Daniel Nigito on Route 664
At Endow America Network Foundation we’re here to help you build a legacy of giving through the power of philanthropy, and on this week’s episode of Route 664 The Road to Human Kindness we had the pleasure of interviewing Daniel Nigito author of several books on the topic including The Power of Leveraging the Charitable Remainder Trust. If you remember our previous articles, the CRT is one of three powerful tools people can use to give back to society and, in turn, create stable income for their future and reduce their own taxes. By opting for a CRT you also avoid the government’s capital gains tax, a remarkable strategy philanthropists use to give to charity while building more wealth for themselves, and it’s available to you today.
Remarkably, it’s actually been available to every American since 1969 when Congress first introduced Section 664 of the Internal Revenue Code. To Daniel Nigito, Section 664 was one of the greatest gifts ever given by Congress, but it is also the least known section of the IRC. You can create a trust with you as the trustee and transfer appreciated property into this trust including stock, real property, etc. If you sell that property inside the trust, you end up avoiding having to pay a capital gains tax, get income from that trust for the rest of your life or the life of your family. And finally, the accumulated remainder will eventually go to the charity you previously chose, and the government rewards you for being that smart with your money. You don’t have to pinch me! I’m not dreaming, very much awake because, let’s face it, talking about tax codes and laws can be a pretty boring conversation, but what about talking about your money? What about making your money work for you? Now that certainly gets my attention!
But the charitable remainder trust is just one avenue; you can also choose a pooled income fund, or even a charitable gift annuity. Either one of these three avenues are all part of Route 664 which we also call Social Secharity, because it uses Charity to not only enrich your own finances but has the potential to rescue us all from a national debt crisis by endowing America with a more prosperous financial future. We believe that Social Secharity is the social security of the succeeding generations of Americans, because social security itself was designed for a few limited generations of Americans and is quickly running low. Section 664 is our missing peace, the answer that’s been under our noses the entire time. We just have to know where to look. And you don’t have to be rich or a financial whiz to use this tool for your own advantage and that of your business or family. It’s a tool for the middle working class and has the potential to get America out of the $30 trillion mess we’re in. For more information or to speak with one of our certified professional philanthropic advisors, visit www.socialsecharity.org and like us on Facebook @SocialSecharity. You can also catch our weekly webcast like this one, Route 664 the Road to Human Kindness, and tune in to our radio station https://live365.com/station/Route-664-Radio-a93922. America’s future is in our hands; let’s make it a legacy of giving!
Social Secharity (Section 664) is a bold new way to move the country from 30 trillion in debt to economic well being through charitable wealth. Help resolve our country’s problems, improve your own future income and pay less tax! Best of all be a grateful benefactor to your community.
Written by Ossman J. Darwiche 2021