Discussion in 'The Howard Stern Show' started by GaryPuppet, May 16, 2013.
Most 1%'s do.
that's fuckin dumb with mortgage rates the way they are....
What I would like to know is the rationale behind that trust (aside from hiding his name)... :Winst:
other than saving mortgage interest, what's the benefit? or is that the only benefit?
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.
Maybe it protects him from Beth getting her paws hoofs on it.
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.
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.
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.
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.
i don't know shit about money.
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
no, not on a personal residence
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.
"Listen, there is just no money in the budget for any contests"
no, on the last sentence
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.