High Income Tax Planning and Asset Protection

Okay. I think we’ve covered a lot of the mistakes and I know you’re offering a book on the 10 Most Expensive Tax Mistakes That Cost Business Owners Thousands. That applies to you guys that are in the real estate business or all business owners. You’ve covered a lot of them.

Again, you’ve got the book Secrets Of A Tax Free Life on Amazon. We will have a link to the book on the show notes, guys, so that you can access that, The 10 Most Expensive Tax Mistakes… and what haven’t we talked about? We’ve gone over a lot stuff quickly.

Craig Cody: One thing we didn’t talk about which we talked in our pre-chat was captive insurance.

Rod Khleif: Oh, yeah, yeah, yeah. Captive insurance is something that if you’re really high net worth, there’s a couple of supplemental strategies that you could consider one of them is, have your own captive insurance company.

It’s expensive to setup. You absolutely wanna use groups that specialize in this stuff but it can be very, very advantageous. Correct?

Craig Cody: Yes. Then another thing is, for your real high net worth people, is basically, foreign retirement plans where the US has a treaty with them.

Rod Khleif: Wow.

Craig Cody: There’s ways to actually put your assets into these foreign retirement plan. The asset might be a piece of real estate in Florida. It’s titled into this retirement plan and then you go and sell it down the road, and it’s in the requirements plan so there’s no tax on it.

Rod Khleif: Wow.

Craig Cody: Then you buy another piece of property.

Rod Khleif: Interesting.

Craig Cody: Then there’s a huge benefits when you go pull money out.

Rod Khleif: No kidding. Yeah. I don’t know anything about that. That’s very, very cutting edge. That’s something I’ve never even heard of. That’s something I’m gonna explore. Very interesting. Foreign retirement plans. Do you have any idea what countries they’re with?

Craig Cody: Yeah. The one that we’ve dealt with is Malta.

Rod Khleif: Malta. No kidding. Oh, yeah. That’s kind of a tax haven. Interesting, very interesting.

Craig Cody: But the key is, there’s a treaty with the US that allows you to do it.

Rod Khleif: Right.

Craig Cody: That’s key.

Rod Khleif: I mean, it’s all legal. This is not grey. There’s no crossing the line. There’s no even fudging the line. This is absolutely legitimate. As long as you document and you work with somebody that knows what they’re doing.

Well, Craig, I really appreciate your valuable time today, sir. You’ve added a ton of value in a very short amount of time.

Get your free copy of my recent book the Ten Biggest Tax Mistakes That Cost Business Owners Thousands here.

Listen to the full podcast here.


Get your free copy of my recent book the Ten Biggest Tax Mistakes That Cost Business Owners Thousands here.

Listen to the full podcast here.

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