James Bohan CFO

James Bohan CFO A CFO with both institutional and entrepreneurial experience.

At Stonehan we focus on providing white-glove tax, CPA, & financial services for sophisticated real estate investors, family offices, and private equity fund managers. Providing elite financial services for the real estate industry with a contrarian takes on taxes, finances and investing.

My wife holds real estate professional status in our house. I cannot. I have too many CPA hours.That is the whole system...
10/02/2026

My wife holds real estate professional status in our house. I cannot. I have too many CPA hours.

That is the whole system, and I run it on my own portfolio.

She manages our five properties in North Idaho. About 800 hours a year, nothing else. That clears the first gate for the household. Real estate is no longer passive by default.

Then we group the five properties as one activity. A 469-9 election. Between the two of us we clear 500 hours in the group. Now we are materially participating. Boom.

Here is the part that matters for anyone investing as an LP. Once the group is materially participated in, an LP interest I spend zero hours on can be grouped in with it. The 100K of bonus depreciation from that deal now offsets my income from the firm.

That is how I pay as little in taxes as legally possible. Documented, and designed before the year started.

It took me a few years to fully wrap my head around this. Repetition is key with complicated stuff.

White-glove oversight means more than tax preparation.It means strategic entity architecture, integrated fund administra...
09/30/2026

White-glove oversight means more than tax preparation.

It means strategic entity architecture, integrated fund administration, and proactive coordination before tax season ever begins.

Fund managers who invest in proper oversight early avoid last-minute stress, delayed K-1s, and investor frustration.

This is what separates reactive funds from disciplined ones.

Sophisticated investors don’t ask for hype.They expect clarity.Reporting quality is part of how funds earn trust and ref...
09/30/2026

Sophisticated investors don’t ask for hype.
They expect clarity.

Reporting quality is part of how funds earn trust and referrals.

09/28/2026

Stop letting the 1031 exchange calendar force you into bad real estate deals. ⏱️❌

The traditional 45-day identification clock is a trap. It forces investors to rush into overpriced replacement assets just to hide from a capital gains bill.

But as a 4th-generation developer and former Big 4 CPA, I look at the tax code as a blueprint for leverage, not a boundary. You don’t need a traditional 1031 intermediary to wash away your capital gains. You need a Lazy 1031 Exchange.

Here is how the elite multi-asset loop works under the hood:
1️⃣ The Gain: One of your passive syndications or portfolio assets goes full cycle and sells, generating a massive capital gain.
2️⃣ The Play: Instead of rushing a 1031, you deploy capital into a brand-new real estate asset or syndication before the calendar year ends.
3️⃣ The Catalyst: We run an aggressive, first-year Cost Segregation study on that new purchase to generate an outsized passive paper loss.
4️⃣ The Wash: Under IRS rules, your new passive paper loss completely swallows the capital gain from your old sale.

The tax bill drops to zero, and you completely skip the rigid 1031 timelines and fees.
Most box-checking accountants won’t bring this up because they act as historians because they don't know how to match multi-asset K-1 variables before the year closes.

Stop running your empire out of fear of the IRS clock.

📌 Save this Reel so you don't panic-buy your next asset under 1031 pressure.

Most deals don’t fall apart because of the numbers, they fall apart because of how decisions get made.On paper, everythi...
09/26/2026

Most deals don’t fall apart because of the numbers, they fall apart because of how decisions get made.

On paper, everything can look aligned. Returns make sense. Structure looks fine.

But over time, what actually matters is:
→ how decisions are made
→ how information flows
→ how incentives actually play out

That’s where most funds either compound… or quietly start to break.

Have you seen this happen in your own deals?

09/25/2026

The tax code isn’t a penalty book. It’s an outsourcing manual.

The U.S. government wants economic growth, but they can’t build housing or develop infrastructure themselves without breaking the system. So they outsource it to the private sector.

And they protect that arrangement through the real estate lobby, which is historically one of the single most powerful forces in Congress.

If you are a Fund Manager, Syndicator, or high-net-worth investor, you need to understand this fundamental truth: The government rewards developers and operators by making taxes optional.

