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Ep. 18 | Capital Gains Tax Solutions: Deferred Sales Trusts with Brett Swarts
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In this episode, Brett Swarts discusses the deferred sales trust and how it is a legal tool that allows individuals to defer the taxes that would normally be due on the sale of an asset. As the owner of Capital Gains Tax Solutions, Brett explains that this can be helpful for businesses in cryptocurrency and primary home because it allows for separate ways for partners to separate without any debt re requirements replacement. He also notes that the deferred sales trust can be used for business sales as well as primary home sales.
[00:00 - 13:48] Opening Segment
- Introducing Brett to the show
- Brief background
- The deferred sales trust is a tax-advantaged way to sell an asset
- Each individual family in a married couple has their own deferred sales trust, and other investors can have their two
- The 1031 exchange must be approved by all partners, and each partner must agree to the move
[13:48 - 32:57] How to make Deferred Sales Trust an Investment
- A good option for people who want to defer capital gains taxes on a sale, and can be a good way to scale an investment
- A good way to preserve wealth, and can be a good option for people who want to defer capital gains taxes on a sale
- It costs around 1.5% of the gross sales price to set up and has a recurring fee
- The deferred sales trust can help save a failed 1031 exchange
[32:58 - 52:09] The Best Way to Avoid Fees When Exiting a Deal
- Delaware Statutory Trust
- How an LP can defer paying taxes on a sale of a property by using a deferred sales trust
- If the tax code were to change in a way that would make this type of trustless advantageous, it would likely be difficult for LPs to retroactively adjust their plans
- The government is proposing changes to the tax code that could increase taxes on assets such as real estate and cryptocurrency.
[52:10 - 52:51] Closing Segment
- See the links below to know more about Brett
- Final words
Quotes:
"Why not have something like the deferred sales trust in which you have no timing restrictions? So there's no 45,000 180. There's no debt requirement replacement. NTTS can go there. Separate ways. Partnerships can separate. It also works for businesses in cryptocurrency and primary home." - Brett Swarts
"So unless you tell me Joseph if I want to buy a boat in my house and I want to live off the money we can't do that. To be tax-deferred needs to be for business purposes or investment purposes." - Brett Swarts
Connect with Brett through LinkedIn, Facebook, Instagram, or visit www.capitalgainstaxsolutions.com and www.expertcresecrets.com.
Connect with Joseph on LinkedIn, Facebook, Twitter, and Instagram
Download resources and join our private investor group at www.engineeringpassiveincome.com
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