I own rentals with losses passive income i just started investing in stock and have a gain. Will my loss go against the gain? also you said if i have a gain i could sell a stock for a loss and re buy but you kept saying in crypto. Can i not do this with other stocks?
#3) Loss Harvesting! (Canada) I did that in my Cash Account, in November! Sold 1 Share at a $3,044 Capital Loss, Nov. 7th/24! Nov.29th/24: Sold 15 TSLA at a Capital Gain of about $3,000! Net Cash, about $7,176; Zero Capital Gains Taxes; AND Put $7,050 of that, into my FHSA (First Home Savings Account) for a Good Tax Deduction!
Toby, I’ve been binge watching your videos the last few weeks. Thank you so much for sharing this much value with the world. It will come back to you ten fold 🙏🏼
Like this, I had a Ticket I sold on November 7th, 2024, that was at a $3,044 Capital Loss! On November 29th, 2924, I sold some other shares, at approximately a $3,000 Capital Gains! Net result = About a $44 "Loss" but I still collected over $7,100 Net!
I know Master Limited Partnerships (MLPs) such as ET and ENB do a K-1 tax form, which returns the principal you invest in them in the form of dividends. What this effectively means is you don't pay a dime of taxes on the dividends until after the sum of total dividends equates to amount of capital invested. Only then have you made a taxable income on the investment. I know private REITs work the same way. Not sure what else.
Typically not, an s-corp saves you on self employment tax but you still have to take a reasonable salary. I’ve heard between 50-80k Before you should consider a-corp
Outstanding stuff. I have had a brokerage account for over 40 years and never paid $1 in capital gains (I do have some dividends reinvested) and I harvest losses every year. It will be the last money I touch after SS, pension and IRA so my heirs will get a step up in basis.
thank you for this free education. it's really true that in the information age, ignorance is a choice. This information can help "the poor" become wealthy too; we have no more excuses if we don't act on such knowledge. Thank you again!
I would like to know more about setting up your own charities and combining that with a management company to manage all of my family affairs and future businesses.
This information is so very useful. I wasn't aware that the dividends were taxed at a lower rate. I thought it was 40% for dividend taxation. I had already intended to use the depreciation of real estate once i start buying., I'll have to find some way to officially show up in the lower bracket to benefit from the dividend 23%.
A wealth of knowledge and as of recent a real estate professional, I was not aware of all these tax saving opportunities. Well done thanks for taking the time.
Love your videos sir. Charitable giving is something I have heard of, but not broken down to this level of detail. I hope to utilize all ten in the future
Really enjoyed learning about many of these strategies at your Tax and Asset Protection workshop in Dallas. Looking forward to attending the next one as well. The information is invaluable!
Toby, This might be a stupid question but I want to make sure I understand, If I earn dividends from an ETF like JEPI or JEPQ it is taxed the same way as if I earn a dividend from a single company like MMM, GPC or V? Even though in the ETF they are writing covered calls?
Hello Toby, thank you for again a very informative video. Regarding the life insurance banking, do you have any idea how we as non American can take advantage of this (Europe)? Thanks in advance Best regards, John
Really loving your channel but I'm 61 and have no knowledge yet just learning what to do help me please I'm about to come into a bit of cash dint want to waste it
Toby, longtime subscriber to Clint and then you. Such great content! 1 beef … I have to watch your videos twice, because I generally listen to them while doing other tasks and sometimes driving. Then I have to watch again so I can take notes! 😂😂😂 Familiar with most of the 10, some more in depth than others but particularly like anything that is applicable to later life stages with accumulated assets. Still have business interests though. How about strategies for individuals with 100% passive income, that wants to not give so much to DC? Single, no kids.
I appreciate your dedication to watching my videos! I’ll definitely consider your request for strategies tailored to individuals with passive income. Stay tuned for more content!
I'm blown away with your knowledge! I have been benge watching you, and I feel so empowered. I'm beyond upset that I have t found you sooner, like when my parents' estate was being handled. I feel like I was screwed over big time with how it was set up and dispersed. Also on how to move forward with what I did receive, maybe I wouldn't be in the mess I'm in now. Thanks to you I've heard of most of the 10 you listed, a d eager to learn more !
Hi Toby - love the video. I was not clear though on #1, the Retirement Savings Accoubnts, notably the Defined Benefits Plans. It sounded like one might be able to do this through a family LLC, o would you use another business?
