How to PROTECT YOUR ASSETS – VIDEO

How To PROTECT YOUR ASSETS – TaxSavingsTools.com

Two asset protection power tools are Limited Partnerships (LPs), and Limited Liability Companies (LLCs).  I could go on for days about why we use them and the distinctions between them and about why you’d use one versus another but I’d like to make one point at the start.  Did you notice I did not mention “C” Corporations or “S” corporations for asset protection?  Some of you are holding real estate in an “S” Corps. and that can be a fatal mistake. “S” Corps and “C” Corps., while they do provide some asset protection do not provide nearly the protection that these other ones do.

There is a magic tool that comes along with LPs and LLCs and it’s called: “Charging Order”.  This is your new best friend.  Charging order is a legal concept that was developed and applies only to Limited Partnerships and Limited Liability Companies.  It does not apply to “S” Corps, “C” Corps, Sole Proprietorships, and Partnerships.  If your lawyer has not told you about Charging Order and the benefit of it and why you have to have one of these two entities somewhere in your asset protection structure, he/she has done you a terrific disservice.

Here is what a charging order does.  Number 1 it says: “You can not reach that asset”.  Imagine you have a million-dollar building sitting inside an LLC or LP.  Can the bad guy get at the million-dollar building?  No, he cannot.  But what it will do is open up the door for the bad guy to get at the profits.  Let’s pretend there is $100,000 in profits.  The bad guy can’t get at the building but at first glance it seems like he can get at the $100,000.  But we’re not going to stop there.  You see when we work together we’re going to set up more than one of these entities and one of them is going to be a management company.

If there’s $100,000 in your LLC that is subject to attachment and we have a management company over here that is going to manage, in a better way, our million-dollar building, do you think that management company should be allowed to charge a fee for that service?  Of course!  And how much do you think they will charge?  The answer:  about $100,000.  Now how much money is left for the bad guy to get?  ZERO!!

So far we have protected the million-dollar asset and shifted our profits to another company so that the bad guy cannot get it.  This is where the Charging Order steps in and introduces you to your new best friend and partner – the IRS.  Let’s say the bad guy gets $100,000 in income.  Do you think that income will be taxed?  Absolutely!  The bad guy is left standing with his hands in the air saying: “But Judge, these guys were working with Drew Miles!  I didn’t see a nickel of that income because they did this thing where they shifted the income out of the company!”  Guess what the IRS would say to that:  “TOO BAD.  You are going to pay tax on that money because we are going to impute the income to you!”

And now the bad guy is left in the position where he has to pay about $50,000 in tax on MONEY HE NEVER GOT.  How’s that for asset protection

TAX TIPS WITH DREW MILES

BULLET PROOF YOUR ASSETS – TaxSavingsTools.com

Entity structuring simply stated, is the most effective and powerful lawsuit deterrent and tax saving strategy ever developed. It’s the use of things like corporations, LLCs, business entities, and business structures to dramatically reduce your taxes and bullet proof your assets.

Let me tell you what I mean by tax savings. We’re not talking about saving you a couple of bucks. We’re talking about strategies that can help you save 40% – 70% on your taxes – 100% legally. Think about what you paid in taxes last year. If you double your income next year how much tax are you going to pay this coming year as a result? Double right? We’re talking about slashing that amount in half legally, morally, ethically, right out of the book. We’re going to teach you how to read out of a different book.

Bullet proof your assets means that you’ll be structured in such a way that the bad guys will be worse off if they sue you and win than if they had left you alone in the first place.

Have you been involved in a lawsuit yet? Did anyone win that lawsuit? In my opinion neither the defendant nor the plaintiff win the lawsuit because either you were the defendant and you were horribly wronged and have had to fight to defend what was rightfully yours in the first place, or you were the plaintiff and someone injured you and you have had to accept cash for an injury that you’ll probably have to live with for the rest of your life.

“The only way to win a lawsuit in my book is to avoid it all together.”

Visit http://www.TaxSavingsTools.com to get started!

BULLET PROOF YOUR ASSETS VIDEO

15 Minutes, 3 Strategies – $11,000 SAVINGS IN TAXES – VIDEO

“15 Minutes and Just 3 Strategies – We Saved Her Over $11,000 in Taxes”

How many of you would like to save $11,000 on your tax bill?  That’s with the blessing of your CPA and the IRS so that your CPA will understand it and could implement these strategies and YOU will get all the benefit of it.

You don’t have to be a tax expert to get this stuff.  One of the things that drove me into this business was that in 1988 when I was a young attorney and I was visiting a friend, I was walking through his great room and there was a TV on with an interview with Bill Gates.

