How To Avoid Paying Taxes...Legally

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  • čas přidán 21. 03. 2023
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Komentáře • 286

  • @deathbyvanity1955
    @deathbyvanity1955 Před rokem +1541

    Don't hate the player, hate the game

    • @treek10k
      @treek10k Před 11 měsíci +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 Před 11 měsíci +6

      @@treek10k all hail greninja, amen

    • @EnergyWRLD
      @EnergyWRLD Před 10 měsíci +3

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

    • @MackDaddyVic
      @MackDaddyVic Před 9 měsíci

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

    • @dracozain1023
      @dracozain1023 Před 5 měsíci +1

      ​@@EnergyWRLDa fellow darkviperau enjoyer😂

  • @zimzob
    @zimzob Před rokem +1077

    “Taxes are for little people.”

    • @benchoflemons398
      @benchoflemons398 Před rokem +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 Před 11 měsíci +78

      @@benchoflemons398the math ain’t mathing

    • @treek10k
      @treek10k Před 11 měsíci +6

      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 Před 8 měsíci +16

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

    • @benchoflemons398
      @benchoflemons398 Před 6 měsíci +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 Před 6 měsíci +402

    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 Před 5 měsíci +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 Před 5 měsíci +2

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

    • @NoahM1040
      @NoahM1040 Před 5 měsíci +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 Před 5 měsíci

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

    • @MikeAveli.
      @MikeAveli. Před 4 měsíci +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 Před 6 měsíci +240

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

    • @inalaska1208
      @inalaska1208 Před 5 měsíci +19

      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 Před 5 měsíci +16

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

    • @finleywhelton5366
      @finleywhelton5366 Před 5 měsíci

      @@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 Před 5 měsíci +7

      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 Před 4 měsíci +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 Před 4 měsíci +146

    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 Před 4 měsíci

      Did you take a course? For your accounting

    • @garretth1212
      @garretth1212 Před 4 měsíci

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

    • @garretth1212
      @garretth1212 Před 4 měsíci

      @@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 Před 4 měsíci

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

    • @daedaluxe
      @daedaluxe Před 4 měsíci +23

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

  • @anthonyhenryhoover9278
    @anthonyhenryhoover9278 Před 5 měsíci +79

    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 Před 4 měsíci +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 Před 4 měsíci +5

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

    • @sickomode6440
      @sickomode6440 Před 2 měsíci

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

  • @Wiskerbiscuit
    @Wiskerbiscuit Před 5 měsíci +32

    IRS has entered the chat

    • @riyazrhi4136
      @riyazrhi4136 Před 5 měsíci +13

      And then they left because it was a grey area

    • @Wiskerbiscuit
      @Wiskerbiscuit Před 5 měsíci

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

  • @bartjsimpson
    @bartjsimpson Před 5 měsíci +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.

  • @justsaying3899
    @justsaying3899 Před 4 měsíci +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

  • @Camille2686
    @Camille2686 Před 5 měsíci +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.

  • @conversationswithme8601
    @conversationswithme8601 Před 8 měsíci +12

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

  • @ShellysMillions
    @ShellysMillions Před 4 měsíci +3

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

  • @Natescoop8800
    @Natescoop8800 Před 4 měsíci +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 Před měsícem +2

      You are been robbed my friend,quite clear.

    • @KateLate____
      @KateLate____ Před 10 dny +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 Před 4 dny

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

  • @RMwhite
    @RMwhite Před měsícem +17

    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 Před měsícem +1

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

    • @franko8572
      @franko8572 Před 19 dny

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

  • @user-tu1wv6gd8o
    @user-tu1wv6gd8o Před 4 měsíci +3

    PTET baby!

  • @lilchernovevo
    @lilchernovevo Před 3 měsíci +1

    Fck those taxes

  • @ralBurebsuos
    @ralBurebsuos Před 4 měsíci +4

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

  • @ThatRandomFinanceGuy
    @ThatRandomFinanceGuy Před 4 měsíci

    It’s the PTET - Pass Through Entity Tax

  • @anamarianeri
    @anamarianeri Před 5 měsíci

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

  • @grubsrealm6549
    @grubsrealm6549 Před 29 dny

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

  • @mattjohn6819
    @mattjohn6819 Před měsícem +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 Před měsícem

      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.

  • @calebgoforth9203
    @calebgoforth9203 Před 4 měsíci

    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

  • @Olliethegolden
    @Olliethegolden Před 5 měsíci +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 Před 5 měsíci

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

    • @Olliethegolden
      @Olliethegolden Před 5 měsíci

      @@JeshieWafflez can’t do that

    • @JeshieWafflez
      @JeshieWafflez Před 5 měsíci

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

    • @jameslaurensvn
      @jameslaurensvn Před 4 měsíci +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.

