Part 2: One Thing To Focus On For Your Bitcoin Deferred Sales Trust Transaction
Hi, I’m Brett Swarts, founder of Capital Gains Tax Solutions. The number one thing to focus on in your Bitcoin Deferred Sales Trust transaction part two, and it’s getting to know your Deferred Sales Trust team. Now, if you haven’t seen Part 1 yet, I encourage you to go back, we talked about the number one thing you should be focusing on when selling any cryptocurrency, and you’re going to consider using the Deferred Sales Trust, and particularly talked about the motivation and the strategy behind that. Make sure you go back to Part 1 before you get to Part 2. But Part 2 is right now, and it’s all about getting to know your Deferred Sales Trust team. Who is the team? Who are these people that all of a sudden you’re selling very highly appreciated assets, and you’re looking at what’s going to be happening afterwards. But as well as who are the people behind this, and there’s really just a couple roles that are associated with this, and I like to use the analogy of the Roman Legions. The warriors, were they had, like the shields, and the remember those shields that are circular, and they had a little carve-out for the spear, and everything, all the shoulders, we get together, they put it up, and then they have the spirit that comes out, but they all come together. They’re more powerful when they’re all together, and that’s really the strategy here. That the Deferred Sales Trust Team is typically an extension of your current team, but also some brand new team members to help you go conquer this new battle.
Most folks before they find us they already have a team of either a Luxury Realtor or a high end, a nice CPA, a really good CPA, a financial advisor, they may even have a tax attorney. But those specialties don’t necessarily correlate to the Deferred Sales Trust team, we’d like to say we’re going to complement your team, there’s going to be a couple of people they’re going to be added on the first one is the Deferred Sales Trustee, and that’s me. That’s here at Capital Gains Tax Solutions, we’re one of just a few exclusive Deferred Sales Trustees to help you close your Deferred Sales Trust transaction and provide the ongoing trustee management of the trust, and that’s our role. By the way, we can’t be related to you, we couldn’t have previously worked for you or a cousin or a relative or a close friend, it has to be the truly third party they called Arm’s Length away from you in order to keep the integrity of the transaction, which is very, very important. It’s not unlike an IRA that you might have funds at or a 401K or even if you worked with a 1031 Qualified Intermediary, and that you don’t own those companies that are third party unrelated so that the funds are not in too much of your control, which can make it a taxable event. That’s kind of one of the first parts of the new part of your Deferred Sales Trust Team. The second part is the Deferred Sales Tax Attorney. I like to call those folks the brain surgeons, and those are my business partners who helped to form the trust, do all the legal work, but most importantly, they face the IRS in the past and with audits for their clients and have had no change audits.
They actually formed the trust to provide the legal work behind that they provide a life lifetime audit defense should state or federal IRS come knocking and you have in the trust has that kind of that I call the sleep well at night. Behind you having that support for that audit, and so that is that team they also with your CPA for some general tax questions about how to report it properly on your personal tax return, as well as answer any particular legal questions that might arise on the transaction, which we do invite you to bring in your CPA, should they have questions, and we want to make sure you feel really comfortable. That’s also part of why we have no-cost due diligence for you and your Deferred Sales Trust Transactions. If you don’t use it, you don’t pay anything. That’s what myself that’s what the DST Tax Attorney is. The last party typically is the Financial Advisor. The Financial Advisor and the Trustee and the Tax Attorney. We’re all three separate parties, but we all want to work. We all work together as a team to help execute this. We’re three separate entities that do separate apart businesses necessarily to make this work. They provide the investing policy or investment advice as it pertains to all things, Stocks Bonds, Mutual Funds, and Retirement Planning, and Financial Planning. The goal here is to create kind of an Executive Team or a Dream Team to help you execute on your next phase of your investments or your financial plan, and so those are the three main new parties to your Deferred Sales Trust.
I want to encourage you to get to know us by scheduling a no-cost consultation if the sale of your asset is a $1 million net proceeds and 1 million dollar gain by going to CapitalGainsTaxSolutions.com. If you’re not quite there yet or you’re not quite ready for the one on one consultation, you can also join our Free Mastermind. A Free Mastermind happens every Friday at 10 am Pacific Standard Time, 1 pm Eastern. That’s all things like Deferred Sales Trust University, where we have clients on we have Strategic Partners, we have Financial Advisors, we have folks just like you mostly who are learning about it for the first time and they don’t want to feel so alone. They want to want to feel like there are other people that are learning about it with them, and they have a chance to digest this slowly because it can be very, very overwhelming if you have a tight timeframe to close and you’re wanting to execute on this Deferred Sales Trust to defer the tax you can go to CapitalGainsTaxSolutions.com to Register Right Now it’s CapitalGainsTaxSolutions.com. Please Rate, Review, and Subscribe. Please give this a thumbs up. If you haven’t already, please share this with somebody who could help it could transform their Exit Plan. By relieving that pressure feeling trapped by Capital Gains Tax. We so appreciate everyone out there. We also have our Podcast too, if you’re listening to this here on iTunes, but if you’re not hearing on YouTube, you can go to iTunes and search Capital Gains tax Solutions as well, and look for that Part 3 of our series that’s coming up, which is all about actually Executing and Preparing the Trust to be able to close on your transaction that’s coming up here shortly. Thanks so much for watching this video and we look to talk to look forward to talking to you soon.
Closed Deal Story
Can I Save Capital Gains Tax When Selling Cryptocurrency? The answer is, “YES.”
Silicon Valley Technology Expert Finds A ‘Deferred Sales Trust’ To Break Open A Clear Path To Sell Cryptocurrency To Defer Capital Gains Tax
Can I save capital gains tax when selling cryptocurrency? The answer is, “yes.” About 7 years ago, Peter and his wife purchased their first Ethereum. Who would have anticipated that the value would have increased by thousands of percent in just a few years? Peter, who has worked in the technology field for more than 20 years, saw a great opportunity to sell in late 2017, however, without a clear legal plan to defer the large capital gains tax, found himself feeling trapped by the consequences of selling.
Peter held on to his belief in the fundamental value of ethereum and the potential business opportunities it brought to end-users during the 2018 crash when the value of ETH fell from $1,432 to below $90. “That was a tough pill to swallow,” Peter continued. Fortunately, everything returned in 2021, and much more. In early 2021, Peter met Jessica Lanning of Lanning Financial who told him about the Deferred Sales Trust and introduced him to Brett Swarts of Capital Gains Tax Solutions. Then in May of 2021, ETH reached an all-time high of $4362. “I knew it was time to sell at least a big portion of my stock since I didn’t want to miss this opportunity again. Let’s just say it’s been a long three years since the high in 2018.”
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Want to learn more? Check Out The Blogs Below!
- Can a Deferred Sales Trust Be Used for Mergers and Acquisitions?
- How to Defer Capital Gains Tax When Selling Your Cryptocurrencies
- Need An Exit Strategy? The Deferred Sales Trust Might Be the Answer
