Fintech
MasterTech Financial Elucidates & Incorporates Charitable Remainder Trust Planning into Financial Programs to Help Provide Tax Relief
Rancho Santa Fe, California–(Newsfile Corp. – December 22, 2022) – MasterTech Financial, a leading provider of financial planning and wealth management services expanded its strategy for divorcing the IRS from taxable events. This innovative strategy allows individuals to sell highly appreciated assets without incurring taxes on the sale, through the use of a Tax-Exempt Trust recognized by the IRS as a Charitable Remainder Trust (CRT).
Founder & President of MasterTech Financial, John A. House, ChFC, CEPA aims to help high-net-worth individuals and families take advantage of the tools buried in the tax code to help provide tax relief.
According to House, the IRS provides attorneys with trial documents to ensure proper drafting of a CRT. This trust allows individuals to sell highly appreciated assets, such as real estate, cattle, a business, or public security, without incurring taxes on the sale.
“By transferring the title of your property to a CRT before entering into a contractual agreement with a buyer, you can avoid federal taxes, depreciation recapture, and state income taxes,” said House. “The IRS actually rewards you with a tax deduction for the charitable gift that will be made to the charity of your choice upon the death of you and your spouse.”
In addition to the tax benefits, a CRT also allows for more lifetime income and establishes a family legacy for children to oversee charitable causes. “When you run the numbers, everyone usually smiles,” said House. “A 2 to 1-lifetime financial advantage will normally occur when comparing a CRT to a direct sale.”
MasterTech Financial is committed to providing its clients with the best financial strategies and advice. For more information on how to legally divorce the IRS and take advantage of a Charitable Remainder Trust.
Contact:
John House
info@mastertechfinancial.com.
John House is an Investment Advisor Representative and a Registered Representative of Woodbury Financial Services, Inc. Securities and investment advisory services offered through Woodbury Financial Services, Inc. (WFS), member FINRA/SIPC. WFS is separately owned and other entities and/or marketing names, products or services referenced here are independent of WFS.
Charitable Remainder Trusts (CRTs) are typically irrevocable. Taxes on capital gains may be deferred until the time that it is distributed out to the income beneficiary. Any income that you receive from your charitable trust could reduce the total contribution that you end up leaving to your charity. A donor’s ability to claim itemized deductions is subject to a variety of limitations depending on the donor’s specific tax situation. Gifts of appreciated property can involve complicated tax analysis and advanced planning. Advisor Group does not act as trust or custodian for CRTS and does not provide specific individualized legal or tax advice. Please consult a qualified legal or tax advisor where such advice is necessary or appropriate.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149025