Here is the exact reality of how the system is wired:
1️⃣ The Incentive Strategy: The government wants more real estate development, so they wipe out your tax exposure to force private capital into the market.
2️⃣ The Loophole Fallacy: These aren’t "tricks" or "loopholes." They are written, deliberate incentives designed to reward you for solving a civic housing problem.
3️⃣ The Ex*****on: When you buy or develop real estate, the IRS rewards you with massive asset classes of depreciation, shelters, and deferrals.

Most reactive, box-checking CPAs don’t understand this macro layout. They look backward as historians, logging your data after it’s too late to build a shield.

As a 4th-generation developer and former Big 4 CPA, I don't look at your portfolio through a rear-view mirror. We look at it through transaction architecture.

Stop bleeding your wealth to a reactive tax strategy. Let's align your portfolio with the rules of the system.

Structure is not paperwork. It is strategy.The decisions made at formation determine reporting clarity, investor confide...
09/23/2026

Structure is not paperwork. It is strategy.

The decisions made at formation determine reporting clarity, investor confidence, and how smoothly tax season unfolds.

When funds are structured intentionally, K-1 delivery becomes predictable, compliance pressure decreases, and investor conversations become easier.

The strongest funds are built correctly from Day One.

09/23/2026

This is how the ultra-wealthy play the real estate game to pay $0 in taxes.

Most retail investors think the only way to realize profits is to sell, pay the IRS their cut, and keep the change.

But as a 4th-generation developer and former Big 4 CPA, I look at the tax code through the lens of active transaction architecture. And the ultimate goal for an elite operator is simple: Infinite Tax Deferral.

Here is the exact 4-step loop we use to scale portfolios without writing a check to the government:
1️⃣ The Shield: You buy a property and use depreciation to completely shelter the rental income. You pocket the cash flow tax-free.
2️⃣ The Forced Equity: You execute a value-add plan to skyrocket the property's NOI and overall value.
3️⃣ The Tax-Free Pull: Instead of selling, you refinance the asset. You pull your initial capital and profits out of the property. The IRS cannot tax loan proceeds.
4️⃣ The Repeat: You deploy those tax-free cash proceeds into a brand-new property, unlocking a fresh layer of depreciation, and loop the cycle.

If you ever do need to sell, you drop the proceeds into a 1031 exchange to keep the IRS completely locked out of your wealth vehicle.

Stop letting a reactive, box-checking accountant treat your equity like an unalterable tax bill.

📌 Save this Reel so you can map out your next cash-out refinance strategy.

When the call goes well 📞🙂 Most people only see the highlight moments.They don’t see:• the planning• the structure• the ...
09/18/2026

When the call goes well 📞🙂 Most people only see the highlight moments.

They don’t see:
• the planning
• the structure
• the long conversations behind the scenes

Clarity feels good. Preparation feels better.

09/17/2026

Your CPA is trapping your W2 income because they are reading the wrong section of the tax code. ❌

They tell you that the only way to offset your high salary with real estate paper losses is to hit the elusive Real Estate Professional Status (REPS).

"You need to log 750 hours," they claim.

For a high-earning executive, surgeon, or fund manager, hitting 750 hours while running your main enterprise is a physical impossibility.

But as a 4th-generation developer and former Big 4 CPA, I don’t look at the tax code like an unalterable bill. I look at it as a map of incentives. And there is a massive legal loophole Wall Street historians completely overlook: The Short-Term Rental Loophole.

If an asset's average guest stay is 7 days or less, the IRS does not classify it as residential rental property. It’s a transient lodging business.

The 750-hour rule is completely wiped off the table.

Here is how the elite math works under the hood:
1️⃣ The 100-Hour Rule: Instead of 750 hours, you only need to "materially participate" in the operations of the Airbnb—which generally means putting in just over 100 hours.
2️⃣ The Year 1 Catalyst: You only need to hit this threshold heavily in the first year of acquisition to unlock the arbitrage.
3️⃣ The Cost Seg Combo: You deploy a first-year Cost Segregation study to accelerate the property’s component depreciation.
4️⃣ The W2 Offset: Because the IRS views this as an active business rather than passive real estate, those massive paper losses roll over and directly punch your W2 tax bill in the mouth.

You don't need a lifestyle change to save six figures in taxes. You need entity and asset architecture.

If your current CPA isn't proactively matching your high income with transient lodging overrides, you are overpaying a mandatory tribute to the government.

📌 Save this Reel so you don't lose the blueprint when underwriting your next asset.

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