In this episode, I sit down with Brian Boyd — tax attorney, real estate investor, and author — to break down what most accredited investors are missing when it comes to the intersection of law, tax strategy, and wealth building. Brian is a partner at Thompson Burton in Franklin, Tennessee, where roughly 90% of the firm's work is real estate-related, from syndications and 1031 exchanges to development and land use.
⸻
Episode Highlights
[0:00] – Opening clip: losing two duplexes to a COVID shutdown — and why you can't control everything
[2:08] – Brian's background: tax attorney, author, and real estate investor based in Franklin, Tennessee
[5:21] – His philosophy: minimizing tax leakage and reinvesting into income-producing assets
[6:47] – The real difference between your CPA and your attorney — and why strategy has to come before tax season
[11:35] – How accredited investors should think about entity structure before entering a 506 syndication or fund
[12:21] – The case for always having a liability shield — and why it creates flexibility to bring in partners later
[13:42] – When is the right time to meet with a tax attorney? The earlier the better
[14:34] – Walking through a real client example: building out a GP/LP structure from scratch
[16:15] – The education gap: helping investors understand how money actually flows in a syndication deal
[22:01] – Cross-border complexity: foreign investors, domestication issues, and prohibited ownership
[23:27] – Delaware vs. Wyoming entities: what actually matters (and what doesn't) for syndication deals
[24:03] – Investing through irrevocable trusts: how the tax treatment works for beneficiaries
[25:08] – Building the right wealth team: attorney, CPA, bookkeeper, insurance agent, and financial planner
[29:25] – Building a coin laundry to shelter income and create a new revenue stream
[34:02] – Brian's due diligence process: numbers first, operator experience second, tax efficiency third
[36:17] – State-level tax considerations: Tennessee franchise and excise tax, and how to navigate it in different markets
[43:34] – Replace Your Income: A Lawyer's Guide to Finding, Funding, and Managing Your Real Estate — what's inside
[45:10] – Where to find Brian and how to connect with the firm
⸻
5 Key Takeaways
- Your CPA looks backward — your attorney looks forward. Tax strategy has to happen before the year ends, not after.
- Never hold real estate or investment assets in your personal name. A liability shield also gives you flexibility to bring in partners and grow.
- Entity structure matters before you enter a deal — setting up the right LLC or fund structure from day one makes everything downstream cleaner.
- Stress test every deal you consider. Look at best case, worst case, IRR, cash-on-cash, and the local tax environment before committing capital.
- Multiple income streams are the path to freedom — Brian went from burnout at 50 Saturdays a year to a growing portfolio funded largely by tax savings reinvested into assets.
⸻
Links & Resources
- Thompson Burton – thompsonburton.com
- Connect with Brian Boyd: Instagram, TikTok, Facebook, YouTube – search Brian T Boyd or Brian Boyd Tax Lawyer
- Email Brian: [email protected]
- Replace Your Income: A Lawyer's Guide to Finding, Funding, and Managing Your Real Estate – available on Amazon and Barnes & Noble
- Mentioned Topics: Tax attorney vs. CPA roles, LLC vs. S-Corp for real estate, 506(b) and 506(c) syndications, 1031 exchanges, 721 uprights, DSTs, cost segregation, bonus depreciation, oil and gas leases, irrevocable trusts, infinite banking, real estate professional status
⸻
If this episode gave you clarity on the legal and tax side of building real estate wealth — or helped you think differently about how to structure your investments — make sure to follow, rate, review, and share the show. It helps us reach more accredited investors who are serious about growing the right way.