Noah Rosenfarb is a 3rd generation CPA that helps high-net-worth entrepreneurs find legal ways to avoid taxes and increase cash flow, sell their companies successfully, manage their wealth, and create predictable passive income. He is a personal financial advisor for a dozen families with a net worth of over $20 million through his family office.

He has over 20 years of personal experience investing in real estate and has built a portfolio of 3,500+ apartment units and 500,000 sq ft of office buildings and retail shopping centers.

 

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On Measuring and Monitoring Financial Assets and Value in Life with Noah Rosenfarb

 

Brett:

I’m excited about our next guest, he’s had the great state of Florida. But from a young age, he learned the value of hard work and the choices that money can offer. He grew up with a single mother who was incredibly hardworking but still struggling to put food on the table. Living in an affluent New York suburb many of his friend’s mothers were full-time homemakers and their families often enjoyed luxurious, very expensive second homes and vacations. His father owned a CPA firm while he had his own ups and downs they are able to go out to dinner and order dessert and go bowling and do all the fun stuff that we so to have like to have for fulfilled life right? and so much more. He has an entire really extensive bio here but he’s a CPA and we’re gonna talk about tax deferral strategies and building wealth, moving passive income into a life fulfill please welcome the show with me. Noah Rosenfarb, CPA. How are you, sir?

Noah:

I’m awesome. Thanks for having me.

Brett:

Excellent. Excited to get to know you a little bit more. For our listeners who haven’t met you yet? Would you give us a little bit more about your background and your current focus? Sure.

Noah:

So I’m a third-generation CPA who talked about taxes at our dinner table. And I’ve always been passionate about taxes and entrepreneurship, and I run a family office for successful entrepreneurs. A lot of what we do is helping them defer avoid taxes. But really, we’re focused on being rich beyond money. So our clients have a balance of financial freedom, along with personal success, and also the ability to serve the higher purpose that they’re here for. And we focus on earning predictable income and creating an ideal life and building your legacy.

Brett:

Amazing, we’ll get dive into all those types of things. But in the meantime, I want to take one step back and maybe the time when you’re at the dinner table as a high schooler and you’re sitting there you’re learning from your, from your dad, and maybe even your grandfather at that point. And, and maybe they’re speaking life into you and some different beliefs and different things. And I believe we’ve all been given certain gifts in this life. And I’m curious, and these gifts are given to us to be a blessing to others. So I’m curious, what are those maybe one or two gifts you believe you were given? And how does that help how you help and bless people today.

Noah:

So I’ve got a really good brain. I’ve often told my son, he’s got a really good brain too, that you know, we’re not gifted with genetics for athletics, but having a good brain ends up being a really great gift for a much longer time than great genetics for athletics. So that’s been really helpful to me. But the way I’ve used my brain is really building relationships and finding high-performing successful entrepreneurs. And being someone they could go to with complex or challenging situations, and bring a holistic skill set to them to help them achieve their goals faster.

Brett:

Amazing, amazing, amazing. So a good brain and then building relationships to help high achieving entrepreneurs. Excellent. So let’s dive into the first secret for entrepreneurs to move into a passive income and a life fulfilled. What’s the number one secret no to doing that.

Noah:

I mean, I think it comes as a surprise to a lot of entrepreneurs, how influential taxes are to their financial plan. So if we double the penny every day for a month, we’d end up with $5.3 million, which kind of sounds unbelievable. But what’s more unbelievable is if we let the taxman come at the end of each day, and take 35% of our profit, we only end up with $50,000. And so what most entrepreneurs don’t really understand from the get-go is how important protecting themselves from taxation is to their ability to create long-term wealth.

Brett:

Yeah, I couldn’t agree more. Right. I think what they say taxes is the single biggest expense that many of us are going to be paying for financially speaking for our lives. And it’s a big challenge. So first understand that how big of a challenge that is or the problem it is or how much they’re spending. Is that a fair summary?

Noah:

Yeah, and paying attention to it and being willing to invest some time and attention to figure out how to avoid or reduce or minimize it.

Brett:

Excellent. What’s the biggest secret to helping entrepreneurs overcome the lack of paying attention to it?

