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The Business of Meetings

Dec 8, 2020

Today, we are very happy to have Noah Rosenfarb as our guest! Noah is a third-generation CPA, an investor and entrepreneur, and an incredibly knowledgeable advisor about everything related to finance! He has lived many different lives and is currently the Chief Investment Officer of his company, Freedom Family Office.

Noah focuses on helping entrepreneurs to keep more of what they make. He is joining us today to talk about finances and what to do as an entrepreneur in the meetings and events industry. If you’d like to know what to do with the money you’ve earned in your business, where to invest, what kind of revenue and passive income you need to focus on going forward or even selling your business, you will gain a lot from this podcast, so be sure to stay tuned!

Noah Rosenfarb’s bio

Growing up, Noah Rosenhfarb quickly learned that having money allowed more choices in one’s life, and he 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 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. 

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

Tax planning

In a year like 2020, when your income is down, you still need to plan for your taxes. Noah explains that there are several ways that you can make the best of a bad situation.

Noah’s journey

Noah’s dad was a practicing accountant, he married a woman whose father is a practicing accountant, and his grandfather was an accountant. So, dealing with money is in his DNA. 

Noah’s business

Noah’s business has morphed over time. He has always been passionate about making money, and he wanted to figure out how to control the destiny of the dollars he was creating. He realized that by focusing on taxes, he could achieve that and also get to keep more of the money he was earning. 


There are many ways in which entrepreneurs can allocate their money in ways that benefit society better than the government can. Noah works with smart, successful entrepreneurs who can recognize value when they see it.

Food business

When he was in college, Noah owned a pizzeria. He then grew a fraternity and sorority catering business that was serving 20,000 meals a semester. Owning a business while being a full-time student was a great learning experience for him.

Noah’s father’s CPA firm

Noah joined his father’s CPA firm and helped him to scale it. When his father decided to sell his business, Noah realized that he did not want to buy it because he preferred to have the kind of lifestyle where he could own a business and not have to show up at work every day. 

Noah Rosenfarb’s stepping stone

From a young age, Noah Rosenfarb knew that accounting would be a stepping stone to another opportunity. So, after helping his dad set his business up to sell it, Noah transitioned into the Freedom Family Office business. 

Exit planning

The best time to sell your business depends on what your goals are. Often, entrepreneurs fail to make the right decisions about when and how to sell. A Vestige study showed that 75% of 1,500 entrepreneur founders who sold their companies regretted doing that. It came down to the entrepreneurs not focusing on what they were going to do next. 

Noah Rosenfarb’s Exit

Noah Rosenfarb wrote a book called Exit after learning about the unfortunate consequences of entrepreneurs not planning. 


Noah tried marketing the opportunity for entrepreneurs to plan in advance of their sale. Unfortunately, that business failed.

Income ratio

Noah uses an income ratio to work out how much of your income you need to get up and work for and how much of it comes in without you having to do anything. He helps people set targets for each year, for what they want their income ratio to be. 

Switching to a passive income

People tend to think that in the future, they can switch from 100% active income to 100% passive income after selling their business, but that is not how it works.

Tax strategy 

Always invest in yourself and your business first. After that, another place to invest is in tax strategy. It won’t create a passive income, but it might help you to increase the percentage of your income that you can keep. 


Noah suggests investing in low-risk, low return insurance products. Owning a property is also a way to invest, so if your business owns the property that it occupies, it could help you to start building a type of passive income. You can also get a good return by investing in someone else’s company and then dedicating some time each month to helping them succeed.

Programs outside of the US

If you plan a meeting outside of the US, ask the bank about options to cover your client and yourself in case the currencies evolve and fluctuate. 

A lottery lifestyle

Make a list of what would change, the things you would start and stop doing, and the people you would spend either more or less time with if you won the lottery. You might then realize that you don’t have to win the lottery to get closer to that vision.

Review your business model

You can also get closer to your vision for the future by reviewing your business model and aligning it with your vision. 

Alternative opportunities when things are looking down

Look for alternative options and opportunities when things are looking down in your business. And have the courage to speak to a bankruptcy lawyer to find out what your options are and help you figure out if reorganizing your business will be your best option.


If your business is sustaining in hard times, and you are finding growth opportunities, start looking at your competitors. If any of them are wounded, you could step in, rescue the business, and get a part of the ownership.

Do what you can now

Do what you can right now to start preparing for the eventual future that you want to achieve. 

Noah Rosenfarb’s 23 overlooked tax strategies

Go to Noah Rosenfarb’s Linkedin profile to find his list of 23 overlooked tax strategies. One thing he recommends is getting a second opinion on your taxes at least once every three years.