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Let's Not Forget Ray

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Let's Not Forget Ray Empty Let's Not Forget Ray

Post by Ssmith Wed Dec 02, 2015 11:17 am

TNT TONY'S brother, Ray Renfrow, is under Federal Court Injunction to not have ANYTHING to do with tax preparation, trusts, etc.  If you see him in violation of this Injunction, I'm sure the Judge in his case would love to hear from you.


Here is his contact information:


Judge James E. Gates
919-645-1790




Ray's Injunction:


http://www.justice.gov/sites/default/files/tax/legacy/2009/03/11/RRenfrow_Order.pdf



Background (talking how Ray formed sham trusts, took personal living expenses off tax returns, etc.)


http://www.justice.gov/sites/default/files/tax/legacy/2007/03/30/Renfrow_Compl.pdf
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Let's Not Forget Ray Empty Re: Let's Not Forget Ray

Post by chilimama Wed Dec 02, 2015 11:27 am

MAYBE SOMETHING LIKE THIS:

Verbatim Noted
Trust and Foundation
530- 881-1499 #465800
December 20, 2012
Speaker: Rayren 98
===========================
Foundation… is a charitable organization, put together for charitable purposes.
2 Types of foundation: Public foundation (most of you are familiar with) and Private family foundation (most of you not familiar with)
You’ve heard of names of foundations – Oprah Foundation, Bill Gates Foundation, Michael Jordan Foundation – but some of those foundations are public foundations, they’re not private, family foundations. So, there’s a difference, even if you heard the family name, doesn’t mean it’s a private family foundation. The main difference is based on what these foundations do and how they function.
Most of your public foundations… well, all of your public foundations are operating foundations. That means they operate. They do something, they manage something, whether it’s a home for unwed mothers, veterans who need housing, any type of charitable thing you can think of if it’s something that these foundations are openly engaged in doing – providing service, providing shelter. That’s an operating foundation.
And then you also have a non-operating foundation. That’s the exact opposite. That foundation, they don’t do anything but dish out money. That’s their purpose, is to give money to other charitable organizations, when needed, and it may also decide to do some charitable thing, but it would not become an operating entity. So, it would not operate a program or venture or things of that nature, but it may still do some small charitable thing that it wants to do from a… personal perspective. And that personal perspective would be what that family wants to do, whatever passion that they have. They would use that private family foundation to follow that passion. And if it be that it needs funding, they provide the funding. And then, of course, other foundations, other charities, 501c recognized charity, would be the direct recipients of funds coming from the private family foundation.
So… we have a charitable organization, and this is what all of us want to do, our charitable thing. And the majority of you on this particular call are going to be extremely charitable very soon. Your money is coming and you know that and I know that, so we’ll just rest on that, knowing that it is coming. But… charitable organizations – operating or non-operating, public or private
Now, one more thing about public foundation: it can solicit the general public for money – it can ask for funds, it can do fundraising… Private foundations, on the other hand, generally have one donor, and that’s the family that created it. They’re the main source of funding for the private foundation. Even though the private foundation may accept donations, it just cannot go out and ask for them.
Now, the private family foundation is actually the vehicle that we’re going to move forward with. A private family foundation is a separate entity, privately funded by you. It’s created with the specific purpose of contributing to various charitable causes. As a distinct legal entity, here are things that we can look forward to with the private foundation.
1.      It contributes to a charitable cause, and because you gave it the money, you get to take a tax deduction by funding that foundation. … You get to minimize your estate tax liability, and in some cases, completely eradicate it.
2.      The foundational lower capital gain tax on the sell of an appreciate property… contributed to charity of your choice, it can provide continuing employment and activity for your family members, identify and preserve your family name for years to come. Some of the highlights or attributes of the foundation.
3.      Immediate tax deduction of charity donation. Since this is your private family foundation, youu’re still in control of the money.
4.      The accumulation of foundation assets can grow tax-free. Foundation can get larger and larger over time, having more and more money to work with. Can have tax-free income. There are no gifts or estate tax on any amount donated to the foundation. This is an opportunity to establish permanent legacy for your family.
5.      Creator or founder of the foundation has complete legal control during his or her life. Ties right in with the trust. Legal control remains in the family forever. The opportunity to determine when, how much, and to which charity grants will be made. That’s awesome power control. You get to dictate and say who what when where how and how many whenever you want to.
6.      The benefit of separating charitable income tax deductions from actual grant making, this provide unique and effective training ground to share value and vision for younger generations… teaching them how to be charitable. This is talking about having an understanding of stewardship, utilizing self-directed social capital. What is social capital? That’s when you, on Arpil 15, you reluctantly write that check. That social capital. So this gives you an opportunity to be a steward over those dollars and be the one directing where those dollars go.
7.      Maximum enjoyment and fulfillment from being a grant maker.
Let’s look at some other angles of this thing called the foundation.
Once you’ve satisfied all your wants and needs and obligations, what do you do with the rest of your money? Well, we’re going to teach you to it give away. Who are you going to give it away to? To your own private family foundation. You have the excess money just sitting there, what do you plan on doing with it anyway? More than like it was something for down the road. So you can utilize this tool to accomplish that down-the-road thought process in a tax-saving environment, as well as the purpose of the foundations… that’s for grant-making and being charitable by nature. Have the best of all worlds. Have our affairs set up so we have our own foundation.
What are your wants? Home, cars, boats, airplanes… What are your needs? Once you satisfied those, what are you going to do with the money that’s coming in every year? You give it away, and then you learn how to utilize it later with self-directed social capital.
You get to save money on taxes, you can utilize the foundation for matriarch and patriarch care. That’s when you get old. Some of us have old folks right now in the family – they’re the patriarchs in the family, grandmother, grandfather, might even be you if you’re the oldest one in the entire family unit. So we can start with you. But you’ll learn how to use foundation to provide care for the matriarch and patriarch. The biggest part of that is, if the foundation is providing the care for the matriarch and patriarch, they don’t have to go and hang out in nursing homes. The college education funding, career opportunities. You go to school, you go to college, get a degree – cant find a job. A lot of them like that right now.
Have you ever thought about asking your young person: what is your passion? What is it that you really like doing that you really look forward to doing that brings you peace and harmony? Whatever that is, I would be willing to bet you it’s charitable by nature. If it’s charitable by nature, that means instead of you going out looking for a job, you could create a foundation based on your passion. Be on the board of directors, trustee, general manager, whatever, and get funding to follow your passion, and be paid at the same time. Wow. That’s mind blowing. Nobody told our young people that when you go to college, graduate, instead of trying to go find a job, create your own.
These tools are powerful folks when you understand what they provide and how to utilize it. Career opportunities through a charity, you just need to know how to do it. Investment opportunity, let’s talk about investment for a second.
No matter what investment, what are you looking at? 30, 33 percent on that investment?
Foundations can invest in stock market and they only pay 2% excise tax. The neat thing about that is that 2% excise tax will fall under the 5% requirement that it must pay out every year. Isn’t that something?
