K1 is simply a dividend paid out by a partnership or limited partnership. If you have a W2 income your K1 will be taxed at your additive income rate. The way the wealthiest people do not pay a high percentage in taxes (the wealthiest 10% in the United States pay 74% of the total tax collected, by the way) is because they have hundreds of millions or billions of dollars in investments and simply take out loans against those assets. They never realize those assets so they do not have to pay taxes on the gains. Depending on the volatility of the investment banks will often loan 10-50% of the invested sum and the extremely wealthy use this money to live, tax free. They do have to pay interest on these loans but this was very beneficial when interest rates were at 2-3%.
All great points, but I would highlight K1s can take advantage of depreciation to offset the taxes on distributions, which is not the case for a dividend paid out by a REIT.
Interesting how all black people are in one group but Asians are not. Black immigrants like Nigerians, Ghanaians, Jamaicans, Bahamians average more than $36K lol. Great video overall, goes to show you it's not about race, it's about mindset and culture. Well done Uncle G.
The most common issue is no leverage. So whatever provides some kind of leverage is better than earned income which is created by your time in exchange of money. For a common employee, this is really difficult. I am not doing Real Estate, I own two companies, this provides good leverage. But I can imagine that your Real Estate focus is a good option for normal employees as well.
😨SERIOUSLY THOUGH! With high market values and relatively high interest rates, how would a first time real estate investment buyer compete with local rental prices that are most likely going to be much lower than what the mortgage alone would be on the investment property?
@@brenroko3649 Yes, I have. I realized that if I were in a similar position, I would continue earning money being successful AND earn even more money teaching others my techniques. After all, there’s enough money to lift up others, as I climb. ALSO, I have stopped to wonder WHY someone would waste time in the comment section to discourage others against SIMPLE information⁉️. Have you been defrauded by GC❓. If so, Please let me know! Here, we are just being given information. If you’ve been cheated though, that would be pertinent information.
K1 is simply a dividend paid out by a partnership or limited partnership. If you have a W2 income your K1 will be taxed at your additive income rate. The way the wealthiest people do not pay a high percentage in taxes (the wealthiest 10% in the United States pay 74% of the total tax collected, by the way) is because they have hundreds of millions or billions of dollars in investments and simply take out loans against those assets. They never realize those assets so they do not have to pay taxes on the gains. Depending on the volatility of the investment banks will often loan 10-50% of the invested sum and the extremely wealthy use this money to live, tax free. They do have to pay interest on these loans but this was very beneficial when interest rates were at 2-3%.
Uncle G . Brilliant.🙏
All great points, but I would highlight K1s can take advantage of depreciation to offset the taxes on distributions, which is not the case for a dividend paid out by a REIT.
Great information Thank you!
GC is a living legend
KEEP giving the money tips
Thanks
Good
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
Wow! Kind of in shock you mentioned expert,elizabeth ann graney. what a coincidence!!
I have heard a lot of wonderful things about Elizabeth Ann on the news but didn't believe it until now. I'm definitely trying her out...
I use to work 3 jobs, full time at Walmart, a
server at night and Lyft on the weekend,
untill Elizabeth Ann graney change my story.
How can I get In touch with her????
Thank you
on point my friend!
Interesting how all black people are in one group but Asians are not. Black immigrants like Nigerians, Ghanaians, Jamaicans, Bahamians average more than $36K lol. Great video overall, goes to show you it's not about race, it's about mindset and culture. Well done Uncle G.
The most common issue is no leverage. So whatever provides some kind of leverage is better than earned income which is created by your time in exchange of money. For a common employee, this is really difficult. I am not doing Real Estate, I own two companies, this provides good leverage. But I can imagine that your Real Estate focus is a good option for normal employees as well.
Sadly, even a job is not as secure as it once was, especially these days!!!
I'm learning Daddy 🙌🔥
It is more profitable to be a go-giver rather than a go-getter.
#Success
😨SERIOUSLY THOUGH!
With high market values and relatively high interest rates, how would a first time real estate investment buyer compete with local rental prices that are most likely going to be much lower than what the mortgage alone would be on the investment property?
$550,000 weekly passive income 📈
Where is the video that you promised (10 cheapest cities of the U.S.)?
Convert your 1099 income to K1 income in 2024...
😌🔥
K1…. This is game changing information! Thank you. ❤
You ever stop and think, tgat if it was so successful , he would just do it himself, and not charge people tens of thousands of dollars in seminars ?
@@brenroko3649 Yes, I have. I realized that if I were in a similar position, I would continue earning money being successful AND earn even more money teaching others my techniques. After all, there’s enough money to lift up others, as I climb.
ALSO, I have stopped to wonder WHY someone would waste time in the comment section to discourage others against SIMPLE information⁉️. Have you been defrauded by GC❓. If so, Please let me know! Here, we are just being given information. If you’ve been cheated though, that would be pertinent information.
Who sends you the K1?
You generate it through your corporate structure or the general partnership issues it at tax time.
Lol
So of you know all this, just go and do it.. Why are you trying to sell seminars if it works?
Trump did the same B.S. 20 years ago
Great information thank you!