A SHORT DISCUSSION ON TAXATION
However, we do this because……….why? Because we simply do not know that there is a better way. That is not the fault of your CPA or your Tax Attorney. They just do not know. They are not even made aware. They are simply following the industry norm and what they were taught in school.
What is deferred? It means that you do not have to pay taxes on the asset today if you roll it over into another investment of like and kind asset / property. You will not have to pay taxes on that new entity until you sell it later on. Sure, you can always buy another like and kind property, but then you will simply be deferring that inevitable tax liability to a later time when you do sell and it. (This sounds very similar to a Qualified Retirement Plan, IRA, 401K, SEP, or SEPPP if you are in Canada etc. That is a totally separate issue that we will discuss later.) If you want to know just ask.
If you want to know more about how we can provide a significantly better strategy for your future liabilities. Reach out to us today. We will be happy to discuss your options.
What we do is NOT new. In fact, it has been in existence for more than 100+ years. It is complaint with the IRS and every other country that is a signatory to the Hague Trust Convention Agreement.
If you have questions about your particular jurisdiction write us.
Provide your complete contact information.
What jurisdiction you are inquiring about and we will respond promptly.
Be prepared to provide your most recent tax liability*.
*NOTE- This is NOT for individuals who file a 1040EZ. And it is NOT for most people who file a 1040, Schedule A etc.
You must be an Accredited, Sophisticated Investor as a minimum. HNW and UHNW entities are best suited and qualify for this service. Hence the requirement of your previous year tax liability.