My wife and I have built small but not insignificant investment and real estate portfolios. She is still a W2 earner. This video has been the most informative I've seen yet. I'm working with another content provider's organization and even they have not given me the true understanding of these strategies you've provided. This video alone has solidified my strategy for how to proceed with my estate planning! I'm about to watch it again! Thank you, this was outstanding!
You are the man. I’m have been asking these questions and haven’t gotten any good response until today. I get the same blaa blaa you highlighted. You are a life saver. Great job
Bro. your videos get me so excited. I'm studying trust structures/strategies and this video puts things together for me. Good to see quality information on UA-cam. Good job, Sir. Please keep it up.
So many awesome tax strategies discussed in this video. As always, Karlton is full of knowledge. I like the philanthropic option. If you pay believe in paying tithes to a church, this can be your charitable donation. 😇 Thanks for this golden nugget Karlton!
This was exactly what I was looking for. Recently hit a significant 6 figure mark with a recent promotion and Jesus… losing so much money. PFF is golden .
Hi, Karlton: You have great energy and are charismatic. My concern is that I don't see any educational background or financially-related licenses listed in your "ABOUT" section, such as CFP, CPA, or a license as an attorney or security 7. Would you mind posting this,? or simply explain that you are self-educated.
U can only deduct medical and dental what’s above 7.5% of your AGI So if 7.5% of ur AGI is $5000 and ur medical amounts paid is $5000 there’s nothing to deduct
Wow, I own some SF rentals and I did not know about the difference in having short term rentals in terms of losses. Great information, I need to look more into this.
Great video. I'm not certain that I understand the "Real Estate Professional" concept. I have two Commercial Strip Centers and no "Short Term" Tenants. How do you set up a seven day or less real estate business? Thanks
Karlton, thanks for the very inciteful information! It feels great to have the financial problems I'm dealing with now versus when I was becoming a man! I do have a question, where would you recommend setting up the PFF since I'm more a c charitable person? I will definitely schedule an appointment to discuss our personal situation with you in detail! Thanks for all you do and keep up the great work!!! First of All, Servants of All, We Shall Transcend All!!!
Awesome video! Currently running 3 Airbnbs short term rentals. But currently forced to shut down 2 from the landlord change of ownership. Does that mean the rental income is now a loss for the rest of the year? Can I now deduct that from my w2 nurse wages?
i wil be head of my private family foundation and also of a 501c3 organization. How can i minimize taxes with itemization, real estate, any medical expenses (health insurance??), etc. - 9 figures
QUESTION: KD: I've heard some ppl espouse renting rooms of their investment home by the week. Would this still qualify as a short term rental if the renter continues to stay week to week to week?
But are the tax savings worth the additional effort/capital needed to start and maintain these strategies (managing a trust, running a real estate business)?
I'm a truck driver with rentals. Single (at the moment). Property management company manages my rentals. How could I become designated as a real estate professional? Could I aquire a realtor license?
401K - Everyone suggests to max out one’s 401k. But don’t we eventually have to pay the tax on it later in life when One might not have the energy/capability to earn. Also we don’t know how much tax one might have to pay at that time, it could be higher than what one would have paid today.
You’re videos and others have been extremely helpful. Are you building a network of CPAs that would help for Real Estate Professionals or short term rental investors? Purchased an investment property in 2022 and will be looking for a short term rental in 2023 to help w2 offset and transition to retirement.
I have a very similar question. My W-2 salary is about $100k but I have made about 640k in gain from stock investments, nothing sold yet, can I do the PFF too? I have maxed everything else out.
A round of applaud for the great analysis and breakdown of personal perspective. I woke up to the sad news by FTX. The market circumstances are driving me insane, my portfolio has lost almost $18500 this month alone, my earnings are tanking, and I can't see how my retirement will go smoothly when I can't even increase my stagnating reserve. I wonder whether those who lived through the 2008 crash had it
Thank you for the great information. Is there anything that can be done for 2021 taxes regarding a PFF or CRT or even real estate if it is already 2022?
It's rare that I find a new channel that I love so much that I have to watch EVERY vIdeo....but today is my lucky day!
My wife and I have built small but not insignificant investment and real estate portfolios. She is still a W2 earner. This video has been the most informative I've seen yet. I'm working with another content provider's organization and even they have not given me the true understanding of these strategies you've provided. This video alone has solidified my strategy for how to proceed with my estate planning! I'm about to watch it again!
