Platinum Trust Group for ZERO TAXES ever again??

Question

I am constantly looking for ways to reduce my taxes on RE, both the passive cash flow and when selling. I came across Platinum Trust Group through a Live video they did for the AOA (Apartment Owners Association), in which they claim with their Copyrighted Trust you can avoid ALL TAXES and get ultimate Asset protection (better than any LLC or other Trusts supposedly). The idea is everything must remain in the Trust and you are deferring Taxes basically indefinitely, meaning to a time when the Trust is no longer, so multiple generations down the road. Only down side is that the Trust has to pay for everything otherwise it is a distribution.

Has anyone used them before? They seem legit, but want to make sure, wondering why everyone doesn't do this??

Here is the video explaining it and their site:

https://platinumtrustgroup.com...

Has anyone used them before? They seem legit, but want to make sure, wondering why everyone doesn't do this??

Here is the video explaining it and their site:

https://platinumtrustgroup.com...

David Shaw · Answer

@Bob Norton Thank you for the feedback, glad to see a CPA thinks so as well. After posting I looked around some more and found I wasn't the first to ask about them. They attend many RE conferences and promote their servies so wondering if anyone has worked with them before. But the idea itself sounds fishy regardless of how professional they look.

Bob Norton · Answer

@David Shaw Sounds fishy to me.

Roger Vaughn · Answer

This is an old post I stumbled on, but I'm friend-quaintainces with Bruce so it's worth chiming in:

1. Some of my clients (I run Swift Marketing (wholesaler leads, etc) + Fremont Funding (commercial-only lending, no residential) have Platinum Trusts, and have been very happy with them. I also know there are a few EAs and CPAs who have platinum trusts from my discussions with Bruce Mack at Platinum Trust Group.

2. The original post:  >>wondering why everyone doesn't do this??>>>

Cost. If you're just starting out, and mostly on W2 income, the cost-vs-benefit isn't as strong for a mid-range or successful investor. That said, wealth compounds of course, and money saved on taxes = more to invest, etc.

So whether it's good for you is really a math equation. How much do you spend on taxes, insurance, etc?

Full disclosure: I am not an attorney or CPA. I have 15+yrs in banking + previously held an RE license.

Also FYI: Bruce flipped a ton of houses in vegas, I think > 150+. On one of the podcasts he talked about how he got sued and lost (prior to having a trust), which caused him to dive deep into the world of trusts and what is possible. Originally I think it was about asset protection, but then he discovered (big) tax benefits, no 1031s, etc - it's worth digging into.

For EAs, CPAs, etc who want actual deep-dive industry info, ask him. He'll get you tax-attorney opinion letters etc to review. He's a friend of the Bigger Pockets world.

Linda Weygant · Answer

Just remember - tax law is not specific to a certain tax provider.  If this is a legit scenario, then any competent professional can handle this.

Also remember - taxes are not cookie cutter, one size fits all scenarios.  Tax strategy, planning and forward thinking issues are based on your personal situation and scenario.  What is a deduction for one person may not be for you, and vice versa.  Same with taxable income.

Platinum Trust Group for ZERO TAXES ever again??

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