How To Avoid Paying Taxes...Legally

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  • Опубліковано 21 бер 2023
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КОМЕНТАРІ • 291

  • @deathbyvanity1955
    @deathbyvanity1955 Рік тому +1578

    Don't hate the player, hate the game

    • @treek10k
      @treek10k 11 місяців тому +18

      Jesus Christ died for your sins on the cross. Repent and believe in him or you will be separated from God The Father for all eternity and face hell forever, for all eternity, never ending.

    • @deathbyvanity1955
      @deathbyvanity1955 11 місяців тому +6

      @@treek10k all hail greninja, amen

    • @EnergyWRLD
      @EnergyWRLD 11 місяців тому +3

      *Spawns Extreme Griefer Jesus*
      *Matt decides to hate the player or the game*

    • @MackDaddyVic
      @MackDaddyVic 9 місяців тому

      @@treek10kSo Satin’s pretty cool. It’s whatever.

    • @dracozain1023
      @dracozain1023 6 місяців тому +1

      ​@@EnergyWRLDa fellow darkviperau enjoyer😂

  • @zimzob
    @zimzob Рік тому +1094

    “Taxes are for little people.”

    • @benchoflemons398
      @benchoflemons398 Рік тому +21

      70% of US federal tax revenue comes from the top 10%. 40% comes from the top one percent. 0% comes from the bottom 50

    • @Mo-us4ki
      @Mo-us4ki Рік тому +80

      @@benchoflemons398the math ain’t mathing

    • @treek10k
      @treek10k 11 місяців тому +7

      Jesus Christ died for your sins on the cross. Repent and believe in him or you will be separated from God The Father for all eternity and face hell forever, for all eternity, never ending.

    • @DayonBledsoe2000
      @DayonBledsoe2000 8 місяців тому +16

      @@treek10kshut up about stuff that can’t be shown

    • @benchoflemons398
      @benchoflemons398 6 місяців тому +8

      @@Mo-us4ki in other words 40% of the taxes comes from the one percent.
      30% comes from the 1.1 to 10%.
      30% comes from the 10 to 50%
      0 percent comes from the 50-0%
      Does that make sense????

  • @NoahM1040
    @NoahM1040 6 місяців тому +410

    For anyone wondering, this is the pass through entity tax, which is where you elect to pay your state tax at the entity level, which avoids the $10k limit for deducting state tax, and doesn't affect your ability to itemize or take the standard deduction, as it becomes a business deduction, not a personal one.
    The IRS is aware of this and hasn't said that it's not allowed, but its not available in all states.

    • @SBayne762
      @SBayne762 5 місяців тому +11

      You still have to add it back as I come on the stage return, so you’re not completely eliminating the tax.

    • @TEXLIFE
      @TEXLIFE 5 місяців тому +2

      Passthrough entities are taxed at the individual level. So, what are you saying i wasn't able to understand.

    • @NoahM1040
      @NoahM1040 5 місяців тому +9

      @@TEXLIFE that's generally correct, but some states allow you to elect to pay state tax from the business, treating it as a business expense.
      This is due to the rule that you can only deduct up to $10,000 in state taxes on your personal return.
      With this election, you deduct all of your state taxes from your business, and also can itemize using other taxes and personal expenses, or you can take the standard deduction.
      It essentially just allows you to deduct more than you would otherwise be allowed, but it's not available in all states.

    • @TEXLIFE
      @TEXLIFE 5 місяців тому

      ​@@NoahM1040I read another comment. I got it now. Thanks

    • @MikeAveli.
      @MikeAveli. 5 місяців тому +1

      Haha yes!! I was thinking of this because I've done it. Its called PTET and Graham is wrong in thinking it's a way around it, its some savings but not around it. Also he knew about it after he left CA because it is new.

  • @JosephAccetturoII
    @JosephAccetturoII 6 місяців тому +247

    So there is a guy paying 400k in state taxes who doesn't have a CPA providing him tax planning? Seriously?

    • @inalaska1208
      @inalaska1208 6 місяців тому +21

      I am seriously surprised how many people run their own business and don't under that business taxes are not just cut and dry there are sets of rules to fallow and different ways to pay and deduct legally

    • @jeanrichardsonbernard4596
      @jeanrichardsonbernard4596 6 місяців тому +18

      @@inalaska1208it’s mostly those self made millionaires who don’t have the right friends, and or don’t do research.

