Trump University Asset Protection 101: Tax and Legal Strategies of the Rich

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There are three things that will destroy your hard-earned wealthfaster than anything else: income taxes, lawsuits, and estatetaxes. The wealthy know this and use the kind of strategies foundin this book to protect their fortunes. Unfortunately, most peoplefocus on playing "offense" with their money, and forget all aboutprotecting it by playing financial defense—until they getblindsided. Trump University Asset Protection 101 gives you thepower to protect and grow your wealth at the same time, no matterhow much or ...

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Trump University Asset Protection 101: Tax and Legal Strategies of the Rich

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There are three things that will destroy your hard-earned wealthfaster than anything else: income taxes, lawsuits, and estatetaxes. The wealthy know this and use the kind of strategies foundin this book to protect their fortunes. Unfortunately, most peoplefocus on playing "offense" with their money, and forget all aboutprotecting it by playing financial defense—until they getblindsided. Trump University Asset Protection 101 gives you thepower to protect and grow your wealth at the same time, no matterhow much or how little you have in the bank.

This wealth-maximizing guide is written by professionalfinancial advisor to the wealthy, J.J. Childers. He shows you howto tap into the powerful secrets the wealthy have always used toprotect their assets for themselves and their families. Legalentities and other sophisticated strategies, explained here insimple terms, can help you protect your money from taxes andlawsuits—just like the wealthy do.

You'll learn powerful strategies including:

  • Ways to use asset protection to grow your wealth
  • Massive tax deductions the rich use every day
  • How owning your own business can save you a fortune
  • Protecting yourself against lawsuits
  • Using business entities and tax structures to keep assets out ofthe reach of others
  • Why you must have an estate plan, no matter how young youare

Building wealth is useless if you can't protect it from thegovernment and other people who want to take it away from you.Trump University Asset Protection 101 gives you all the tools youneed to avoid the three big obstacles to wealth creation andprotection—lawsuits, income taxes, and estate taxes. You don'thave to be Donald Trump to use these strategies, but you do have tobe just as smart about protecting your hard-earned wealth.

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Product Details

  • ISBN-13: 9780470174647
  • Publisher: Wiley
  • Publication date: 10/19/2007
  • Series: Trump University Series
  • Edition number: 1
  • Pages: 288
  • Sales rank: 700,727
  • Product dimensions: 6.00 (w) x 8.90 (h) x 1.10 (d)

Meet the Author

J.J. Childers is an attorney specializing in wealth structures that reduce taxes and shield assets. He speaks on these topics to thousands of individuals, investors, and small business owners each year. His unique ability to explain complicated wealth-protection strategies in simple terms has made him one of the nation's most sought-after experts on asset-protecting legal structures.

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Table of Contents

Series Foreword.

By Donald J. Trump.

Part I. Tax Secrets Of The Wealthy.

Chapter One. Why Making Money is Not Enough: The CloselyGuarded Secret of the Wealthy.

Why Making Money is NOT Enough.

The Government Sponsored Attack on Wealth.

Tax Reduction: Legal Ways to Downsize Uncle Sam.

Escaping Lawsuit Hell.

Estate Planning: Avoiding the "Wealth Death Penalty".

Retirement Planning: Unlocking Einstein's Most Powerful Forceon Earth.

Asset-Sheltering Legal Entities of the Rich.

Chapter Two. Cracking the Tax Code: How UnderstandingDifferent Types of Taxes, Income, and Taxpayers Can SignificantlyReduce and Even Eliminate Taxes.

Types of Taxes: Understanding What You're UpAgainst.

Types of Income: What You Don't Know Can Hurt You.

Different Types of Income: Mean Different Taxes!

Types of Taxpayers: Making Change(s) Means MakingMoney.

Chapter Three. Outrageously Powerful Tax Deductions You CanTake—Without Owning Your Own Business.

Above the Line Deductions.

Itemized Deductions.

Phenomenal Philanthropy Strategy.

Tax Credits: Dollar for Dollar Deductions.

Other Personal Tax Planning Strategies.

Chapter Four. The Greatest Tax Shelter In the World:Owning Your Own Business.

Having Your Cake And Eating It Too With Tax-Free FringeBenefits.

Retirement Plan Power.

Minor Deductions Mean Major Savings.

Income Shifting for Tax Savings.

Real Estate Riches.

Paying Zero Percent Capital Gains.

The Secret of Cost Segregation.

Let's Get Fiscal.

Planning Ahead For Year-End Planning.

Section 179 Depreciation "Magic".

Part II. Lawsuit Protection Secrets of the Wealthy.

Chapter Five. What Are the Odds of Your Being Sued?

Who Is Zeroing In On Your Wealth?

Could Your Assets Really Be In Someone's Sights?

Are You Allowing Yourself To Be A Target?

How Open To Attack Are You?

What A Exemptions And How Can They Help Guard YourAssets?

If They Can't Find It, They Can't Take It!

Feeling Lucky Plaintiff? Well Are Ya?

Chapter Six. Business Entities That Will Legally KeepYour Assets Invisible, Untouchable And Out Of Reach.

What On Earth Is A "Business Entity"?

Which Entity Is The "Best?"

Sole Proprietorships- A Plaintiff's Best Friend, Your WorstEnemy!

Partnerships- Dealin' With The Devil!

