what are your thoughts using Anderson advisors?
Rental Property Investor · Rochester, NY · Member since 2018 · 5 posts · 1 vote
Advise:
Knowledge is your best defence. There are plenty of resources online including anderson youtube channel, few other sources are :
https://wcginc.com/kb/ and https://wcginc.com/fee-structu... -- They have fixed fee structure to compare with anderson advisors without any blatant selling tactics
https://www.kbkg.com/" class="redactor-autoparser-object">https://www.kbkg.com/
https://go.empiretaxusa.com/61...
If you attend any tax-wise or other 3 day events with anderson which costs $197 + travel expenses you will get enough knowledge on how they operate and you should be able to understand what LLC structure is beneficial, also they have a large collection of online videos with plentiful of information on youtube and tax tuesday webinars.
With enough knowledge you can make a educated decision on which approach you take.
My experience:
I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.
Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.
Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com who is local to you.
A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.
Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.
They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements. They claim only 2-3 percent of the companies are audited so the more clientele they have the percentage of audits will be less even if they make some calculated risks.
Few Deductions they highlight which you can get with proper planning and right CPA.
1) 119A - Revenue stream bifurcation
2) Augusta Loophole 280A - use primary residence for 14 days of business and pay you back without tax implications.
3) Paying your medical and children education fee using c-corp
4) offcourse the famous charitable llc - another program and package.
I have had Anderson now for 3 months. I am a total newbie in RE investing and Anderson has been nothing but great for me. It took a little bit for me to understand how to best utilize them team since there are a few different people on your team. There are "success coordinators" to answer your basic questions, and your attorney team and your senior advisor. You can log into their daily 5 hours of zoom calls to hear them answering a variety of questions as continual learning and ask private chat questions on your specific needs too. I've even been sitting in a bank struggling to get my LLC set and called my senior advisor attorney who called me back immediately to help out. I ask dozens of questions and feel like a nag most of the time, but they always reply and help.
The attorneys I have talked to are personable, easy to talk with in laymans terms and really help tailor to my needs.
I guess my bottom line as a newbie on Anderson Advisors is you get what you pay for IF you really utilize them for everything they offer. If you're looking for just a single LLC formation maybe not. But if you're willing to ask a lot, you'll get a lot. I view this as my business and I'm willing get everything I can out of my dollars spent. Just my newbie 2 cents.
I realize I am late to the party but I just watched an all day webinar by Anderson Advisors on Tax & Asset Protection last Saturday and found it very beneficial and informative that I was interested in signing up for their services. It is quite pricey. I did some research first to see if they are even legitimate and what their reviews are like. This is what I discovered if this helps anyone out who Googles about them and ends up on this Bigger Pockets forum thread.
On Reddit, there were several negative reviews like really bad ones of current clients who can't seem to exit from their services and who have spent and lost lots of money due to lag times, mistakes, etc. on the part of Anderson Advisors. Here is a link to it: https://www.reddit.com/r/RealEstate/comments/sz6udf/who_has_...
Also, I received an email to review them so I clicked on their Google Reviews and saw that they had 4.8 Stars. Interesting I thought, that they have that high of a rating. When I checked their reviews, I first started with the negatives ones and they were similar to the ones found on Reddit. Then I checked their positive reviews and discovered that the people who gave them 5 stars were rating them highly on the Tax & Asset Protection workshops. Not on their actual services! Hence, they sent me a link to give them a review on their workshop only, which I agree is excellent but I've decided I'm not going to sign up with them given what I've read on Reddit. I'm not suggesting anyone do the same. Just do your due diligence and research before you make any costly decisions.
Highly recommend you don’t join. I have been a titanium and platinum member for 2 years. It is a constant headache dealing with all these different department s and their advice is not consistent and quite often wrong. Check Better business bureau site for reviews and so many complaints. It is A total wast of money. The same service can be achieved from the good attorney or an accountancy firm.
Hi Stephanie,
I hope you are enjoying the holiday season. I was wondering if you are still with AA. I love the YouTube content they have, however, I read so many negative reviews about them. I wonder if things have changed over the past few years.
Thanks in advance for any insight you are able to provide.
Hi Stephanie,
I hope you are enjoying the holiday season. I was wondering if you are still with AA. I love the YouTube content they have, however, I read so many negative reviews about them. I wonder if things have changed over the past few years.
Thanks in advance for any insight you are able to provide.
Hi Stephanie,
I hope you are enjoying the holiday season. I was wondering if you are still with AA. I love the YouTube content they have, however, I read so many negative reviews about them. I wonder if things have changed over the past few years.
Thanks in advance for any insight you are able to provide.
Hi Nedim Tokman,
Sorry for the delay to answer. I have been out of the country and just seeing this today. Yes I am still with AA, and I am still very happy with all the services they provide me. I am happy to have their expertise to continue to count on.
Have a blessed week!
Stephanie
I gave Anderson a go and it has cost me tens of thousands of dollars. I joined up being sold that I'd get dialed in to decent accounting and CPA - but after enrolling in platinum, I found out that it wasn't really a feasible option. This led to last minute CPA sign up, which got me entangled in a bad actor in the middle of a practice sale - which cost me some $30-40k in accounting costs that would have otherwise been easily avoided. Not entirely Anderson fault, but definitely something for you to consider if your portfolio is big enough to have such a waterfall effect.
I had a great legal team through my land development attorneys in Northern Virginia, I should have just stuck it out instead of switch anything out and I'd easily have about $50-60k more in my pocket today.
I started the close out process a year ago, and evidently there is still work to do - requiring more time to figure out how to part ways. Keep that in mind too - there is no easy way out once you sign up.
I gave Anderson a go and it has cost me tens of thousands of dollars. I joined up being sold that I'd get dialed in to decent accounting and CPA - but after enrolling in platinum, I found out that it wasn't really a feasible option. This led to last minute CPA sign up, which got me entangled in a bad actor in the middle of a practice sale - which cost me some $30-40k in accounting costs that would have otherwise been easily avoided. Not entirely Anderson fault, but definitely something for you to consider if your portfolio is big enough to have such a waterfall effect.
I had a great legal team through my land development attorneys in Northern Virginia, I should have just stuck it out instead of switch anything out and I'd easily have about $50-60k more in my pocket today.
I started the close out process a year ago, and evidently there is still work to do - requiring more time to figure out how to part ways. Keep that in mind too - there is no easy way out once you sign up.
AWFUL CUSTOMER SERVICE- really, really bad. We signed up last year to have them do our trust. It's been a terrible process. The attorney we were assigned travels quite a bit, doing more seminars to sign up more customers...meanwhile, she and her team can't be bothered to even give the courtesy of a response to us about when Gwendolyn will be getting our documents reviewed and finalized. I'm requesting a partial refund and we're going somewhere else. I can't imagine what annual changes to our trust would look like.... waiting and waiting and waiting. It's shameful.
what is the cost to become a Platinum member?