Noah:

So we like to use multiple choice and fill in the blanks when we speak with our clients. So we have a series of assessments and questionnaires and when we educate entrepreneurs about their options and strategies, we always say when I was in school, I didn’t want to take an essay test, I wanted to take that multiple-choice test or the fill in the blank test. And so that’s what we do. We try and highlight for entrepreneurs, what’s available, and sometimes they’ll say, I like option A, and I like option B. But is there something in the middle, and they might not have been able to verbalize that if we ask them an open-ended question? But when they see what the options are on paper, they tend to make quick decisions about how to move forward.

Brett:

Excellent. So you just go back to the old school, like just LSAT, you’re sitting in 11th grade, and you got to take that state exam and just fill in the blanks, and multiple choice to help it, I guess, simplify and be very clear what their options are. Is that a fair summary?

Noah:

Yeah, terrific.

Brett:

That’s cool. I like that. What’s the next step two, so now they’ve identified it, right? And they see it, what’s the next way you help entrepreneurs to actually execute on this?

Noah:

I think the really important thing that I’ve learned is helping entrepreneurs get clear on their goals. Because when they know what they want, there’s no stopping them. What oftentimes, I’ve found in my own experience of interacting with entrepreneurs, especially around complex estate planning, complex tax planning, things that just don’t feel natural, too many entrepreneurs who have the benefit of a DD and ADHD, and they’ve always got that shiny object syndrome. That’s what’s helped create them to be as successful as they are, what prevents them from oftentimes is being focused on some of these technical issues that we in our business tend to really enjoy. And but if we get them clear on the goal they’re trying to achieve, then they’re motivated to work through some of the complexity to get to the other side.

Brett:

Excellent. Okay. So I’m helping them gain clarity or working through an exercise to get clarity on their goals, and then shine. How to get there, even with complex estate planning and complex tax planning. Is that a fair summary? Yeah. Cool. All right. Talk to us about freedom family office calm, and, and you know why you started it, and what the vision is moving forward.

Noah:

Yeah, so what really motivated me was my own need. So as my business interests got more complicated as my own life got more financially complex, I needed a team around to support me in my own growth. And I had owned a registered investment advisory firm for the last 15 years. So that’s always been a core business of ours is managing money. I’ve got a real estate portfolio of 4000 multifamily unit apartment buildings. And that has its own level of complexity. I’ve got a private debt fund. And I’ve been investing in real estate and private debt and stocks and bonds and life insurance and tax structures. And that complexity in my own life necessitated the need for a team beyond myself. And then my friends started asking me if I could show them what to do. And you know, lo and behold, a lot of people were totally uninformed about the opportunities that they could have for their own family to create more wealth and compound it more effectively. So that’s what we built we built a solution for typically entrepreneurs that are earning seven or eight figures. They typically have a net worth in excess of 10 million. Our sweet spot is really that 20 $200 million net worth entrepreneur and we’re coaching them and training them on how to keep more of what’s theirs.

Brett:

Amazing. By the way, to learn more about Noah Rosenfarb, CPA, multifamily owner, private debt fund, creator life insurance owning 4000 units, I absolutely love it. Noah, at Freedom Family Office it’s freedomfamilyoffice.com. So I was just in the great state of Florida. And it’s that’s where you’re located to, like best about Florida as far as taxes are concerned?

Noah:

Well, there’s no income tax and that’s one of the reasons I moved down here from New Jersey and left my friends and family and everything I ever knew along with my wife who was also born and raised in New Jersey. So we up up up and left when we had our second kid in part because we didn’t want to go through any more winters and then you know, the state income tax savings paid for all the trips back to see our friends and family plus a little bit more. But what I really love about the state of Florida is that the business climate is really supportive of entrepreneurs like myself, not just because they’re not charging us high taxes, but also there’s not as much regulation as there is in some other states. So I just find that Florida’s a great climate, not just for doing business, but for recruiting employees, for growing your business for investing capital. It’s got all the demographic trends that are kind of working their way in creating a tailwind, pushing us forward.

Brett:

Yeah, you seen the big influx of folks since COVID-19? I know a lot of people are going to Florida, are you sensing that and with real estate values? And what’s going on? Tell us about that?

