Pros, Cons & Tax Implications of Having a Family Trust скачать в хорошем качестве

Pros, Cons & Tax Implications of Having a Family Trust

Are you ready to dive deep into the world of Family Trusts? I've noticed a growing trend recently - more and more clients have been popping the question, "Should I set up a Family Trust for my real estate investments? Family Trusts can save you a lot on taxes, but they also have some drawbacks. Some of these aren't even about taxes! So today, we'll look at the good and the bad of Family Trusts. We'll also talk about how they can help you with taxes when someone dies in Canada, something we touched on in our last youtube video:    • What You Need to Know about Tax Implicatio...   We're also going to look at a real-life example of how a Family Trust can help you save money on taxes if you're a real estate investor. So let's get started and learn how to save on taxes together! Key Moments In This Episode ======================== 00:00 Introduction to Family Trusts: Pros and cons 02:40 Challenges with Family Trusts: Costs, 21-year rule, and asset distribution issues 05:22 Advantages of a Family Trust: Tax deferrals and flexibility 08:03 Using Family Trusts for asset control 10:47 Avoiding capital gain tax through Family Trust property transfer 13:32 Using Family Trusts in estate planning 16:26 Tax planning strategies to minimize liabilities in Family Trusts 18:46 Controlling and reducing taxes through a Family Trust If you have any questions or thoughts after watching this video, leave a comment below, and I’ll respond as soon as possible. Don’t forget to subscribe to my channel for more videos on Canadian real estate and tax-saving strategies so you don’t miss a thing! ---------------------- Please make sure to speak to a professional that knows your personal situation before making a decision. If you need to talk to someone on my team, email us at admin@cccpa.ca. ---------------------- SIGN UP FOR OUR NEWSLETTER Want to stay up-to-date with all the latest news about Real Estate Tax Tips, receive weekly tax tips and free real estate investment resources? Then subscribe to our newsletter here: https://realestatetaxtips.ca/youtube ---------------------- Want to PAY LESS TAX as a real estate investor? Check Out All of My Tax Saving Resources HERE: https://realestatetaxtips.ca/resource. ---------------------- FOLLOW ME ON SOCIAL MEDIA: Facebook:  / realestatetaxtips   Instagram:   / realestatetaxtips   ---------------------- ⭐Cherry’s Best Real Estate Tax Tips ⭐ ➡️Pay Taxes Even After Death?! | Tax on Death Explained:    • What You Need to Know about Tax Implicatio...   ➡️How to Turn Your Mortgage into a Tax Deductible Machine | 2023 High Interest Rate Edition:    • How to Turn Your Mortgage into a Tax Deduc...   ➡️How to Master Budgeting & Financial Management for Success:    • How to Master Budgeting & Financial Manage...   ➡️Court Case Reveals Tips & Tricks on Income Splitting for Tax Savings:    • Court Case Reveals Tips & Tricks on Income...   ➡️What You Need To Know About Multigenerational Home Renovation Tax Credit:    • What You Need To Know About Multigeneratio...   ➡️7 Strategies For Mastering Cash Flow in Real Estate Investing:    • 7 Strategies For Mastering Cash Flow in Re...   ➡️Property Management Solutions to Empower Landlords:    • Property Management Solutions to empower l...   ➡️Are We Double Taxed If We Earn Income In A Corporation:    • Are We Double Taxed If We Earn Income In A...   ---------------------- DISCLAIMER: Real estate Tax planning is a personalized decision and will depend on your situation, priorities, and risk tolerance. Consult with your legal and tax advisors to ensure you get the best personalized advice. The information contained in this video is for general information purposes only. The information is provided by ECRB Consulting Inc., RealEstateTaxTips.ca, Cherry Chan Professional Corporation and Cherry Chan. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the article or the information, products, services, or related graphics contained on the presentation for any purpose. Any reliance on such information is, therefore, strictly at your own risk. In no event will we be liable for any loss or damage, including, without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of or connected with the use of this information. #cherrychan #canadianrealestate #familytrust #estateplanning #taximplications #financialadvice #taxtips