    • @finleywhelton5366
      @finleywhelton5366 6 місяців тому

      @@jeanrichardsonbernard4596also the people that don’t own their own business and have made it through corporate, government, etc. people without their own businesses suffer aswell

    • @wyckedsyndicate
      @wyckedsyndicate 5 місяців тому +8

      CPAs don't really like operating in the grey as they're not getting bonuses based off how much they save their client and the client is none the wiser as to what their true saving potentials are. Why as a CPA would you give yourself unnecessary liability to save somebody more money and risk potential jail time

    • @inalaska1208
      @inalaska1208 5 місяців тому +3

      @wyckedsyndicate ...yeah it's not risky if your following the rules. In business taxes there are plenty of legal ways to structure a business profits and losses to serve the business well. This isn't grey its understanding the tax code. Simple example carrying forward a loss in a business over multiple years is both legal and depending on the situation better for the business then claiming it all in one year.

  • @garretth1212
    @garretth1212 5 місяців тому +148

    As a young accountant, can confirm that just about everything is a gray area. Already made a few calls to the IRS to clarify a few things, those wait times, oof they are rough.

    • @figgy9496
      @figgy9496 5 місяців тому

      Did you take a course? For your accounting

    • @garretth1212
      @garretth1212 5 місяців тому

      @@figgy9496 Quite a few, I have a bachelors in accounting and finance. Still working through my CPA however.

    • @garretth1212
      @garretth1212 5 місяців тому

      @@figgy9496 Sorry if you see this message twice, but my reply is not showing up on my end. I have completed quite a few accounting courses, receiving my bachelors in accounting and finance. Still working through the CPA however.

    • @londontripz111
      @londontripz111 5 місяців тому

      ​@@figgy9496the tax codes are public look them its like 5k pages long but a course or something like that definitely helps

    • @daedaluxe
      @daedaluxe 5 місяців тому +24

      @@figgy9496 Nah, bro just woke up one day and knew

  • @anthonyhenryhoover9278
    @anthonyhenryhoover9278 6 місяців тому +81

    How millionaires get away with paying less tax. They can afford the best accountants and lawyers to argue their case. Isn’t worth the IRS time / money to try a legal battle with them so they go after easy targets that are the lower earners.

    • @daedaluxe
      @daedaluxe 5 місяців тому +2

      So then become a low earner that's not worth their time to go after? Start reading and be prepared to question and fight them on every receipt and make every question a month long issue, drag it out until the point they just leave you alone, if you think that'll ever happen. You really think they're not going to go after the business owner with 30mill turnover and 500k of reported income tax because they think it's not worth their time to enter a legal battle? And that it's more worth their time to go after average schlub who isn't paying 4k on their 30k earnings?

    • @rifleman4005
      @rifleman4005 4 місяці тому +5

      They don't. Look up the stats. Educate yourself.

    • @sickomode6440
      @sickomode6440 3 місяці тому

      @@daedaluxe IRS tries but they can't catch them, they are only allowed to do within their powers

  • @Wiskerbiscuit
    @Wiskerbiscuit 6 місяців тому +34

    IRS has entered the chat

    • @riyazrhi4136
      @riyazrhi4136 5 місяців тому +13

      And then they left because it was a grey area

    • @Wiskerbiscuit
      @Wiskerbiscuit 5 місяців тому

      @@riyazrhi4136 irs only sees black and white, they are still here.

  • @conversationswithme8601
    @conversationswithme8601 8 місяців тому +12

    No money in Hell ...😂😂😂 Wonder why? 😂😂😂😂

  • @bartjsimpson
    @bartjsimpson 6 місяців тому +12

    California Assembly Bill 150 allows pass through entities to pay the State tax out of the business so it’s a deduction at the Federal level. This bill ends at the end of 2025. There’s some elections and payments you need to make in advance but it’s definitely helpful. My CPA helped me with this tax election. I highly recommend high income earners work with CPA’s to find legal tax avoidance laws.

  • @Camille2686
    @Camille2686 5 місяців тому +2

    The more you’re willing to pay a CPA the more knowledge in taxes you’ll get. 90% people want to cheap out on a CPA but don’t realize they are a great assets they shouldn’t nickel and dime for their time.

  • @justsaying3899
    @justsaying3899 4 місяці тому +18

    If anyone interested he is talking about turning your LLC to and S-corp and turning yourself an employee of the company this way you avoid being taxed twice as much

  • @RMwhite
    @RMwhite Місяць тому +18

    Paid 36k to Uncle Sam this year from my business. What did he do for me? Send it to another nation I could care less about .

    • @ednure
      @ednure Місяць тому +1

      He funded bigger businesses than you. Aid is just tax money spent on American companies. But doesn’t hurt any less

    • @franko8572
      @franko8572 Місяць тому

      They gave a lot of it to you fellow Americans too. The new American voters thank you.

    • @davidomar742
      @davidomar742 2 дні тому

      booo hoooo

  • @ShellysMillions
    @ShellysMillions 4 місяці тому +3

    Not you cutting to Meet Kevin’s plane when you said everything is up for interpretation! Well played

  • @shergillfamily7983
    @shergillfamily7983 День тому

    Uncle Sam wasn’t born yesterday😂

  • @lilchernovevo
    @lilchernovevo 3 місяці тому +1

    Fck those taxes

  • @user-tu1wv6gd8o
    @user-tu1wv6gd8o 5 місяців тому +3

    PTET baby!