Noah:

I mean, I see it in my neighborhood. So I’m in a neighborhood of all custom-built homes. And there’s maybe six or seven of them that were sitting around for a year, two years, three years. And they are all just sold the one down the street at three and a half million one down the street, two and a half million, and all the people that are buying them coming from New York and New Jersey and snapping up what I think were some overpriced houses. But they want to be here. And here they are.

Brett:

Awesome. Amazing. All right, you ready to geek out on some tax stuff, Noah?

Noah:

Love it. That’s my favorite.

Brett:

Okay, so we’re going to talk tax deferral now. And for the listeners who’ve listened, we’d love to be on guest and know before the show said, Hey, Brett, can I bring up some other alternatives? I’m like, yeah, we’re capital gains tax solutions with an S, right. We want to bring viable solutions to the table from experienced professionals, like Noah. So let’s first start with just kind of the macro thing of what’s going on bindings, proposed some changes federal from a 20, to about 40, potentially, of the increase, he’s also talking about, potentially limiting or eliminating the 1031 exchange based upon certain money income that you earn, potentially taking away or limiting the stepped-up basis. So let’s talk about just kind of the big challenge facing folks when it comes to capital gains tax, Noah. And then let’s dive into some solutions. Okay.

Noah:

Sure. Happy doing.

Brett:

So what does that biggest challenge you see, with ones, that’s what sticks out about those couple things I talked about with Biden’s new potential proposal?

 

On Measuring and Monitoring Financial Assets and Value in Life with Noah RosenfarbNoah:

So our work is predominantly with entrepreneurs. And the big thing on their mind is what if I want to sell my business? So right now, I would say that’s a reason people pick up the phone and call us very often is they’re thinking about selling their company. If you look over my shoulder, I wrote a book about that called Exit: Healthy, Wealthy and Wise. And entrepreneurs call because they’re thinking about hiring that investment banker, they’re not exactly sure what to do to get the process going, and how to move all the levers that they have to move. But one of the biggest concerns right now we were working on a handful of transactions size from about 10 million to a billion. So pretty wide range is, what if these tax rates change on me at the end of the year. And so not only are we using section 453 on some of the smaller transactions, but then on some of the larger transactions, we’re using more complex and sophisticated strategies for larger transactions, like offshore pension plans that are leveraging US tax treaties with foreign countries, we’re looking at some other ways to manipulate gift and estate tax rules to the advantage of our clients. And so not only are we trying to avoid the capital gains tax, but also the potential increase in estate tax rates and gift the gift and estate tax rates and reducing those exemptions. So the planning has to get done in advance. And I think that’s the biggest challenge for entrepreneurs is oftentimes, they really want to wait till the last minute, and that can often bite them in the bud.

Brett:

Yeah, absolutely. A lot on the table here. And, and for our listeners, as a reminder, right now, it’s 22 million married 12 million single for the exemptions on the estate tax. But anything above and beyond, it’s gonna hit the 40% debt tax, the right has nothing with capital gains tax, right? Or the stepped-up basis, right? it skips the entire state within six months of the passing of your estate. Guess what, your kids, your beneficiaries, if you have them, they’re going to have to pay that. And so that is a big, big challenge now in 2025, as it stands, and correct me if I’m wrong, no but set to expire, meaning to go back to the previous versions, which is about 12 million single, maybe 6 million. I’m sorry, only married 16 66 million single. But even I think Biden is talking about maybe even I feel like seven married and even like three and a half single. So like these are serious things, right? See its consequences, what your wealth, and if you’re not planning and not doing things to properly remove these from your taxable estate. That’s 40%. Any thoughts on that Noah?

Noah:

Yeah, so one of the things we’ve been doing a lot, especially for our clients that are based in high-income tax states, is we’ve shifted their assets from personal ownership into trusts where oftentimes I’m the trustee because I’m the trustee of the situs of the trust is Florida, there’s a No state capital gains tax when we sell assets, especially appreciated assets. So we’re looking at transfers where we could avoid state income tax. And then of course, if there are opportunities to avoid the federal tax, we’re looking at that as well. One of the strategies I used for my own family, maybe we could dive into it because it’s somewhat unique and interesting is I own multiple businesses in Puerto Rico, that benefit from their 4% corporate tax rate. And by ownership structure of them is such that the C Corp shares are held inside of a Roth 401k plan. So I don’t pay any dividend tax, and I never pay tax on any of that money ever again.

