How To (LEGALLY) Never Pay Taxes - Do This Today
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- Опубліковано 28 тра 2024
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This Video: • How To (LEGALLY) Never...
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Video host: Jaspreet Singh
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*Please note, if you do use this tax firm, Jaspreet will be compensated. There's no additional cost to you.
WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS!
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I get the concept that you don’t pay taxes on your loans, but most banks will require you to make monthly payments on them. If you have no income, how do you do that?
@@dangeles95 I was wondering the same thing.
@@dangeles95 same. That’s the missing piece for me too
If all ultra wealthy folks were to pay their fair share in taxes, the world would be a better place.
You’re basically promoting greed, which leads children to starving to death.
@@dangeles95 you pay it back with the same money you borrow so some you use to live and some you're using to pay back loan if that makes sense.
Every family has that one person who will break the family financial struggle, I hope you become the one💯
That's why we need to plan ourselves making extras in all we do because depending on paycheck that can give us our comfort and peace till we die is not guaranteed
I'm a nurse and I saw all this coming, so I've planned myself so I engaged in forex trading, little I know about the business though but so far so good, Forex trading has been my very means of savings lately while my salary goes for bills and utilities
Same here, my portfolio has been going down the drain while I try trading, I just don't know what I do wrong, have invested $18k into crypto all I have now is just $5365
The truth is that you need an expert broker and account manager to make good profit from cryptocurrency trading and holding
I'm not here to converse for her but to testify just for what I'm sure of, she's trust worthy and best option ever seen, She has made success easier than we thought
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
" It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid , instead of trying to be very intelligent."
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
Trading under the guidance of an expert is the best strategy for beginners.
FINALLY!! Someone has explained to me how millionaires dont pay tax and still live! I have asked so many accountants and self named tax experts who couldnt answer the question and just told me to earn less!!! Amazing advice thank you
They pay more in a year then you’ll pay in your life. Fair?
IF the politicians wanted the tax code changed, it would be changed. They do NOT want it changed because they don't pay taxes, either.
It's up to us to capitalize.. we plan our future independently, and our financial plan is not excluded. We are all aware of the prince of the world , but we can not just assume ourselves to be F+_! ., Financially. The works of evil effect us all, and must be resisted,like never before. My apologies, I have been near myself, changing... And it's my responsibility to educate myself, to be involved in my own political system and all that matters to me.
Thank you for the video
Verrrrrry True
Taxing people’s paychecks is unconstitutional. So the common folk is taxed not only on their paycheck, but then they go to the store and taxed again on their purchases in store.
no its not. you need to actually read the constitution its under the 16th amendment.
The 16th amendment The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.
And FiCa and property taxes !! And thats the worst cuz its now thousands a year usually instead of hundreds like it used to be..plus from the net pay u get u pay texes on capital gains again!!! So only way is creating passive income a 18 wheeler ,ahouse etc...
@@vestedinterest5655 it was supposed to be a temp tax also...you know that right?
@@workingshlub8861 paying for the defense of the United States was never intended to be temporary it was written into the Articles of the constitution. When the 16th Amendment was initiated to specifically tax wages it was stated they would revisit that need after the war. The problem being the United States has been at a perpetual state of war ever since. I've read you comments, it's not me who is wrong, I can point you to directly where it is stated in our Constitution it's not my opinion it's clearly written for anyone with the ability to read and understand to do so. People can have whatever opinion they want about it, it does not change what was, is and remains written in the constitution. You either believe in our constitution or you don't. Opinions are not facts!
Taxation without representation is unconstitutional
How to tell when you're living in a corrupted society. When you have to find (Legal) ways to not pay (Illegal) taxes.
Absolutely agree with your comment. Our government make it a law to make us pay them money legally in every corner!!
how to tell that there will never be a completely corrupt free society. When humans are apart of them.
@@nganguyen-id7pp and the more people push for taxing the rich the more the middle and lower class get punished.