  • @thebestthingthatneverhappe6729
    @thebestthingthatneverhappe6729 5 місяців тому

    had 5.5 mil taxable income in 2022 great job Lewis

  • @Natescoop8800
    @Natescoop8800 4 місяці тому +7

    Poor guy, i made 70k as a mail man before taxes and got a total refund of $600 total after paying over 9k in state n federal.... 😮😢 shit is fd up... i use 0 of state n federal assistance why am i being taxed so heavily and get nothing back?!!

    • @user-df5ho5jk3j
      @user-df5ho5jk3j Місяць тому +2

      You are been robbed my friend,quite clear.

    • @KateLate____
      @KateLate____ 21 день тому +2

      You use federal and state assistance if you drive on a road, get your mail delivered (ironic), have the govenrment mow your nature strip, send your children to a public school, take them to the public library....
      Or are these municipal taxes where you are from?
      I'm Australian, so the split is different.

    • @kojak5500
      @kojak5500 15 днів тому

      @@KateLate____ lmao the good old boomer argument of “we need roads and education” to justify overtaxation aka THEFT.

  • @Thomas-sv4ii
    @Thomas-sv4ii 2 місяці тому +1

    U gotta pay to play, doesn't matter if you're spending your time figuring out ways to avoid taxes or spending money on taxes. Play safe! Play nice!! 😅 Enjoy!!

  • @mattjohn6819
    @mattjohn6819 Місяць тому +11

    This why they don’t teach kids about finances or taxes. You would think that this would be the single most important subject in school. Who the hell gives a shit about algebra and calculus? 😂Lol
    People are too “educated” to understand this. “Keep them poor while educating them.”

    • @beslandaur7729
      @beslandaur7729 Місяць тому

      Why would they teach it, their system demands people to remain slaves and unaware of important things, so they do not revolt. Wicked evil system that is long overdue for a reboot.

  • @ThatRandomFinanceGuy
    @ThatRandomFinanceGuy 5 місяців тому

    It’s the PTET - Pass Through Entity Tax

  • @Olliethegolden
    @Olliethegolden 5 місяців тому +2

    I’m a travel nurse and got offered a 5 figure a week contract and then I heard about the taxes in CA which I knew were bad. Needless to say I chose the contract in NOLA for 1/3 of the pay

    • @JeshieWafflez
      @JeshieWafflez 5 місяців тому

      Or take the 5 figures a week and move out of California? XD

    • @Olliethegolden
      @Olliethegolden 5 місяців тому

      @@JeshieWafflez can’t do that

    • @JeshieWafflez
      @JeshieWafflez 5 місяців тому

      @@Olliethegolden With 10k+ a week you sure can. Lol

    • @jameslaurensvn
      @jameslaurensvn 5 місяців тому +1

      @@GigaRantsthat travel shit crazy bro. Some places need nurses more than others and will pay accordingly, height of covid in NY they were paying 10-15 a week easy.

  • @ns6095
    @ns6095 4 місяці тому

    Wow... thanks for putting that out there... now let's see how long the government gets a hold of it.

  • @JM21999
    @JM21999 2 місяці тому +1

    California is the worst…I don’t blame successful people looking to find ways to escape the madness

  • @ryukirito2616
    @ryukirito2616 5 місяців тому +17

    This is why a flat tax is needed

    • @nicolasgirard2808
      @nicolasgirard2808 4 місяці тому +1

      They're business owners so I don't see how a flat tax really solves the issue. Businesses can show a loss or profit depending on how the business is structured and a variety of factors

  • @unggoy8564
    @unggoy8564 7 місяців тому +9

    Graham still doesn't know the entire system is a scam. I don't just mean taxes either.

    • @yungslimeto35
      @yungslimeto35 6 місяців тому

      Lol.

    • @RK-bx1by
      @RK-bx1by 6 місяців тому +1

      He’s a multimillionaire. The system has treated him really well. It’s the rest of us that suffer.

