Can The Bulletproof Trust Be Used as A Free Church
While the trust can be used as a charity trust, one cannot use the indenture to create a faith based organization (FBO). Elite Tax Secrets has the paperwork specifically for 508c1a churches and a FBO.
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Bulletproof Trust Explained
The Bulletproof Trust by PWA is a complex irrevocable private express trust. It has the ability to distribute or not to the beneficiaries - at any time by consent of the board of trustees. It is also setup for general welfare (charity) needs. A ...
How Does A "Free Church" Remove Property Taxes
A "Free Church" has the ability to remove property taxes; however, sales taxes occur upon sale of the property to another entity - depending on the local states laws, it may still be liable for sales taxes. To remove property taxes, each county will ...
Can Anyone Become A 508(c)(1)(A) or FBO For Tax Purposes
Not just anyone can become an Faith Based Organization (FBO)! If the organization is not actually founded on religion and the practice of that religion, one could end up in jail for tax-evasion. The IRS recognizes that there is a separation between ...
Is a Web Structure Needed for a FBO/Church
A trust can own land or assets in lieu of the church. A trust web is a double-veil of protection for assets. It is a good security to have in cases of trustee incompetence or catastrophic failure of the entity due to unforeseen reasons.
Doesn't An FBO (Faith Based Organization) Need A Minister To Qualify As A Church
Yes, but a synonym for minister is someone who is an administrator of a trust. The administrator and minister mean the same thing. Therefore, by being an admin for the trust - one also qualifies as the minister of that trust.