Special Trusts: defer ALL passive income tax - reduce active income down to 12-18%

[Klemens]

In response to the direct question, I just want to show how the IRS itself interpreted its own codes and issued its publication with the Court’s determination...

[Klemens]

Earlier I posted the special trust and quoted the IRC 643, one of the member MarkNYC asked me for the explanation of those code to support the legality...

[Klemens]

Unfortunately you cannot prove that I am wrong in my strategy with fact, laws or tax codes. On the contrary, I have provided authoritative sources to...

[Klemens]

Hey, I backed up the strategy with the specific US Constitution and specific IRS Tax Codes. Are they not strong enough? I never said I am qualified in...

[Klemens]

I never presume to know how the courts will rule. I just learn the law and the tax codes and applied th. I did not write the law or the tax codes. They...

[Klemens]

It is really funny that most of you (most of those who posted above) all assumed that I am asking for your advice or help here. I am sorry to say that...

[Klemens]

Yes exactly! I just happen to be the contrarian in this forum and I stand behind what I posted and what I believe. I do not follow the herds here....

[Klemens]

What are valid concerns that need answers?

I have answered in details the what, how, and why the strategy works with my true intention of...

[Klemens]

I am not advising anyone here, nor promoting anything. Just informing.

James, I do no want to become a source for you to generate more ads...

[Klemens]

Funny comments... Again, people just don't know what they don't know and I accept that. No promotion from me. Period.

[Klemens]

James, why do you keep insisting that I committing tax fraud? I said before that I have nothing to hide from IRS and not evading tax. You did not scare...

[Klemens]

I appreciate the inputs. I spent my effort and time trying to introduce new strategy and to inform others on this forum. I have nothing to gain. Apparently...

[Klemens]

Wow, James, I did not know you stood to that low. It’s unfortunate that you have turned constructive discussion into a lower level. Do what you think...

[Klemens]

"There are a lot of wealthy individuals on this forum. All of them except you think this is a frivolous tax argument" - Another assumption!...

[Klemens]

"https://www.forbes.com/sites/jayadki...h=30e816351f45"

That's correct because that Complex trust is Grantor trust as stated in...

[Klemens]

I setup specially designed trust: non-grantor, irrevocable, complex, spendthrift, private contract trust. This trust gives complete asset protection (irrevocable,...

[Klemens]

How Life Insurance Agents are Compensated

There is a mindset that permeates the world of finance that the main reason permanent cash value...

[Klemens]

I invested in many projects with Western Wealth Capital via Buck. My initial investment was with Sun Wood apartments in 6-2018 of $100K. They sold the...

[Klemens]

If we cannot add more value to the community here for the readers, please end this discussion. I appreciate all your inputs. Thank you very much.

[Klemens]

Thank you jfoxcapcfp for your comment.
Let me say this and you can judge it yourself.

I posted the details of my plan so other can...

[Klemens]

I wonder if you two above would mind sharing your asset protection strategy that you paid to have it set up and what the cost was, so that we all can...

[Klemens]

Sorry that you just wasted your valuable time.
Thank you.

[Klemens]

You are right. Unfortunately I have not yet found case law regarding this strategy. I would be interested to find out if anyone knows any case law similar...

[Klemens]

Thank you so much Tim for the information.

[Klemens]

- If you have experience with the matter (asset protection), please share so we (or I) all can learn from.
- If you have more knowledge of the matter,...

[Klemens]

Another jump-in assumption from a professional! Amazing! As a doctor, should we gather all the data first before making such a diagnosis?
Have you...

[Klemens]

Here is what the lawyer who specializes in Asset Protection talks about California Specific Real Estate Asset Protection Strategies. Clint Coons from...

[Klemens]

I am sorry you feel that way, but it's just the way how the court/judge/law system works. It's always up to the judge's interpretation of the law.

[Klemens]

Sorry, when I said it’s legal I also implied that it’s legitimate to provide asset protection in this plan.

As the attorneys said, it...

[Klemens]

Funny that you asked what the attorneys say! As in medicine, if you ask 9 doctors you may get 10 different opinions. It may be worse with attorneys. ...

[Klemens]

You may be correct that I may ask the wrong crowd here. I just thought that there is always someone else here knows more about the subject than me....

[Klemens]

What do you mean by "independent?"

[Klemens]

It's very interesting to see some professionals as members of this forum just made many assumptions in judging other people.

If I am such...

[Klemens]

I welcome discussion and comments.

I believe the strategy is not unnecessary, and if it was worthless in California I would not have done...

[Klemens]

It’s not the malpractice that I am concerned. We live in the most litigious country. As a physician people will assume you are wealthy. You may just...

[Klemens]

Thank you everyone for your comments. I hope everyone has a good asset protection plan to protect your assets.

[Klemens]

WY LLC do not own the properties directly. They hold the beneficiary of the California Land Trusts that own the properties (regardless of the property...

[Klemens]

Asset Protection plan has a lot to do with state law. Unfortunately California where I live does not have lot of asset protection (as joint marital trust)...

[Klemens]

I am not just hiding my assets. They are protected in sound structures as the law allows. The structure I had is pretty simple, not complex at all. ...

[Klemens]

- Tax records: yes it will show I have the rental houses and all those investments in RE syndication, but they are owned by the WY LLCs, not me so the...

[Klemens]

I want to share the details of my Asset Protection Strategy. I welcome constructive comments.

- First of all, I live in California as it...

[Klemens]

Just a few thoughts: If your brokerage account gets larger because it earns the interest, then you will have to pay tax on it. If it gets larger because...

[Klemens]

For high income W-2 earner, there are essentially 3 ways that I know can help deduct your active income to save on tax: 1) RE professional status with...

[Klemens]

Hi Childay, my initial intention of posting my financial journey this year in this post (as appropriate topic) is to share different way to get financially...

[Klemens]

Most of the syndication investments in real estate multifamily apartment building, mobile home park, storage place, oil and gas, ATM machine, etc.. require...

[Klemens]

Thank you Jim and everyone else for your constructive comments.

I agree that WL has nothing to do with my tax rate. It was the conservation...

[Klemens]

I agree the commission is part of the expense as they deserve to get for their business as any other business, similar to we get paid when we provide...

[Klemens]

Hi Jacoavlu, all ins company are required to keep their assets enough to cover all death benefits. They then invest the premium in stable assets to earn...

[Klemens]

- Every year my earned income from my physician job after expense are saved in a safe place and growing uninterrupted compound tax-free interest in a...

[Klemens]

I believe over the years I have built a sound foundation financially. The results I got speak for itself. The foundation does not collapse in either up...

[Klemens]

I followed the recommendation of Buck Joffrey, the ENT surgeon who had a whole website, pod cast for physician in Wealth Formula Banking as you can search...

[Klemens]

hi Jacoavlu, thank you for your tip on posting personal information. I deleted that post with personal info.

[Klemens]

I agree with genuine due diligence. It’s like any other investment, we all need to know and trust the people we invest with or else we will lose.

[Klemens]

I did invested in CE last year. I invested $98K and got K-1 with deduction of $465K. I applied part of that total deduction to my total AGI (up to 50%...

[Klemens]

JBME:"First, getting a refund that large on an interest-free (to you) loan is terrible planning"
I agree. It's just that last year I...

[Klemens]

I put my Profit Share Plan with Vanguard Index SP500 as I have no other choice from the group. I don't want to invest my own money in the stock market...

[Klemens]

- Tax: In 5/2019, for 2018, I was able to get my Federal effective tax rate to 4.38% with $51K refund, and Califronia effective tax rate to 3.96% with...