wners of manufactured home communities today have many concerns, even if they are ready and willing to sell their communities. The gobble-gobble-gobble sound of the present capital gains tax is one of those concerns. Laslocky has information on ways you can actually benefit from GIVING YOUR COMMUNITY AWAY.
It may be the right direction for some owners to consider working with a charitable trust. This is one way to avoid part of the headaches of federal and state taxes, help a worthy cause, and actually make money at the same time.
Owners who are interested in pursuing this should contact Bob Laslocky for further information, as each situation is unique and owners' needs vary. In simplified form, what he is proposing is that you as an owner place your shares in your community into a charitable trust, paying a certain percentage of interest on the fair market value of the property. That charitable trust can then sell your community, without incurring a capital gains tax -- and under this transaction, can pay you an income from the sale -- 67 percent more than if you had sold your community outright.
In addition, you would receive the generous benefits of a charitable income tax deduction(representing a percentage of the fair market value of your property). The income tax deduction can be taken against 30 percent of your entire adjusted gross income(not just the money you gain from the charitable trust). In summary, you can increase cash flow, shelter a percentage of your income, and help the worthy cause of your choice at the same time.
Interested? Call Bob to discuss this option further, as well as your attorney, accountant, etc. GIVING YOUR COMMUNITY AWAY may be your choice for 1997.
Bob Laslocky is a manufactured home community specialist and 30-year real estate veteran. Contact him at: Fastnet Realty, 229 Oakland Avenue, Audubon, New Jersey 08106, 609-546-0876, Fax 609-310-1220.
Patricia Greco is a professional writer and marketing
communications consultant to the manufactured housing industry.
Patti is published in the Journal and in the Allen Letter, and is
collaborating with George Allen on the nation wide "resource Packet"
direct mail promotion. Greco Writing creates custom-designed literature
and logos that reflect the upgrade image of the industry.
Greco Writing, 8 Wintergreen Court, Lunenburg, MA 01462 Phone 978-582-0961
