Question:
Dear Steve,
I am 61 years old and have an LLC with my son.
We have started to buy real estate at tax deed auctions.
By this, I want to give my children a good start for their financial future.
Being over 60 years old, according to Michael S. Hawes, I wouldn’t have to pay tax on the profits.
To make that possible, he can supply a QRP.
I have read the reports on Sean Higgins.
Michael S Hawes is also mentioned.
He offers a Qualified Retirement Plan.
Can you tell me if this is legal or also a scam?
Thanks, Ron
Answer:
Dear Ron,
You question is light years out of my area of expertise. I am neither a real estate attorney nor a tax professional.
The logical course of action would be for you to get a second opinion from a licensed tax professional in your area.
I am curious why you would bring up Sean Higgins. Are you doing something with Higgins in conjunction with the tax lien purchases? You can read what I have written about Saen Higgins if you click here.
And it appears he still is, according to recent complaints.
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