All Forum Posts by: Ali Samana

Thanks Richard, you made a very good point. I do donate a percentage of my earnings, but I certainly don't want to give away all of it.

I wanted to find out more because at the seminar the person made it seem like you could use a CRT to avoid taxes and yet not have to donate it all to charity. I was just wondering if there was any merit to that.

Thanks again for your help.

Hi Richard, thanks for a great response. I am looking to lower or eliminate my capital gains taxes.

Bill, I will contact you for more info.

Thanks,

-Ali

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. 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 name.

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?

Thanks in advance for any help on this.

Finding a mentor in any investment is one of the most important steps in investing. I have my mentors that I bounce ideas from before going into any deals or transactions.

However, a mentor that wants to charge is not really a mentor, you might consider him a consultant, but definately not a mentor. I would also ask where his allegiance (SP) was, to your success or to his 99/month? Most successfull people in any field are too busy to offer a service like this, but not too busy to help mentor the right person.