We have known Jim & Donna Klinge for over a dozen years, having met them in Carlsbad where our children went to the same school. As long time North County residents, it was a no- brainer for us to have the Klinges be our eyes and ears for San Diego real estate in general and North County in particular. As my military career caused our family to move all over the country and overseas to Asia, Europe and the Pacific, we trusted Jim and Donna to help keep our house in Carlsbad rented with reliable and respectful tenants for over 10 years.
Naturally, when the time came to sell our beloved Carlsbad home to pursue a rural lifestyle in retirement out of California, we could think of no better team to represent us than Jim and Donna. They immediately went to work to update our house built in 2004 to current-day standards and trends â in 2 short months they transformed it into a literal modern-day masterpiece. We trusted their judgement implicitly and followed 100% of their recommended changes. When our house finally came on the market, there was a blizzard of serious interest, we had multiple offers by the third day and it sold in just 5 days after a frenzied bidding war for 20% above our asking price! The investment we made in upgrades recommended by Jim and Donna yielded a 4-fold return, in the process setting a new high water mark for a house sold in our community.
In our view, there are no better real estate professionals in all of San Diego than Jim and Donna Klinge. Buying or selling, you must run and beg Jim and Donna Klinge to represent you! Our family will never forget Jim, Donna, and their whole team at Compass â we are forever grateful to them.
I read the MSM story earlier today and knew I’d recently seen the pics of that pad but couldn’t quite remember where, now I know… đ
She’s a hoot if taken in very small doses.
The “charitable organization” sounds like a front to avoid paying taxes on the sale.
“Charitable foundation” = Weill Family Foundation
And using the rules in place to avoid paying taxes to the government is bad how?
There are plenty of people who have that kind of money to spend freely, and that appears to be a prime lot. I’m not surprised at all that it sold quickly.
Clearfund:
If they get the benefits of its use, but pay nothing for its cost, the imputed benefit should normally be taxed.
For example, if my wholly-controlled “charitable organization” that is also a “non profit” offers me free and exclusive use of a penthouse in New York City… yeah, that’s crooked. I don’t get taxed on the value unless the IRS catches me.
Saying something is charitable does not make it so. I think that’s what’s being assumed here.
Chuck
Chuck Ponzi
Here…here!
Bending the tax rules seems to have become a national “sport” — agree completely with your take on this. Examples like this property and the financial “scheme” being used with it only give fuel to the OWS movement.
#6 & #7 – You are using the word “scheme” and slighting the owner of the property w/o a single shred of proof that he is doing anything even remotely close the your insinuations/accusations.
Nowhere did it say he had the unit in a personal charity and was using it for his benefit then trying to avoid taxes.
Focus on available facts, not your predetermined outcome of the facts to fit your desires.
#8
Take off your rose-colored glasses…there is no evidence that the penthouse was used for anything but a gain for the owner — with the added bonus of a tax dodge (of course, “using the rules in place…”).
Dear Clearfund,
Sorry, but I didn’t use “scheme” in my post, and I don’t agree with dd that this is what is happening here. There are plenty of abuses in finance, but there is no proof that this is one.
My apologies if I didn’t properly convey that I was trying to interpret what Peter and Francois had apparently joked about above. Sorry, the lighthearted voice doesn’t come through well on the internet.
I didn’t realize you would take it so seriously, and will refrain when in your company in the future.
Best wishes and kind regards,
Chuck
I wasn’t joking. I’ve become extremely suspicious of self-serving charities after I learned how they were used for the benefit of the owner-contributor.
Nothing says “hi class and expensive” more than an art deco naked lady statue.
MrBEE,
Don’t forget the “marble cahlumns”
http://www.hulu.com/watch/2347/saturday-night-live-mikes-marbleopolis
Low flat tax and no deductions. Nobody can escape that, and there is no bigotry towards the well off. Everyone is treated fairly.