728 - The Trust is YOU: Tom interviews Sally Gimon - Screw The Commute

728 – The Trust is YOU: Tom interviews Sally Gimon

I'm here with Sally Gimon and she's been an English teacher in Poland and a business analyst for a tire company. She sells insurance, too. And I got a way to sell a lot of life insurance. I'll tell her. See what she thinks about it. But her claim to fame is real estate investing and the trust that saves you lots of money. So if you like to save money in taxes, you better listen to this episode.

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Screw The Commute Podcast Show Notes Episode 728

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[01:32] Tom's introduction to Sally Gimon

[05:04] Learned to love books from mom

[09:54] Asset protection and the courts

[18:13] Sponsor message

[20:15] A typical day for Sally

Entrepreneurial Resources Mentioned in This Podcast

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Tom on TikTokhttps://tiktok.com/@digitalmultimillionaire/

Sally's websitehttps://thetrustisyou.com/

Email Sally: info@thetrustisyou.com

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Emanuel Rose – https://screwthecommute.com/727/

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Episode 728 – Sally Gimon
[00:00:08] Welcome to Screw the Commute. The entrepreneurial podcast dedicated to getting you out of the car and into the money, with your host, lifelong entrepreneur and multimillionaire, Tom Antion.

[00:00:24] Hey everybody, it's Tom here with episode 728 To Screw the Commute podcast. I'm here with Sally Gimon and she's been an English teacher in Poland and a business analyst for a tire company. She sells insurance, too. And I got a way to sell a lot of life insurance. I'll tell her. See what she thinks about it. But her claim to fame is real estate investing and the trust that saves you lots of money. So if you like to save money in taxes, you better listen to this episode. All right. I hope you didn't miss Episode 727. That was a manual. Rose teaching us how to market to Gen Z. Oh, man, I don't even like that generation. But he kind of told me how to market to them anyway, and he was Episode 727. Of course, when you want to get to a back episode, you go screw the commute.com slash. And then the episode number that was 727. This is 728. All right. Make sure you follow me on TikTok at tiktok.com/@digitalmultimillionaire. We've got one of the videos is I think is hitting about 650,000 views. And I've got several hundred short training videos there for you.

[00:01:33] All right. Let's get to the main event. Sally Gimon is here. She's been a real estate investor since February of 2019. And in July of 2020, she bought a bank owned property for 20 grand and that would go to auction for 50 grand. I think that's changed a little bit. I think it went for 64 grand, if I'm not sure. Correct me on that. And and then she's new. She's going to pay a load in capital gains taxes. And this is what led her to find the business and beneficial spendthrift trust to save those taxes or at least defer them. I'm not sure we'll ask her about it. Sally, are you ready to screw? The commute?

[00:02:12] I'm ready. The commute. All right. Good to talk to you. Well, let me tell you my idea about you sold an insurance for a long time, right? Was that life insurance? Correct.

[00:02:23] It was mostly property and casualty, but also life insurance. Okay. I'm licensed both ways.

[00:02:27] All right, So here's my idea for life insurance. I think I could sell more than anybody in the United States. So what I would do is I would call in death threats to the family the day before my appointment. And I would sell like crazy. What, you think that would work?

[00:02:46] I possibly could or you'd be arrested. I'm not sure which.

[00:02:48] Well, yeah, well, there's always pros and cons to everything. So.

[00:02:54] So true story. The way I've got my life insurance. I was working for a military insurance company doing property and casualty, and they asked us to do term insurance quotes and then they would send out an adjuster. So we would get the wives of the military members and like, Oh, I'm only £110. And it would come back with the £320 and we'd have to change the quote. And it was a disaster. Six months later, they're like, No, we're not doing this anymore.

[00:03:18] Well, so let's take you back a little bit, because I do understand you were a military brat and your parents met, I think, overseas. So tell us a little bit about your background.

[00:03:31] In Alaska called Bethel, Alaska, 400 miles north of Anchorage.

[00:03:35] That's where they met. I thought they were your mother's from Ireland, didn't she? Correct.

[00:03:39] My mom was supposedly on her way to Australia and she got sidetracked and ended up in Alaska and met my dad and he decided he was going to marry her the first day he met her.

[00:03:48] Oh, my God. That's a good that's a cool story there for sure. Now, this this stuff about now, I understand. Sadly, your mother got sick and this kind of was the impetus to to get you into this field to tell us about that.

