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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: Bo Didley who wrote (54)	2/16/1998 10:31:00 PM
From: Colin Cody	Respond to of 1383

Bo, Better than ask what does the IRS say (see rev rul 75-257), you might ask what does this LIBERTY outfit say? I SKIMMED their sites and see NOTHING. . They DO SAY THIS: . "Trust or trust estate is a legal entity for most all purposes as are common law trusts." Burnett v. Smith, 240 S.W. 1007 (1922) . "It is established by legal precedent that pure trusts are lawful, valid business organizations." Baker v. Stern, 58 ALR 462. . SO? WHO CARES? By the TONE of your question, it sounds to me like you think such a trust will save current income taxes. IT DOES NOT, and I didn't see LIBERTY SAY SO EITHER. . I see Liberty complain that the IRS taxes too much. I see information there about their Trusts. I saw NOTHING that said their trusts would relieve YOU from paying taxes currently. . If I missed it, please paste it here, and direct me to the cite location where you got it from, and I'll address their claims with more specificity. . Colin