    • @Ngan-zy9kd
      @Ngan-zy9kd 5 місяців тому

      @@RK-bx1by HE ADMITS HE'S A HIGH SCHOOL GRAD and MANY UA-camrs said HE'S A SCAM - he's a R.E. agent and tell people FINANCIAL EDU/HOW TO GET RICH then make his most $ by LIES & ASK PEOPLE SUBSCRIBE then EARN MOST $ FROM YT AD. REVENUES, NOT FROM HIS STUPID RENTAL BUSINESS AS HE PREACHES - a scammer is TEACH U HOW TO GET RICH OR do NOT do what he preaches. WE ALL KNOW IN THE OLD DAYS there are several SALES PEOPLE SHOULD NEVER LISTEN TO, one is SNEAKY CAR SALES OR REAL ESTATE AGENT SALES b/c they ONLY MAKE $ FROM COMMISSIONS so they LIE TO BUYERS. people take his advise buy R.E. today's news reported that 90% of R.E. buyers REGRETTED LOL esp the EXTREME COLD, FLOODED, SNOW, HURRICANE STATES NEARLY EVERY 1-3 YRS THEY NEED TO SPEND $10-50K TO REPAIR ROOF, FOUNDATION OR REHAB or CA ALL NEW R.E BUYERS CANNOT FIND FIRE INSURANCE OR FL/CA/LA/AL/MS INSURANCE cost over $10k/yr... later people realize BUY R.E. IS NOT GOOD INVESTMENT, REPAIR EVERY YR OR PROPERTY TAX (LIKE TX) goes up too much & upkeep TOO MUCH rehab, it's CHEAPER AND SMARTER TO RENT a house then let the LL repair/rehab every 1-5 yrs to change HVAC, ROOF, FOUNDATION, FLOODED SIDEWALLS, ETC all of these cost over $10k per JOB! THEN PPL REALIZE THOSE YT TEACH U HOW TO GET RICH ARE SCAMMERS, they make their most $ BY LIES/TRICK/DUPE OTHERS & ALWAYS ASK PPL SUBS, HIT LIKE AND BUY THEIR PRODUCTS OR MAKE THEIR MOST (90%) of their money by YT ADVERTISE REVENUE, they DO NOT GET RICH BY WHAT THEY PREACHES TO OWN 10K RENTAL BUILDINGS BABYSIT with 20k families CAUSES MANY RENT MORATORIUM LAWS OR RENT CONTROL/EVICTION CONTROL LAWS OR ALL RENTAL LAWS & IRS TAX LAWS ARE WRITTEN AGAINST LL (Landlord) b/c tenants HAVE LAWS DON'T HAVE TO PAY 3+ YRS RENTS = LL receive NO INCOME while INVEST $ IN TESLA, COSTCO, AMD, SP500 STOCKS ALL GO UP OVER 200% WITHOUT ANY HIRE LAWYERS HOW TO EVICT TENANTS PAY NO RENT OR REWIRE your house grow weeds then sell drugs, babysit tenants ARE A TERRIBLE BUSINESS, THAT'S WHY U NEED TO PAY ME OR WARREN BUFFETT THE WORLD RICHEST, SMARTEST BILLIONAIRE INVESTORS WHO HATES R.E. RENTAL BIZ go watch YT "Ask Warren Buffett WHEN IT'S THE BEST TIME TO BUY REAL ESTATE/house", he said PROBABLY NEVER unless u wife force u buy LOL b/c R.E. only gets 7%-8% cap rate while all other business/stocks get 25%-500% grow rate NEVER FIX TOILETS, HIRE ATTORNEY EVICT ILLEGALS/DRUGGIES/ZOMBIES/LGBTQ/LOVE TO COMPLAINT/SUE LANDLRODS with all rental laws/RENT MORATORIUM LAWS to help TENANTS BUT NOT HELP LL and even IRS TAX LAWS PUNISH LL B/C only THE STRUCTURE IMPROVEMENT PART (R.E. consists of 2 parts: LAND VALUE + Structure improvement, and probably 40% value is LAND but LAND CANNOT DEPRECIATEABLE so LL LOSS 40% VALUE DUE TO IRS TAX CODE right off the bet while all other business is 100% DEPRECIATEABLE for tax write off and IT ONLY TAKES 1-5 OR 7 yrs FAST DEPRECIATION=OFFSET MORE INCOME SO PAYS LESS TAX...) while R.E. takes 27.5 to 39 yrs TOO SLOW TO DEPRECIATE = CANNOT OFFSET other income more thus PUNISH LL PAY MORE TAX compare to other business takes 100% depreciatable with mostly 5yrs or 1yr like heavy auto/jet/boat! BOTTOM LINE IS: DO NOT TAKE ADVISE or be with STUPID/DUMMIES W/ NO fancy financial edu or have PhD or MBA OR EVEN HAS A DEGREE IN STEM field or SELF-MADE RICH BY HONEST SERVICE HELP MILLIONS OR INVENTION OR SOLVE MILLION PPL'S PROBLEMS... PAY TUITION$ LEARN FROM THE REAL SMART, RICH AND HONEST MENTOR/MARRY rich SUPERMAN for young, pretty, virgin and COOPERATIVE/OBEDIENT girls b/c every smart RICH HONEST MEN LOVE girls who are 1)YOUNG 18-28Y/O, 2)BEAUTIFUL; 3)VIRGIN=DON'T LET OTHER MEN F* AND ONLY SLEEP WITH FUTURE SUPERMAN HUSBAND THEN SUPERMAN WILL APPRECIATE SMART GAL CHOOSE HER, if sleep around then SHE'S NO MUCH VALUE IF SHE F* 20 MEN BEFORE u/degrade herself for being CHEAP & SL*TTY - BRING DISGRACE TO A RICH SUPER SMART MAN AFTER MARRY SUCH JUNKIES LOl, that's CONFUCIUS/50% OF WORLD POPULATION IS ASIAN ALL VALUE FEMALE'S VIRGINITY; 4)obedient or at least SUPPORTIVE/COOPERATIVE INSTEAD OF BOSSY WESTERN WOMEN FEMINISTS - Passport Bros said DON'T WANT WESTERN JUNK FEMINISTS LOVE TO FIGHT/SUE Donald Trump lost $5-83M just BS TALKING W/O SOLID EVIDENCE to RUIN man's life or divorce Bill Gates lost his $100B=ELON MUSK FEAR TO GET MARRY... or pay tuition$ only LUNCH WITH WARREN BUFFETT/BE HIS STUDENTS=ONLY LISTEN TO TRUE SMART, RICH & HONEST SUPERMAN AND DON'T LISTEN/TAKE ADVISE FROM DUMMIES OR SCAMMERS/crooks/R.E./CAR SALES/EVIL LIARS later cause millions 90% regret buy R.E., that's why u need to pay $ get edu from the superman like we/Buffett=hate won't buy 30k of $1M SF home hire 5k lawyers help evict+babysit 30k families that 30% are troublemaker tenants=no fun, buy $3B APPLE/BANKS/COKE stock make $ never get tenants protests said "the rent is darn high all b/c GREEDY LL CHARGE OVERPRICED, PROTEST & all laws help tenants NOT LL stop pay property tax/mortgage for 3 yrs!", worship & only be with/marry/work with rich smart honest supermen - u only know how vital is marry/be/work with true honest rich smart superman after u get duped listen to dummies/scammers advise:)!