Deciding whether to sell or keep single-family rentals involves considering several factors. If the real estate market is performing well, selling could offer a favorable return. On the other hand, if you expect property values to increase, retaining the properties might be more advantageous in the long run. Properties that provide consistent rental income and are manageable can generate ongoing cash flow and appreciate over time. Selling could lead to capital gains taxes, whereas keeping the properties allows you to take advantage of depreciation and other tax benefits. Reflect on your investment strategy and financial goals: if you’re seeking short-term profits, selling might be the better option. If your focus is on long-term wealth accumulation, holding onto the properties could be more in line with your objectives. Ultimately, it’s about weighing immediate financial needs against long-term investment goals.
Appreciate ya. I’m a new LLC/S-corp but starting out. Can you recommend someone that I can get the overarching framework consultation? I need assistance as I’m new at this and don’t want to screw it up
I will tell you... I love your content big time. Long term fan. I hate number 3. I always feel like a loser no matter what. Ive failed at number 7 so many times but I need it. Number 8 is no good in my state. Number 4 I need more doors. I still have to write a bunch of covered calls and puts to make it. I really want to be more tax efficient though
I'm a little fish ($500K in liquid assets). I make $120K and hope to sell a $1M house and retire in 1 year. I will probably take $800K from the house sale. My question is, "Which of these 10 make the most sense for me"? Which ones have the best benefit / cost ratio given my situation? Great video as always - keep 'em coming.
Tax free bonds at5%. Is double that when you consider your top bracket and State tax, and additional income might Push yourself into even higher tax but. The stock market struggles get 10% return and dividends are taxed
Happy New Year 2025 to you ! I really appreciate learning from your videos and wisdom. Could you please confirm and elaborate on the loss harvesting and paying capital gain rates could only happen in the brokerage account, NOT from regular IRA tax deferred traditional account , which I moved from my old job to one of the financial institutions. Thank you 🙏
Please deep dive in Charities: can a day trader be an employee of his/her own charity, but as charitable work do day trading or long term investing for his/her own charity, while truly giving the proceeds to various churches or other good causes like veterans, single moms, recovery centers?
Wow! This is great information. Now that I have reached a high income, I started paying close attention to the amount going out in taxes. There is so much I need to learn. I thought all whole life policies were bad, so I never took time to learn about them. I also thought bonds underperformed, so I never considered tax-free munis. Lastly, I would like to know more about donations and foundations for tax avoidance. Thanks.
please deep dive in Loss Harvesting for traders/investors ( short-term/long term) of various kinds of assets such as forex currencies, index futures, stocks, crypto, etc...can short term traders ( day traders, swing traders) also take advantage of Loss Harvesting?
I don't get it. Bought a house for 90K, worth 315K and assumed it was paid off when you donated it and got a 120K write off. What happened to the other 95K?
The one I am the most interested in is the Charitable Trusts/Charitable Remainder Trusts and how that might be used if you have a special needs child..... Thanks for this Info
I do fund mt PUA's in my whole life with money from my C Corp that i take out and put into my Heloc.( I do use credit cards for business expenses) That heloc i use to pay business real estate taxes and insurance. I then turn around and take policy loans and loan it to the business so it can pay off credit cards. The business then pays me back the loans on a monthly basis with the same interest as the credit cards would charge. Is this method beneficial?
@Toby - Hi. I had heard of all of these strategies but I was able to learn a little more on Loss Harvesting and Tax Free Bonds. I love your content and my favorite strategy that I am working really hard a this moment is to build a Real Estate portfolio.
If you want to dive deeper into tax strategies, schedule a free consultation with my team today. Visit: aba.link/8rx
i noticed you call Trump "President " Trump ...but you call President Obama ..."Obama "
I own rentals with losses passive income i just started investing in stock and have a gain. Will my loss go against the gain? also you said if i have a gain i could sell a stock for a loss and re buy but you kept saying in crypto. Can i not do this with other stocks?
@@DerivCapital - A Kenyan was a Fake President!
#3) Loss Harvesting! (Canada)
I did that in my Cash Account, in November! Sold 1 Share at a $3,044 Capital Loss, Nov. 7th/24!
Nov.29th/24: Sold 15 TSLA at a Capital Gain of about $3,000!
Net Cash, about $7,176; Zero Capital Gains Taxes; AND Put $7,050 of that, into my FHSA (First Home Savings Account) for a Good Tax Deduction!
Out of all the "youtubers" out there Toby is the most genuine and educated! I LOVE your videos! Thank you for all that you do!
I can't believe how much he knows. It's scary
Deep dive on oil and gas please🤝💪
Can you do a video on how to find an accountant, a lawyer, or a financial planner that will not screw you over? I am not a very trusting person.
