3 Tax Strategies That Feel ILLEGAL To Know 🚫🙅🏽♂️
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- Опубліковано 17 тра 2023
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*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
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![How to Use Rental Losses to OFFSET W2 Taxes! [Part 1]](http://i.ytimg.com/vi/1a38vrvO-ko/mqdefault.jpg)
14 days tax free not rent free.
That last one. That’s the icing on the cake right there ….wow no wonder the rich stays richer donating to themselves yet only 5%of contributions are really doing the work.
The Clinton Crime Family Foundation is the most notorious example of this in action. These family foundations are really a great tax strategy, and you don't need a family or to be rich to utilize it lol
Thank you for outlining that for me.
Yeah I need a personal cpa to handle all this
Those pants should be illegal.
Bonus depreciation was huge for qualifying properties . Car related like gas stations, oil change and car washes were eligible for up to 100 depreciation up to 2 years ago. Now in phase out with 60% this year
Do you offer a tax course. Because I suddenly feel interested in sitting in a computer and taking a course of taxes with you! 😂
How do I learn about taxes...as a person with a full-time job and 4-year old twins. From scratch?
If you are interested in learning taxation, recommend an IRS accredited Enrolled Agent course (Wiseguides is good one, approx $700, 3 sections)...can do it on line in your own time...will teach you everything... personal and business taxation...way better than going to school for 5 years to get an accounting degree and a pile of student loan debt...
All true and all a lot more complicated than you make it sound. Also need big bucks or a lot of time to pull the last two off in an substantial way. For the second you have to be a real estate professional which has time requirements, last one only matters if you are dumping tens of thousands of dollars. But all good points and worth looking into. 😊
He never said that it was easy, lol and if actually listed them from easiest to hardest, cheapest to costly.
Cant u just pay someone to do the second one for you..?
@@trevorweinbrecht7142 That would be cool, I haven’t heard of how to make that work. Please share.
Thank you
do you have to be a real estate professional to benefit from a cost segregation study? No I believe you are wrong stackingsurfer, yo udont need to.
Great info like always. Thank you
Great information thank you 🙏
Gigantic information 🎉
You have to actually use the house for business. You have to them pay yourself out of the corporation (or business as you seem to use the word corporation for no reason). You have to also support the rental cost with reasonable comps.
This is Amazing!!! 🎉❤🎉
Great information!!
Enjoy your audits!
😮😮😮😮😮. I KNEW THAT THERE SOMETHING BWHIND ALL THESE BIG COMPANIES HAVING FOUNDATIONS, I JUST DIDNT KNOW WHAT IT IS BUT I WENT AHEAD AND SET UP A FOUNDATION SOMETIME AGO!!!
Do you have the non profit that you do the 5% with
Jesus Christ I pray for my people
He's so fine, I'm distracted. I'll have to revisit this later 😂
Like all your videos !!!!
Great insights!
Daaaang Karlton I didn't realize you were jacked like that
I own an accounting / tax firm. This is not 100% accurate.
On a surface layer he just defined what these are but once you get into the details, these scenarios are specific to the individual and a lot of pieces have to align for these to work.
Ahaa thnx
looks like a lot of conditions to meet these criteria
I take your advice before listening to this TikTok tax “strategist” 😊
Wow good to know. When I get huge money I know who to call, YOU!!! Thanks
U getting swole 💪🏿
Do you have a cpa you recommend out of Arizona?
Tax Goddess Business Services
Omg I love you 😍 you got a sub 😊
i've been subbed for a while now. for a long time none of your vids were showing up in my feed. kind of interesting that the year ends, people start thinking about taxes and now you pop up. although idk if it would really help for last year, maybe it's meant for ppl to start thinking about this year
🔥🔥
awesome thx
Did Jimmy Carter help push through the Augusta Rule?
You're a legend
Ohhh that third one sounds perfect! 👀👀👀👀
Private family foundation?
Where can I learn everything you know
Do you have any longer form videos that explain this in more detail? ❤❤
Call a CPA in your area. It's much more complex than he pretends
@@joeatch2 I’m sure you’re right. Thank you. 🙏
🔥🔥🔥🔥🔥
Sorry my CPA
What course or path can we start taking to learn everything you know
Recommend an IRS accredited Enrolled Agent course.