This is total horse shit. Our tax system isn't corrupt. It is "progressive", meaning the more you make, the more you pay. The upper 50% bear the ENTIRE tax burden for our county. All this gentleman is illustrating in this video is a series of tax breaks/deductions that are available to everyone in our country. Tax breaks exist to influence the public's behavior. The government wants us to do certain things, such as own our own home, buy stocks and hold them for the long term, start a business, buy certain assets, etc. All of these things boost our country's economy, which is good for all, so the tax breaks are deserved rewards. Also worth mentioning: there were many details left out of this video... small things which restrict these strategies to some degree, and/or pose taxes he didn't mention. There is no free lunch. Some strings are attached. However, they're all good ideas which anyone is free to take advantage of.
Taxes are a convenient way to pay for things we collectively (well most of us atleast) needs.
This is what I call "don't hate, participate!!" Great information!
You need to be teaching high school seniors!
There was a financial class I could've taken, but for some ridiculous reason it was considered an elective, so I ignored it thinking pre-calculus (something I never used again) was more important... This stuff is extremely important! I'm nearing my mid-twenties, and I barely know how checkbooks work!
I've used 2 tax accountants in my life - both highly recommended by friends and family. Sadly, NEITHER were as thorough as I am with deductions, and both had to fix the return to claim legit deductions. And there was no excuse for overlooking these as I'd given them the supporting documentation upfront, and these weren't oddball types of deductions.
My point... don't blindly trust professionals to be good at their jobs. 😔
At this point it seems like we have to do everything ourselves even millionaries get fucked over for their money when dealing with accountants and stuff.
"I'm an attorney, I'm not YOUR attorney..." This actually made me laugh out loud! 😂 Thank you for your videos, Jaspreet. They are helping me make more informed decisions.
You still have to pay taxes every year on your home which is property tax. unless you. Sell your house every two years which is not fun to do every two years
@@chuckkremm5791 depends what you do at your home sayid you had a farm and raising a crop that the us government supports right now you get tax brakes but yes you have to pay something I’m sure I’m not a attorney.
😂😂😂
He is so freaking cool man
We pay taxes on everything we buy, every service we engage, if we own property we pay taxes. They have us locked in.
Exactly 😢
I had to stop and re-watch this video about 100 times. You open my eyes. Thank you... I am learning and paying attention. This is the last year I will claim taxes while broke!!!!
I came here expecting garbage and what I learned was digital gold. I've spent years watching hundreds of hours of videos that might teach bits and pieces of the principles of this video, but this one actually puts them all together in a wonderful fashion. This is truly a powerful video!
BORROWING against an asset and bragging that you don't have to pay taxes on it yet you STILL have to PAY INTEREST smdh
@@joelcherestal8316Clearly you didn't pay attention to this video. Elon takes a collateral loan against his Tesla stock. He doesn't pay it back. The lender takes their collateral and sells it (Tesla Stock). How much is Elon paying in interest? Nothing. Zip. Nada. None. Now of course lenders are going to make their collaterals pricey sure, but when you are playing with millions of dollars a lender taking 25% of your money is better than the government taking 50% of your money. Do you understand now?
You have to participate in the system - to collect Social Security from the system.
@@murrayspiffy2815 you think social security is gonna pay you anything compared to all the money you're gonna save over the years in taxes not paying into it? Should we actually trust politicians won't steal our social security income as they have already threatened to do multiple times? How you gonna get paid if social security goes bankrupt. There will always be more financial security in owning assets vs depending on a government to do its job correctly.
@@gorgeousnoxy481 im talking about in the case of borrowing against your house because it appreciated. you have to pay interest on that LOAN
My concern is that my portfolio is struggling, and I'm uncertain about how a retirement strategy would be beneficial in this situation. Achieving a million tax-free sounds like a dream, especially considering the fluctuations in my stock portfolio around the same point.
It involves maximizing your contributions to a Roth IRA and taking advantage of certain tax benefits. but in order to execute such strategy , It’s best you consult with an expert advis0r
I might look into this strategy to see if it aligns with my financial goals. I could really use the expertise of this advsors.
This reference seems valid.. Just looked up her name on my browser and found her webpage. over 10 years of experience is certainly striking! very much appreciate this
Stocks are a very passive way to make money. Almost no one gets rich from the market. You need to own an asset you direcrly own and control, and make it worth more. That is how all real money is made.
Please pay attention that if you declare losses on your real estate due to depreciation ( as explained at 20:10 ) and you later decide to sell that same property, you will be required to pay capital gains tax on the amount you deducted. This is called depreciation recapture. So you still have to pay those taxes, they are just deferred. And you can deferr them even more with a 1031 exchange.
