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Search resuls for: "CLTs"


4 mentions found


☆ 9 ways rich real estate owners save big on taxes from putting mansions in trusts to donating rental property income
  + stars: | 2024-04-25 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +9 min
The richest 0.1% of Americans own $1.8 trillion in real estate, according to the Federal Reserve. Currently, individuals and married couples can gift or bequeath $13.61 million and $27.22 million, respectively, before a 40% federal estate tax kicks in. Here are nine little-known techniques that wealthy real estate owners use to pay less to Uncle Sam:Qualified personal residence trusts, better known as "QPRTs," effectively freeze the value of a real estate property for tax purposes. With an FLP, an individual — often a parent or two parents — pools their business assets, commonly real estate or stocks. The heirs don't own the trust assets, but rather have lifetime rights to the trust's income and real estate.
Persons: Uncle Sam, Trump, Sam Walton, Wrigley, Jeff Bezos, Rich, Ron Wyden, PPLI, Jackie O, I've, Edward Renn, remarries Organizations: Federal, Business, Walmart, Biden, Blackstone, Lombard, Taxpayers, IRS Locations: Trump, Florida, Wyoming, Plenty
☆ Rich parents want to give to charity and leave more money to their kids. Here's how billionaire families do it.
  + stars: | 2024-01-29 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +8 min
Read previewWhen the rich give to charity, they find a way to get the most bang for their buck. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.
Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, CLATs, Alice, Jim Walton, Rick T, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Walmart, Bank of America Private Bank Locations: Withersworldwide, CLTs, Fayetteville , Arkansas, Israel, Palestine
☆ How the superrich, like Walmart's Waltons, get richer by using trusts to give to charity and save on tax
  + stars: | 2024-01-23 | by ( Hayley Cuccinello | ) www.businessinsider.com   time to read: +7 min
If the calculations predict that the trust's remainder interest is zero, the beneficiaries are exempt from estate tax even if the assets actually appreciate by a greater amount. If the trust assets are invested and achieve an annual rate of return of 9% a year, the CLT's remainder will be $2.1 million. Advertisement"It's a fantastic low interest rate play," said Renn. "The problem now is rates have really risen and it's to the point where some investments clearly can outperform a 4% or 5% interest rate, but others might struggle." In this interest rate environment, charitable remainder trusts (CRTs) have better odds.
Persons: —, Jacqueline Kennedy Onassis, Walton, Lance Morgan, Ed Renn, I've, Renn, Dan Griffith, Griffith, CLTs, Onassis, Jennifer Galvagna, Michael Prinzo, they're Organizations: Service, Tax, Business, Bloomberg, Huntington Private Bank, Bank of America Private Bank Locations: Withersworldwide, CLTs, Israel, Palestine
☆ ‘This is a war’: Californians seek affordable housing alternatives
  + stars: | 2022-12-15 | by ( David Culver Nicole Barron | David Culver | Nicole Barron | ) edition.cnn.com   time to read: +8 min
But, across the country, affordable housing is becoming increasingly rare to find. That is until they discovered a Civil Rights era approach that helps promote home ownership, particularly among minority groups, who are disproportionately impacted by the affordable housing crisis. This year they joined the Beverly-Vermont CLT, one of at least five in Los Angeles and more than 200 nationwide. While CLTs are a solution, Ventura admits there are — and should be — other affordable housing options to adequately address the crisis. However, efforts to transform them into affordable housing in some neighborhoods have proven controversial among existing homeowners.
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