You get to create a lucrative retirement utilizing your private family foundation. Now I’m talking about something that will beat the 401K, IRAs, none of it can hold a candle to this. Utilizing this as a retirement program to do charitable giving, establish a family legacy. Now your family name is out there. You can do that without having to be a multimillionaire. All depends on what you’re doing and what you’re giving back to. But that family name will be in perpetuity once you’ve established it and each generation can just keep it going.
The one I really love the most is community economic empowerment. When you’re banding together with other foundations, you represent a tremendous amount of power. If there’s something in your community that you don’t like – fix it. no need to move out or move somewhere. You can clean up your own town and your own city utilizing foundations, banding together.
Right now we’re approaching the end of the year, what’s the biggest thing on most folks mind? Taxes. Setting up a foundation for just the tax advantages is not the reason to do it. But it has some great advantages on social capital. The money you donate to your foundation, you can take a tax write-off because you donate it to your foundation. Now where did it go? In theory, take your money out of your left pocket and move it to your right pocket. You’ve just made a tax deductible donation. It’s still in your pockets, isnt’ it? who has a say so on how it’s spent? You do. The money you donate to your own private foundation, you can deduct up to 30% of your adjusted gross income.
This is the dollar amount that you’ve taken the business expenses you’re going to take, itemize deduction, all of that, now you have your adjusted gross income. Well, you can take 30% of that amount, give it to your foundation and right it off. Let’s put some number to this.
Let’s say your adjusted gross income $100K, at this printing (using old notes), their tax was $25,152 on that $100K. Now, had they moved $30K into the foundation, which they still have control of, that would bring their taxable income to $70K. Now, the tax on $70K that year was $16,010. Now, what did they save? They save $9,142, just by moving their money from their left pocket to their right pocket. That’s an extra $9K that income earner would not have had, but they also gave $30K into a charity that would ultimately be their retirement as well. That was just the first year.
Look at the next year, do the exact same strategy. Now the foundation is $60K. can do this year after year. The private foundation does have an annual payout requirement of 5% of its net asset value. First year has $30K, put it to work, yield a $3K return on investment. Off the $33K, 5% of that has to be paid out, that’s $1650. The 5% has to be paid out will be paid out in expense through a combination of 3 categories. Category 1, other 501c3, other charities. Or 2, that 5% could have been utilized for the administrative function of the foundation. Foundation is going to have administrative expenses. If it has a headquareter it’s going to have upkeep, maintenance. If it has a staff, there are other expenses, salaries, benefits. That other 1650 would be utilize for that as well. Category 3, charitable activities and pursuits. Foundation itself may decide to do charity – scholarships. Other charities, administrative, scholarships. 5% has to be utilized every year.
Look at solutions that we can achieve if we have such a tool.
Clergy, churches… offerings, tithing, go straight to the foundation. You’re saving money. When we have money, we give money.
Patriarch, matriarch care: housing, nursing home care. These things can be achieved.
College funding, successor trustees, and setting up community scholarships.
Career opportunities: You can create jobs and receive grants from the good old boy and donations from the public at large to fund that particular foundation… now I’m talking about public foundation.
Investment: 401K conversions, Roth IRA conversions – the sky is the limit.
Real estate investment: capital gain – $0. That’s law, there’s no capital gain tax for charities when they get involved in these types of activities. All of this you can do and have by having your own family foundation just like the big guys and you don’t have to be the big guys.
Stock portfolio: 2% excise tax. Be it anything that you do as an individual and you let it stay in the charitable community of what you’re doing.
Asset accumulation: property tax -- $0. Haven’t found a state yet where charity has to pay property taxes.
This is how it is a lucrative retirement. You’re getting out of the box… You’re doing charitable work but you can utilize a tool just like others.
What makes this a lucrative retirement – funds grow tax-free with this vehicle. There’s no capital gain tax. There’s a 1-2% excise tax. There’s no property tax. This thing can just build up money like nobody’s business. And you being in control, you will learn how to apply the rules, the regulations and the guidelines and you’ll make it fit. You’ll have for yourself a full benefit package. There will be plenty of money for that, right? Of course. Look at how we pile it up with the tax savings, putting it to work, tax-free. Even if you do the stock market, only 1-2% excise tax. Big savings.
How about unlimited travel? You can do all of that.
When we talk about family legacy, all of that I just shared with you, involve your children, it just brings your family closer, children and grandchildren, family getting back together, talking about doing family things.
Charitable family name lasts for generations. Once you create this foundation, it’s gonna live on into perpetuity because each generation behind you will be taught how to just keep it going. Will never die out. Our children will learn to responsibly how to manage money. This become a teaching environment for them.
Last but and least, charitable activities bind families. When you look at the family out here in America today, which ones are the happier families? More than likely that they’re the charitable ones as well.
Community… economic empowerment, communities receive full power of your money … boys and girls clubs, goodwill, little leagues… redirect that social capital and put it right back into your community by utilizing foundation. The sky’s the limit. You just need to know that it exists, that it’s available and that you can take advantage of it.
Q and A
Q: Does the trust fit inside of the foundation or is the foundation protected by the trust?
Ray: Foundation is an organization. Has to have a structure to be built upon – corporate type or trust type entity called a foundation. Can build it through trust or through foundation. You have a foundation going to be created in trust form, but it’s going to be a charitable trust. Will receive a 501c3 status.
Q: is it irrevocable?
Ray: Yes. That is if I would do it, set it up as irrevocable foundation.
Q: can I establish a foundation and have it in a trust.
R: that would be a trust, that would be the form of it. this particular structure won’t have president and vice president, it will have trustees.
If a trust that does something that cause litigation, sure, it can be sued. I haven’t heard of any charity being sued lately.
Q: accident with a car…
R: charity can put a wall of separation there, and the automobile belongs to the trust, now the charity is utilizing the car.
It’s a separate trust sitting over there on left field.
Q: if you hit a home or somebody got hurt on your foundation’s property.
R: the foundation will have the appropriate insurance. The foundation will be held in trust. Basically, the same thing you’re being taught as an individual, your charitable organization will do the same thing.
Q: the organization needed a car, the car would be held in a separate trust?
R: yes, that is what I will do.
Q: would that be revocable or irrevocable?
R: It can be either or. Generally I just state everything in irrevocable so I don’t slip up or do the wrong thing.
If the foundation bought the vehicle and placed it in trust revocably, if there’s a lawsuit against that foundation it could be forced to pull that car out of trust so that it can be attached to the litigation. So I will still do everything irrevocable to make sure there’s no way, no back door, nothing, coming in to any of this to protect it.
Q: if the foundation has to sell the vehicle, what happens to the equity that was in the vehicle?
R: it goes into the trust that owns the vehicle. Now we’re getting into a little… don’t want to get too detailed… and too confusing… but the trust that owns the vehicle would then have the money from the sale of the vehicle to preferably buy a newer vehicle, whatever the board of trustee of that trust wants to do… can that money could work its way back to the foundation? Sure there is. Suffice to say, it can be done. Because of the way you set up the arrangement.