  • @christo138
    @christo138 4 місяці тому

    Find equity. Do not scam the IRS or state tax boards.

  • @ralBurebsuos
    @ralBurebsuos 4 місяці тому +4

    I love doing my taxes in Nevada and skipping that state tax part. Cali sucks so bad.

  • @josiahwagner7411
    @josiahwagner7411 6 місяців тому +9

    Nobody should be paying taxes to any corrupt form of government entity.

  • @anamarianeri
    @anamarianeri 5 місяців тому

    Y'all should try to link the original video. Which podcast video is this from?

  • @SekitendeJulius
    @SekitendeJulius 27 днів тому

    To get your way around taxes, you have to have felt how unfair the system is!

  • @vivianledonghae4eify
    @vivianledonghae4eify 5 місяців тому +1

    no wonder the rich always rich. The poor are getting poorer, and some becomes homeless.

  • @infini.tesimo
    @infini.tesimo Місяць тому

    How is it grey when you read it from the source? 😂

  • @crikxouba
    @crikxouba 3 місяці тому +1

    The very poor wealthy and the very poor benefit from the tax system, everyone else is screwed

  • @calebgoforth9203
    @calebgoforth9203 4 місяці тому

    A flat tax would be nice, although income taxes as we know them are fairly new at least if you weren’t in the one percent

  • @grubsrealm6549
    @grubsrealm6549 Місяць тому

    The united states only includes the district of Columbia in irs code

  • @codyglassett3065
    @codyglassett3065 5 місяців тому

    In Utah it’s called a salt payment

  • @logic_and_fitness9421
    @logic_and_fitness9421 4 місяці тому +12

    How California citizens havnt taken their govt out yet is wild

    • @lolismee_175
      @lolismee_175 4 місяці тому +1

      They’re too busy crying about gay rights and

    • @realbusines
      @realbusines 4 місяці тому

      @@lolismee_175 lol

    • @joeyharper4976
      @joeyharper4976 3 місяці тому

      They have been brainwashed and conditioned to think this is a "Good thing".

    • @dubjubs
      @dubjubs 3 місяці тому

      Because they love the government so much and want the rest of the US to put Newsom on a pedestal

  • @Resident1157
    @Resident1157 5 місяців тому +1

    They can close the loopholes and charge retroactively, play stupid games, actually live in stupid places, pay stupid taxes

  • @j.e.marquez6753
    @j.e.marquez6753 5 місяців тому +2

    The IRS will fuck a working class person over for being late on filing but the owner class get away with murder like this 😂

    • @RevealedFilms
      @RevealedFilms 5 місяців тому

      Because you’re an NPC and not a main character.

  • @Somethingwittyxs4ku
    @Somethingwittyxs4ku 5 місяців тому +1

    Yes, hire someone. Good idea now make it legal.