Also, there are strict requirements to qualify for a 1031 exchange, you cannot simply pick the property you want. It has to have a determined number of units, size, price and more. But it is possible
Making money is not the same as keeping it there is a reason why investments aren't well taught in schools, the examples you gave are well stationed, the market crisis gave me my first millions, people shy away from hard times, I embrace them..
This is superb! information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor ?
..
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor.
@@wardtyson8247 Having monitored my portfolio performance which has made a jaw dropping $473k from just the past two quarters alone, I have learned why experienced traders make enormous returns from the seemingly unknown market. I must say it's the boldest decision I've taken since recently
This maybe a dumb question, if you borrow money you still have to pay back & if you have no income how do you do that? Borrow more? 😮
@@kunamoyaafrica7827 i have the same question
You are literally blowing my mind with this video. I went from running the corporate hamster wheel to venturing out on my own as an Independent contractor and trying to grow some small business ventures. As a single mom most would think I've lost my mind and a time or two I questioned that myself. When you said the rich know how to make money and KEEP money, that was the bull's-eye epiphany for me 🎯. I have always been good at making money but not necessarily keeping it but I feel like with resources like your own, I'm about to get on top of that too and REALLY change the game. Thank you for this invaluable info and inspo! 🙏🏾💛
Same here. Stay strong 💪🏿
Smartest guy around
goals
@@richardmingo3470 🤡
What were you doing with all your money?
These 7 ways to not pay taxes work ONLY for business owners however, not showing income WILL BACKFIRE when you need to barrow because banks won't lend money to those businesses with no profit/income to show.
Lenders care more about revenue growth than showing profits.
Sigh always about rich people, all rich people were just like you at tone point in your life, they just made a change. They didn't say I'm not going to Pay Taxes so I am going to be Rich. The problem with all of these thoughts is they force you into an Us vs Them. I pay taxes as a business owner, its not bad to help the place you live in, sure its good to be a rebel but the reason Trump said such dumb stuff is because he knows that W2 earners can't avoid this.
Rob the accountant tells everyone and anyone, ANY fool who starts or does something based on a tax is utterly non-sensical. The reality is for MOST business there does comes a point where taking a Paycheck is Pointless but it COST u elsewhere, that's what they don't tell you, there is NO SAVINGS people only re-direction.
To ostracize and signal out OTHERs for WHAT YOU have the same ability to GET2 is simply dumb.
Mister counsel, is it not time to abolish the tax court? The supremes have been moving to quash why not also the Tax court, folks ought not have to navigate 2 legal systems, wouldn't you agree?
@@herpderp66 you are right! That is the question on loan applications, how much revenue did you make in the last 2 years.
Thank you so much for making this particular video. I've been wanting clarity on this subject for years, and you've hit it out of the park. Great job!!!
I’ve been listening to your vids and love them. What’s a real crying shame is that we have to jump through so many hoops and bounds to try and really build wealth. But thanks to people like you, at least us common folk have somewhat of a chance lol. Thanks man, keep em coming.
Me and my wife love your videos, you have really been helpful in showing us different techniques to create wealth and using your techniques has actually made our marriage so much stronger. You are my hero. My goal is to one day get a picture with Jaspreet Singh and frame it on my wall, not even making that up, I truly want to do that one day. You are one of those few people I have the utmost respect for.
Wow I love that. Thank you so much for your support!! 🥑
I can't imagine how many marriages this wonderful Angel has saved honestly.
Jas I love that you have found your purpose early on in life and you're impacting all of us globally on such a massive scale, keep it up! 👏🏼👏🏼👏🏼
Sending much love and light your way!🌠♥️
I wanna know that is this work in India also
'cause we get tax even when we provide housing
Sir clear my doubt
He charges 10% on your investments for a pic 🤷♂️, the hustle is real
👏👏👏👏👏 ❤❤❤
Thank you so much for explaining things in an easy to understand format as I had struggled to understand debt and how to borrow in that before this video and just ask the beautiful knowledge you bring to light here. This is one of your best videos
Good work you are doing sir! Thanks for looking out for the small guys and giving us a positive outlook and plan for our future!
thank you so much for explaining so well on these concepts which seemed so confusing to me for so long. I a
m really grateful
Your videos are so helpful in creating financial independence! Thanks Jaspreet ! We need to help grow your channel!!