With the Augusta Rule, do we have to issue ourselves a 1099-Nec
Is this in your book? Please provide the name of it.
All 3 are 💎💎💎
Cost seg is the #1 but you’ll almost never get to depreciate 100% in year 1
Cost segregation is useless for most real estate investors. Most people have too much income to take the losses
@@joeatch2 not sure what you mean here
Can I do this if I own a Co-Op?
Full time student, can I claim the $$$ I spent on gas and all the school supplies when
Yeah I feel like Patrick star hearing this stuff lol
I have one rental property and a personal property. Can I rent them both?
@karltondennis - Isn't avoiding taxes not allowed due to GAAR rules? I know the difference between tax evasion & avoidance - but has regulation closed down the ability to avoid taxes? Would really appreciate you clarifying this! 🙏🏻
🆘
Avoid Taxes, Don't Evade Them! 😂
Irs create so many crafty ways to steal money
The rich know all these loopholes
So you can donate 20k to the foundation and keep 19k? But you’ve lowered your tax bracket and tax liabilities? Does the money have to stay in the foundation for a certain amount of time?
Like can you donate 20k on 12/31 and take 19k out 1/1 the next year?
No, it has to stay in the foundation and be spent either as investment or the foundation’s own expenses, if for whatever reason the foundation is dissolved, its assents don’t go back to the donor, they have to be transferred to another non profit
Wow can’t wait to live rent free 14 days a year
14 per month or per year?
Guys, realize under these financial “loophole” posts it’s a slew of people that all look like us feeling like we just figured something out. When really it’s just jargon and working in finance I hate that guys like this exist because his whole m.o is monetizing the content, if he had money the likes of the people he’s around this is common knowledge.
WE NEED CAPITAL for any of this to even be relevant, there’s no “trick” the people that use these advantages is because they have already acquired millions of dollars that they want to strategically pay taxes on. I’m seeing comments under here like this is some gotcha from people who I guarantee only file a w2, blind leading the blind.
Love it big dawg! 🔥 People sleeping on the last one! 😯 🔥🔥
Bro I need you to me my coach and do my taxes
How to become a millionaire on a politicians salary.
14 days does what? Seems like not alot
You should've already learned these in school and/or the real world. How do these feel "illegal" to know? What is up with vid "creators" and their puffery?
it might be legal...but quite...uhm better not say.
How to get audited 101
Have money to get tax breaks. Got it.😢
👍👍
Well unless you file a document like some famous breast charities only give 0.25
Too bad it takes $500,000 to start a private family foundation
14 out of 365 not too good
Did someone notice that he never replies to comment? Me thinks he’s making his money with YT comments algorithm. 😊
Umm 🤔, will be contacting you soon!!!!
Private Family Foundation
This cannot apply the way my limited understanding comprehends. So, if I work for a 501c3 and donate all of my income to the foundation, the foundation pays back as an employee and I only pay 5% to another 501c3????? Can't be I have to have a misunderstanding.
Augusta Rule
So, I can rent my home for 14 days a month to my job a 501c3 rent free $0 monthly and write of the loss???
Are you a CPA?
If an LLC isn't under your Social Security number and it's under a employee ID number, is a person basically 100 percent not linked to the business ?
Buddy, are you telling me that my entire family can pool our money into a tax-exempt "Family Foundation" and we only have to donate 5% to another charity. So our tax bracket is effectively only 5% for the year? Is this right?
Bruh what you been eating? You should be giving tax and training tips.
‼️‼️‼️🤾🏽♀️
You make it sound so simole
Another misleading video. It’s not technically incorrect, but you are leaving out lots of context.
Don’t listen to this bozo or you’ll end up in jail.
How so?
I like steroids
But if you're a former US president, then you're not allowed to take advantage of these perfectly legal tax loopholes because that would make you a greedy ass grifter. Anyone else, ok, you're fine. Because, rules for thee, not for me.
Bro you are a Legend.
🫡💐
so misleading...