[00:04:04] My parents were living in Phoenix. They drove cross country to my oldest nephew's wedding. By the way, I have to go back to listen to 728 because all my nieces and nephews are that generation. Okay.

[00:04:15] No, that's 727 You're seven 2727.

[00:04:17] I'm 728 sorry. 727 Um, along the way, unfortunately, she got sepsis of the blood. Blood poisoning. She was on a ventilator for 18 months. She got better. She got home. You know, thank God my dad was military because everything was paid for a true story. She got sick Late October 2018. I came back to North Carolina to see for Christmas and New Year's Eve. And on New Year's Eve, she was on the floor of 24 patients on ventilators and four different families took their loved one off the ventilator so they didn't have to pay Medicare the next day for 2019. That, to me was just so sad. It made me it made me angry and sad at the same time.

[00:05:01] Oh, wow. Um, well, one thing that I understand. Your mother turned you on to what? She taught you to love books?

[00:05:11] Yes and yes, very much.

[00:05:12] There's a book called The Power of Your Subconscious Mind by Joseph Murray. And I've heard you claim that. Accidentally impacted your life. How did how does that work?

[00:05:24] It really did. My great Aunt Kitty. Interesting lady in Ireland. She. She twice caught the largest salmon. So the best fisherman in Ireland, Waterford had to do a new trophy. Seeing the best fisher person. Her entire philosophy was like, If I have to think about it, let me just take a nap. She take cat naps. So I. I read the book by accident. That sounds funny, but it was. I had taken the book out of the library when everything shut down for COVID. It was a part of a trilogy. And when I started, when I read the book, I just started putting thoughts into my mind on how to do things. Like just literally this week I was very frustrated trying to figure out how to do a newsletter on LinkedIn. I'm like, Just think about it in your sleep. Next morning, get up at 545 in the morning and go right to LinkedIn. And I figured it out. I'm like, Okay, this really does work. Um.

[00:06:18] Yeah, I use a visualization. I don't know if that would be called that or not, but I had an interesting thing happen. I can't really swim, but I had this nightclub near a resort lake and all the people in the nightclub always wanted to take me on their boats and stuff. And so and so the whole summer they tried to get me to water ski, and I was wearing, like, two life jackets in case one malfunctioned because I can't swim. So. So and I'm just like, I get up, I in two, you know, less than a second, I crash into the water this whole summer. And then finally, the last day of the summer, I got up and went a mile down the lake and that was the end of the summer. And so I just thought my mind just thought about this all winter. And then the next summer they took me out. I got up and went five miles down the lake the first try. There's no reason that that happened other than the mind, you know, thinking about how it was done right over those over and over again all winter and then going and doing it. So I'm a big, big fan of that visualization and the mind how the mind does.

[00:07:31] It's true that it's amazing what the mind can do for you as long as you give it access to do what it needs to do.

[00:07:37] Exactly. Yeah. And when you say access, do you mean proper nutrition or exercise? I mean proper.

[00:07:43] Nutrition. Trusting your mind. I mean, it's kind of funny. I I've told several people to read the book and one of my friends, she's a she kind of interesting. She wrote a bot to scrape your thousand leads on LinkedIn. And she goes, Every time I get stuck, I stumble on it. She goes, I take it. I go to sleep thinking about the idea. And next morning it's done. And she's like, I've never done this before. And she's writing all kinds of programs now.

[00:08:08] Very powerful. Now, didn't that lead to another book, What the Rockefellers do thing?

[00:08:14] Correct. I had read the book before I joined my real estate group. Garrett Gunderson wrote the book. He's an instructor in my real estate group. One of the reasons I joined. I had called a friend when I got my mom's November 2018 Medicare bill Just let you know it was $172,000. Wow. At the time, I was working as a medicare broker and I had an $8,000 a year deductible for my health insurance. I'm like, I need to change something, right? So when I called my friend Glen, he was telling me about people in the real estate group, the classes. And he goes, Oh, there's a gentleman called Garrett Gunderson. I'm like, Oh, sacred Cows. And what the Rockefellers do. And because you read them, I'm like, Of course I read them. Garrett Gunderson had to change his name. It's now called What the Rockefellers Do, but it talks about the Rockefellers Trust. It's seven generations old, you know, seven generations long, almost 400 people in it. And when I found out about the capital gains, you know, I knew I was going to pay over $7,100 on that deal. I had 13 months to figure things out, but I researched it. I went with the Rockefellers and then I found the law firm that does offer this trust. It's. It's legal, it's patented, and it's in the IRS tax code. 643 B and I became their client. And then I started talking to the the attorney who helped me. I said, I'm in a real estate group. Could I start teaching this to my real estate friends? And he's like, Sure, we just have to have you sign this contract. So I am now a licensed contractor for the law firm and, you know, helping investors and helping people who make 1099 income save federal taxes. I've become the best friend. It's a wonderful job to have.

