As investors, I am sure most of us try to minimize our tax liability and increase our profits. I do a few quick rehab flips and thus pay a big chunk of it to taxes. Air Max Independence Red I wen to a seminar (I go to many and have never bought anything from them) from James Smith series and they had a harvard attorney there talking about a way to pay 0 capital gains taxes. He talked about forming a Charitable Remainder Trust (CRT) and buying properties through that. I received a negative response from my attorney about it on Monday and was told anything left in a CRT upon the death of two people (person and spouse) has to go to a charity, hence the Air Max Sequent Review
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are much more appropriate for someone your age.
Charitable Remainder Trust
Appreciated property is placed into the trust. It is sold tax free because charities dont pay tax. The proceeds are reinvested in income producing investments with the income being paid to the grantor (person who created the trust). That income is taxable unless tax free bonds are used.
To reiterate " investigate 1031 exchanges. They Air Max 95 Varsity Red
Does anyone know of any amendments to a CRT that would chage that fact? any workarounds that are legal? Has anyone used anything from James Smith series? Are they worth their salt?
What exactly are you hoping to achieve?
This is a common, yet sophisticated, estate planning technique.
Life insurance is frequently used to replace the assets being donated to charity. Life insurance is held in an irrevocable life insurance trust in order to avoid estate taxes on the death benefit.
The proceeds are distributed to the selected charity at the grantors death.
The grantor receives an income tax deduction for the gift to charity. That tax deduction is based on the life expectancy of the grantor (IRS has tables for this).
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To replace the assets the grantor will purchase a life insurance policy. The cost of the policy, if the grantor is in good health, is often much less than the amount of taxes saved. That is really meant to replace the assets to the heirs. That is why it is done as an estate planning technique. The person giving the seminar may have been a life insurance salesperson. Either you missed some of the details (like the fact that you need to die to make it work) or the speaker didnt communicate everything properly.
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