The CFO is almost correct.
Cutting the barrel to 14.5 inches makes it a cut barrel.
Installed on the rifle, it makes the rifle a prohibited firearm.
But the cut-to-14.5" barrel is just a barrel and is not, by itself, illegal.
"A gunsmith can only cut a shotgun barrel to do a repair ie the barrel got bent... its allot of hassel and easyier to make a new barrel.."
No.
Anyone - gunsmith, gunowner, cheerleader, Sunday school teacher can cut the barrel of a manually operated firearm to not less than 18", and the barrel of a semi auto to not less than 18.5" without breaking the law.
Anyone at all can cut any shotgun barrel to any length whatsoever - but if the cut-to-under-18" barrel is on a gun, the gun becomes a prohibited firearm.
No one can legally take a barrel that is on a gun and cut it to less than 18". Its no hassle at all. Its just plain illegal. Makes no difference if the barrel is damaged or bent.