[Lesson 46. CRT] Don’t Pay Federal/State Income Tax with This Trust!+Tax Saving by Donation CRT

Hello. I’m John Chung, an American lawyer/accountant.
I’ve explained tax planning by utilizing trust funds throughout recent videos. I’ve dealt with different levels of trust funds starting from the most basic and essential, such as the living trust, to high level trusts such as GRAT, Nevada, or Insurance trust. These high level trust funds are especially important when it comes to tax saving.
Previous videos regarding tax saving using trust funds were mainly about trust funds that are used to receive tax exemption for gift/estate tax. At most, they were used to deducting state tax, not federal.
However, today for the first time, we will discuss the use of high level trust funds to deduct both federal and state income tax. CRT is the abbreviation of Charitable Remainder Trust. Let’s find out about CRT.
The ones who would especially benefit from this would be those who are concerned about the accrual of income tax when disposing assets with increased value. Real estate, stocks, or shares that have risen in value over a long period of time can be included. Real estate in Korea is also included. It means you can get tax exemption when selling your property. There are people who are concerned about state tax as well. State tax is also deductible here. It’s very intriguing and interesting. They are legal methods, of course. Let’s begin right away.
✅ Tax Planning Video
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