You shouldn't have to choose between protecting your assets and minimizing your taxes.
Hey there! My name is Riley Neilson and I’m so glad you’re here!
I’m the founder of Flying ‘N’ and an investment manager in the real estate industry.
As an investment manager, I’ve noticed that some of my investors go to great lengths to protect their assets and pay ridiculous amounts in taxes.
Some of them also go to great lengths to reduce their taxes and have immense liability exposure because of how they set it up.
Both have confided in me about this frustrating situation. I personally didn’t have the skills to help them so I searched for firms that did and found two things:
- Firms skilled in either Law or Tax but claimed to be skilled in both.
- Firms that were skilled in both but charged six-figure retainers.
There had to be a better way so I gathered the best attorneys and CPAs I could find to give my clients the best of both worlds.
Hey there! My name is Riley Neilson and I’m so glad you’re here!
I’m the founder of Flying ‘N’ and an investment manager in the real estate industry.
As an investment manager, I’ve noticed that some of my investors go to great lengths to protect their assets and pay ridiculous amounts in taxes.
Some of them also go to great lengths to reduce their taxes and have immense liability exposure because of how they set it up.
Both have confided in me about this frustrating situation. I personally didn’t have the skills to help them so I searched for firms that did and found two things:
- Firms skilled in either Law or Tax but claimed to be skilled in both.
- Firms that were skilled in both but charged six-figure retainers.
There had to be a better way so I gathered the best attorneys and CPAs I could find to give my clients the best of both worlds.
Surprisingly, this has revealed unique ways to protect assets further and lower taxes even more which thrills my clients!
It also sheds light on how you are under attack, and when you find out how deep this goes you will be as upset as I was.
What was a side project is now my calling… and it’s something that’s happening right under our noses.
Allow me to explain.
The depth of the problem
It starts with incomplete information from your:
- Accountant, who tells you to put all your assets in an S-Corporation to reduce taxes, neglecting that S-corps are one of the worst entities for lawsuit protection.
- Attorney, who tells you to put your business or properties in an asset protection trust because it will place them beyond the reach of creditors and personal lawsuits, neglecting the fact that trusts are taxed at 37% if they make over just $13,000.
- Insurance agent, who tells you if you have a good policy, asset protection is irrelevant, not knowing how many exclusions insurance companies are packing into these “good” policies, leaving you exposed.
- Best friend, who tells you that if you just be a good person and do what’s right you won’t be sued to begin with. Unfortunately, this couldn’t be further from the truth.
But it goes deeper than that,
Each day bad things happen like car wrecks, wrongful deaths, malpractice, etc.
When this happens in a perfect world the insurance company would fully pay for damages. For reasons I will explain, this happens less and less today which results in the injured party hiring an attorney to help them get paid for damages.
This is normally a contingency attorney who splits the money the insurance company pays with the client and promises to get them more. This is abused by some attorneys who try to get paid more than what is reasonable out of greed, causing the losses of the insurance companies to go up artificially.
Insurance companies compensate for these losses by denying claims for ridiculous reasons, paying out less, and increasing rates.
One of the most used methods is stuffing policies with exclusions so they can deny more claims as suggested by the NAIC in their 2021 report.
This means if you are liable for an accident and your insurance doesn’t pay enough or denies the claim, these plaintiff attorneys we mentioned earlier could go after your personal assets.
This can result in you losing everything you have despite being a good person. Even if you have done nothing morally wrong. Even if you bought the best insurance you could find.
much deeper.
Some plaintiff attorneys will even have their clients get medical treatment on a lien basis from the medical provider, even if they have insurance.
Why?
Because providers that do this can charge what they consider to be their “non-discounted rate” which can be up to 10x more than they would have charged your insurance provider for the same treatment as shown by the FSU Law Review [Vol 47:827].
This artificially increases the “damages” of the case against you and your insurance in order to maximize what a predatory attorney can take in the name of getting the client better medical treatment than they could otherwise afford. Which is sometimes the case, but all too often is used as a tool by the greedy.
This will likely result in your insurance policy hitting its coverage limit prematurely. If then the attorney sees you have assets like a valuable business or rental property they may choose to go after them too to get paid even more.
If they do succeed in seizing your assets they’re often sold at rock-bottom prices in order to get the cash as fast as possible. This means that the sale proceeds will only cover damages for a fraction of what your assets were worth originally. So if there is a $300,000 judgment against you, and you have a $300,000 property, it might only be sold for $200,000, leaving another $100,000 for them to go after the next asset and the next…
In this scenario even if your insurance provider paid enough to cover the actual damages, it still wouldn’t be enough, leaving you with the bill to cover the rest.
People who have caught wind of this threat have hired attorneys to set up defenses for their assets and end up paying out the nose on their taxes because of how those defenses are set up.
The justice system is being weaponized and used to get paid instead being used to get justice.
When I learned this it was infuriating, and I knew I had to do something.
This is the impetus that compelled me to start Flying ‘N’.
Let's Stop The Cycle
The Flying 'N' Name
The flying 'N' or letter N with a mark on either side is a symbol that my family (pictured above) has used to brand cattle for decades.
It holds a special meaning for me and serves as a reminder of the Neilson way: honesty, hard work, family, service to others, and devotion to God.
Values that were cherished by my Great-Grandfather Otto Neilson (pictured left).
Values Flying 'N' has used to serve thousands of people.
The Flying 'N' Name
The flying 'N' or letter N with a mark on either side is a symbol that my family (pictured above) has used to brand cattle for decades.
It holds a special meaning for me and serves as a reminder of the Neilson way: honesty, hard work, family, service to others, and devotion to God.
Values that were cherished by my Great-Grandfather Otto Neilson (pictured below).
Values Flying 'N' has used to serve thousands of people.
- 480.470.6769
- info@flying-n.com
- PO BOX 696 Saint Johns, Arizona 85936
© 2023 by Flying ‘N’ LLC – All Rights Reserved