  • @LifestyleApparelBrands
    @LifestyleApparelBrands 29 днів тому

    400k in taxes? That's crazy....

  • @whasian2007
    @whasian2007 5 місяців тому

    I find it interesting that they love complaining about state tax when he's paying approx 2.5 times that in federal taxes probably around 1.1 mil. if your problem is taxes just leave the country

  • @jayspetsnaz
    @jayspetsnaz 6 місяців тому +1

    American dream baby … don’t give up your guns and all will be fine 😁

  • @tbone50515
    @tbone50515 6 місяців тому +1

    CPA no do it yourself

  • @devincase3091
    @devincase3091 4 місяці тому

    You start to get over the actual words and how you feel about them… then you realize it’s truly just the same game that people have been playing since the beginning of time. Status and wealth and amplification of those 2 items. It can seem brutal at times but also… no one is really preventing another individual from playing and trending upwards. Infact, they are teaching you on UA-cam and in books.. both are free to even people with close to zero personal resources in libraries or from simply having a phone which the government will supply for you

  • @Dashikardashian
    @Dashikardashian 4 місяці тому

    What if you just open up a non profit and donate your whole income and then write it off?

  • @Dan-codes
    @Dan-codes 5 місяців тому +1

    This is just another reason taxes shouldn't exist. Anyone thinking they need to exist can't do math and didn't look up any data. Police, fire, infrastructure, military, all doable without taxes.

  • @mrunlmtd
    @mrunlmtd 5 місяців тому +4

    my grandpa been doing this for years with his commercial property. he personally doesnt take a salary, the company does, and the company pays his personal expenses. car payments, mortages, etc. you really telling me my gpa knows more about the tax code than these guys?????

  • @user-rj9cm6sm8q
    @user-rj9cm6sm8q 5 місяців тому +1

    The whole tax code is just a list of ways on how you can avoid paying taxes. There's a reason why rich people can avoid taxes, and yet people think the way to tax them is to increase their tax rate and doing nothing to change things like this

    • @rossegan7034
      @rossegan7034 5 місяців тому +1

      Where is the word "income" defined in the tax code...does it not say that paying tax is "voluntary compliance" like stopping at a red light at 4am in the middle of nowhere without a soul around

  • @gregorygan2077
    @gregorygan2077 6 місяців тому +3

    Power is the ability to own infrastructure and shape culture into moving the population’s money into your pockets

  • @freewillchoice8052
    @freewillchoice8052 2 місяці тому +4

    That tells you taxation is in general fraudulent

  • @BlueCoore
    @BlueCoore 5 місяців тому +1

    If there’s a village with a population of 3 people
    And each one of them has a different business
    And they all buy amongst each other
    And taxes are deductible expenses amongst every transaction
    Yeah, this is what you do.
    Need cars? Land? Tech? You name it, just find the dude that owns it and trade under business expense.

    • @TEXLIFE
      @TEXLIFE 5 місяців тому

      You mean to never take money from the business? That comes with it's own risks?

    • @BlueCoore
      @BlueCoore 5 місяців тому

      @@TEXLIFE the money was never from the business and theres actually no risks, its all an illusion

    • @TEXLIFE
      @TEXLIFE 5 місяців тому

      @@BlueCoore what did you mean by taxes are deductible expenses amoung every transaction?

  • @anthonyjames4319
    @anthonyjames4319 4 місяці тому

    It’s written in a way to make everyone guilty. “Show me the man and I’ll show you the crime.”

  • @jesserobinson6210
    @jesserobinson6210 5 місяців тому

    Even though it’s deductible, it still cost $400,000

  • @mooncloud6563
    @mooncloud6563 4 місяці тому

    Get that guy for tax evasion!

  • @MateaAccount
    @MateaAccount 10 місяців тому +37

    Read a book Tax Free Wealth: How To Build Massive Wealth by Permanently Lowering Your Taxes
    I think every country has similar tax code that help us reduce taxes. The problem is: how to find rich minded tax advisors and accountants that are not afraid, in Europe??

    • @jugghead-1975
      @jugghead-1975 10 місяців тому +1

      Absolutely... that's the very reason you might hear from you friends or coworkers "i got the best tax man, go see him" ! Just one that's not afraid to push the limits then sign their name at the bottom!

  • @Anonymous8317
    @Anonymous8317 6 місяців тому +1

    No average citizen understands the tax code, that should be illegal.
    You literally need a team of attorneys.

    • @barbarakeyser6415
      @barbarakeyser6415 5 місяців тому +1

      Other countries figure out your taxes for you and send you a statement... unfortunately we have a tax industry that isn't going anywhere

  • @Uno_Floydd
    @Uno_Floydd 4 місяці тому +1

    Oh Im hating the game alrighty

  • @hgdm89
    @hgdm89 26 днів тому

    There are not grey areas, is either right or wrong, cheating taxes doesn't make you a bad person, but that doesn't mean you are not going to jail just because you are good guy.