That was an eye opener, particularly about accountants. I need to do that.
THANK YOU! Valuable information.
This is great! Been looking for a video like this for ages.. thanks man
Thank you kindly. I appreciate the way you Calmly & Clearly explain these basics without complicating it. I'm so grateful 🙏 to you 💓
You forgot contributing to an IRA, HSA and charity. Those give tax deductions too.
Jaspreet, I have to say that you've been a good public speaker and educator as long as I've followed your videos, but you continue to improve.
Thank you for providing a lot of valueable information.its really helps me
In order to take advantage of any of this you have to complicate your life, live on margin, and take on stuff that legitimately puts you at risk. For every one guy that succeeds in implementing some of these things, there's a thousand standing behind them with their pockets pulled inside out. Taxes are a part of life. Unless you have a lot of time and a good accountant be very careful with tax games. For the vast majority of people, life is too short for an audit. Becoming financially free a lot easier than this...
Yeah, stuff like this reminds of that Gandhi quote
We have enough for everyone's need, but not enough for everyone's greed
People like Robert Kyosaki, it's like he thinks this country operates on a bunch of high school dropouts who all started successful businesses with zero employees and a bunch of customers who are stupid enough to have a job. It's like a fantasy world of no obligation and no responsibility to anyone else, all there is is money. Money, money, and more money, until you're dead and now your heirs have that money. It's very.... empty to listen to
But I like learning objectively, so I watch the videos
You hit a Home Run with this video. You break it down to the point that it starts to make sense
Yeah, this was a good introduction to the whole taxes savings concept. Good job Jaspreet. But, this doesn't just apply to the rich in the United States. Most Americans can participate as well. The more you look into this topic, the more you realize just how many avenues there are to minimize taxes in the US. I actually did a video on this very topic that might give you even more ideas and help you out.
You want to never pay taxes in the U.S.? Just be an illegal immigrant. That's all you gotta do.
This is why the CA legislators forced Uber to hire the drivers as employees. The drivers were deducting all their expenses from their earning and paying no taxes but as employees they pay taxes on their wages
Id recommend entrusting your money to a nigerian prince instead. Risk free way to make more poverty
This video is gold thank you!! Subscribed
God bless you brother for your so informative video! Thanks a lot! 🙂
It's crazy how I've been watching you for what I'm pretty sure is a few years now and this is the first time that I'm listening and I actually FULLY COMPREHEND EVERYTHING you're discussing. That just opened my mind, BIG TIME, I was stressing that I'll have to sell my investments for a huge loss just to stay afloat but now I know I can just take a loan and use it as collateral and my investments stay untouched and continue to grow. Thank you!
This was a really informative easy to understand explanation of how these tax breaks work , thank you !
super informative! thank you. Please record more videos on the topic!
Thanks for all the advice.
Chat me up ☝️☝️☝️☝️
I've been watching youtubes and reading books on building wealth for a few years now, and this video taught me more than what I had learned in the past 3 years. Under-rated content. I'm so glad I found you.
What's up man. Ayo look, im 15 and wanted to get the jump of what to get myself into when i get older and this helped alot. I like watching financial videos. And things like this makes me determined to go deeper in this subject. Love it man 💜
If you want to make a lot of money quit describing yourself as a color and try using your brain for things that make money. That crap is a detractor not an attractor.
This was an instructive video for people that don't know anything about investing or how money is taxed. Most beginning investors, however, know most of this video. Pay urself and not the government is a good rule to follow. Just make sure you follow all the government's rules during that process. U dont want the IRS a part of ur life.
❤ that was a great video very understandable and basic wish I knew this decades ago but it's never too late thank you very much for that video and the ones coming😊
Also, the Federal Reserve central banking system has been deemed unconstitutional twice, as it was said it creates debt slaves. ~$30,000,000,000,000, at the moment.
The 16th Amendment is meant to pay the interest on that debt.