Toby, I’ve been binge watching your videos the last few weeks. Thank you so much for sharing this much value with the world. It will come back to you ten fold 🙏🏼
I would like to know more on the life insurance policies. I never knew about borrowing against them. Thank you!
awesome info. can u please make some videos on types of trust and charities to save taxes. appreciated
Very useful information! Retirement accounts like defined benefit plans is the topic that I would like to know more about.
I'm glad you found the video helpful. Retirement planning is so important.
i heard of loss harvest but can you do a deep dive into that?
I'll definitely consider recording this topic in an upcoming video!
Like this, I had a Ticket I sold on November 7th, 2024, that was at a $3,044 Capital Loss! On November 29th, 2924, I sold some other shares, at approximately a $3,000 Capital Gains! Net result = About a $44 "Loss" but I still collected over $7,100 Net!
Thanks. What are some examples of these oil and gas funds?
I know Master Limited Partnerships (MLPs) such as ET and ENB do a K-1 tax form, which returns the principal you invest in them in the form of dividends. What this effectively means is you don't pay a dime of taxes on the dividends until after the sum of total dividends equates to amount of capital invested. Only then have you made a taxable income on the investment.
I know private REITs work the same way. Not sure what else.
Doing a video on “tax bracket management” would be wonderful!
I'll keep that video idea in mind. Thanks for the suggestion
Could you do a video on the unrealized capital gains tax proposal that the politicians are trying to push, and how to avoid? Thanks
27:25, does anyone know if it is worth moving over to a S-Corp / C-Corp if the side business is ONLY making 20 grand a year, for example?
Typically not, an s-corp saves you on self employment tax but you still have to take a reasonable salary. I’ve heard between 50-80k Before you should consider a-corp
@@josiahcook1546 Thanks for your response and elaboration!
Outstanding stuff. I have had a brokerage account for over 40 years and never paid $1 in capital gains (I do have some dividends reinvested) and I harvest losses every year. It will be the last money I touch after SS, pension and IRA so my heirs will get a step up in basis.
It's great to hear how you've managed your investments so wisely.
thank you for this free education. it's really true that in the information age, ignorance is a choice. This information can help "the poor" become wealthy too; we have no more excuses if we don't act on such knowledge. Thank you again!
This is an amazing video! Sending it to my friends.
Thanks Toby. All your explanations are simply great. Thank you
I would like to know more about setting up your own charities and combining that with a management company to manage all of my family affairs and future businesses.
I would recommend setting up a free consultation to talk about some strategies. Sign up here: aba.link/8rx
Could you explain why dave Ramsey hates the whole life policy?
I want to know more about tax efficient funds and life insurance
Thanks for sharing the wisdom Toby👍👍
Thanks Toby great info!
This information is so very useful. I wasn't aware that the dividends were taxed at a lower rate. I thought it was 40% for dividend taxation. I had already intended to use the depreciation of real estate once i start buying., I'll have to find some way to officially show up in the lower bracket to benefit from the dividend 23%.
I would like to hear more about tax efficient funds
Aren't option ETFs non-qualifying (i.e. not corporate) dividends and taxed at the ordinary income rate?
A wealth of knowledge and as of recent a real estate professional, I was not aware of all these tax saving opportunities. Well done thanks for taking the time.
Love your videos sir.
Charitable giving is something I have heard of, but not broken down to this level of detail. I hope to utilize all ten in the future
practical and usable SBLOC strategies that doesnt bind one to owning rental property ?
does the UK has "basis step up", or is it just in the US?
I would like to know more about Life insurance
I had no idea I could ask Vanguard for a margin loan! Thank you!
Happy to help!
I’m loving this! I can’t wait to get started with a charity. 😊
Really enjoyed learning about many of these strategies at your Tax and Asset Protection workshop in Dallas. Looking forward to attending the next one as well. The information is invaluable!
So happy you enjoyed the workshop! Can't wait to see you at the next one!
Toby, This might be a stupid question but I want to make sure I understand, If I earn dividends from an ETF like JEPI or JEPQ it is taxed the same way as if I earn a dividend from a single company like MMM, GPC or V? Even though in the ETF they are writing covered calls?
Hello Toby, thank you for again a very informative video. Regarding the life insurance banking, do you have any idea how we as non American can take advantage of this (Europe)?
Thanks in advance
Best regards,
John
Havent heard of any of these things!!! My cpa sucks
As always gteat videos. Could u help out w how to set up whole life insurance. Thanks
Retirement accounts (RRSP)
Tax deferral
Losss harvesting
Real estate
Charity
Trusts
Businesses
Tax-free bonds
Life insurance
Tax-efficient funds (oil & gas), long term capital gains, dividends (TIVO)
I would like to learn more about donating real estate to charity that I own........