Brett:

That’s really interesting. So you have a C Corp. You have a business in Puerto Rico. And part of that you roll you’re through the Roth the shares, and so on the growth of that’s gonna be capital gains tax-free, and other things that the Roth provides. Is that a fair summary?

 

On Measuring and Monitoring Financial Assets and Value in Life with Noah Rosenfarb

On Measuring and Monitoring Financial Assets and Value in Life: “Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.” – Theodore Roosevelt

 

Noah:

Yeah, it’s pretty powerful. And we do this stateside, for some people that aren’t comfortable sourcing their income to Puerto Rico, you can do it this in the states as well, especially if you’re thinking about selling your business, you might want to set up a services company for your core business and see if you could shift income into this structure so that when you eventually sell your C Corp, there’s no capital gains tax on that sale.

Brett:

Got it? So the biggest question we get with a deferred sales trust is like the IRS in the audits in like personal your actual clients being audited with that particular strategy with the track record. And you know, the deferred sales trust, 25 years 1000s 1000s and 1000s of closes billions under management over a dozen no change ourselves, the PLR those kind of things are all no change audits. And so on these certain things, what is the proper way to due diligence? Noah? What how when that question comes up with Hey, what’s the track record? What the typical response for this kind of thing you’re talking about?

Noah:

So just had a case, the other night client invested $150,000, in a startup business, which ended up selling to another company, he got 750,000 in cash. So we made a 5x return on his investment there, plus $750,000 of cryptocurrency, in the acquiring company, that cryptocurrency is now worth $20 million, and he wants to sell it, and we were able to structure a plan for him to avoid 100% of their capital gains tax, and then compound that money tax-free for the rest of his life. And one of the questions we were talking through last night, it was if I asked my accountant, I think he’s just gonna say, I’ve never heard of this. So I don’t want to do it. And I don’t think that that’s a good answer. So I’m not even going to ask my accountant. You know. And I think sometimes with due diligence, especially on novel strategies that don’t have the same track record as the monetized installment sale, the entrepreneur has to think through, who do you want to get this advice from? And what’s their incentive to tell you? It’s a good idea because most often, accountants and lawyers have no incentive to tell someone This is a good idea. If it wasn’t their idea, and they’re not receiving any compensation. It’s much easier to just say, I’ve never heard of it doesn’t sound good, too good to be true, that there’s no tax code section that they’re necessarily going to reference to tell you why it’s no good, or why it doesn’t work. They just if it’s not their idea, it’s not a good idea.

Brett:

Yeah, Noah. And we faced the same thing with a deferred sales trust, right? where it’s like, what’s the incentive? Do they say? Yes. If they say yes, and it works, they don’t get paid in great high fives. If they say yes, and it doesn’t work, or it fails in court, or they come back. Now they’re like, on the hook. But they don’t not even in the position to say yes because they haven’t had a decline and do it. They haven’t done it themselves. So almost by default, they end up just say no, right? Now, if they actually come on the call and sign the NDA and go through it all nine out of 10. We found on our site, they end up saying, Oh, yes, this is great. And in fact, they start bringing us clients and then we just do more business, but oftentimes the entrepreneur or the business owner, it’s such an emotional sale. Like it’s such you know, $20 million with the cryptocurrency that was started with $500,000. Right? Like, it’s like, it’s so big, it’s happening, that it’s sometimes it’s hard to emotionally separate the tax strategy, from the actual sale and all of that wealth, and especially if it’s all happening in a short period of time, right. And this is this goes to the importance of planning, right? like to say is do your due diligence on the plan first before the sale right before you’re in the emotion of negotiating the sale and the buyers and the due diligence and you’re getting all that ready to go. Have your exit implement Play plays first, and then sell. Is that a fair summary? No. What do you think?

Noah:

I mean, I would say the other way to that I describe it to a client is Look, the taxes, it’s clear how much you could pay, you could either write the check, or you could decide you don’t want to write the check and use the strategy that we recommend. And there is always a risk that by whatever strategy you use, it may not be 100% defensible through a complete IRS audit. And as a result, the worst-case scenario is you’re going to pay the taxes that you would have paid plus the interest and perhaps a penalty. But in all probability, the worst-case scenario, the more likely worst-case scenario is not 100% plus, plus, plus, it’s some negotiated agreement. But you’ve had the use of that capital for however many years, which hopefully you’ve made good use of.

