4 Strategies To BEAT Year-End Taxes w/ Karlton Dennis

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  • čas přidán 25. 10. 2023
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Komentáře • 62

  • @Urla..
    @Urla.. Před 8 měsíci +77

    Increasing tax rates are the reason I rolled over my 401k to a Roth. I don’t want to be 59 paying taxes on current income on withdrawals made from my retirement account.

    • @RafetMert-qs3kw
      @RafetMert-qs3kw Před 8 měsíci +2

      Pre-tax contributions may help reduce income taxes in your pre-retirement years while after-tax contributions may help reduce your income tax burden during retirement.

    • @HermanOberg
      @HermanOberg Před 8 měsíci +1

      Both have their perks but you can also save for retirement outside of a retirement plan, such as in an individual investment account or employing the services of a retirement planner/investment advisor.

    • @Urla..
      @Urla.. Před 8 měsíci +1

      I have thought about it, but haven't figured out how to get consultation, I don’t live in a big city.

    • @Urla..
      @Urla.. Před 8 měsíci +1

      What is her fee structure like? Are her services available to about anyone? Can you share more details?

    • @bradlucass
      @bradlucass Před 8 měsíci +1

      Impressive, I took a look at your advisr. I set up an appointment. I’m looking forward to her reply, I hope she sees my message.

  • @user-cario
    @user-cario Před 9 měsíci +26

    Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 7k in March 2023...

    • @essalvadormata4352
      @essalvadormata4352 Před 9 měsíci +4

      I'm new to investing, can you guide me on how you do it?

    • @user-cario
      @user-cario Před 9 měsíci +3

      I engage in various prolific investments by compound interest & leveraging and as well operating with an investment professional, Charles Lucas. So far, I've attained returns over 12k this month.

    • @robhochsteindickey1269
      @robhochsteindickey1269 Před 9 měsíci

      Wait are you trying to say he's too good and I can trust him because I've lost quite a good number of coins in the current dip, just hope I find a way to recover from such a massive loss.

    • @camilacarlos9030
      @camilacarlos9030 Před 9 měsíci +5

      Yes, his name is Charles Lucas.
      I'm from Australia I used to take loan from the bank for surviver but after trading $2k with Mr. Charles he changed my financial status for real. Most people think investing in crypto is all about buying coins and leaving it to rise, come on, it takes much analysis to be a successful crypto trader. Allow a good professional trader to handle your trades, with a little capital you...

    • @tracylilian1886
      @tracylilian1886 Před 9 měsíci +5

      I saw a lot of this and thought it was all lies, not until I texted him and had a few conversations with him that made me invest $2,000. After that, I'm proudly one of his investors.

  • @creedsmith134
    @creedsmith134 Před 9 měsíci +4

    These dudes seem cool as hell lol! Idk why but whenever I watch Mark and Karlton, I wanna hangout with them

  • @AmericansBee
    @AmericansBee Před 6 měsíci +1

    Wow, I'm glad to hear you're from the TriCities. I'm in Kennewick. Awesome videos. I just formed an LLC and applied for the St. business license.

  • @justinsilo
    @justinsilo Před 9 měsíci +15

    Two of my favorite tax strategist. You guys should do more shows together.

  • @paul4pres08
    @paul4pres08 Před 9 měsíci +1

    To add my tip, on top of these tips, … sign up for (AND USE) a biz credit card with a high sign up spend bonus to purchase that very same office equipment mentioned in the video… getting all of those tax benefits and then even getting $900+ back as a card spend bonus ;) (or airline miles for that matter.. w/e your flavor)

  • @MrJoeCaffeine
    @MrJoeCaffeine Před 9 měsíci +2

    LOVE YOU GUYS!!!

  • @amaligio
    @amaligio Před 7 měsíci

    Love, love, love the energy in this collab! Lots of gold nuggets, as always!

  • @tuanshomes
    @tuanshomes Před 4 měsíci

    So much good strategies! Love it!

  • @hectora.vasquez3281
    @hectora.vasquez3281 Před 9 měsíci

    Great stuff... thank you!.......

  • @synergy90t
    @synergy90t Před 9 měsíci +1

    Great episode guys!

  • @anujgupta9293
    @anujgupta9293 Před 9 měsíci +1

    Both of my favorite

  • @lunamorris2091
    @lunamorris2091 Před 8 měsíci

    Your content helped me a lot to take my doubts, thank you very much

  • @Locum-ms6gd
    @Locum-ms6gd Před 8 měsíci

    I love these guys!!!

