WiscoREIA Kenosha: Mastering Tax Planning!

Mastering Tax Planning: Protect Your Wealth and Your Deals!

In 2024, we're seeing a surge in IRS liens and garnishments, making effective tax planning more crucial than ever. The IRS is ramping up collections, and it's essential to navigate these waters with confidence. Here’s what Amy will cover:

1. Tax Planning, Not Paying: Focus on strategic tax planning to minimize your liabilities. 

2. Ensuring Proper Tax Structures: Ensure you have the right entities in place. 

3. Choose the Right Tax Preparers and Bookkeepers: Collaborate with experienced professionals who understand the intricacies of tax regulations. 

4. Common Deductions People Miss: Don’t leave money on the table! 

5. Dealing with Increased Collections: If you find yourself facing collection actions, know your rights.

6. What to Do If You Get a Notice from the IRS: Don’t panic! 

7. Handling IRS Liens and Garnishments: If an IRS lien or garnishment threatens your business deals, act quickly. 

The key to thriving in today’s tax landscape is knowledge and preparedness. Equip yourself with the right resources, and don’t face the IRS alone.

Speaker: Attorney Amy Farrow

Amy Farrow is an Attorney and real estate investor with over twenty-five years of experience.  She has represented business owners, banks, and real estate professionals in litigation and transactional matters.  Amy has also closed hundreds of real estate transactions, residential and commercial.   She has bought and flipped more properties than she can remember, the very first in 1999.

Amy is a graduate of the University of Wisconsin, both undergraduate and law school.  She began her practice of law at a small firm servicing Columbia, Sauk and Dane County.  After a few years of practice, Amy joined the Department of Justice.   She served as a Special Agent with the Federal Bureau of Investigation in Oklahoma City, OK.  After five years, Amy returned to Wisconsin and resumed the practice of law serving southeastern Wisconsin.

In her spare time, Amy loves to relax with her four children and two silly dogs.  She and her husband travel often and love to visit National Parks.  Amy also runs in obstacle and adventure races several times a year, such as the Tough Mudder and the Spartan races.   She is a commercial pilot and is currently looking to buy a plane for new adventures.   Amy also sits on the board of a nonprofit that focuses on raising money for breast cancer survivors and their families.

WiscoREIA’s Kenosha Meeting Always Meets on the 2nd Tuesday of the Month from 6:30 pm to 8:30 pm!

Host: Ray Thorsen and Ken Collins

Ray began his interest in real estate investing in 1999. His parents let him continue to live at home for free after he finished school, as long as he was saving his money. This allowed him to buy his first duplex, which he renovated, put tenants in, refinanced and bought another duplex. Today, that is called the “BRRRR” method. He continued to “House Hack” and “BRRRR” numerous times which led to experience in flipping houses, private lending, as well as, creative finance deals. 

He always loves talking about real estate sharing what he has learned to do and what not to do. He also enjoys making business connections and learning from others’ trials and triumphs.

Outside of real estate, he loves spending time with his family. He is an aspiring wood worker, welder, and tinkerer. He likes to play golf, ride motorcycles, and go for cruises in the convertible with his kid.

Ken's journey began in the field of social work and psychotherapy, where he dedicated a decade to helping others navigate their personal challenges. Seeking new horizons, he transitioned into the tech industry, joining Hewlett-Packard. Over the next 24 years, he evolved from a Computer Engineer to a Global Project Manager, culminating in his leadership of the Global Sales Lead program, which under his stewardship generated nearly $1 billion in sales each year.

In 2016, Ken pivoted to real estate investing, initially employing the BRRRR (Buy, Rehab, Rent, Refinance, Repeat) method. Upon retiring from corporate life, he focused on creative deal structuring, mastering techniques like Subject-To (Sub2), Lease/Options, and Land Trusts. His portfolio includes over 50 Real Estate  transactions in the last 8 years, ranging from mobile homes, single family and  multifamily properties, showcasing his versatility and expertise in the real estate market.

Ken credits much of his real estate knowledge and sharpened skills to his active participation in the many WiscoREIA Madison education programs. Through joining their Coaching Program, completing the Blueprint course, and engaging in numerous educational opportunities including hands-on property tours and weekend training events from a variety of speakers sponsored by the REIA, Ken has continuously expanded his expertise in real estate. 

Ken is renowned for his proficiency in lead generation and deal negotiation, leveraging a multitude of creative strategies to craft win-win scenarios in real estate. He now steps into his role as a coach for aspiring real estate investors, eager to share his knowledge and experience. He is always on the lookout for personal growth opportunities, being an active member of groups like Lifeonaire and the Generations of Wealth Mastermind group, which further fuel his passion for continuous learning and development. 

With a life that beautifully blends family, community, technology, and real estate, Ken Collins is not just a coach but a mentor who understands the art of building wealth through real estate while maintaining a life of balance and fulfillment.

Make sure to bring tons of business cards as you will be meeting with people that you want to get to know!

*** NEW Meeting Location:

Route 20 Bar & Grill

14001 Washington Ave

Sturtevant, WI 53177

Please enjoy food, drinks, and TIP YOUR SERVERS!

6:30 pm - 7:00 pm - Doors open early for Networking

7:00 pm - 8:00 pm - Speaker Presentation

You can stay after the meeting as well to network! Remember to bring your deals!

Members are always FREE! Your first meeting with WiscoREIA is FREE!

 After your first meeting, Non-Members are $30.00.

***Make sure to pre-register - We are now Cashless***