@originaldohnthornton: Ferraris.
Lamborghinis.
McLarens.
Rolls-Royces.
A lot of exotic car owners already hold their vehicles inside LLCs / Corporations.
Why?
Because they know the expenses can be deductible there.
But that’s only part of the equation.
Those entities are still publicly registered and publicly searchable.
Which means your exotic car ownership trail can still be traced through state records.
And if there’s ever a catastrophic accident, injury claim, or lawsuit?
That public ownership trail becomes a serious problem fast.
But when exotic vehicles are held inside a contract law spendthrift trust…
the vehicle-related expenses become trust expenses that are tax deductible to the trust.
Plus, the trust is not publicly registered with the state like an LLC / Corporation…
creating far greater anonymity along with powerful lawsuit protection and no taxable events.
Same exotic cars.
Completely different level of protection.
(Info purposes only; not a licensed tax, legal, or accounting professional) #taxdeductions #taxsavings #taxreduction #ferrari
