Let us create a 3d Digital eBook for you! DigyCat.com
Use of a Franchise Business as a Family Tax Planning Strategy
Suggesting the use of a franchise business as a vehicle for family estate and tax planning. Specifically using as an example, The Car Wash Guys, a portable car wash franchise, where you will be purchasing a completely designed and outfitted car wash truck and the right to develop a specific city or regional area with out of pocket start-up costs between $25-50,000. There are many other types of mobile franchise busiensses in the same general price range due to competitive market components.
Many questions on the minds of parents wishing to establish and perpetuate multigenerational estate assets for growth and eventual transfer. Programs they wish to develop can range from the simple gift to complex estate restructuring.
How can you help your children start a business that does not have extreme start-up costs, extensive asset liability and has a greater chance of being profitable?
What type of business could you establish, nurture and grow, that has a greater chance of being successful, increase in value over the years and is easily divisible among children with different management abilities, different interests in owning or running a business and who live in different cities?
What type of business can be owned and operated by a family limited partnership that wishes to diversify their holdings and add a "business interest" to insure qualification by the IRS for the valuation discount when gifting minority interests?
Family Gifting Using the Annual $10-20,000 Exclusion Gift Per Child
Usual gifts are the funding of IRA's, pensions, additions to stock, bond, mutual fund or annuity accounts, purchase life insurance, fund education or special travel expenses. There is a desire for these gifts to be productive, protective, have long-term value, distribute income and have growth potential. A franchise business addresses all these issues.
Why not help your heirs purchase a mobile type franchise, such as a Decorating Den, Oil Butler, Dog Grooming Franchise or perhaps a Car Wash Guys franchise business? Two parents can gift in one tax year the out of pocket start-up costs to purchase this business. The other costs can be financed. When there are several children that live in different cities or just have different ideas of how to run things, the purchase price of this franchise business is low enough so that each child can have their own business. To accommodate the annual exclusion gift amounts per heir for families with multiple children and grandchildren and for families that wish to establish business area dominance, arrangement can be made with These types of mobile franchises like the Car Wash Guys can be purchased for several cities or several regions. If you discuss this strategy with the franchisors of such businesses they can assist you in accomodating your needs, after all they also want to sell franchises and extend their brands in as many places as possible.
Planned Asset Transfers To Children
Assets managed by parents for later transfer to their heirs include securities investment portfolios, real estate portfolios and personally owned business interests. There is a desire for these assets to have a greater chance of maintaining their success, increase in value over the years and be easily divisible so that all the children can be treated individually and fairly. A franchise business addresses all these issues. And when selecting an appropriate opportunity, why not make your new business venture an adventure full of personal growth, civic recognition, financial reward, fun and enjoyment for all.
Why not purchase a multiple city or multiple region Mobile Franchise franchise business? As a franchise purchaser you will be joining a proven system so that no prior business experience is needed for your new venture. You will be putting more odds for success on your side. As a Franchisee purchaser you will be joining a dynamic team that will enable you to be in business for yourself but not by yourself. A franchise business has an established 'floor value' that should increase over time with good management. The Car Wash Guys franchise can easily be broken up into individual cities or regions or organized and managed from the beginning as different cities and regions so that your heirs, who each have different interests and abilities, who may live in different cities across the country and who don't want to be tied to their siblings or to one project in one city, can receive a separate and complete business interest. This is possible now in a variety of franchised businesses.
The Family Limited Partnership
Effective estate planning is intended to provide for family members and others, while minimizing taxes and expenses. Intergenerational transfers and gifts often involve assets with joint ownership, partnership and/or other types of multiple person/entity ownership. There is a need to limit family and asset liability exposure. Many families create a family limited partnership that provides a means to own, manage and maintain control of assets while providing a vehicle for the orderly transfer of wealth to a younger generation. They transfer various personal, securities, real estate and business interests into this partnership. In the future it may be necessary for family limited partnerships to own and participate in an 'active business' to insure qualification by the IRS for a valuation discount when gifting minority interests to your heirs. What type of business can families with varying business backgrounds as well as varying interests in owning and running a business purchase to insure IRS qualification?
Why not have your family partnership purchase a multiple city or multiple region franchise business? This would be a mobile business so there is no business property to own, lease or negotiate as well as no need for property to use as a store or office. In some mobile franchise businesses there is no need for a telephone answering service or additional telephone lines as this business comes with a nationwide 800 number and pagers. Calls for your business are received via this number and alphanumerically paged out to you or your staff. And there is no need for inventory, warehouse or shelf space as all equipment and supplies to run your business fits and can be stored on your truck. The ease of starting and owning a mobile franchise busienss or a business like the Car Wash Guys franchise business makes it a practical and rewarding addition to a family's assets. You can start small and grow as your family grows or start regionally and continue your family's life long legacy of quality and domination. Think on this concept.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
Investing - Google News
This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news
Playing With Money - And Making More
Ready to start playing with your money? Not interested in complicated businesses or boring bank C.D.
