning it with an S-corp does give me some tax savings. Because I own the waterfall owned by me, I will be taxed on all of that revenue. That is the importance of having this bank account that is owner's tax account. Now, speak a little bit to that because some people might have

different formats of how they own the company. They might have an LLC owned by a C Corp or an S Corp, or maybe they own it themselves. Probably not very likely, but talk a lot about that one because I think there's a lot of people out there that just feel as if, oh, dude, I don't pay my car payment. My company does. Brother, you're going to pay tax on the income that pays your car payment.

different formats of how they own the company. They might have an LLC owned by a C Corp or an S Corp, or maybe they own it themselves. Probably not very likely, but talk a lot about that one because I think there's a lot of people out there that just feel as if, oh, dude, I don't pay my car payment. My company does. Brother, you're going to pay tax on the income that pays your car payment.

I don't want you to forget that.

I don't want you to forget that.

Yeah, and there's no doubt. I was definitely in ahead there because I believe real estate is the only vertical. And that is my belief that you can make a whole lot of money. You can build a whole lot of wealth. You'll never be able to pay taxes again or have to pay tax again if you do it right. And you're protecting your downside. So what do I mean by that?

Yeah, and there's no doubt. I was definitely in ahead there because I believe real estate is the only vertical. And that is my belief that you can make a whole lot of money. You can build a whole lot of wealth. You'll never be able to pay taxes again or have to pay tax again if you do it right. And you're protecting your downside. So what do I mean by that?

I believe, and I know this to be true because I've had to do it. When times get tough, you have equity in these assets, right? You can lean on that equity to protect your downside. Right. And I've had to do the very same thing. And so there's no other vertical I'm aware of. Now, you can make a whole lot of money in crypto. You can make a whole lot of money in stock and forex trading. I get that.

I believe, and I know this to be true because I've had to do it. When times get tough, you have equity in these assets, right? You can lean on that equity to protect your downside. Right. And I've had to do the very same thing. And so there's no other vertical I'm aware of. Now, you can make a whole lot of money in crypto. You can make a whole lot of money in stock and forex trading. I get that.

But where's all the other categories, like not paying taxes? You're going to pay a lot of taxes with crypto. You're going to pay a lot of taxes with Forex and stock trading. You're going to pay taxes. Where's the opportunity to accumulate wealth? Well, you're probably making all the money in those categories and then putting it into real estate, okay? And then where can you protect your downside?

But where's all the other categories, like not paying taxes? You're going to pay a lot of taxes with crypto. You're going to pay a lot of taxes with Forex and stock trading. You're going to pay taxes. Where's the opportunity to accumulate wealth? Well, you're probably making all the money in those categories and then putting it into real estate, okay? And then where can you protect your downside?

Where can you say, hey, either I need a $500,000 right now, by the way, tax-free, another benefit. Right. Because I need to do whatever it may be, potentially even pay your tax bill, potentially even pay your tax bill. So what if you had 20 rentals, right? And I'll just say, hey, you have a $100,000 tax bill and you lean those 20 rentals, you get a HELOC, right?

Where can you say, hey, either I need a $500,000 right now, by the way, tax-free, another benefit. Right. Because I need to do whatever it may be, potentially even pay your tax bill, potentially even pay your tax bill. So what if you had 20 rentals, right? And I'll just say, hey, you have a $100,000 tax bill and you lean those 20 rentals, you get a HELOC, right?