  • @GRN764
    @GRN764 5 місяців тому +1

    You should probably think twice about giving legal advice and then sharing that legal advice online to hundreds of thousands of people.

  • @ZephyrusTheReal
    @ZephyrusTheReal 5 місяців тому +1

    The simple answer is you don’t pay taxes on debt so reinvest to get below the bracket you need
    Losses count against your gains
    Charity is untaxed
    Live off your credit line and every spent dollar is debt tax free
    Don’t take money out of the business entity; buy a company jet office or even duplex if needed using credit for the deposit
    I could sit here typing for hours

    • @TEXLIFE
      @TEXLIFE 5 місяців тому

      Ah what. You have to pay income tax on the income. What are you saying? To intentionally go and lose that income to not pay income tax?

    • @ZephyrusTheReal
      @ZephyrusTheReal 5 місяців тому

      @@TEXLIFE you don’t want to make income
      That’s when your business takes money from the business and puts it into your personal account
      That’s exactly what you don’t want to do
      You take the money that’s in the business and leverage it to acquire debt on cash flowing assets
      The debt that you acquire is not taxed!
      Let’s say you’re $250k over the bracket you want to be in
      Go and spend $250k on a 40 unit rental property down payment
      I’m learning too but I have a pretty solid foundation of knowledge in this field
      Hope that’s more helpful 🙏

    • @andrewx2047
      @andrewx2047 5 місяців тому

      @@ZephyrusTheReal
      Where did you learn this? From a book or first hand

    • @Jack-jp6ki
      @Jack-jp6ki 5 місяців тому

      ​@@ZephyrusTheReal let's do some business together. I'm thinking about acquiring some properties, and I have A+ knowledge on the text system.😊

    • @TEXLIFE
      @TEXLIFE 5 місяців тому

      @@ZephyrusTheReal No, that's not how any of this work. Not only do you have to pay taxes on the income you take from the business as salary/draws but also on the income that the business generates. And no draws are not deductible.
      What you are talking about is depreciation as an expense. And yes you can use that in both 179 and bonus depreciation.

  • @jonmaster714
    @jonmaster714 6 місяців тому +4

    Easy answer. Move to Nevada 😂

    • @taygodly
      @taygodly 6 місяців тому +1

      Yup, Reno about to blast off in the next 10 years.

    • @jonmaster714
      @jonmaster714 6 місяців тому +2

      @@taygodly Reno local here. Already has 😂

    • @netc.5809
      @netc.5809 2 місяці тому

      Nevada doesn't want anymore Californians. They are already making it another crap hole.

  • @cupra2Jock.
    @cupra2Jock. 5 місяців тому

    Pay ya self dividens kid

  • @colerutledge1782
    @colerutledge1782 4 місяці тому +2

    awwww :( rich people are sad that they have to pay taxes :(((( awhhhhhh im crying rn :(((

  • @jhoeh4672
    @jhoeh4672 4 місяці тому

    RIP shinzo abe

  • @Brismo7
    @Brismo7 2 місяці тому

    RIP ABE

  • @ChipAlum
    @ChipAlum 5 місяців тому

    There isnt that much grey in the U.S. tax system. Most things have regulations or case law to point to an answer for 99% of situations

  • @MikeAveli.
    @MikeAveli. 5 місяців тому

    Its called PTET tax strategy and Graham is wrong in thinking it's a way around it, its some savings but not around it. Also he knew about it after he left CA because it is a new tax srategy.

  • @KindnessForTheSoul
    @KindnessForTheSoul 6 місяців тому +1

    Tax reclaim on buissiness expense

  • @FutureLaugh
    @FutureLaugh 7 місяців тому +12

    The business makes a mill, and i pay myself a measly salary of $25k. everybody knows this s corp shit

  • @helena3631
    @helena3631 5 місяців тому

    Graham is looking really strung out lately… guess money can’t buy happiness he’s changed so much but not in a good way

  • @jayjohnson5813
    @jayjohnson5813 5 місяців тому

    Just get a Former EA

  • @inalaska1208
    @inalaska1208 6 місяців тому

    Get a good cpa business taxes are very grey

  • @nikki09918
    @nikki09918 5 місяців тому

    Newsom is hearing you and now will change it...