Selecting Rules for Investing and Trading
There are three important differences between investing and trading. Overlooking them can lead to confusion.
Landlording 101, Tricks of The Trade
Looking Inside Your Tenant's MindBasic Mind-Reading Report 101 for LandlordsIt goes without saying but I will say it anyway. The better you understand your tenants and their personal situation, the better you can serve their needs and your own.
Rolling your 401k: Contributory IRA vs. Rollover IRA
In an ideal world you would start your working career with a great company in your early 20s, steadily climb the corporate ladder, retire at age 65, and draw a sufficient income from your accumulated 401k account to live happily ever after.Unfortunately, that's not how the real world works.
Stock Market Horizons: Gold $3,000, Oil $70
In the last two decades, even though gold prices have dwindled from $850 to $350 an ounce, there are still market gurus who predict gold price to hit $3000 an ounce. Hecla seems to be quite bullish about the future.
Keeping It Interesting
Some lines from a movie never leave your mind; I don't remember the context always, but I do recall the dialog. "The Big Chill" is one of the few movies I own (VHS).
Investing for Retirement - Not an All or Nothing Play
In 1519, Hernando Cortes, beached on the shores of unexplored Mexico, made a fateful decision: he would burn the ships he and his men arrived in and attempt to overthrow Montezuma and the mighty Aztec empire. The decision was risky.
Ask The SEC
Who is the SEC and why should I ask them anything? The Securities and Exchange Commission in Washington, DC is the government bureau that regulates the securities industry. They make the regulations that all stock exchange listed companies, brokerage houses and mutual funds must follow.
Angels, Are They Real?
They're real, but few survive. High risk investing is dangerous to your bank balance.
Investor Guide to Financial Health
Step 1: Spend less than you earnPerhaps the simplest financial concept is the toughest for us to conquer- spend less than you earn. After paying your living expenses (bills, loan and mortgage payments, cost of food, charitable contributions, taxes, etc), you can begin to save and invest toward your future.
Seecrets on Investment: Tired of Making Huge Losses in the Stock Market - Part 1
Over 80% of all individual investors lose money in any given span of ten years. This figure is likely to be higher, given most people's reluctance to reveal their losses.
Stock Market Leaders and Laggards
Leaders are stocks that breakout immediately when the market confirms a new rally. In the first several weeks, strong stocks with leadership ability will breakout on volume above their 50-day average.
The Benefits of Laddering Your CD Investments
If you've decided to stock some money away in a certificate of deposit, why not reap the highest benefit over time by laddering your CD investments? What's a CD latter? I'm glad you asked.A CD ladder is made up by purchasing several CD's at one time with different maturity dates.
What If You Absolutely Positively Could Not Lose - Would You Play the Stock Market?
Seniors on fixed incomes face a unique problem. Where dothey invest their savings to get maximum return on investment with limited risk? Some of the traditional places like CDs and Treasury Notes are extremely safe, however the yields tend to be very low.
The Power of Small Numbers: Trading Success is Based on Consistency, Not Home Runs
Online trading is so seductive - just sit, click, and rake in the profits! But as anyone who has ever seriously attempted online trading will probably tell you, it's just not as easy as it sounds.Many beginning traders are seduced by the lure of the "home run", that big trade that makes you an instant millionaire and retires you overnight to your own private island paradise.
Lobster Trapping for Investment Ideas
Recently, my family and I took a trip to Maine to visit relatives. During our stay, we toured the rocky shore lines and took in the beautiful architecture of the old towns.
Holy Grail Investments
Every year I go to the Money Show inOrlando, Florida. Thousands attend.
Options Education : Opinion versus Fact!
The most basic aspect of trading is learning to differentiatebetween what is FACTUAL and what is OPINION. If you stayinterested in the financial markets long enough you willdiscover that there are a lot of sharks out there who havebecome expert at making that task very difficult.
Creating a Financial Future - Putting Your Plan Into Action Part 1
This column has previously discussed "picturing the future that we desire", and outlining a plan to achieve it. We mentioned that the plan must include goal-setting, measurement, and implementation.
Profitability And Stock Turn Rate
The inventory of the typical store represents the largest single element of its total assets. The sale of goods from this inventory is the merchant's chief source of operating profit.
MyIdeal Domain Is For Sale - $8,000 For Enquiries eMail Us
© www.MyIdeal.biz - 2012