[00:09:54] All right. Now, you know, I've over the years, you know, I've been hit up by a lot of things, especially in the boom of asset protection, people that were on every street corner, you know, trying to tell my worry about this kind of stuff is it's not had a 250 year history like a corporation an as being tested in the courts. How would you respond to that?

[00:10:20] Uh, to tell you the truth, this comes from England. Back when King Henry the Eighth was chopping off his wives heads. Don't want to give you the year because I'm dyslexic. I'll give you the wrong year. But he started the Church of England. He went to go, um, tax all the Lords and ladies of England saying, Hey, you got to pay for my church. The Lords and Ladies went back to the Magna Carta, even older than King Henry the Eighth, and they came up with the trust. When it's come over to the United States, it's contract law. Your LLCs, your corp's, your C Corp are statutory law. The law firm. My work on behalf has inherited a trust that's turning 355 years old this year. So I understand you being a little bit hesitant about it because you've never heard about this. It's not talked about in schools. Um, I'm going to throw somebody under the bus if you know who Grant Cardone is. Yeah, he's a real estate guru. There's a recording of him out there saying that he doesn't want people to know about the trust, because if you're looking at a real estate deal, Tom, that's maybe only 7% and you're like, Oh, that rate of return is not that good. He can swoop in, make the 7% rate of return on that, plus the 23.8% saving capital gains. So he's making over 30% rate of return. And he's like, I want to keep that as a secret. I'm like, Because of you, Grant Cardone, I'm going to talk to as many people as I can.

[00:11:42] Well, I don't know this guy personally. And then but, but yeah, I mean, some of these, some of these super big names, there's other ones I won't mention that are just clearly, I mean that technically I guess would be taking advantage of something. But there's other people in the real estate field that are just totally rip offs. I mean, I witnessed a undercover recording of one of the big name guys claiming a $40 Million profit on a mobile home park. And then the investigative reporters went out and it was just a vacant land. They just made it all up to sell their coaching. You know, this is so much so many real estate scams out there, for sure.

[00:12:23] My story just give you a real quick story. You know, I was allowed to talk to my real estate group for 18 months. I had the gentleman who ran it was my business partner. He lied about something. He lied about money. And when I confronted him, I sent a simple text saying, Hey, what happened with this deal? The next day we had a zoom and he blamed me for everything. And his last words to me was were You'll be nothing without me. I'm like, okay, those are fighting words.

[00:12:50] Yeah. And I'll be I won't be in jail either without you.

[00:12:54] Very true.

[00:12:55] See, actually, my bigger concern with this now that you told me about, if it goes bad, all those new IRS agents, I think they are allowed to cut your head off.

[00:13:08] So. Well.

[00:13:10] To tell you the truth, most of the new IRS agents I know it's in my bio, so many of the IRS agents have retired and how they do taxes because I've gone down this rabbit hole. They send them through a computer and the only time a human touches it is if there's something on the tax return that does not make sense. So, you know, with this, when you start your trust, we have an entire team that works with you. You're going to file a 1041 federal tax return, not a 1040 that most people do. There's special rules for the 1041. And we have that with the price of the trust. You have a retainer for for the CPA and they'll file your first year 1041 free of charge for you. So we want to make sure you know exactly what you're getting into. You're doing everything. You're doing everything correctly because we don't want people to be messed up or saying this was a rip off or being mad at me or anything like that.

[00:14:05] How much does it cost to set this up? And then is this a yearly thing you need to keep up with? Right.

[00:14:11] The it's just one time costs. There are two different trusts. One is a business trust for 1099 income earners. Both of them are spendthrift. So the business spendthrift trust and then the beneficial trust is for investors. I don't care if you're a real estate investor, crypto investor, crypto miner, stock market or forex. The beneficial trusts will defer. You had a question earlier. It will defer it forever until the tax codes change. It's a contract. Your your contract would never change. So capital gains, interest income, dividend income, rental roles and royalties are deferred forever with this and from generation to generation. So one trust either the business or beneficial trust is going to be $20,500. And then to have two trusts, maybe you start a trust today and won't do the second trust until ten months later or three years later. The second trust would be both trusts would be $37,000. I mean, it's you if you're making more than $50,000 on a deal, you it's almost going to pay for itself right then and there. And it's year after year after year.

