Concerned about real estate taxes in the new year? Call Joe Gandolfo PhD & Associates 1-800-553-1008.
Founder of Joe Gandolfo, PhD & Associates
Chartered Life Underwriter (CLU), Chartered Financial Consultant (ChFC)
Author of 5 books
Appeared on CNNfn, EWTN, Today, & other TV shows
Featured in Fortune and Wall Street Journal
BS, Miami University of Ohio, 1958; MBA, PhD, California Coast University, 1981, 1983
Married 53 years to wife, Caroline; 3 kids, 6 grandchildren
Joe Gandolfo: Tax Consultation for the Wealthy
Doing God’s Work
Joe Gandolfo is a nationally known income, estate and gift tax planning specialist with over 50 years of experience and over 20,000 clients across the country with a total net-worth ranging up to $4.5 billion. He believes that he makes money specifically to do work for the Lord. What motivates him is giving away 50% of what he earns to missions and charities, locally and nationally.
“I want to see money do God’s work,” he said. “I send my money to organizations like Operation Blessing because they help people who are less fortunate.”
Joe says that no matter how one earns a living, God has to come first. “You can’t separate your personal life from your business life. Our objective on earth is holiness, not happiness,” he said. Joe believes that a person should worship regularly, tithe and give to the needy. He says tithing is important and essential to life’s success and doing God’s work. “God wants ten percent of what you gross. The Bible didn’t make suggestions, it made commandments,” he said. “I would recommend that people tithe even with what little they have and see what the Lord will do in their life. Psalm 128 says that if you have fear of the Lord and walk in his ways, you’ll enjoy the fruits of your labor; you will prosper and be happy.”
Joe says that whether a person believes in God or not, it is good to give something away to those less fortunate because God will honor that. “I believe the people who don’t have the money, but do God’s work, then that’s their tithe to the Lord,” he said.
Tax Saving Tips
Joe says that he can eliminate probate fees (6% to 22% of estate) and estate taxes (45% of estate) at death without you buying life insurance or annuities. Attorneys and CPAs tend to be conservative by nature. If they are handling your income tax planning and estate planning, they're very possibly overlooking many opportunities including where the money should go after death.
“In other words, when you die, when people leave their money, they don’t know what attorneys or financial institutions are going to do with the money. People should want to leave their money to an institution that will be a good steward of their money to do God’s work and not dissipate it on salaries and a bunch of nonsense,” he said. “God allows us to live a long life and be blessed financially, to help other people. If we don’t do that, He’s going to shorten our life because we really have no other purpose.” Joe says that the best tax tip is, “give to the Lord.”
How He Helps
Joe wants people to understand the importance of living trusts, wills, living wills and durable power of attorney. “Everyone should have a will, a living trust and durable power of attorney – financial, medical and a living will,” he said. “Then, those who have a net worth of more than $3.5 million, need to create a private foundation so the IRS can’t take 45% of your net worth.”
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