Thats a fictional number nothings really in debt except the polluted air we breathe and the dirty water we drink !! Other than that no one owns the earth!! Get real folks wake up!! There is no Debt
@@chris-cy5ed you should watch more of these videos
Yeah, business deductions. Make sure you have records or receipts of your expenditures. I mean if you get audited and you deducted that new computer for your business, just make sure that you didn't improperly deduct, on the 1080 they ask you if it was businesses only or personal, if it was both, say what percent, so just keep that in mind when doing taxes...
Thank you for making sure a fun and educational video!
Excellent info!👏🏾👏🏾👏🏾
Not only do I donate to the US government, I also claim as income any loose change I find in the street.
Thank you Jaspret you threw so many gems out in this video it was AMAZING!! THANK YOU 😊!!
I saw this months ago and now a second time and it made way more sense now. I now have two options with what I have. Thanks.
Great helpful interesting. Thank you so much🙏
Thank you! I have learned so much from you regarding my taxes than I have from my CPA of nine years. He is fired after this video. I will be finding a more qualified CPA.
I'm saving this video. So much game here.
Could you make a follow-on video about finding accountant/tax professional? Things to look for in a professional, scams to avoid... I have no idea what to look for to get this kind of support.
Im glad i ran into this video. Thank you so much🤗
I just love this guy! Keep those coming❤
Becoming/ being Financially astute places one in the least common minority.
Great video!
Kya baat ha pa Ji. Helping people with your knowledge. Thank you for educating people….. Best part that affected me , I was paying taxes on capital gain below $40,000. I was doing my own taxes….Screwing my self. I need to hire tax professional to audit my returns…..
The best! Thank you
Thanks mate. Knowledge is Power.
I've probably already left a comment on here because I've watched it several time in order to fully grasp it.
The whiteboard helps me tremendously. I learn better visually and you talk extremely fast : )
That being said, your videos are some of my favorites. Tons of good info regarding things I want to learn.
One thing I've learned to do for fast videos is to click on the video settings, and then choose the speed that suits me. Hope this helps, as it did me.
@@UseYourBrain. I do the same... it works great for fast talkers. 👍
Thank for your great content. Appreciate all the hard work you put into these videos. Keep it going!!
This is invaluable information…thank u
This was so so good. Thank you brother!
Thank you Jas..I look forward to learning from your videos.
My parents did not teach me about finances. We need people like you !!
💜💜💜💜💜
Love this guy. His positive advise is priceless
So much knowledge thanks for goid content.
*good
Thumbs up and subscribed at 1:44secs! I had to pause for the cause, grab my notepad and the popcorn---this is gonna be good---I already know! Thanks Singh!
Great vid, thank you. My experience don’t buy bigger houses, sell the 400k house and go further out and buy 4x100k houses. A 100k house will get $250 rent x4 $1000, a $400k house will only get $400 ish rent and if the market or economy crashes then the lower value houses are easier to rent or sell.
Chat me up ☝️☝️☝️☝️
Hell, a 40k house I bought in 08, rents for $1,500 each month, every month until I die.
But how does Elon Musk pay those debts back without selling stock that will be recognized as earning income?
Great video, very informative. Thanks
A true masterpiece your video. Not even in college I learned so much like you did it now
Okay, using debt tax free is common , but what does the money come from each month when paying down the debt? Ex.- Elon Musks repayment of debt must come from somewhere. He needs to withdraw the funds for repaying the debt. THEREFORE I find it hard to believe he is not taxed at all on his funds.
the working class communists pay the debt. like robert kiosaki told you hes a debtor hes not paying for anything and neither are people like him but they will gladly let you commnists do it. By stock in tesla, elon sells his stock, takes your money and pays back the loans hes taken out. Its nothing more than a transfer of debt onto you working class communists. rotflmfao aint the rich great
Man, oh man, I really do need a good CPA!!! Thanks for this amazing analysis on using the tax code to our advantage! 💕
You people really need to study some basic law. You used a vital word here called code tax code. Codes statutes policies and rules are not lawful they were not handed down to us by God which is the supreme law of the land, common-law. Codes are not laws that go against the Constitution therefore there was called repugnant and anything that is repugnant to the Constitution is null and void. Taxes are not lawful they are not legal
@@Habanero777 Taxes are legal because they are not just tax codes, but part of the US code.