[00:15:19] Now, does this have to be a commercial property or can it be your home? If you bought a home for 50,000 and sold it for 200?

[00:15:29] Uh, here's a true story for having your home. You partially put it into the trust until you're going to put it up for sale. Because in case you need a headlock or you get solar panels on it. But when you're looking at your own personal home, if you're married, you can claim $50,000 in capital gains. If you're single, I'm sorry, $500,000 capital gains or if you're single, $250,000 in capital gains. I did have friends, a friend from college. I was at their wedding. They had a house down in Tampa Bay and they sold it, um, July 31st, August 1st. And their house, they did get the they were going to have to pay more than that in capital gains. So they got the trust. And then he does a lot of stock market trading and things like that. So he's using the trust several different ways. But most people, when they have their own personal home, probably won't run into it. But then again, who knows where real estate is going with how crazy it's been the past few years.

[00:16:22] Well, yeah. And so none of this can be retroactive, right? Is that correct? Unfortunately, no. It goes on the basis of what your house is worth now.

[00:16:33] Correct. It starts that way.

[00:16:36] My friend Roger and Robin, the couple who I'm talking about. They bought their townhouse on an island in Tampa Bay. It's a beautiful place. They bought it, but they bought it five, six years ago for $350,000. They sold it for $1.3 million. So mean people wanted to live there. Um, movie stars and everything else. And so he knew what I was doing. And, you know, they he's, he's making money with doing his stock trading and everything else. But that was the impetus for them to get the trust because they knew they were going to pay too much in capital gains on that house. They he got moved by the bank up to Columbus, Ohio. They live in a gorgeous house that was only $250,000.

[00:17:16] Well, I can tell you that I think I don't know if you work out of your home or a small office or anything, but I think you should move your office to your brother's brewery and then get people all junked up and get them to sign up there.

[00:17:32] My brother has a brewery. He does very well. He wins medals for his beer. I don't know if you remember an old, uh. What was it called? Uh, one of the beers they bought. Bitter beer face. I don't like the taste of beer. Give me whiskey. Give me gin. Just beer is a nasty tasting.

[00:17:49] I agree with you. And I owned a nightclub. I had the second biggest nightclub in the state for six years. And. And even the fact that I didn't like the taste of beer, I was allergic to alcohol, so I didn't drink one drop of anything. I ate all the pizza. But I mean most.

[00:18:08] But so you did have to worry about drinking up all your profits.

[00:18:11] Exactly right. That's the thing. Yeah.

[00:18:13] So we got to take a brief sponsor break. When we come back, we'll we'll ask Sally what a typical day looks like for her and she'll tell you how to get ahold of more information on this and how to get ahold of her. So, folks, about 25 years ago or so, it kind of turned the Internet marketing guru world on its head and that people at my level were charging 50 or 100 grand up front to teach what they knew about Internet and digital marketing. And I knew a lot of these people they'd be hiding out in Mexico if you gave them 50 grand upfront. A lot of them were rip offs. So I said, you know, that's too risky for people to put that kind of money up, especially small business people. So so I said, you know, I'm going to charge this an entry fee and then I'm going to tie my success to your success. So for me to get my 50 grand, you have to net 200 grand. Well, people really like this. And here are 25 years later, the thing's still going strong. 1800 students and tens of thousands of them in my audiences around the world. And it's a very unique program in that it's all one on one.

[00:19:16] You get an immersion weekend here in the great Internet Marketing Retreat Center in Virginia Beach. We have our own TV studio. We shoot marketing videos for you. Everything is one on one. You're not lumped in with people more advanced or less advanced than you. And you also get a scholarship to my school. It's the only license dedicated internet and digital marketing school in the country, probably the world. So check it out at great Internet Marketing. Training.com. No high pressure here, just extremely high value. And I'm not going to disappear on you because I don't get my big money. I want my 50 grand. So. So you'll know I'll be here to help you. And in addition to my whole staff that you can make appointments with, and if you have assistants, they can make appointments with me and my staff on your behalf. So nobody else on earth gives you this kind of service. So check it out at great Internet marketing training.com.

[00:20:15] All right. We're here with Sally Gimon, and she is a person that avoids beer, which is a good, good thing right there. So, Sally, let's say a typical day look like for you as a real estate investor and a trust sales person.