Corporations- Protect Yourself With The Big Boys'Toys.

Control Your Business Taxation with "S Corporations".

With Limited Partnerships You Can Be In Control!

Solving The General Partner Conundrum.

Limited Liability Companies- There's A New Kid InTown.

Exemptions- Let Uncle Sam Protect Your Assets ForYou!

If You're Going To Be Liable, Let Someone Else Pay ForIt.

Putting The Entity Puzzle Together.

Chapter Seven. Creating a Legal M.E.S.S. (Multiple EntityStructuring Strategy): An Extreme Makeover For YourAssets.

Is Your Home Safe At The B.A.S.E. Level?

Truly Turn Your Home Into A Castle

Our Financial Shelter Is Our Tax Shelter!

Down Home!!

Using Debt To Your Advantage.

Never Put All Your Eggs Into One Basket.

First B.A.S.E.- Keep Real Estate Separate!

Second B.A.S.E.- Protect Your 21st CenturyGoldmine.

Third B.A.S.E.- Separate Your Trade From The Tools Of TheTrade.

Home B.A.S.E.- Separate The Money-Making Assets From MoneyLosers.

Charging Orders.

Limiting Charging Orders With Limited Partnerships.

Charging Orders And Limited Liability Companies.

Charging Orders And Corporations.

Own Nothing, But Control Everything.

Chapter Eight. How The Rich Avoid Mines That Can Pierce YourArmor.

The Corporate Wealth "Maintenance" Plan.

Piercing the Corporate Veil.

Fraudulent Transfers-Don't Commit FRAUD!

Insurance Is A Last Resort!

When You Need It, It's Already Too Late!

Part III. Estate & Retirement Planning Secrets OfThe Wealthy.

Chapter Nine. Estate Plan of the Rich: How to Overcome theGovernment's Efforts to Redistribute Your Family's Wealth With TheEstate Planning Process.

Your Money, Your Choice.

Estate Planning: The Answers Are In The Questions .

The Pitfalls of Not Having A Plan.

Footsteps To Follow: The Estate Planning Process.

Step 1: Documentation.

Step 2: Analysis.

Step 3: Formulation.

Step 4: Implementation.

Step 5: Review and Revision.

Chapter Ten. How the Rich TRUST Themselves to Keep Wealth inthe Family and Away from the Government.

There's Hell, and then there's Probate!!

Save A Seat For The Tax Man At Your Funeral.

Tools of The Trade For Estate Planning.

You Will Go To Probate.

Life Insurance Lowdown.

It's All A Matter of Trust.

The Indispensable Estate Planning Tool.

Phenomenal Philanthropy.

Gifting: This Is NOT Your Usual Present!

Other Vital Estate Planning Tools.

Some Final Thoughts On Estate Planning.

Chapter Eleven. What the Rich Know that Others Don'tAbout Getting (and Staying) Wealthy.

The Amazing Miracle of Compounding.

Don't Tell Me, SHOW Me The Money.

I've Got It Covered!

You're On Your Own!

Golden Years or Golden Arches.

It's All Up To YOU!

Failing To Plan Is Planning To Fail!!

Individual Retirement Accounts-Something ForEveryone.

Qualified Plans-Safe And Sound.

Quasi-Qualified Plans.

Qualified Annuity Plan.

Tax-Deferred Annuity.

Nonqualified Plans-Proceed With Caution.

Begin Your Retirement Plan Today!

Chapter Twelve. What the Rich And Powerful Won't Tell YouAbout Retirement Plans.

Safeguarding Your Nest Egg.

Don't Forget About The Tax Benefits!

What Can An IRA Own?

Breaking Out Of The Retirement Plan Trap.

The Best Kept Secret Of The Wealthy Revealed

Partnering Up With OPM (Other People's Money).

Part IV. Applying The Secrets Of The Wealthy.

Chapter Thirteen. Asset Protection Planning in Action:Howthe Rich Put it All Together.

Chapter Fourteen. The Asset Protection Team:Counter-Attack Specialists that Handle the DirtyWork.

Your "Master Mind" Team.

Finding a Good Attorney.

Finding a Good Tax Advisor.

Chapter Fifteen. A Call To Action.

Part V. Asset Protection Resources Of The Rich.

List Of Deductions: Government Subsidies TraditionallyReserved For The Rich.

Checklists: Tips, Tactics and Strategies for Advanced AssetProtection.

Glossary: Terms that the Wealthy Know that You MustLearn.

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Customer Reviews

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Sort by: Showing 1 – 5 of 4 Customer Reviews
  • Posted March 9, 2009

    more from this reviewer

    A good basic course in protecting your assets

    Donald Trump has branded a core set of texts on personal finance that will probably sell quite well thanks to the power of his imprimatur. In that role, Trump has provided a generic two-paragraph foreword for all the books in this series. The author, J.J. Childers, offers a good basic text that explains the whys and hows of arranging assets to protect them from lawsuits and taxes, particularly estate taxes, in the U.S. He also discusses how to keep more money by structuring your wealth properly. This is all great advice, but the book's real value is that it makes you aware of these basic personal finance concepts, and gets you strategizing clearly about how to hang on to - and protect - your earnings. getAbstract finds some good advice in this primer on asset protection, though you may want to supplement it with more advanced materials as you develop a deeper understanding of this important subject.

    1 out of 1 people found this review helpful.

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