  • @user-nm7wb6we5s
    @user-nm7wb6we5s Před 9 měsíci +1

    Why am I just finding your channel!! I would love your help/advice or maybe another video idea. You have amazing videos on IRAs. With me at 52 and retired and don’t have any earn income coming in. But have big cash that I will be soon investing in the market. What are some tricks to be able to use a Roth IRA. Especially at my age to be able to catch up before 59.5 years old?

  • @leonliang3030-1
    @leonliang3030-1 Před 9 měsíci +1

    does IRS have limition on car depreciation? what i remember is $19,200 max in 2023?

  • @ELIMindfulInvestor
    @ELIMindfulInvestor Před 9 měsíci

    Please do more ESA and how we can get loans from our solo 401k

  • @Jeff-gt2xu
    @Jeff-gt2xu Před 9 měsíci +1

    The day after guys???? Wouldn't that make you "Plan B" just by definition?

  • @victoriastathis6677
    @victoriastathis6677 Před 9 měsíci +1

    Excellent discussion. Thank you!

  • @brutewarrior
    @brutewarrior Před 9 měsíci

    "fair share" lol good one

  • @IceTeaMan022
    @IceTeaMan022 Před 9 měsíci

    how does the auto bounus deprecation with a 6000 lb truck at 80k work if you are an LLC and you dont make more than 80k in the llc, I do have w2 income > 80k from my day job

  • @aljenabi3230
    @aljenabi3230 Před 9 měsíci

    If i make less than 10 k off my llc but 235k off my w2 , then should keep llc not conv to S?

  • @bolan2usa
    @bolan2usa Před 9 měsíci

    Can you still contribute to a solo Roth 401K if I already max out in my company 401K?

  • @clubimage801
    @clubimage801 Před 9 měsíci

    Don't you still have to pay and withhold Social Security and Medicare when you pay your child a salary?

  • @mymoneyskills
    @mymoneyskills Před 9 měsíci

    Thank you for this! Question: if you put your kids on payroll, do you have to pay unemployment insurance for them? In Wyoming, they make you pay it and they don't allow an exemption for them. 😞

    • @tgere79
      @tgere79 Před 9 měsíci

      I'm not an advisor, but what if you 1099 then instead?

  • @richardbryanesq
    @richardbryanesq Před 9 měsíci

    Teenagers know everything. Too funny!!

  • @angieharris8015
    @angieharris8015 Před 9 měsíci

    The next best thing is an FSA, for those who love their Cadillac insurance (like I do).

    • @CC-te4jz
      @CC-te4jz Před 9 měsíci

      What’s Cadillac insurance?

    • @angieharris8015
      @angieharris8015 Před 9 měsíci

      @@CC-te4jz It's a traditional employer-sponsored health plan (whether it be a PPO or HMO insurance).

    • @angieharris8015
      @angieharris8015 Před 9 měsíci

      Informally, a Cadillac plan is any unusually expensive health insurance plan, usually arising in discussions of medical-cost control measures in the United States.[1][2][3][4] The term derives from the Cadillac automobile, which has represented American luxury goods since its introduction in 1902,[1] and as a health care metaphor dates to the 1970s.[1] The term gained popularity in the early 1990s during the debate over the Clinton health care plan of 1993,[1] and was also widespread during debate over possible excise taxes on "Cadillac" plans during the health care reforms proposed during the Obama administration.[1] (Bills proposed by Clinton and Obama did not use the term "Cadillac".)
      (from Wikipedia)

  • @kasiwilliams5927
    @kasiwilliams5927 Před 9 měsíci

    Great episode guys!!!
    I did the vip tax challenge but wasn’t interested after day two I have better use of 50k.

  • @pinnacleroofing9841
    @pinnacleroofing9841 Před 9 měsíci

    can you pay a kid 13k and then charge 12k in rent, or for car or...?

    • @theresagomez2605
      @theresagomez2605 Před 7 měsíci

      Your child should pay all of their expenses like clothing, car insurance, gas, tuition, etc. You probably don't want to charge rent or anything that shows it coming back to you.

  • @PuroNonsense
    @PuroNonsense Před 6 měsíci

    thats the same type of man that would brake those windows by bloody hands if he had to for his family

  • @miragexl007
    @miragexl007 Před 6 měsíci

    Glad to waste some of my time to not be in a business owner or into real estate.. That can take a lot of advantages of the system . But just being a normal worker.

  • @user-no4ij8lx6w
    @user-no4ij8lx6w Před 4 měsíci

    حلم 💭 ،،،،،،،،،،،،،،،،،حلم حلم 💭 حلم 💭 حلم 💭

  • @KetoCoachA
    @KetoCoachA Před 3 měsíci

    The silent thorn in my foot is SELF EMPLOYMENT TAXES 🥹