You should definitely reach out to my team about this. Visit aba.link/8rx
Oil and gas too!
Does this apply to Canada as well?
I subscribed to your channel even though 60% of the vocabulary you use is absolute alien to me...😶
Really loving your channel but I'm 61 and have no knowledge yet just learning what to do help me please I'm about to come into a bit of cash dint want to waste it
Rock solid video buddy
Thank you!!! 🎉🎉🎉
Short SPX box spreads (with portfolio margin) is better than SBLOCs - lower interest rate, and the interest paid is a capital loss.
Thx for your sharing.. you’re the best
Toby, longtime subscriber to Clint and then you. Such great content! 1 beef … I have to watch your videos twice, because I generally listen to them while doing other tasks and sometimes driving. Then I have to watch again so I can take notes! 😂😂😂
Familiar with most of the 10, some more in depth than others but particularly like anything that is applicable to later life stages with accumulated assets. Still have business interests though. How about strategies for individuals with 100% passive income, that wants to not give so much to DC? Single, no kids.
I appreciate your dedication to watching my videos! I’ll definitely consider your request for strategies tailored to individuals with passive income. Stay tuned for more content!
I'm blown away with your knowledge! I have been benge watching you, and I feel so empowered. I'm beyond upset that I have t found you sooner, like when my parents' estate was being handled. I feel like I was screwed over big time with how it was set up and dispersed. Also on how to move forward with what I did receive, maybe I wouldn't be in the mess I'm in now.
Thanks to you I've heard of most of the 10 you listed, a d eager to learn more !
One of the most important videos I've ever watched.
Good advice Toby. Lovely work
Thank you for sharing this knowledge
Hi Toby - love the video. I was not clear though on #1, the Retirement Savings Accoubnts, notably the Defined Benefits Plans. It sounded like one might be able to do this through a family LLC, o would you use another business?
I recommend registering for a complimentary consultation with my team. We'll tailor our advice to your specific needs. Sign up here: aba.link/8rx
Who are those tax harvesting loss companies? I'm interested in that option.
I think this was the best content of financial advice I’ve seen on UA-cam yet
Thank you Toby for this truly valuable information. What if you build single family rentals from the ground up. Is it better to sell or keep?
Deciding whether to sell or keep single-family rentals involves considering several factors. If the real estate market is performing well, selling could offer a favorable return. On the other hand, if you expect property values to increase, retaining the properties might be more advantageous in the long run. Properties that provide consistent rental income and are manageable can generate ongoing cash flow and appreciate over time. Selling could lead to capital gains taxes, whereas keeping the properties allows you to take advantage of depreciation and other tax benefits. Reflect on your investment strategy and financial goals: if you’re seeking short-term profits, selling might be the better option. If your focus is on long-term wealth accumulation, holding onto the properties could be more in line with your objectives. Ultimately, it’s about weighing immediate financial needs against long-term investment goals.
@@TobyMathisthank you sir!!!
Can you do a mix tax strategy with real estate and a trading account under the same LLC.
Or RE and Private lending interest income
I would recommend setting up a free consultation to talk about some strategies and how they apply to your unique situation. Sign up here aba.link/8rx
Appreciate ya.
I’m a new LLC/S-corp but starting out. Can you recommend someone that I can get the overarching framework consultation? I need assistance as I’m new at this and don’t want to screw it up
Hi, I might recommend you schedule a free consultation with my team to get started. Visit: aba.link/8rx
❤Love You Toby!❤❤❤❤❤Knowledge is Power Freedom and Quality of Liberty & Life!
Knowledge isnt crap if you cant apply it to the real world💯
I will tell you... I love your content big time. Long term fan. I hate number 3. I always feel like a loser no matter what. Ive failed at number 7 so many times but I need it. Number 8 is no good in my state. Number 4 I need more doors. I still have to write a bunch of covered calls and puts to make it. I really want to be more tax efficient though
Some states have Estate tax at much lower limits. MA is brutal.
Florida is where you want to be
I'm a little fish ($500K in liquid assets). I make $120K and hope to sell a $1M house and retire in 1 year. I will probably take $800K from the house sale. My question is, "Which of these 10 make the most sense for me"? Which ones have the best benefit / cost ratio given my situation? Great video as always - keep 'em coming.
👍 love all your videos! 🇺🇸 Happy independece day!