  • @thebestthingthatneverhappe6729

    had 5.5 mil taxable income in 2022 great job Lewis

  • @ns6095
    @ns6095 Před 4 měsíci

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

  • @infini.tesimo
    @infini.tesimo Před měsícem

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

  • @josiahwagner7411
    @josiahwagner7411 Před 5 měsíci +9

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

  • @codyglassett3065
    @codyglassett3065 Před 4 měsíci

    In Utah it’s called a salt payment

  • @Thomas-sv4ii
    @Thomas-sv4ii Před 2 měsíci +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!!

  • @Dashikardashian
    @Dashikardashian Před 4 měsíci

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

  • @freewillchoice8052
    @freewillchoice8052 Před měsícem +4

    That tells you taxation is in general fraudulent

  • @ryukirito2616
    @ryukirito2616 Před 4 měsíci +17

    This is why a flat tax is needed

    • @nicolasgirard2808
      @nicolasgirard2808 Před 3 měsíci +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 Před 6 měsíci +9

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

    • @yungslimeto35
      @yungslimeto35 Před 5 měsíci

      Lol.

    • @RK-bx1by
      @RK-bx1by Před 5 měsíci +1

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

    • @Ngan-zy9kd
      @Ngan-zy9kd Před 5 měsíci

      @@RK-bx1by HE ADMITS HE'S A HIGH SCHOOL GRAD and MANY CZcamsrs 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:)!

  • @SekitendeJulius
    @SekitendeJulius Před 16 dny

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

  • @christo138
    @christo138 Před 4 měsíci

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

  • @tbone50515
    @tbone50515 Před 5 měsíci +1

    CPA no do it yourself

  • @vivianledonghae4eify
    @vivianledonghae4eify Před 5 měsíci +1

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

  • @crikxouba
    @crikxouba Před 3 měsíci +1

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

  • @JM21999
    @JM21999 Před 2 měsíci +1

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

  • @user-rj9cm6sm8q
    @user-rj9cm6sm8q Před 5 měsíci +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 Před 4 měsíci +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

  • @mrunlmtd
    @mrunlmtd Před 5 měsíci +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?????

  • @Somethingwittyxs4ku
    @Somethingwittyxs4ku Před 5 měsíci +1

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

  • @LifestyleApparelBrands

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

  • @Resident1157
    @Resident1157 Před 5 měsíci +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 Před 5 měsíci +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 Před 5 měsíci

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

  • @logic_and_fitness9421
    @logic_and_fitness9421 Před 4 měsíci +12

    How California citizens havnt taken their govt out yet is wild

    • @lolismee_175
      @lolismee_175 Před 4 měsíci +1

      They’re too busy crying about gay rights and

    • @realbusines
      @realbusines Před 3 měsíci

      @@lolismee_175 lol

    • @joeyharper4976
      @joeyharper4976 Před 3 měsíci

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

    • @dubjubs
      @dubjubs Před 2 měsíci

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

  • @devincase3091
    @devincase3091 Před 3 měsíci

    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 CZcams 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

  • @BlueCoore
    @BlueCoore Před 5 měsíci +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 Před 5 měsíci

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

    • @BlueCoore
      @BlueCoore Před 5 měsíci

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

    • @TEXLIFE
      @TEXLIFE Před 4 měsíci

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

  • @MikeAveli.
    @MikeAveli. Před 4 měsíci

    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.

  • @whasian2007
    @whasian2007 Před 5 měsíci

    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

  • @TrueWealthFinancial
    @TrueWealthFinancial Před 4 měsíci

    ❤❤❤

  • @jayspetsnaz
    @jayspetsnaz Před 5 měsíci +1

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

  • @Anonymous8317
    @Anonymous8317 Před 5 měsíci +1

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

    • @barbarakeyser6415
      @barbarakeyser6415 Před 5 měsíci +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 Před 4 měsíci +1

    Oh Im hating the game alrighty

  • @Dan-codes
    @Dan-codes Před 5 měsíci +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.

  • @MateaAccount
    @MateaAccount Před 10 měsíci +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 Před 9 měsíci +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!

  • @gregorygan2077
    @gregorygan2077 Před 6 měsíci +3

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

  • @cupra2Jock.
    @cupra2Jock. Před 5 měsíci

    Pay ya self dividens kid

  • @mooncloud6563
    @mooncloud6563 Před 4 měsíci

    Get that guy for tax evasion!

  • @hgdm89
    @hgdm89 Před 15 dny

    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.

