OVERVIEW:
Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy podcast speaks with Brett Swarts, founder of Capital Gains Tax Solutions and the host of the Capital Gains Tax Solutions Podcast. Brett talks about how he first learned about Deferred Sales Trust strategies and how they provide value, particularly for reducing taxes when selling real estate and businesses.
EPISODE HIGHLIGHTS:
- A Deferred Sales Trust is when you defer capital gains tax when selling real estate or a business. You sell your assets to the trust with an installment sale.
- Brett first learned about Deferred Sales Trusts from Marcus & Millichap, a commercial property company. It was his 'aha boom' moment.
- Certain types of real estate offer the best risk-adjusted rate of returns. They include multi-family housing, assisted living and mobile home parks.
- Depreciation allows you to offset income coming in.
- To provide an understanding of roles in the investment world, Brett shared this analogy. Think of a CPA as a GP (general practitioner) and a Deferred Sales Trust expert as a surgeon.
- Brett recommends selling high and buying low. The key is to be patient and disciplined when seeking these opportunities.
- A large wealth transfer is coming. Baby boomers are looking for exit plans using Deferred Sales Trusts to passively manage their money while allowing them to retire with peace.
- There are different kinds of trusts such as business trusts, standard trusts and living trusts. They allow you to pass your assets to your family.
- A Charitable Remainder Trust is tax-exempt. Beneficiaries receive their income and the remainder goes to charities.
- Brett's company is focused on managing Deferred Sales Trusts and turning them into an investment rather than an expense.
3 KEY POINTS:
- Cashflow can create passive income. Structure and systemize your business to become a passive (or semi-passive) income source.
- A wealth transfer from baby boomers to millennials is coming. Deferred Sales Trusts will allow baby boomers to turn their liabilities into investments while keeping a passive income.
- If you're looking for an exit plan, consider a trust and how it can help you convert your Deferred Sales Trust into an investment.
TWEETABLE QUOTES:
"We can make and break money, we can make and break businesses, we can go earn a high income but at the end of the day, we're all given the same denominator, which is time." - Brett Swarts
"Sell high and buy low." - Brett Swarts
RESOURCES MENTIONED:
Capital Gains Tax Solutions website: https://capitalgainstaxsolutions.com/
Brett Swarts on LinkedIn: https://www.linkedin.com/in/brett-swarts/
Capital Gains Tax Solutions LinkedIn: https://www.linkedin.com/company/capitalgainstaxsolutions/
Capital Gains Tax Solutions Podcast: https://capitalgainstaxsolutions.com/podcasts/
Capital Gains Tax Solutions YouTube: https://www.youtube.com/channel/UCAykQNmIWZ0KARBeVWcQxUA
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