Brett:

Yeah, I know very well said I like that. Right? Yeah, you can, you lose, if you pay tax like to find winning, losing, like you lose, so you can just lose now and just pay the tax, or you can win and it works. And it’s different and you earn the interest and, and even so, even if they came back, they might charge you some interest on that, from what you should have paid, let’s just say. But perhaps you didn’t get out-earn that interest in the meantime. And then, of course, there’s like the two-year audit window that’s really strong, roughly two to three years. And after that, the odds of the audits are also going very low. That being said, you mentioned the monetize. So I’m curious now, is that your kind of your go-to? Is that the one you’re using for the crypto deal?

Noah:

No, we’re using it for a small portion of the crypto because the owner needs some cap access to the capital immediately for some real estate investing that he’s already midstream on. But the bulk of the asset transfer is going to go to a Malta pension plan where the US has a tax treaty. And it’s almost like a Roth IRA contribution where you don’t have to pay any taxes on the contribution to the Roth.

Brett:

Interesting. So back to the monetize there. So one of the challenges that seemed to come up, and I’m no expert on monetize, but this idea of what’s called constructive receipt, right? So what is your feedback on that let’s hit the 93 and a half percent of the funds go to the person’s hands, and that not being considered constructive receipt? And then the second part of that would be the, I believe there’s the current US-like appeals and back and forth, some pending stuff. So what is the status of that, and, and what, what’s, what’s your, what’s your outlook for how that might turn out?

Noah:

You know, I think there’s always IRS enforcement around any tax strategy that saves taxpayers money. So a great example might be conservation easements, which we often recommend to clients. And there’s a ton of smoke in that industry. And they’re auditing every single transaction. But I don’t believe that’s a reason not to do it, I believe each transaction has to be evaluated on its own merits. And the laws are clear. And if you’re willing to play by the law, then it’s not illegal. So the question is, just if the IRS doesn’t like it, and they want to challenge you, then you have to decide if you want to go through the whole process of the IRS audit and defending yourself. Or if you might be willing to just give them some money to make them go away, which I think to me, the IRS is a little bit like the mafia, and they’re gonna try and bully you until they get some cash out of you. And if you could give them some money and make them go away, you’re probably still far ahead of the game, even if you were right in the first place. Sometimes trying to show the IRS how right you are is a loser’s errand.

Brett:

Excellent. And then what about the pending litigation? Does that concern you at all? With things are you saying, you just see what the outcome is gonna be? Or what are your thoughts on that? 

Noah:

I think until the laws clear that this is something that doesn’t work, then it continues to work and the client should be aware of what’s pending and what’s ongoing. But just like Biden’s capital gains tax rate is a proposed 43.4%. You know, when we do the planning, we’re not showing clients that are going to be the tax rate that they’d pay at the end of 2021. Because it’s not legislated yet. And so I think oftentimes, there’s a wide gap between what’s being proposed and what’s being legislated. And I like to follow the rules that are in place rather than the rules that maybe somehow might change in the future.

Brett:

Got it. And then so what would you say no to and why, in other words, you probably get approached with a lot of stuff over the years, or even your parents and your grandfather did too. Right? This goes back to generations. What’s that the litmus to saying like no to something or I probably don’t want to step on that one. If that makes sense.

Noah:

I’d say, it’s the red face test. So you know, if I could describe it to somebody and not be embarrassed that they know it, this just doesn’t pass the smell test, then it’s not worth pursuing. But if there’s no tax code section that’s being violated clearly, well, then we’re in a great area, or it’s black and white, and it’s clear. So I think certainly the black and white stuff, that’s easy. Usually, we’d like to play in the gray. So in that gray area, it’s a matter of how do we make sure that we’re not going over a line, where there’s not a more realistic assessment that this would not pass muster. So if we think there’s a realistic probability that it would pass muster, well, then that means we should give it a go.