Q: my private foundation, can it purchase a property for its headquarter and lease the extra space for income?
R: sure. You can get that lease money tax-free.
If it’s part of the headquarter, headquarter is on that property, then there’s not going to be any tax on it.
When you’re ready to put your foundation together, whatever company you’re working with, they’ll work with you in that capacity.
**The net value of whatever the foundation has , 5% has to go out. 
**Nothing on the calls covers how to do… only what you can do… whoever you hire to create the foundation, they’ll tell you how to do it, that’s part of the service. They should. If they won’t, don’t hire them.
**the difference between public and private: Public solicits for funding, private foundation doesn’t. Private foundation has one donor, the family, and gets appropriate tax deduction when donate to it. The private foundation should be looked at as the distribution point for money to go to other charities.
**Can let private foundation funds the public foundation.
**for example: the person getting ready to step into 15 million dollars. Move a major portion to family foundation, 10 million. They want to do what your daughter wants to do, teach music. They could take the 10 million dollars and invest it, whatever it’s yielding that will cover the facility for the free services that you want to give to people to teach music.
You can create a public foundation, and the private foundation funds it. The public foundation can hire whoever it wants. Still can give the service free to the recipients, so the private foundation will fund the public foundation which will pay the salary for the musicians.
The key thing: you’re following your passion. This is how you want to give back. You get to use social capital to do it.
You can be the administrator and never lift up any pen. Use the administrative power to tell so-and-so to get things done.
You decide how involve you want to be as an administrator.
Q: if your children aren’t onboard with all of this, can you start it out as a public thing and they don’t even know they’re working for their own family foundation?
R: yes, there’s way to do that.
Q: until they’re of age. They’ll be working for their own company and don’t know it until they’re at a certain age.
R: sure, there are ways to do that. You want to look at it as bringing the family together and be involved. If you feel that might not be it, there are ways to do it anonymously. Whoever you hire can help you with that. Anonymity is no problem when you utilize these tools.

