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Real Estate Tax Shelters of the Rich


Here is a great article I found on The Christian Science Monitor of all places. The article discusses Three Unbelievable Real Estate Tax Shelters of the Rich, written by Qiana Chavia.

The three real estate tax shelters of the rich the author discuss are to Invest in Rural Land, Utilize 1031 Exchanges, and set up Dynasty Trusts.

Investing in rural land has always been a big thing. However, the author brings up quite a few points I was completely unaware of. Apparently, 49 of the 50 states has what is called “use-value assessment”. What this provides investors in terms of tax shelters is only being taxed on the land that is apparently being used. This is definitely something to look into and speak with a qualified tax professional about.

If you have bought and sold just one home in your life, you’re familiar with 1031 exchanges. It’s as simple as rolling over the money from one asset into another asset without having to pay capital gains. This one is a no-brainer and any experience real estate professional would advice you to do this.

Whether you call it a Dynasty Trust, a Legacy Trust, or just a Trust by itself, the purpose is the same. This one strategy is probably the biggest one on here and the most underutilized. Setting up a trust is a major piece of planning your estate that can create wealth for generations to come. You don’t have to be ultra wealthy to set one up, you just have to know it’s available and then willing to take action.

The single biggest benefit to having a trust is insulating the assets in the trust from estate taxes at the time of death. It also serves as a barrier to insulate assets it owns from the reach of outsiders. This is extremely important if anything ever happened in terms of a law suit.

You can read the whole article HERE. You can also read more about Dynasty Trusts by ready the link HERE.

Leave a comment and make you share the article with friends and family. It doesn’t matter how much money you start with, it’s a matter of knowing the tax shelter rules the rich use so you can use them too. These rules are not exclusive to the 1% percenters, it’s just that they know about them and you don’t. Take the time to learn the rules and you play the same game they do.

Thank you,

Mike Clark

6 Responses to “Real Estate Tax Shelters of the Rich”

  1. Mike – Great article. Thanks for sharing. Knew about the rural land and 1031 exchanges, but never really dove into trusts. Will have to do that.

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