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the Leverage Series

Protect Your Wealth With PPLI: Using Private Placement Life Insurance To Build Generational Wealth

Best Amazon.com Seller

 5/5

I’m always being told that the advanced tax strategies that I present are too good to be true. I’m always being questioned as to why someone’s attorney or CPA doesn’t know. Well, I graduated third in my class in high school, and I never questioned why, for example, the person who graduated last in my class, graduated last.

Have you seen the article, “Amazon will pay $0 in taxes on $11,200,000,000 in profit for 2018”? It was a Yahoo Finance article written by Kristin Myers and published on February 16, 2019. I mean, did you really “see” it. Is it too good to be true that Amazon paid zero in tax on $11.2 billion in profit. Go ahead, let’s hear your excuses as to why this is possible in this case and not possible in other cases; or why it is not possible in your case.

There’s one tax code, and it’s color blind. It does not discriminate against gender. It does not conduct background checks. However, it is written by the rich for the rich. It does discriminate against certain types of incomes or certain types of behaviors. Many of its benefits are hidden. So, unless you are a person who is going to question, and dig, and search, and challenge to find out how it is being done, you are not going to know. Period.

PPLI is just one of the several instruments that can be used to elevate your wealth strategy to the next level. If you are a qualified purchaser, a person holding an investment portfolio with a value of $5 million or more, you owe it to yourself to read this book. If you don’t, you have no one to blame if you don’t save money on taxes or have mediocre asset protection that does not protect your wealth from lawsuits.

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The NGIDDTS Trust: Legal or Not?

 5/5

A NGIDDTS Trust is a non-grantor, irrevocable, discretionary, dual-track, spendthrift trust. A trust is a special type of arrangement where someone sets aside money or property to help someone else. Let's explain each attribute:

1. Non-Grantor means that the person who created the trust can't easily take back the money or property they put in it. Once it's in the trust, it's meant to help someone else, like a family member or loved one.

2. Irrevocable means that the trust document is permanent and can't be changed or canceled easily. Once the money or property is placed in the trust, it's intended to stay there and be used for the benefit of the person it's meant for.

3. Discretionary means the person in charge of the trust, called the trustee, has the power to make decisions about when and how to give out the money or property. They can use their judgment to determine what's best for the person the trust is designed to help.

4. Dual-track means that a choice can be made concerning how the trust is taxed and the choice can alternate from time-to-time or stay the same. It can alternate between simple and complex, which will determine the tax treatment of that income. Here are the key distinctions:

A. In a simple trust, the trust income must be distributed entirely to the beneficiaries each year. The trust doesn't have the option to accumulate income or retain it within the trust. This means that all income earned by the trust is taxable to the beneficiaries in the year it is earned.

B. In contrast, a complex trust has the flexibility to accumulate income within the trust or distribute it to the beneficiaries. The trustee has discretion regarding how much income is distributed each year, and they can choose to retain some income within the trust. This allows for more tax planning opportunities and the possibility of deferring tax liability by keeping income inside the trust.

5. Spendthrift: This attribute helps protect the money or property in the trust. It acts as a shield, making sure that others can't easily take the money away or waste it. This is particularly useful when the person the trust is for may not be good at managing money or if there are people who might try to take advantage of them. This book will discuss the NGIDDTS Trust in more detail and explain if Tax King Matt believes this type of trust is legally effective to defer tax or not.

Available in Amazon.com