She was cold as ice!!!! Helped open me up!
Please help me with sciatica pain in my right leg and hip!
Great video. Thank you !!!!
Me and my wife love listening to you. You are so knowledgeable. Like a computer of information. Lol
Straight to the point no bs … giving value with no shame love it bro keep it up. I subbed
🙏🙏
Wow 😮 superb work on this! Awesome 🙏🏻
Awesome video keep them coming! I’ve been waiting for a text video for a while.
Great video! Question regarding strategic debt: how does one pay back the loan in a way that's tax effective? I imagine it needs to be paid back in cash over time, which would require either liquidating assets (and paying tax) or have another form of income (that's also taxed)?
You can't, so it only works if you're willing to die with a lot of debt. There are ways to mitigate this though so that your offspring isn't screwed. So yeah, this strategy in principle only defers taxes. It doesn't avoid them.
@@Witchblade112 true but the point is that (assuming your investments down fall off) the compounding effect of not stripping tax allows a much higher IRR over the life, so yes you pay larger taxes at the end but the cumulative sum of money that you net is way higher than Paying as you go. It is pretty sad how unfair it is for those that do not have access to these strategies
It's been my experience that you may not have to pay any money, but you still have to file to show them why. I'm an independent contractor, write off my mileage, and pay into social security, of which I'll probably see nothing later.
Great video Jaspreet. The whole living off debt thing and the real estate explanation were fantastic. Mind was officially blown.
Hi Jaspreet, thank you for this valuable information. I just learining about money and find this facinating. Thank you, have a great year ahead, Kieron
I would like a uk version of this
Chat me up ☝️☝️☝️
Canada too
Jaspreet is a national treasure. He should get an Award.
really? this country doesnt operate on rainbows and sunshine. we all have a resposibility.
@@dankilgour9613 did you know taxes only make up 5% of revenue. The rest is printing press
He should get a lifetime tax break
No he’s not. He’s a fool
Thanks for not bullshiting. This was actually really good quality information. My guy 👊
This is such a great video! Thanks
Man am I glad I subscribed to this channel
This is a perfect video to show young adults who are looking to be financially responsible and independent. Thank you for this!
Young and old
Thankyou for a crystal clear explanation,much love 😮😮😮❤❤❤
Awesome information. Thank you my good Sir!
This is an awesome video, I know many folk I’m going to share it with that really need to hear such things.
This video shows why Americans have the potential to become extremely wealthy. Your tax laws are great! I only wished we have some of these great loopholes (like 1031 exchange) up here in Canada.
@@jtowensbyiii6018 what's not true about what he said?
@@zmdoor take note he said you need to know what you are doing, this applies to every country there’s always a loophole in the system, but it’s not easy, he makes it sound easy but it’s not.
Those tax loopholes prevent us from having good social safety nets, healthcare, education funding, rebuilding our roads and bridges.
lmao so wrong, it’s not the money it’s the people
@@herpderp66 No, misuse and misappropriation of taxes prevents that. It's the bloat in the government, not a lack of taxation.
super good info, thanks for the vid!
That is an incredible amount of good info, thank you!
Thank you, I own my house, and it’s worth around 180,000 and I still owe 43,000 on it. I been paying a lot towards the principle every month in order to pay the mortgage off quicker. This video helped a lot and now thinking of refinancing and purchase another house 👍🏽
Just remember that the house you almost own will now go up in value which will make your payment on it more. So the house you buy with the investment money should at least bring in enough income to pay the investment property mortgage plus atleast the difference in the existing refinanced mortgage.
One question about the last advice (avoid real estate sale property tax): If I do that (sell a home, buy a bigger one, rinse and repeat), until I get to a $1M house, can I then move into that house as my primary residence, and avoid taxes for it? And what if I move there for 5 years, then sell it?
"And what if I move there for 5 years, then sell it?"
Then there would be Capital Gains taxes (unless you buy another house in a 1031 exchange)
Correction: there is now zero Capital Gains taxes on a primary residence.
@@rodschmidt8952
Noice! Thanks.
Thank you Jaspreet! Keep up the informative videos. Great work in explanations in this video. Top Notch UA-camr you are. 🤜💥🤛 Fist Bump to you Jaspreet.