  • @inalaska1208
    @inalaska1208 Před 5 měsíci

    Get a good cpa business taxes are very grey

  • @anthonyjames4319
    @anthonyjames4319 Před 4 měsíci

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

  • @jhoeh4672
    @jhoeh4672 Před 4 měsíci

    RIP shinzo abe

  • @jesserobinson6210
    @jesserobinson6210 Před 4 měsíci

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

  • @ChipAlum
    @ChipAlum Před 5 měsíci

    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

  • @Alv11011
    @Alv11011 Před 4 měsíci

    Everyone should read tax free wealth by tom wheelwright

  • @dlw3m
    @dlw3m Před 5 měsíci

    just move to Texas

  • @ZephyrusTheReal
    @ZephyrusTheReal Před 5 měsíci +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 Před 5 měsíci

      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 Před 5 měsíci

      @@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 Před 4 měsíci

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

    • @Jack-jp6ki
      @Jack-jp6ki Před 4 měsíci

      ​@@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 Před 4 měsíci

      @@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.

  • @Brismo7
    @Brismo7 Před měsícem

    RIP ABE

  • @jayjohnson5813
    @jayjohnson5813 Před 5 měsíci

    Just get a Former EA

  • @FutureLaugh
    @FutureLaugh Před 7 měsíci +12

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

  • @GRN764
    @GRN764 Před 5 měsíci +1

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

  • @KindnessForTheSoul
    @KindnessForTheSoul Před 6 měsíci +1

    Tax reclaim on buissiness expense

  • @helena3631
    @helena3631 Před 4 měsíci

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

  • @EtreBritta93
    @EtreBritta93 Před 4 měsíci

    Bro how much is he making gross salary then jesusssss 😂

  • @colerutledge1782
    @colerutledge1782 Před 4 měsíci +2

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

  • @Iburn247
    @Iburn247 Před 4 měsíci

    Pass thru tax

  • @Eggy79
    @Eggy79 Před 4 měsíci

    But why would anyone want to avoid taxes

  • @doboy.q4838
    @doboy.q4838 Před 3 měsíci

    saul goodman

  • @jonmaster714
    @jonmaster714 Před 5 měsíci +4

    Easy answer. Move to Nevada 😂

    • @taygodly
      @taygodly Před 5 měsíci +1

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

    • @jonmaster714
      @jonmaster714 Před 5 měsíci +2

      @@taygodly Reno local here. Already has 😂

    • @netc.5809
      @netc.5809 Před měsícem

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

  • @arshammirshah
    @arshammirshah Před 5 měsíci +1

    It’s called “pass through entity” or PTE for short

  • @DrakeKillah
    @DrakeKillah Před 4 měsíci

    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 Před 4 měsíci

    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 Před 3 měsíci

      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 Před 3 měsíci

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

    • @metalrooves3651
      @metalrooves3651 Před 3 měsíci

      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

  • @Robbie64
    @Robbie64 Před 19 dny

    Flat tax

  • @nikki09918
    @nikki09918 Před 5 měsíci

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

  • @wwabbd1987
    @wwabbd1987 Před 4 měsíci

    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 Před 4 měsíci

      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.....

  • @veelowmuymalo7258
    @veelowmuymalo7258 Před 5 měsíci

    Just saved him $275 K

  • @stephenhermosillo5039
    @stephenhermosillo5039 Před 4 měsíci

    Its not insane it's quite sane actually

  • @Sashaboss359
    @Sashaboss359 Před 5 měsíci

    Made $400 k this week probably and crying about taxes

  • @_andrewpeters
    @_andrewpeters Před 4 měsíci

    PTE tax! It’s legit

  • @amythomspon956
    @amythomspon956 Před 4 měsíci

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

  • @fotisvon9943
    @fotisvon9943 Před 4 měsíci

    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

  • @amyx231
    @amyx231 Před 6 měsíci +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 Před 5 měsíci

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

    • @amyx231
      @amyx231 Před 5 měsíci +1

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

  • @DFWTX
    @DFWTX Před měsícem

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

  • @jesselin1665
    @jesselin1665 Před 4 měsíci

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

  • @peanbean1973
    @peanbean1973 Před 5 měsíci

    If you spend all the money they cant take it

    • @TEXLIFE
      @TEXLIFE Před 5 měsíci

      And how would you?

  • @Unduplicatable
    @Unduplicatable Před 5 měsíci

    I pay more in taxes than most rich people.

  • @NickThiller
    @NickThiller Před 4 měsíci

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

  • @gary_neilson1896
    @gary_neilson1896 Před 5 měsíci

    Bro is mad because he has a super expensive lifestyle.

  • @Denali_Rebel
    @Denali_Rebel Před 5 měsíci

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