Many real estate or business owners struggle with capital gains tax when they sell their assets. Brett Swarts is the CEO of Capital Gains Tax Solutions and every year equips hundreds of business professionals with the Deferred Sales Trust tool to help their high net worth clients solve capital gains tax deferral limitations. His company uses a deferred sales trust to help them gain tax deferral, liquidity, diversification (invest in stocks, bonds, and mutual funds) and freedom to buy investment real estate at their own timing, so they can create and preserve more wealth.
Entrepreneurial Role Models:
When business started difficulties overcame:
“the first one was just making enough to support the family. And so during the 08 crisis when the marketplace fell apart… I so I had to keep the expenses low and I had to fight fight against the tide of just going and just taking the safe route. But at the same time I had to be practical because I had a wife at home and our baby girl, our first daughter was born Ava. And so I decided to work nights and weekends. And so by day I was making calls and meeting with people and selling investment real estate and by night I was working at a restaurant as a server. And on weekends I was working that as well as basketball tournaments”…[Listen for More]
Favourite Books:
Also mentioned:
Favourite Quote:
- “integrity is never owned, it’s only rented, and the rent is due every day”
Also mentioned:
- “If you work hard on your job you can make a living, but if you work hard on yourself you’ll make a fortune.” Jim Rohn
Recommended Online Resources:
- Loom – Free Screen & Video Recording Software. Easy and free screen recorder for Mac, Windows, and Chromebooks Record your camera and screen with audio directly from your Chrome browser and share the video with your team, friends, and family
- Chris Ducker – Helping Entrepreneurs Become More Productive & Profitable
Best Advice to Other Entrepreneurs:
“higher the who, don’t be the how…. You have really got to focus on what your vision is and who is going to help you to achieve that vision and get there the fastest way and the most profitable way and what’s best for the customer. And that often means you got to hire that person, you’ve got to write the cheque, you’ve got to bring the team member on, you’ve got to do the coaching and you’ve got to do the delegation. But you’ve really got to hire that who instead of trying to be the how yourself and getting stuck in the procrastination mode”…[Listen for More]
More About Brett Swarts:
Neil’s Quote at the Beginning:
“People who are crazy enough to think they can change the world, are the ones who do.” Rob Siltanen
Other Quotes From the Chat with Brett Swarts:
- “I think the biggest thing would be focusing on delegating and scaling sooner”
- “some practical tips would be hiring a virtual assistant or an assistant it doesn’t have to be virtual or team member who can be focused on the task that can free up your time and your energy. Even if you enjoy doing those creative tasks or if you enjoy doing certain things that’s not the point it’s about the business and its stepping out of your own way and saying hey even if I enjoy these tasks is not the highest and best use of our time and energy to grow the business. And so getting out of your own way, hiring the virtual assistant, hiring the assistant to do the tasks that are going to free up your time and energy to be the highest and best use of yourself to the company”
- “learning to work harder on yourself than you do on your job”
- “this idea single-handedly change the way I approached life. I wish I had learned earlier in high school or junior high. We are taught to work hard and get a good grade or work hard at getting that promotion or work hard at getting that degree or work hard at closing that deal. Whatever it is, it is the external stuff. But really what the most important part is the internal, the internal development of your personality, of your character, of your leadership, of your spiritual walk. And when you work harder on yourself and you practice the habit of doing those things you are going to become a better person. When you become a better person, you become more valuable and then all of those other things will come into place. So really focusing on doing just that. Work harder on yourself than you do on your job”
- “being humble, hungry and smart”
- “our part of something bigger than ourselves”
- “all of this stuff is never owned it’s only rented and so today is the day to take action to make sure that you are not getting stagnant in the goals that you have set for yourself and in the habits and the practices you have developed over the years or over the decades. Don’t take the granted what you have today rent is due”
- “the world is changing rapidly and communication is best face to face but the second best is over video conferences”
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