**When you’re using entities, programs, you’re really getting out of the realm of “you can’t do it”. You’re coming into the realm of “how do I utilize these 2, 3, 4 entities and make it work?”
**You don’t have to thoroughly know about it. You can pay someone else who knows about it to do it for you…. You learn what is taking place so that you can live in that environment easier.
**You can dissolve anything that you created. I said it can last into perpetuity if that’s something you want. But if it’s a case where you need something to be dissolved, you dissolve it.
A private family foundation… you won’t ever dissolve it. I can guarantee you that.
**Whatever money in the trust, you can donate it to charity. You can donate it to the foundation. You gave away to charity, so the trust can’t get that money that was donated to the foundation. It can never get it back.
Q: if I were to have 10 million dollars, would I put all of it into a foundation right away so I can manipulate it later, or just a percentage?
R: once you’ve satisfied your wants, need and obligation, give the rest away to your foundation.
Q: but in month 1… I’m curious where I would keep this liquid money that I would be using… in just a certain… bank accounts?
R: sure.
Q: would you recommend that I do a foundation through a bank or through a special service that does foundation somewhere out and about that I learned about on line or something?
R: banks may be into that now… you just go with whatever you’re comfortable with.
…..
You can interview whoever you’re looking to be the service provider, banks or someone down the streets…
If you know what you want, you’re just going to them and say: can you create it? You’re not going to them asking questions – you’re going to them and give them instructions: “I need a foundation and I want it created in trust form. Can you do that?”
Q: Post RV, when you do your workshops, I’m going to learn that info?
R: Definitely.
You learn enough to articulate what you want. You just don’t know how to draft it. That’s what you’re paying the braniacs for. Either they can do it or they can’t.
Q: if I don’t keep out enough money for my real living expenses… if I make a mistake and find that I don’t have enough, is it challenging to go to my foundation and take out money?
R: you won’t take out money from your foundation. If you think you’ve put too much money into your foundation, you’ll learn how to repatriate that money. There’ll be people that know what the deal is, so to speak.
….
You’re going to know what you’re doing before you do it, as long as you listen. Listen, learn, before you do it.
**when you hire people to create these entities for you, that’s when the specific learning comes from.
==Question about checking credentials==
**by asking them what they know via telling them what you want. You can care less about the person as long as you know what you want: I want this, can you provide it.
If they can, then look into their credentials, referrals, their customers get what they ask for?
They may not give you their client telephone number; they may have their client contact you. You can ask them about their service. Certain people will say, “no, I’m not going to tell you that.” then get up and walk. It’s your money, you’re in control. Always remember that: you’re in control.
=======
**when you give the currency to a foundation, and the foundation exchanges the currency, there’s no tax.
**if you give the currency to the foundation before the exchange, it’s the foundation making the exchange now, not you, so it’s tax-free.
Look at $5K to $7K, the cheapest to start a foundation… if you find something a whole lot less than that, you’re lucky.
**Don’t go and get an EIN number before you even create an entity for it. When they give you that number, they’re going to look at that at certain date that we’re going to get money from the entity and you’re going to get letters asking for that money, for something you haven’t even created yet.
**when you create the foundation, you’re going to donate the asset to the foundation, the IRS is not going to have a problem with it. That’s going to be the paper trail, the donation.
**(tax for) the LLC feeds into your personal name, going into your 1040. Other entities, if you created them properly, they will have their own tax paperwork to submit. None of that goes back to you and your 1040.
Call back number: 530.881.1499, code#: 465800