Brett:

Got it. And as far as the IRS audits for these deals, I know, one of the things that give me confidence with the deferred sales trust is, is the actual attorney, who’s actually doing the legal work, right? I call it doing the brain surgery or doing the operation. They’re the ones that will defend so the audit comes and has defended their actual clients and then have been approved no change audits. And then another one was a guy named David Young, he’s a former executive VP at PIMCO, and was there for 20 years of Bill Gross, a very prestigious place. You know, they looked at this thing, and the deferred sales for two year period, they had their legal team went through it all, and they get approached stuff all the time. And they did two-year due diligence. And not only did they say, but we also love it, we believe it’s legal, it works, we’re putting our name on it, and we will, we will manage the money for clients and stuff like that. So when you have these big names that are going through it. So I’m curious, what is it for? For the audits? Do you have a track record for some of the things that you’re looking at? Coz I know, that’s the one question I get all the time. And if I feel like I don’t have that, then it’s hard for me to get a lot of confidence at night, if that makes sense.

Noah:

So we tend to be on the cutting edge. And when you’re on the cutting edge, you usually don’t have that, the volume of case law behind you, because these haven’t been tested, because they’re new ideas. And usually, we’ll encourage our clients to get an independent third-party tax opinion and to rely on that tax opinion letter to show that the recommendations that we’re making have merits.

Brett:

Got it? And what percentage are actually getting that letter?

Noah:

Probably 90%, I would say in some cases, the clients say, I don’t need it. Not worth it to me, I don’t want to spend the money. But, a lot of our transactions are eight-figure transactions, and the tax opinion letter is a five-figure amount. So there’s no really no reason not to get it.

Brett:

Thanks for sharing that. All right. We’re out of the geek mode. So that’s it, folks. You got me and him geeking out here on tax in on the details there. But these are all the questions you should be asking myself or Noah or any other tax professional proponent of something that’s providing illegal tax advice, deferred sales trust, monetized installment sales, 1031 exchanges are tried and true, make sure you’re following the rules there, Delaware Statutory Trust, Charitable Remainder Trust, or anything else that might be talking about, you always want to seek third party independent legal advice for these things. But at a certain point, you didn’t make a decision, and then you’re going to use the strategy and go with the case law or go with what’s there. The IRS audit defense, I think, is also a nice one for the deferred sales trust where they provide no additional charge state or federal. So I’m curious about those demonetized, are they providing audit defense? I never really got a clear answer on that. Who, if the audit happens, is the client having to come out of pocket?

Noah:

The client pays. In the cases that I’m working on on the conservation easement side, oftentimes, there’s the audit defense insurance, although that’s going away because the insurance is costing more than the risk. So this year for 2021. A lot of the investments that clients are making in opportunities where there’s a conservation option, they’re not buying insurance if they elect to make that conservation easement. donation.

Brett:

Awesome. Well, we’re running out of time. So, are ready for the lightning round?

Noah:

Ready to go.

Brett:

All right, knowing what you know now if you go back to your 25-year-old self, what is the one Golden Nugget you make sure to tell yourself to do?

Noah:

Go big! There really isn’t the level of constraints that I thought was on the ability for me to grow a business while maintaining balance in my life.

 

On Measuring and Monitoring Financial Assets and Value in Life with Noah Rosenfarb

Brett:

Love it. What’s the one favorite book you’ve gifted or read in the past year.

Noah:

I tell you a recent one that I really loved was Jason Calacanis’, Angel. All about angel investing, which is not an area that I’m particularly heavily invested in. But it was just a great book about becoming influential in a target market.

 

 

Brett:

Awesome. Love that. What’s the number one leadership quote or theme that you strive to live by?

Noah:

The Golden Rule, do unto others as you want them to do unto you.

Brett:

Awesome. What are you curious about most right now?

Noah:

Second citizenship, then researching where to get my own second citizenship. So that’s high on my priority list.

Brett:

You’re in Florida, if there’s one reason to move to Puerto Rico, and establish full-time residency there what would it be?

Noah:

For me, it would be the community that’s established there, formerly US-based mainlanders that have immigrated there. It’s a great community of entrepreneurs. It’s a nice tight-knit community.

Brett:

Awesome, love it. Last question, and we’ll let you go. Through all the people you’ve helped, all the taxes you’ve helped tougher and wealthy help create for others. How do you stay centered in your values? And how do you stay encouraged to reach for new heights?

