Trust Fraud Issues to be aware of
9
Book VIII Chapter 3 Fraud Schemes A Business Intelligence Report By Celtic Wind Investment Presented by: Nicola Chin and Michael Belgeri Trusts ,Trust Fraud, and Taxes: A Risk Management Guide
-
Upload
michael-belgeri -
Category
Documents
-
view
1.039 -
download
0
description
These are original documents we\'ve been developing over the past year to educate Realtors, US Investors, Foreign Investors, distressed home owners and Retiring Baby Boomers
Transcript of Trust Fraud Issues to be aware of
Book VIIIChapter 3
Fraud Schemes
A Business Intelligence ReportBy Celtic Wind Investment
Presented by: Nicola Chin and Michael Belgeri
Trusts ,Trust Fraud, and Taxes:
A Risk Management Guide
Trust Fraud
Trust FraudWarning
Signs
A promise to reduce or eliminate income and self employment tax.
Deductions for personal expenses paid by the trust.
Depreciation deductions on an owner’s personal residence and furnishings.
High fees for trust packages, to be offset by promised tax benefits.
Use of back-dated documents.Unjustified replacement of trustee.Lack of an independent trustee.Use of post office boxes for trust addresses.Use of terms such as pure trust, constitutional trust, sovereign trust or unincorporated business organization.
Fraudulent Trust: “BUSINESS” TRUST
“Unincorporated business org”.
Fraudulent Trust:“SERVICE TRUST”
Fraudulent Trust:“CHARITABLE” TRUST
Fraudulent Trust:“FOREIGN” TRUST
Fraudulent Trust:“FAMILY RESIDENCE” TRUST
LEGITIMATE TRUSTS: LAND TRUST STATES
http://www.irs.gov/businesses/small/article/0,,id=106553,00.html
