Unlocking Tax Savings: The Power of the Spendthrift Trust (with Sally Gimon)

Welcome to the Frugalpreneur podcast. I am your host, Sarah St. John.This episode is what I refer to as a showcase episode where I feature a bootstrapped entrepreneur and they briefly share their tips, tricks, tactics, techniques and tools that help them bootstrap their business and the successes and failures along the way.My hope is that each of these showcase episodes will provide at least one valuable takeaway that you can implement with right away in your own bootstrap business journey.

Now onto the episode hello, my name is Sally Gimmon.I want to teach as many US business owners, US franchise owners and also US entrepreneurs and 1099 income owners how they can save taxes legally with the Spendthrift Trust. It's legal. It's in the IRS tax code 643B and it's been front of the United States Supreme Court two times. It's as legal as legal can be.My personal story I as real estate investor in 2019 I wholesale seven properties and paid off $184,000 in debt with a rock star in my real estate group. I knew about short term capital gains and I had $50,000 to be in my bank account. Fast forward to April 4th of 2020.My CPA calls me to say congratulations, your tax bracket went from 22% to 24%. What does that mean? I owed the federal government $94,000 in short term capital gains April 4th. Covid started in March.On April 1st, three of my properties did not pay me. I was in the money crunch. My solution? I took a HELOC out of my house to pay my bill, but it defeats the purpose of being completely debt free.I started researching the Rockefeller Spendthrift Trust which is called the Office and I started both my business and my beneficial Spendthrift Trust. September of 2020. I became the first female mastermind in my real estate group, September 2020 and I started my own company March of 2022.Teaching others to Save Taxes. Just to give you an idea, VA salesman he's single.In 2024 he made $150,000 with the spendthrift trust saving of 90% on federal income taxes at least and no longer paying state Virginia taxes. We're going to save him $34,587 a year or an extra $2,888 per month. Again, this is legal. It's in the irs tax code 643B.I want to help as many people learn the secret so they too can save money. Just like US presidents, the Rockefellers, the Duponts and the Carnegie's.I'd bootstrap the www the trust is you.com by going on videos on YouTube, Instagram and also on LinkedIn. And then when I started making money I started a new class on the great discovery@www.sallygimmon.com.i now have a professional person working on my stuff and I'm getting about seven meetings a day. It's so easy to do. My biggest failure was it's taken me about a year to get very very successful with with business brokers.Now that I work with business brokers, I help their clients who are selling their business save capital gains. Gentlemen, selling a company for $4 million at 15% will save $600,000. At 20% they'll save $800,000.The people who are buying the business are going to save federal income taxes. I now have several JV partners who bring me clients day in and day out.One of my best tricks to doing a TikTok is I'll talk about something and then I will put on it saying how they can save taxes and then I put it on my friend. My class www.sallygimmon.com they get out to my free class and then they can set up an appointment with me.I also have a way to send out five things to business brokers showing them how I'm saving them money. Because of that mail campaign In January of 2024, I have about 15 business brokers who send this is my way again.It's in my CRM that I do have to pay per month but if I don't have a CRM I can't do anything. I was working part time in the early mornings so I can make money so I could pay for it and now I don't have to do that anymore.You have to bleed a little bit to make money. If you want to save us taxes legally, you need to know more about the Spendthrift Trust. I have a free class on the Great discovery.Please go out to www.sally gimmon.com. you'll get 23 minute presentation, three articles from Forbes magazine, two pages of case law and examples of people saving money.If you're making at least $80,000 worse every single year, you could be saving at least four or five figures on taxes. If you're an investor and you sell anything at a profit, I don't care if it's crypto, forex or your wholesaling fix and flipping.You're in the stock market, you're a day trader, you are doing options trading you make $50,000 and you're at 22% tax rate, you'll pay $11,000 in taxes, you're at 24%. You'll pay $12,000 in taxes, you're At 32%. You'll pay $16,000 on that same $50,000. You need to learn about the Spend Thrift Trust.I appreciate you listening to me. Have a beautiful day.

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