Noah:

In my own opinion is that I’ve never been much of a materialist. I mean, certainly, I enjoy nice things, and I have nice things. But I learned at a young age, my family business was really focused on the divorce sector. And that was where I was a testifying expert witness in divorce court. And I saw 1000 families get broken apart. And part of that disruption was not just the breaking of the family, but also the halving of their assets. And I realized I, I don’t need to have more money and an upset family because of success. You know, no success outside the home is worth a failure inside the home.

Brett:

Amazing. Noah Rosenfarb a CPA out of Florida. You can find them at freedomfamilyoffice.com. Thank you for being on the show, sharing so much wisdom geeking out with me in answering the tough questions that I was throwing at you going back and forth here. You’re a pro. And I want to encourage you to keep using that good brain that you have and building great relationships with others, and helping people create and preserve more wealth. Again, though one last time, where can people find you if they want to connect with you?

Noah:

LinkedIn is a great spot. I produce a lot of content on LinkedIn. If we’ve got a bunch of friends in common, you could connect with me on Facebook. But if I don’t know yet, it’s probably better to go over to LinkedIn. Join my mailing list. If you’re interested in investing in real estate with me, you could go to investwithourfamily.com and learn about how we generate infinite returns in real estate.

Brett:

Amazing. Thanks for being on the show and also want to thank our listeners for listening to the episode of the Capital Gains Tax Solutions Podcast. As always, we believe most high net worth individuals and those who help them they struggle with clarifying their capital gains tax deferral options, not having a clear plan is the enemy, and using a proven tax deferral strategies such as the deferred sales trust and or getting with Noah to find out maybe perhaps what he’s also offering is the best way for you to defer capital gains tax on the sale of cryptocurrency, primary homes, real estate businesses. Also, you can create and preserve more wealth, please go to capitalgainstaxsolutions.com. That’s capitalgainstaxsolutions.com to learn more about the Deferred Sales Trust and a few other options as well. We appreciate you listening to the show and hope to connect with you real soon. Thanks, everybody. Bye now.

 

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About Noah Rosenfarb, CPA

 

On Measuring and Monitoring Financial Assets and Value in Life with Noah RosenfarbFrom a young age, Noah learned the value of hard work and the choices that money can offer. He grew up with a single mother who was incredibly hardworking but still struggled to put food on the table. Living in an affluent New York suburb, many of his friend’s mothers were full-time homemakers and their families often enjoyed luxurious second homes and vacations. His father owned a CPA firm and, while he had his own ups and downs, they were able to go out to dinner and order dessert, or go bowling during the day and see a movie at night.

Noah quickly learned that having money allowed more choices in one’s life and he too wanted that freedom for himself one day. As a CPA, his father’s focus was on forensic accounting, which provided many stories of clients whose families often fought over money. It became clear to Noah that money couldn’t buy happiness or make people behave kindly to one another.

When he began his own career in forensic accounting, Noah specialized in helping families cope with divorce. He encountered entrepreneurs that ultimately prioritized their desire for success over the needs of their partners, resulting in divided wealth and lackluster portfolios. Noah went on to create the world’s first family office for divorced women, where he focused on the transition of being a financially stable spouse to a new reality of being solely responsible for investing, budgeting, taxes, and estate planning. His skill of translating complex issues into straightforward lessons became invaluable as his clients became more confident in their decision-making.

In pursuit of his own goals, Noah moved to South Florida in 2011. Utilizing his experience coaching entrepreneurs with selling their companies and seeing an overlap with the challenges faced by affluent divorced women, he wrote a book, launched a podcast, and became a thought leader in the area of exit planning. His family office evolved to concentrate more on entrepreneurial families, especially those planning an exit or succession.

Noah is a 3rd generation CPA, he minored in philosophy and has always approached life holistically. In his experience, money offers choices, but not happiness. In order to achieve freedom, he believes we need to develop healthy relationships with those around us. As a result, we focus on measuring and monitoring financial assets and also the value in life – including our health, spirituality, relationships, and the impact we make within our community.

Married for over 20 years, Noah is the proud father of two school-aged children and currently lives in Parkland, Florida.

 

 

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