  • @EtreBritta93
    @EtreBritta93 5 місяців тому

    Bro how much is he making gross salary then jesusssss 😂

  • @TrueWealthFinancial
    @TrueWealthFinancial 4 місяці тому

    ❤❤❤

  • @Alv11011
    @Alv11011 5 місяців тому

    Everyone should read tax free wealth by tom wheelwright

  • @veelowmuymalo7258
    @veelowmuymalo7258 6 місяців тому

    Just saved him $275 K

  • @Sashaboss359
    @Sashaboss359 5 місяців тому

    Made $400 k this week probably and crying about taxes

  • @DrakeKillah
    @DrakeKillah 4 місяці тому

    Taxes are made to control the people. One group of people are busting your balls over something the government did? Add a tax to something that group needs/wants, and/or advise IRS to go after them for some form of error in their taxes. Most of that group will now be too busy trying to make ends meet, arguing with the IRS etc. to have time to bother you.
    It's a grey area, so that it can be used and "adjusted" for different purposes, people etc. and plausible deniability.
    Some people have the resources and energy to fight back, but that's just the cost of doing business. "The House" will win in the end.

  • @davidk4860
    @davidk4860 4 місяці тому

    Flat sales tax of 10%. Government shouldnt need anymore money bc the more we make the more things cost and the more money they will get.

    • @metalrooves3651
      @metalrooves3651 4 місяці тому

      a sales tax is stupid on so many levels!When the radio talk shows discuss it ,its all WOW,LETS DO IT!,,,ITS STUPID,THATS WHY ITS NOT TALKED ABOUT MUCH!

    • @davidk4860
      @davidk4860 4 місяці тому

      @metalrooves3651 an income tax is not only equally as stupid but also unfair.

    • @metalrooves3651
      @metalrooves3651 4 місяці тому

      people think the sales tax will alleviate their tax !!WE HAVE a monster hog eating our taxes!IT will never cease being hungry! WASTEis paramount to why the US is broke...construction in the private sector ,a project costing 10k is 85k federal!NO SALES TAX will save you anything because someday all your savings will SOMEHOW get spent! @@davidk4860

  • @wwabbd1987
    @wwabbd1987 4 місяці тому

    If our tax system wasn't gray at best, the government would send people who don't even have their own business a bill at the end of the year😂

    • @wwabbd1987
      @wwabbd1987 4 місяці тому

      Think about it, how in the hell are you employed by somebody else? That is your only source of income and the government doesn't know how much money you owe or they owe at the end of a work year.....

  • @Eggy79
    @Eggy79 4 місяці тому

    But why would anyone want to avoid taxes

  • @imbecilicGenius-hn3jo
    @imbecilicGenius-hn3jo 6 місяців тому

    It was written in a way that if you knew it you could cheat it and if you were new to it then you'd never catch up to the cheaters.

  • @dlw3m
    @dlw3m 5 місяців тому

    just move to Texas

  • @stephenhermosillo5039
    @stephenhermosillo5039 4 місяці тому

    Its not insane it's quite sane actually

  • @DFWTX
    @DFWTX 2 місяці тому

    nerds win based on the simple fact that they turn in their paperwork. 😂

  • @amythomspon956
    @amythomspon956 4 місяці тому

    That interpretation is up to a DA and hope he is not a political hack and make sure you have donated to him 😂

  • @Iburn247
    @Iburn247 5 місяців тому

    Pass thru tax

  • @fotisvon9943
    @fotisvon9943 4 місяці тому

    taxes are for controlling people. it is difficult to control those who dont want to be controlled and have the money to back up their desires

  • @Unduplicatable
    @Unduplicatable 5 місяців тому

    I pay more in taxes than most rich people.

  • @theyinkler1866
    @theyinkler1866 Місяць тому

    Stop income tax and start a consumption tax and poof no one avoids paying taxes. Very fair

  • @NickThiller
    @NickThiller 5 місяців тому

    The way around it? Leave Cali and don’t vote blue when you inevitably end up in TX or TN.

  • @doboy.q4838
    @doboy.q4838 3 місяці тому

    saul goodman

  • @amyx231
    @amyx231 6 місяців тому +2

    Flat tax. 10%. Done. Literally move the decimal. That’s your tax. No extra soft Medicare and stuff. Just 10% flat. Once the rich pays their fair share and corporations pay…anything… we’re golden.

    • @Yogurt4655
      @Yogurt4655 6 місяців тому

      Flat tax is the exact opposite of the rich paying their fair share lmao

    • @amyx231
      @amyx231 6 місяців тому +1

      @@Yogurt4655 no loopholes. That’s the key. Fair share. Everyone.

  • @Denali_Rebel
    @Denali_Rebel 5 місяців тому

    Taxes are for the middle class family. You now have enough money to get out of paying any taxes bud.

  • @_andrewpeters
    @_andrewpeters 4 місяці тому

    PTE tax! It’s legit

  • @jesselin1665
    @jesselin1665 5 місяців тому

    That means he’s probably making over 3 mil a year. I think he can afford it.

  • @peanbean1973
    @peanbean1973 6 місяців тому

    If you spend all the money they cant take it

    • @TEXLIFE
      @TEXLIFE 5 місяців тому

      And how would you?