Howard paid CA$H for his Palm Beach estate!

Discussion in 'The Howard Stern Show' started by GaryPuppet, May 16, 2013.

  1. GaryPuppet

    GaryPuppet Well-Known Member

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  2. FSFN

    FSFN Well-Known Member

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    Most 1%'s do.
     
  3. stripes

    stripes Active Member Banned User

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    that's fuckin dumb with mortgage rates the way they are....
     
  4. TelegramSam

    TelegramSam I love Sam's cock Banned User

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    What I would like to know is the rationale behind that trust (aside from hiding his name)... :Winst:
     
  5. Bye You!

    Bye You! The n word guy Gold

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    do they?

    other than saving mortgage interest, what's the benefit? or is that the only benefit?
     
  6. DogStar69

    DogStar69 Well-Known Member

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    There must be some kind of tax or other benefit of doing it that way. It's not like he needs a mortgage anyway. But I think the Hampton's estate was mortgaged or owned by one of his "corporations" and rented to him to save on taxes.
     
  7. DogStar69

    DogStar69 Well-Known Member

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    Maybe it protects him from Beth getting her paws hoofs on it.
     
  8. BethSucks

    BethSucks Well-Known Member Staff Member

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    All of his properties are held that way, essentially each one operates as an independent LLC which he pays rent to, thus allowing him to deduct all the expenses related to the property.
     
  9. GaryPuppet

    GaryPuppet Well-Known Member

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  10. unclefreddy

    unclefreddy Well-Known Member

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    Besides the LLC angle, I think with a trust you can minimize taxes when passing property down to your kids. Whatever it is poor people, they are getting a better deal than you when you have to mortgage property.
     
  11. Bye You!

    Bye You! The n word guy Gold

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    :up:
     
  12. FSFN

    FSFN Well-Known Member

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    If you could, you would also. It's a smart move, why give the banks any of your money? It's the equivalent of us 99%'s paying cash for a $20,000 car.
     
  13. stripes

    stripes Active Member Banned User

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    all celebs use the llc to buy assets for privacy reasons & it affords them some security protection for those assets when they are sued as most deep pockets usually are.
     
  14. Bye You!

    Bye You! The n word guy Gold

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    i don't know shit about money. :dontknow:
     
  15. stripes

    stripes Active Member Banned User

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    its opportunity cost tho, if you can get money this cheap, usually better to do so & use your cash for other investments with higher return
     
  16. stripes

    stripes Active Member Banned User

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    no, not on a personal residence
     
  17. Bye You!

    Bye You! The n word guy Gold

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    see? that's what I was thinking.

    i guess it al depends on what % 51 mil or 22 thousand dollars is of your net worth. If it's like 50 cents to you, who cares? but very few people are THAT rich, including Wiggy.
     
  18. chuk

    chuk Well-Known Member

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    "Listen, there is just no money in the budget for any contests"
     
  19. stripes

    stripes Active Member Banned User

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    no, on the last sentence
     
  20. Martina

    Martina New Member

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    Another corporate asset. Now Bethie can visit grandma in Florida and get in-home plastic surgery all in one spot...plus Judy and "the boys" have a retirement residence now. Howard is planning for the future. Maybe the 3 daughters can't get ahold of a Florida property in the case of death or divorce. You gotta take care of the Ostrosky's, who knows what photos Beth has tucked away in her wonder bra.