The interviewer said something that caught my ear.  He said: “Mr. Gates, what is the single most important key to your success?”  You know what he said?

“The single most important key to my success has been a working knowledge of the tax code.”

Let’s learn how to get some of that tax money back for YOU.

Case study #1

Steph came to me she was making about $50,000 per year.  She had been in business for a number of years.  She was working with her family CPA so she had competent help.  She was paying FICA about $7,500, $4,500 Federal and State Taxes and on $50,000 in income she was paying “ONLY” $12,000 in taxes and for most people those are good results.

She told me that she really enjoyed what I had taught her and that she had learned a lot but when she told her CPA about the program he said:  “Steph you’ll never make your money back on the program, because you’re already taking every deduction that you are entitled to.”

So what do you think I said?  “Get him on the phone, let’s have a conference call.”  We spent 15 minutes on the phone and this is what happened…

I said “This is what I’d like to do.  I appreciate that you have her best interest at stake.  I also understand that you told her that she would never recoup the cost of the program.”
He said: “That’s right.”
“If I could demonstrate that she could recoup the cost of the program would that satisfy you?”
He said: “Yeah but you never will.”
I said to him: “If I can’t save her TEN TIMES HER INVESTMENT, I’ll refund her money.”

In 15 minutes I went over three strategies and those three strategies were geared to what her real expenses were and where she was burning through tax dollars unnecessarily.

I said to him: “Let’s take a look at that FICA, why is she paying so much social security”
And he said: “ well that’s because of this, this and this…”
I said: well how about if we were to do this – and restructure her so she wasn’t taking that income out of the business as salary or other highly taxed forms of compensation?”  I took 3 or 4 minutes and explained to him what I meant by all that and then asked him “are you with me?  And “can you do all that for her?”
He said: “well, yeah.”
I said: “Would you tell me about how much that would save her?”
He gave me a number and I wrote it down on a legal pad.

Then we went through the second strategy which had to do with books and education and seminars she had attended including mine and I said: “were you aware that under this section she can deduct those expenses and let the business pay for them?”
He said “no I was not.”
I had him calculate how much that would save her and I wrote that number down below the other one.

Third strategy had to do with health care.  She had pretty high health insurance.  She was a single mom so she had herself and her daughter to take care of.  I taught him under Sections 105 and 106 of the tax code how to deduct the entire cost of her health care – her deductibles her co-pays and even the things that the insurance would not cover…

15 minutes on the phone, 3 strategies we saved her over 11,000 dollars in taxes.  Would you like to save 11,000 on your taxes with the blessings of your CPA and the IRS?  You don’t have to be a tax expert to get this stuff and implement these strategies.

Visit http://www.TaxSavingsTools.com to get started.

Highly Recommended TAX SAVING SYSTEM

“About a year ago I got involved, one thing that was really unique about them is the “IRA Business System” which is a way to take your self-directed IRA funds and use them, with checkbook control, to run a business and grow your IRA in a tax-free environment very quickly.

What’s unique about this is that you can use that self-directed checkbook control IRA to invest in so many more things then usually you are able to do with your IRA including real estate, stocks, business, and all kinds of ventures, so it gives you a real advantage to create wealth more quickly than any other vehicle out there.  So I would highly recommend everybody to look into it and find out about it because it’s a really unique and powerful tool for people to create wealth as quickly as possible.”

Kurt Fabrick,
Boston, MA

How to Increase Your Tax Refund

How to Save Thousands in Taxes This Year

 

Last year the IRS reported an overpayment of taxes in the neighborhood of over 320 million dollars – that’s a lot of money.

Were you part of that?

Maybe – maybe not. The good news is that over the past decade our company has been able to help our clients save over 20 million dollars in excess taxes.

We help people create and manage their wealth. We do that in three ways:

1. We help people drastically reduce their taxes – we want you to pay the legal minimum in taxes each year
2. We help you create corporations or manage your existing corporations to limit your liability and keep your assets safe.
3. We help you create massive wealth inside your self-directed IRA. If you don’t have a self-directed IRA we’ll help you establish one.

Once you have your self-directed IRA in place we tie that to another corporation – we call this the IRA business system. What this does is give you checkbook control over your IRA. Now you can invest in businesses, your own business, you can buy and sell real estate inside your self-directed IRA. We have doctors that run their whole practice inside their IRA. What this does for you, is at the end of the year give you the opportunity to take excess funds and push that money all the way up, TAX FREE, inside your self-directed IRA to your retirement fund, so you can build huge wealth inside your self-directed IRA – TAX FREE.

We have a FREE report and some FREE audio which will go deeper into what we’ve talked about here. Get it now. http://www.TaxSavingsTools.com