Thank you, this was outstanding!
Honestly this video is probably the first one I came across that explained things instead of just saying random vague info, thank you!
You are the man. I’m have been asking these questions and haven’t gotten any good response until today. I get the same blaa blaa you highlighted. You are a life saver. Great job
This dude is so awesome! Finally an channel i don’t have to speed up. He is already at 1.5. Gets straight to the point as well. Awesome find for me!
Bro. your videos get me so excited. I'm studying trust structures/strategies and this video puts things together for me. Good to see quality information on UA-cam. Good job, Sir. Please keep it up.
Opened my eyes to ways to combat taxes as I drop out of qualified widower status. Single tax rate really sucks.
Let’s not forget there’s a phase out for the traditional IRA if you want a deduction
I am committed to self-development & thriving.
This right here Karlton?!!!! ALL LIFE CHANGING nuggets! Thank you!!!
Would you do a separate video on tax reduction strategies using trusts and foundations?
Wow! Such great information. I need to research CRTs...very interested!!!
man youre videos are very helpful and eye opening, iv been looking for someone like you for a while and almost lost hope so thank you
So many awesome tax strategies discussed in this video. As always, Karlton is full of knowledge. I like the philanthropic option. If you pay believe in paying tithes to a church, this can be your charitable donation. 😇 Thanks for this golden nugget Karlton!
Nice information… could you make a video regarding applying this strategy to high 1040 income earners vs high w2 earners?
Hey thank you for this knowledge you share. This year we had to pay and just went on with and bow I'm looking for ways to avoid paying taxes.
This was your best video you have made! Impressive teaching. Thats it! I am becoming an EA.
This is literally what I’ve been stressing over, thank you so much
MIND BLOWN. ty for these tips
You’re on another level, love your videos
The PFF is the best route to go.
The analysis on the CRT is off a bit. The deduction is limited to the contribution less the PV of the annuity.
What’s the meaning of: you have control over the foundation? Can I send money to my parents in another country? It’s for medical expenses.
This was exactly what I was looking for. Recently hit a significant 6 figure mark with a recent promotion and Jesus… losing so much money. PFF is golden .
You explain things so clearly. Excellent and thank you.
Traditional IRA doesn’t Lowe your tax bill if you make 500k. You meant IRA then convert to Roth IRA to protect the growth from taxation.
Do you have or can you make a video for someone who is retired (medically from the military), and they win the lottery/ sweepstakes?
He dropping gems! Great video. Thanks for sharing.
Karlton, I am speechless! You are awesome!
Thanks for sharing these strategies typically reserved for millionaires. Our time is now!
Hi, Karlton: You have great energy and are charismatic. My concern is that I don't see any educational background or financially-related licenses listed in your "ABOUT" section, such as CFP, CPA, or a license as an attorney or security 7. Would you mind posting this,? or simply explain that you are self-educated.
So much information in such a short video. Thank you!!!
It’s insane how much I learn watching these. I definitely owe you money KD but I can’t book a consultation through your link 😢
If you have a property management company, but make decisions, how do you capitalize on additional deductions?
If your high income the ira and roth irs doesnt allow you to contribute if your over an certain amount
U can only deduct medical and dental what’s above 7.5% of your AGI
So if 7.5% of ur AGI is $5000 and ur medical amounts paid is $5000 there’s nothing to deduct
Wow, I own some SF rentals and I did not know about the difference in having short term rentals in terms of losses. Great information, I need to look more into this.
Best explained!!! Thanks!
Depreciation not that good for high incone w2...
It goes into bucket for later.
Kinda sucks.
Cool video. What threshold would you consider makes one a “high income” earner? $500,000?
You my friend a very sharp! This is an awesome video!
this dude is NAILS
You don't get tax savings from a traditional IRA if you make 500k per year.
I ain’t going to lie karlton this is like good to me in 2022🥇
Great video. I'm not certain that I understand the "Real Estate Professional" concept. I have two Commercial Strip Centers and no "Short Term" Tenants. How do you set up a seven day or less real estate business? Thanks
I strongly recommend you to see what the guys at Valur are building regarding charitable remainder trusts :)
Karlton, thanks for the very inciteful information! It feels great to have the financial problems I'm dealing with now versus when I was becoming a man! I do have a question, where would you recommend setting up the PFF since I'm more a c charitable person? I will definitely schedule an appointment to discuss our personal situation with you in detail! Thanks for all you do and keep up the great work!!!
