Well, in my over four decades of business start ups, I've witnessed some pretty unusual business ventures...and even been responsible for some of them. However, the start-up I'm going to describe in this blog, takes the cake. lol
If you have read some of my cost segregation study-related blogs of late, you will understand the background of what I am going to share here. See links to these blogs below:
As the perennial saying goes, courtesy of Ben Franklin, even though most attribute this to Mark Twain..."The only two certainties in life are death and taxes." For the chosen few...I think I just figured the ultimate "work around!"
Quite by chance, I was brainstorming some of the unique applications for the remarkable tax savings generated by cost segregation studies...where even after over 20 years of being on the IRS books, only 5% of eligible property owners actually take advantage of. In 2008, having facilitated over 200 such studies, yielding literally millions of dollars in tax benefits for my referral clients, I filed Patent Pendings for some pretty unique applications for this engineering process. See www.commercialcostsegregation.com and www.hlcostseg.com and look at the Patent Pending Tab and Charity Sections on each site.
Check out this YouTube villa on the subject also...
So...here is the BIG REVELATION for you all to ponder and better yet, act upon...if a US taxpayer dies and had owned commercial real estate and/or a vacation rental property(ies) valued in excess of $5 million (for our purposes) and never performed cost segregation studies on these properties before... the decedent's estate can wipe out taxes due the IRS up to the benefits generated...leaving a whole heck of a lot more money for the heirs having these studies completed...even after death. This must be completed before the estate is finally settled, of course.
That's right...a wealthy dead person can get the last laugh at the expense of the IRS and award more inheritance to their heirs by using our unique and perfect legitimate process outlined above. My late grandfather, Peter I, who absolutely despised the IRS, would be so proud of his grandson who actually figured out how to beat the inevitability of "death and taxes" for the lucky heirs of certain decedents.
Reach out to me at firstname.lastname@example.org to learn more.