
My trust is in my heart, an invisible contract.

who's knows what might happen....
Common Uses of Fraudulent Trusts
Fraudulent trusts often hide the true ownership of assets and income or disguise the substance of transactions. The following arrangements have been used to promote fraudulent trust schemes:
The Fraudulent Business (or Unincorporated Business) Trust
The owner of a business transfers the business to a trust. The business trust then makes payments to "unit holders" which are characterized as deductible business expenses or deductible distributions that purport to reduce the taxable income of the business trust to the point where little or no tax is due. Also, the promoter claims the arrangement reduces or eliminates the owner’s self-employment taxes on the theory that the owner is receiving reduced or no income from the operation of the business.
The Fraudulent Equipment or Service Trust
The equipment trust is formed to hold equipment that is rented or leased to the business trust, often for inflated rates. The business trust then reduces its income by claiming deductions for payments to the equipment trust.
The Fraudulent Family Residence Trust
The owner of the family residence transfers the residence, including furnishings, to a trust. The trust claims to be a rental business and rents the residence to the owner, who is the caretaker of the property. The trust may attempt to deduct depreciation and the expenses of maintaining and operating the residence.
The Fraudulent Charitable Trust
The owner transfers assets or income to a trust claiming to be a charitable organization. The trust or payments made by the owner to the "charitable organization" pay for personal, educational, or recreational expenses. The payments are then claimed as "charitable" deductions.
The Fraudulent Final Trust
Often established in a foreign country that will impose little or no tax on the trusts, the final trust contains multiple arrangements allowing the money to flow through several trusts until the cash is ultimately distributed or made available to the original owner, purportedly tax free.
Promised Benefits of a Fraudulent Trust may Include:
The reduction or elimination of income subject to tax
Deductions for personal expenses paid by the trust
Depreciation deductions of an owner’s personal residence and furnishings
The reduction or elimination of self-employment taxes
The reduction or elimination of gift and estate taxes
treeman wrote: so i will rely on the information and investigation of more enlightened participants.
Highspirit wrote: The only way that remedy can be blocked is by corrupt Judges who will soon be seen for what they are.
Peace
HS :)
Very interesting Kenny but unfortunately off the mark IMO.
The only way of course that you may not be off the mark is if we do have totally corrupt Judges which may well be the case.
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