*****************
Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy. - Norman Schwarzkopf, Jr.
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Let's Not Forget Ray Empty Re: Let's Not Forget Ray

Post by Ssmith Wed Dec 02, 2015 1:47 pm

Great!
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Let's Not Forget Ray Empty Re: Let's Not Forget Ray

Post by Terbo56 Wed Dec 02, 2015 1:49 pm

Yeah, 'Great White'- {Can you say, 'Shark'?}
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Let's Not Forget Ray Empty Re: Let's Not Forget Ray

Post by sensibleplease Wed Dec 02, 2015 11:33 pm

Just found a place to report him
http://www.justice.gov/tax/program-shut-down-schemes-and-scams

From that webpage:
Details about recent injunctions and criminal prosecutions are available on the Tax Division's press page. Press releases are organized chronologically, or you can use the "SEARCH TAX DIVISION" feature on that page to look up a particular preparer or promoter. You can also find below an alphabetical list of injunctions the Tax Division has obtained against preparers and promoters in the past twelve years.
If you believe that one of the enjoined persons or businesses listed below may be violating an injunction, please contact the Tax Division with details at TAX.MAIL@USDOJ.gov

Raymond A Renfrow is on this list.
.
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Let's Not Forget Ray Empty Re: Let's Not Forget Ray

Post by sensibleplease Wed Dec 02, 2015 11:44 pm

Remember, when you report Ray, don't forget to mention Tony who has been promoting Ray's Wealth Retention Seminars for years to his own followers. Tony is culpable as well according to the injunction wording.
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Let's Not Forget Ray Empty Re: Let's Not Forget Ray

Post by RamblerNash Tue Dec 15, 2015 11:51 pm

BUMP!
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