Meeting summary for New Earth Living; Trust Law studies, Sundays 6:10 EST (06/15/2025)

Temple led a comprehensive discussion on using government documents and legal structures for business operations, focusing on revocable living trusts and IRS requirements. The meeting covered essential topics including trust management, proper documentation, and tax filing procedures, with emphasis on using universitytechnicians.com as a resource for accessing relevant information. Temple provided detailed instructions on setting up and managing trust accounts, sole proprietorships, and business operations within a corporate framework, while highlighting the importance of proper documentation and compliance with IRS guidelines.

Next steps

• Meeting Attendees: Create digital folders on desktop/phone to store all required trust-related documents

• Meeting Attendees: Download and complete Form W-9, checking "Trust" and using payee code 13

• Meeting Attendees: Set up dedicated business bank accounts under DBAs for both personal and trust operations

• Meeting Attendees: File DBAs for both personal name and trust name with state agencies

• Meeting Attendees: Set up TaxAct.com account for estates and trusts to file Form 1041

• Meeting Attendees: File Form 1099-B and Form 1099-OID for all bills and expenses through trust

• Meeting Attendees: Complete Schedule C to activate sole proprietorship status on personal tax returns

• Meeting Attendees: Request W-9 forms from all billers/creditors

• Meeting Attendees: Apply for $300,000 line of credit through trust entity once proper documentation is in place

• Meeting Attendees: Create Instagram accounts for trust business operations

Summary

Government Documents for Business Operations

Temple led a discussion on the use of government documents for business operations, focusing on revocable living trusts and the IRS. He introduced the website universitytechnicians.com as a resource for accessing relevant information and documents. Temple explained that the group's focus is on estates and trusts, and he outlined the curriculum for their weekly Sunday meetings. He also mentioned that the forum would soon be merged into a group page and emphasized the importance of utilizing proven strategies for business success.

Trust Digitization and Management Guide

Temple, a technician and instructor, emphasized the importance of digitizing trusts and businesses, focusing on helping participants understand and manage their trusts effectively. He explained that the curriculum, available through universitytechnicians.com, is designed to guide individuals out of the United States of America, Incorporated, and into the digital age, with a focus on building households and businesses. Temple outlined the requirements for trust management, including the need for specific documents such as a Treasury Direct Account, a Certificate of Live Birth, and various IRS forms, and stressed the importance of accuracy and review by the university technicians team. He also highlighted the necessity of mastering fiscal department forms and transferring securities into Treasury Direct Accounts, while noting that taxes must be filed before proceeding with these steps.

Business Trust Structure and Operations

Temple discussed the proper way to structure and operate a business using a revocable living trust, emphasizing that it should be the primary employer and that all transactions should flow through it. She clarified that newspaper advertisements for business transactions should run for two consecutive issues, not necessarily 30 days. Temple also explained the importance of operating as an unincorporated entity within a corporate framework, contrasting this with the common practice of using an LLC for liability protection.

US Financial Obligations Explained

Temple explained the obligations of the United States, including financial and legal responsibilities, using specific legal codes and government documents. They highlighted that the Secretary of Treasury is responsible for paying the public debt and issuing bonds, notes, or certificates of indebtedness in foreign currency. Temple emphasized that individuals are not directly obligated to pay these debts but are often made to believe they are, leading to confusion and financial burden. They also discussed various forms of currency and obligations tied to the United States, including banknotes, Federal Reserve notes, and stamps, and stressed the importance of understanding these obligations to avoid being unnecessarily burdened by debt.

Original Issue Discount Tax Guide

Temple led a detailed discussion on Publication 1212, explaining the concept of Original Issue Discount (OID) for debt instruments issued after 1984. She emphasized the importance of mastering forms like the 1099-B, 1099-INT, and 1099-OID, and introduced the 8949 form for tax filing. Temple also covered the definition of debt instruments, including bonds, mortgages, and notes, and highlighted key organizations like Federal Home Loan Banks and Federal Agricultural Mortgage Corporation. She concluded by outlining essential tax forms, including the 1040 individual return, 2848 power of attorney, 1041 trust/estate return, and Form 56, stressing their role in legitimate trust obligations and sole proprietorship.

W-9 and Tax Withholding Procedures

Temple explained the importance of correctly handling W-9 forms and tax withholding for debt instruments. He emphasized that when dealing with bills, one must request a W-9 from the payee, complete the form, and file the relevant 1099 forms (B and OID) as per IRS instructions. Temple stressed that the process should be done through a trust account and that the taxpayer identification number should be the EIN, not the Social Security number. He advised against using incorrect methods or software that deviate from IRS guidelines, as this could lead to issues with the IRS recognizing the process.

Trust Tax Filing Software Demo

Temple demonstrated how to file Form 1041, the U.S. Estate and Trust Income Tax Return, using taxact.com software. He explained that the IRS requires trusts to file this form to prove trust income and distributions, which is necessary for accessing business credit lines and treasury checks. Temple showed both online e-filing and traditional mail filing methods, emphasizing that proper filing is crucial for trust operations. He advised participants to use taxact.com's free trial to learn the software and master the filing process, which typically takes about two months of regular practice.

Trust Fund Management Best Practices

Temple explained the importance of setting up dedicated bank accounts and DBAs under a trust employer to keep personal and trust funds separate while maintaining compliance. He emphasized that trust funds should be cycled through business accounts to cover living expenses and that these accounts should be managed as sole proprietorships rather than corporate trusts to avoid unnecessary jurisdiction. Temple clarified that while lawyers may set up corporate trusts, this structure is not necessary for managing trust funds and can lead to complications.

Sole Proprietorship and Trust Fund Setup

Temple explained the process of establishing a sole proprietorship and a trust to access a $300,000 line of credit, emphasizing the importance of using business accounts and proper documentation. He discussed the need for DBAs, maintaining detailed records, and using trust entities for bill payments to build credit. Temple also covered the use of Form 982 and Form 1099-C for discharging debts and the importance of using tax software to correctly file returns. He encouraged participants to focus on activating their trust funds and avoid mixing personal and business finances.