[00:20:35] Um, I've moved to North Carolina because of that one deal you talked about where I bought for 20,000 and sold for 64,000. Uh, North Carolina has a very strange rule. It's called an upset bid. So if you're in Virginia, you. You go to an auction and you're bidding against five other people, and you win the house in Virginia, that's your house in North Carolina, 101 counties. Each county has different rules. You have to go in person to to the clerk of the court to find the binder where you can do an upset bid. So I do this every like once every two weeks. I go to five different counties. So that day I don't take any meetings, but usually I have about 4 or 5 Zoom meetings a day. I do six different videos about the trust. You know, if you're a 1099 person, if you're doing capital gains, if you're doing rental income, you know, and I put on six different social media things, it's kind of a fun, fun time because I talk to people all over the country doing all kinds of stuff. This morning I talked to a gentleman out of Connecticut who is an IT professional making great money at 1099, but paying too much in taxes. And he's just like, help me, Help me, help me. And, uh, two weeks ago, I helped a 69 year old gentleman sell his 42 year old family restaurant, and we saved him $450,000.

[00:22:00] Wow, wow, wow.

[00:22:00] That's life.

[00:22:01] Changing. All right. Let me get this straight, though. You said you moved to North Carolina to go through that hassle of going to five counties every couple of weeks. Is that because that knocks out a lot of the riffraff?

[00:22:14] Correct. You know.

[00:22:15] Some of the counties might have the properties on their website, but you can't put the upset bid unless you go in person.

[00:22:21] Why is it called upset? What does that mean?

[00:22:24] Because I'm upsetting your bid. If you if you put a bid on a house for it's $10,000, I can go into the county courthouse and pay $10,750, and I've upset you. And now it's my bid. And the ten day window, either ten calendar days or ten business days now affect me. You're out of the picture.

[00:22:44] So after ten days, I mean, but if I could come back and do 11,000, then. Then it keeps going on and on.

[00:22:52] 750 on top of mind. Correct?

[00:22:54] Oh, it's 750 each. All right. So. All right. But let's say I go 12,000. Then what? And then it starts all over again.

[00:23:00] You've got the. The the clock's ticking for your ten days, either ten business days or ten calendar days. And then I. I have to check. They won't contact me. They won't send me a letter. I have to go back and check to see if someone's upset me and if I want to upset them again. I mean, it's it's kind of interesting. I stay out of Mecklenburg County where Charlotte is because they're a little bit people hide things. People are nasty. I go to some of the rural counties and they're the kindest, nicest people you can talk to. I, I love going to the county courthouse days. There are a lot of fun.

[00:23:35] They probably know you there by now, right?

[00:23:37] I guess I did it purposely, but I made them Christmas cookies and I took them to each of the Now they're like, Honey, here's a notebook. He doesn't need to look at it anymore. I'm like, Thank you. You know, I know who's who's has a birthday coming up. What's the anniversary? It's just you can't go in there and just do business. You have to go in there and socialize.

[00:23:57] Yeah, yeah, yeah. That's. That's pretty wild. That's for sure.

[00:24:02] It's.

[00:24:03] I would never have known known of this if the house that I worked on, it's in Nash County, which is about an hour east of Raleigh, the paralegal, you know, because I knew it went to auction August 28th, 2001. And I'm like, where's the money? And she's like, well, it's going through seven different upset bids. And it was two people bidding against it. I didn't get paid until I want to say December 20th, so I had money for Christmas. It was perfect. Oh, so.

[00:24:29] That was your house and everybody else was bidding on it?

[00:24:32] Correct. So I. I owned the house when it first went to auction. Um, it was a unfortunately, the woman had passed away. The house had been empty for almost four years by the time it went to auction. I mean, a nice brick house, the most ugly wallpaper you've ever seen in the kitchen. Think of old Baskin-Robbins pink and brown stripes and pink and brown polka dots. Yeah, I saw pictures of the house. I never went into the house. I'm like, That is so God awful, Ugly. It's almost pretty.

[00:25:03] So now have you done a course on this other than just selling the trusts? I mean, just what you told me.

[00:25:10] I am in a real estate group where we have classes, education classes. Like like going back to Garrett Gunderson. He teaches he teaches two classes in the real estate group. And I had heard of him before I joined my real estate group. But this upset bid, I just learned on my own because I had to go through it with my one property. Um, you know, I. Other people know about it, but it's kind of a well kept secret outside of the bigger, bigger cities in North Carolina.

[00:25:39] Well, I'm just.

