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017 : Scott McGrath of Nexxess International
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In this episode, Dave talks with Scott McGrath, CEO of Nexxess International. Nexxess International offers a proprietary trust structure that allows our clients to benefit in many ways with the Trust. The reason people owe capital gains taxes is because of two reasons. First it's because "they" were the ones who created the gain. If the "person" or the wrong "entity" creates the gain then the IRS codes say it's a capital gain. Secondly, people owe gains because the taxable event actually "occurred." Those are the two reasons you would owe a capital gain. However, if the taxable event never occurs, then no tax is due. How is this possible? It's possible because we don't let the "person" own the assets when the gain occurs. The IRS Tax Code says the gains are "excluded" -to the extent that the gains are allocated to "corpus." Therefore, the gain is technically not a gain, if the IRS says the gains are "excluded." You must read the Tax Codes to understand this. At Nexxess International we help you navigate these codes to realize the best outcomes for yourself. If you are interested in learning more about Nexxess, or you are interested in becoming a Nexxess consultant yourself, visit http://msipodcast.com/017.
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