This episode is the second of a two part series.
Part One provides the concept and the basics of tax planning with Private Money.
This Part Two gets into sophisticated tax plans.
Private money is used today by business. Recently, small bussinesses Berkshire County in Western Massuchutes have taken the lead. Here is a PBS article on their success.
The tax savings are enormous and IRS approved.
For example, coupons and gift cards are in private money in bearer form. Disney money started in 1995.
In most cases, private money is redeemable in product or services and not in U.S. dollars.
Meanwhile, the IRS has announced when payment in U.S. dollars for your private money is not taxed.
For centuries, private money has been used in the UK and Europe. Now innovative tax planners' clients are creating private money to save taxes. Arizona allow private money backed by gold as legal tender.
Yes, I am talking about private money used for related party tax savings. Now, is the time for you to create and store your private money for tax planning in the future.
Why now? The Federal Reserve loose money policy effects the tax law on private money. Printing your private money, now, creates a powerful and unique tax saving asset.
It is one of the many tool that you are keeping in your tax planning tool box.
It is perfect for the small business owner just as it has been for Disney.
Well, this is enough in writing. To learn new tax planning ideas, listen in.
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