Mark, I just want to say thank you for everything that you do. I just passed my enrolled agent exam and studying for the CPA exam now. I got my first two tax clients for my business and I’m pumped. You’ve taught me a lot since I came across your channel and helped me view taxes from a different perspective. Keep being awesome 🤙
Everyone can fumble through tax filing, but it is the tax strategy that matter most and this video is just that. I sweat to get my taxes done and done right by April 15 and it is very stressful. Also after filing, I dread opening any letter from the IRS fearing an audit. This video gives me breathing room for both i.e. reduce the chance of an audit, and having more time to do my taxes right while using my capital efficiently instead of fearing the charge for delaying paying the taxes.
My biggest concern is with the pending financial collapse which will occur …factually…do we really want to invest in Ira’s of any kind…banks are bankrupt and it seems this house of cards is about to tumble….can you discuss in a podcast why…in this environment….we can trust using an ira as a vehicle when it could all be taken….
I believe you answered your own question. Why put money into an asset you believe will lose value? Doesn't make sense to me...Unless you are you are using it in a Roth IRA to invest in something other than the stock market.
I marked no on my tax return that I bought cryto in 2020 and going to report this year I did, what can I be dealing with? Let's be honest, which i wasn't, how many people are honest towards the ira?
as a sole prop i've always filed extensions--btw--to be clear solo 401k (roth) and SEP IRAs contributions can be made until the actual return is filed.
We have a solprop salon and are trying to start a book store. We are collecting goods and furniture for startup. Can we build a shed at our house and and rent storage space to the Salon or the DBA bookstore?
Did my taxes on Turbo Tax. I have very high Capital Gains (CG) from a stock that the company was sold and they rendered a cash full payout 2021. Not my choice but now big CG tax. I have no wages, so can't do a IRA, no real business. I know I'm late to the game but is there anything I can do to reduce CG? I will pay now and extend tax filing to figure something out.
LOVE YOU ;)! So the more expenses we find to reduce taxable income - doesn't that reduce the income that banks use to determine qualification to buy a rental property? Don't they look at net/taxable income? are banks looking at net income / taxable income?
What is the best time of the year to schedule a time with you. I'm open to any time because I'm interested in tax planning, for the next year or the following. I want to get the best information not the rushed version - which I assume we are all are going through this week lol
I had a hard time listening to this to the end. You guys make being an American a real chore. I understand you make money on the convoluted nature of the tax code but please. Even the IRS can't agree on the law and my experience is that an accountant plays on the safe side so pay a little more for a buffer. Your advice on extensions is good but most people don't want to look at the forms for six months. It does become an issue when you change a years tax and how that effects the preceding years. The IRS moves slowly. People just do the best you can. That is not against the law.
Mark, I just want to say thank you for everything that you do. I just passed my enrolled agent exam and studying for the CPA exam now. I got my first two tax clients for my business and I’m pumped. You’ve taught me a lot since I came across your channel and helped me view taxes from a different perspective. Keep being awesome 🤙
Everyone can fumble through tax filing, but it is the tax strategy that matter most and this video is just that. I sweat to get my taxes done and done right by April 15 and it is very stressful. Also after filing, I dread opening any letter from the IRS fearing an audit. This video gives me breathing room for both i.e. reduce the chance of an audit, and having more time to do my taxes right while using my capital efficiently instead of fearing the charge for delaying paying the taxes.
My biggest concern is with the pending financial collapse which will occur …factually…do we really want to invest in Ira’s of any kind…banks are bankrupt and it seems this house of cards is about to tumble….can you discuss in a podcast why…in this environment….we can trust using an ira as a vehicle when it could all be taken….
I believe you answered your own question. Why put money into an asset you believe will lose value? Doesn't make sense to me...Unless you are you are using it in a Roth IRA to invest in something other than the stock market.
I marked no on my tax return that I bought cryto in 2020 and going to report this year I did, what can I be dealing with? Let's be honest, which i wasn't, how many people are honest towards the ira?
as a sole prop i've always filed extensions--btw--to be clear solo 401k (roth) and SEP IRAs contributions can be made until the actual return is filed.
We have a solprop salon and are trying to start a book store. We are collecting goods and furniture for startup. Can we build a shed at our house and and rent storage space to the Salon or the DBA bookstore?
Thank you both….nothing like you two!
Love the content!!!
The mic setup was a little to hot for earphones though.
You guys are great. I'll be going to be going to the dinner table fashionably late now.
Is it not better to have IUL(index universal life insurance) then IRA..?!
Did my taxes on Turbo Tax. I have very high Capital Gains (CG) from a stock that the company was sold and they rendered a cash full payout 2021. Not my choice but now big CG tax. I have no wages, so can't do a IRA, no real business. I know I'm late to the game but is there anything I can do to reduce CG? I will pay now and extend tax filing to figure something out.
Incredible video!!! Thank you!!
I am trying to order the book, but the website link isn’t letting me open the page
Trying Amazon
Thanks for making great video
LOVE YOU ;)! So the more expenses we find to reduce taxable income - doesn't that reduce the income that banks use to determine qualification to buy a rental property? Don't they look at net/taxable income? are banks looking at net income / taxable income?
Mark, cannot find the podcast you mentioned about “self rental” … can you post the link to it in the description box or post it somewhere?
What is the best time of the year to schedule a time with you. I'm open to any time because I'm interested in tax planning, for the next year or the following. I want to get the best information not the rushed version - which I assume we are all are going through this week lol
How do I get a extension. Thanks in advance.
If you have a CPA, they will do it for you. My CPA does mine automatically if I haven't filed
Who should you all include in building a Dream Team?
Is this Live??
Pay Less Taxes but Pay Fees and Penalties
I searched for how much to pay with tax extension and didn't find anything relevant.
How can I contact you to sign up for assistance
Even if it’s just a plain old non-business filing husband-wife boring old return?
Real Estate is not going anywhere ... but it can be taken away from you.
We wish we can make an appointment with you someday.
I requested since we became clients with your company but you are not taking any new clients.
YIPPEEEE!!!
⭐️⭐️⭐️⭐️⭐️⭐️
I had a hard time listening to this to the end. You guys make being an American a real chore. I understand you make money on the convoluted nature of the tax code but please. Even the IRS can't agree on the law and my experience is that an accountant plays on the safe side so pay a little more for a buffer. Your advice on extensions is good but most people don't want to look at the forms for six months. It does become an issue when you change a years tax and how that effects the preceding years. The IRS moves slowly. People just do the best you can. That is not against the law.
Disagree.
@@walterski8377 I brought up so many issues I'm sure it was easy to disagree on something.
Thanks to our tax code being an American is a real chore, especially if you own your own business, are self employed, etc ...