[00:25:40] Saying, you can you know, this is my my field is digital and course marketing and stuff that you could make as much money just doing a course once and then just selling it over and over and over again.

[00:25:52] So. Exactly.

[00:25:54] That's what that's what I like. So so that's a typical day for you on you do that like a couple times a month you say.

[00:26:05] I try to do it every eight days in case someone's upset because I know there's a window of ten days for me. So I want to not make it too tight because if I have to get money from my bank account, you know, thank God I'm with a national bank. But some of these rural state, rural counties are very, very rural.

[00:26:25] So the money, it's not you just bidding. And then if you win the bid, you put the money in, you have to put the money in.

[00:26:32] When you're doing the upset bid. I should tell my secrets, but I'll tell them when you're doing the upset bid. You only have to put 5% down.

[00:26:39] Okay. All right.

[00:26:40] So when I. When I am told I'm the last upset bid, I have one right now in us. It's called Anson County. I have 45 days to pay the the everything off. Instead, I wholesale these places. You know, I've contacted. Right. I'll be honest. It took me three phone calls and I wholesaled it. Made a nice $12,000 on that deal.

[00:27:03] Yeah. And didn't have to do any fixing toilets, right?

[00:27:07] Exactly. Exactly.

[00:27:09] And, you know, the gentleman who I sold it to, he's just like how you find the deal? I'm like, not telling you.

[00:27:15] No.

[00:27:15] So said Tom. I tell you.

[00:27:17] Let me tell him.

[00:27:18] Yeah. Yeah, exactly.

[00:27:21] Well, that's. That's very cool. So. So what's the best way for people to learn about your trust and get in touch with you?

[00:27:31] I appreciate that. My website is the trust is you.com, you is Y-O-U. And then if you need to reach out to me by email, it's info info at the trust issue.com.

[00:27:45] Okay. You go ahead.

[00:27:47] I do a live Q&A every Monday night, 8 p.m. East Coast time. Uh, sometimes there's ten people on there. Sometimes there's two people.

[00:27:57] It's open to the public or they have to be in your real estate group.

[00:28:00] Nope. It's open to the public.

[00:28:01] Okay.

[00:28:03] My goal. I really do believe this. You know, I originally started doing the mastermind in my real estate group in Arizona, and when I had the falling out with the gentleman, I'm like, everyone needs to know this. You know, if I can help a 69 year old man in Kentucky, sell a family restaurant and save $450,000, I mean, I got a phone call from his wife last week. Happy tears going, I don't know who the gentleman who has that that show the, um, lottery dream homes. She's going to contact him because she wants a two bedroom condo in Florida. And she's going to they're only going to spend $450,000 for it. So we were laughing about it because her 28 year old son brought the TikTok video. You said you're on TikTok, but bought my TikTok video to his dad saying, I think we can save you some money if we do this.

[00:28:55] Awesome. Yeah, You wouldn't think TikTok would be a place you could find this kind of high level stuff.

[00:29:02] But my my.

[00:29:04] Second week on TikTok gentleman came to my Monday Night Live. Um, he he signed into the zoom with his TikTok handle and a bunch of numbers after his name. And he's like, put the contract in chat. And I'm like, okay. The law firm called me on Thursday going, Is Michael so-and-so your client? Like, don't know his name, you know? And he was selling two buildings, a two warehouses on Long Beach port. He's going to make over $6 million on that. Yikes. And then short term or long term, capital gains are 15% to 20%. One thing I want to let you know, Tom, so many people who don't know this, when you're selling a family business, like the gentleman selling the family restaurant or a nail salon or a car wash, the federal government is going to take 15 to 20% of your sale price to pay for capital gains. That's people aren't aware of that.

[00:29:54] Yikes. That's can be a lot. A lot of money can be life changing money. Yeah.

[00:30:00] Exactly. And he sold his restaurant March 15th so he wouldn't have to pay for that until April 15th of 2024. I mean, maybe he won't have any money left. Maybe he's going to go wild. Wild in Florida when they move down there.

[00:30:15] Yeah.

[00:30:16] Oh, boy. All right. So it's thetrustisyou.com info@thetrustisyou.com. And it's Sally Gimon. So thanks so much for coming on. Very enlightening, Sally.

[00:30:29] Thank you for having me. Tom. I try to be funny, but you're much funnier than I am.

[00:30:34] I'm well, yeah, but you're smarter than me.

[00:30:37] So I.

[00:30:37] Think I would go that far out.

[00:30:40] All right, everybody, we'll catch you on the next episode. See you later.