Tax free bonds at5%. Is double that when you consider your top bracket and State tax, and additional income might
Push yourself into even higher tax but. The stock market struggles get 10% return and dividends are taxed
Happy New Year 2025 to you !
I really appreciate learning from your videos and wisdom.
Could you please confirm and elaborate on the loss harvesting and paying capital gain rates could only happen in the brokerage account, NOT from regular IRA tax deferred traditional account , which I moved from my old job to one of the financial institutions.
Thank you 🙏
I am interested in learning more about charities. It is rarely talked about beyond the simple donation.
That's a fantastic interest. Reach out to my team to get started. Visit: aba.link/8rx
Toby how much does it cost to have your help in all this
I would recommend setting up a free consultation with my team. aba.link/8rx
Its the IRS filling there quota with the simplist audits
I'm retired how to get around paying tax on interest income? Thanks sold home waiting to buy when market dips.
I appreciate your great ideas and content.
Looking forward to becoming a client someday.
Bravo.
Great advise and ideas. most of them are new to me. Thank you
Glad it was helpful!
I assume etf btc would be different, wash rule would apply
Which UA-cam channel is the Toby in Canada?
Please deep dive in Charities: can a day trader be an employee of his/her own charity, but as charitable work do day trading or long term investing for his/her own charity, while truly giving the proceeds to various churches or other good causes like veterans, single moms, recovery centers?
Stay tuned! I'll have a video released this Friday about charities.
this is awesome.
The oil and gas interest in news to me
Never heard of oil gas... what is that??
Do you think a General Contractor qualifies as a real estate professional ?
Theres no wash rule on crypto?
Great vid, many thanks!
Favorite channel on youtube.
Interested in knowing more about Loss Harvesting and Real Estate protection for multi unit owner. Great video
Feel free to reach out to my team to learn more about real estate asset protection. aba.link/8rx
Wow! This is great information.
Now that I have reached a high income, I started paying close attention to the amount going out in taxes.
There is so much I need to learn. I thought all whole life policies were bad, so I never took time to learn about them.
I also thought bonds underperformed, so I never considered tax-free munis.
Lastly, I would like to know more about donations and foundations for tax avoidance.
Thanks.
THANK YOU Toby!
Trying to connect with your firm.
You're a God sent.🌞✝️🙏
please deep dive in Loss Harvesting for traders/investors ( short-term/long term) of various kinds of assets such as forex currencies, index futures, stocks, crypto, etc...can short term traders ( day traders, swing traders) also take advantage of Loss Harvesting?
Excellent stuff!
I don't get it. Bought a house for 90K, worth 315K and assumed it was paid off when you donated it and got a 120K write off. What happened to the other 95K?
I'm pretty sure that was the tax savings in his example, not the write-off amount.
You donate the house only after 27.5 years of taking depreciation.
I am a big fan of your videos. Thank you, Toby.
Glad you like them!
Best channel for big wrinkle forming! Thank you Toby and God Bless!
The one I am the most interested in is the Charitable Trusts/Charitable Remainder Trusts and how that might be used if you have a special needs child.....
Thanks for this Info
Great videos. Real information one can actually use. Education is power. Thanks for sharing these!
Thanks for watching!
So what are tax deferred assets
Hey, you should check out this blog to get a better understanding. andersonadvisors.com/tax-free-vs-tax-deferred-tax-planning/
Whole life insurance should be the first place the money goes. Then use the cash value to buy other assets.
ask Dave Ramsey about that
@ericdahl2915 why? Pretty sure we know what he's gonna say.
Budapest , Hungary
1031 Exchange is the most commonly used by the ultra rich ...
The 1031 Exchange can be a powerful tool for real estate investors.
Thank you very much Toby. What you’re doing is GREAT. We hope having more helpful people like you Toby. We thank you.
I appreciate the support
I do fund mt PUA's in my whole life with money from my C Corp that i take out and put into my Heloc.( I do use credit cards for business expenses)
That heloc i use to pay business real estate taxes and insurance. I then turn around and take policy loans and loan it to the business so it can pay off credit cards.
The business then pays me back the loans on a monthly basis with the same interest as the credit cards would charge.
Is this method beneficial?
@Toby - Hi. I had heard of all of these strategies but I was able to learn a little more on Loss Harvesting and Tax Free Bonds. I love your content and my favorite strategy that I am working really hard a this moment is to build a Real Estate portfolio.
Glad it was helpful!
Toby, thank you for all the education.
You are God's blessings to all of us.🙏✝️🌞
What up Coach Toby!!
Welcome back =)