First of All, Servants of All, We Shall Transcend All!!!
This was absolutely amazing!
Very thorough presentation! Thank you!
My 308(b) is down almost 5%. Froze it. All my extra money is going to tsla.
Makes sense to me. Thanks! Not there yet but good to know.
What about renting to yourself?
Liked. Commented. Subscribed!
Awesome thanks i love it very honest and thorough!
this is pure gold, thank you for sharing!!
For PFF can you donate 5% to your own 501 (C)?
Awesome video! Currently running 3 Airbnbs short term rentals. But currently forced to shut down 2 from the landlord change of ownership. Does that mean the rental income is now a loss for the rest of the year? Can I now deduct that from my w2 nurse wages?
No,because u don’t own the property. That’s the Tax loophole. This guy is AMAZING ❤️❤️❤️🍹
Landlord gets the deductions not you
How well does this translate to a small business owner?
you speak to us for real .... no shenanigans !!!
Great video! One ?: can other family members contribute to the PFF and get a deduction? thanks for the great work.
IRA(401k + Roth IRA) total contribution is $6000. I made this mistake thinking I have extra $6000 Roth IRA not including my 401k
i wil be head of my private family foundation and also of a 501c3 organization. How can i minimize taxes with itemization, real estate, any medical expenses (health insurance??), etc. - 9 figures
QUESTION: KD: I've heard some ppl espouse renting rooms of their investment home by the week. Would this still qualify as a short term rental if the renter continues to stay week to week to week?
Could I set up a PFF and a CRT and set myself up for 60% taxable income?
Amazing KD! Highly useful.
Also how long is the scheduled one on one phone call? If we schedule one?
I appreciate YOU sooooooooooo much, Karlton!!!!!!
Appreciate you, Karlton!
So can I add a PFF as part of my 501c 3 non profit?
What about paying/investing into IUL's?
if i sell my property now but no property to roll it over to as of yet, how long do i have to avoid capital gain tax?
Great info Karlton!! Thank you!!
Nice! thanks, Karlton!
Can you combine personal business with unrelated compangy earnings
Thanks you are great!!
Thank you for the insight.
But are the tax savings worth the additional effort/capital needed to start and maintain these strategies (managing a trust, running a real estate business)?
What happens to the money in the PFF?
I'm a truck driver with rentals. Single (at the moment). Property management company manages my rentals. How could I become designated as a real estate professional? Could I aquire a realtor license?
401K - Everyone suggests to max out one’s 401k. But don’t we eventually have to pay the tax on it later in life when One might not have the energy/capability to earn. Also we don’t know how much tax one might have to pay at that time, it could be higher than what one would have paid today.
great explanation bro
Can I just setup a consultation with you please? I fall under all your recommendations.
Great video. Thank you!
Can the annuity left over go to a family or childs charity when you die ?
Can I use a pff to buy groceries? Lol large family, 40k per year.
You’re videos and others have been extremely helpful. Are you building a network of CPAs that would help for Real Estate Professionals or short term rental investors? Purchased an investment property in 2022 and will be looking for a short term rental in 2023 to help w2 offset and transition to retirement.
my estimate crypto/stock portfolio will be 1m+ can i use a pff for that? i plan to help pay my family members
I have a very similar question. My W-2 salary is about $100k but I have made about 640k in gain from stock investments, nothing sold yet, can I do the PFF too? I have maxed everything else out.
A round of applaud for the great analysis and breakdown of personal perspective. I woke up to the sad news by FTX. The market circumstances are driving me insane, my portfolio has lost almost $18500 this month alone, my earnings are tanking, and I can't see how my retirement will go smoothly when I can't even increase my stagnating reserve. I wonder whether those who lived through the 2008 crash had it
How do I go about getting you to be my financial advisor and tax guy
Thank you for the great information. Is there anything that can be done for 2021 taxes regarding a PFF or CRT or even real estate if it is already 2022?
This is good bro. Thanks
Great job 🎉
Love love this channel.
can you do both 401k (max ded) and IRA? I thought you coud one or the other
Put in a annuities or IUL’s..?
I love this video! CRT💯💪
Hey Karlton could I have ur video editor video I need a good one?!
Can a 1099 Contractor start and fund a PFF??
Should you do a PFF or CRT if you make less than $500K?
Yes, if you're at highest tax bracket (currently @ 37%)
Mans is the goat 🐐 that’s it
Great job!