the keyword is paycheck. solution, start a company, with own $, work 60 hrs a week, pay the employees, or make the kids work, then pay the bills, and Oh, sweep the floor and clean the toilet.

I say that if a person doesn't want to pay taxes they don't deserve to use a single thing that those taxes provide them. It's always the people that benefit the most from taxes that complain about them most

@@pranav4937 did you not see that companies like Amazon pay no taxes, but my first paycheck they take 1/3 so spend on ammo??

In what world are you paying half in taxes?

The only way one can become wealthy is by making reasonable investments.

Good ol' ordinary income.

I am EA.. take alllll your real estate asset and convert it to holding llc and do a solo 401k.....it will be a lot lower

Yes somebody who understands expenses and depreciation.

Thank

you should do 1031 when you flip. So you can avoid capital gains taxes

what are the accountants tips

False.

@David Wang i actually own AT&T

@David Wang the loophole is you earn very little, use as much government resources as a rich person, and pay very little net tax on your pittance of an income

@@Diego-es9yb wut

Finally, someone who said something smart within all of these dumb ass comments lol

Fiction?

1. ah yes it's very easy to just buy a house these days if you're aren't already wealthy 2. claiming a bunch of deductions you aren't supposed to take for your scrap selling business that you don't actually make a profit on is likely to get you audited and owe a TON of back taxes because the IRS now is more likely to go after auditing nonwealthy people than wealthy people because they're too stupid to realize where the money actually is

@@iceink I didn't say do anything not allowed in the tax code! Only do deductions that you belive would survive and audit, and of course work with a tax professional to do so.

@@LinxuSx we have two-tiered justice system in case you've been living under a rock for a few decades, just because something is illegal on paper doesn't mean a rich person can't get away with it or at least get a lighter punishment than if a poor person did the same thing

@@iceink I don't know why we're arguing about rich people. I was offering my input on what I've done, and I'm definitely not a rich person. Good luck in your crusade against rich people!

@@LinxuSx sorry but if you're buying out second homes and renting them out you're part of the problem, all landlords need to be abolished, they're parasites who provide nothing to society

Don't these companies lobby to have these lenient laws?

The only problem in the law is that different people are obliged to give different taxes for the same government services.

The problem is that if everyone was paying their fair share the middle and lower class families will be hit the hardest. So it's a damned if you do and damned if you don't kinda deal.

the problem is the wealthy and corporations strongly influence what the law is

Who paid for your phone and made the phone that gave you the ability to write this comment on UKposts? Your job and apple/Google? Higher taxes they'll pay you less, and that phone would cost more. Less taxes aren't necessarily a bad thing.

hello! a total noob here, how did you get this informed on your picks, I'm looking to score big on the market now

to be honest its not entirely easy i lost so much while doing it by myself until I stumbled across Ramesh Vijay

rameshvijaytrading@@ gmail com;

+ 1 =5=8=5=6=6=6=1=3=3=1

above is his what'zap contact

For those without 10k, online trading has muni bonds as a mutual fund. I've found these muni funds for PA & NY that give 2-4% returns. Additionally there is state tax benefits if you live in the state bond is for.

Financial education makes it so that someone earning 30k a year can eventually pay less taxes like warren buffet by doing what he does: buy stocks

The bond market factors the tax free aspect into the yield on those bonds. Thus, municipal bonds have a low yield. Your friend would be better off buying SP500 index funds and paying 15% capital gains.

Yes, but your friend already paid ordinary income taxes on the money he used to invest into the munis. That’s what people are missing when they get upset because the “wealthy” pay less in capital gains. Btw, he’s only saving taxes on the dividends. He will still have to pay capital gains taxes when he sells the munis / realizes the gains.

The laws are written in interests of those who can afford to corrupt politicians. My bad I meant who can hire lobbyists

Fun fact : Even if the schools taught us taxes, financial freedom and useful stuff we still wldnt pay attention

Government in the United States controls schools so legal tax avoidance will never be taught in schools because the government will lose billions of dollars in revenue from its high taxpaying working class!

Do you think they want a revolution?

Rich dad poor dad

@@Joel-ee4yh sorry my Dude, you wouldn't pay attention, don't place the rest of us whom don't have limited thinking in boxes.. And in case you're wondering, I have an Economic, Political Science and Math degree and I have my owj business, so yes everything you heard in this vídeo Im definitely taking advantage of it because its legal, you want to change then hop on to the entrepreneur ship and leave your slave job.

Just for you they edited this video

Everyone is trying to avoid tax, the rich is just smarter at doing so. There are poor people who get paid half cash half check to avoid tax

@@kaizuki2801 umm unless you’re talking about a different country, getting paid in cash or check literally has zero bearings on tax liability. The only thing is that cash is harder to track. That’s not tax avoidance. That’s tax evasion. That’s like saying just “launder your money”, cause hiding cash income is illegal, even if you can get away with it. We’re talking here about legal ways to reduce taxes, which most average people can hardly accomplish. The fact is, whether fair or not, the wealthy have much more legal avenues and opportunities to reduce their taxes than average people. And, let’s face it, they have the money to higher the best tax experts to figure things out for them. Average people either lack access to such tax experts or are just ignorant about things and don’t get sound advice because they don’t know any better.

Two words - Tax plan 👍

What's the lesson

@@theseyi Nobody in any country can avoid government taxes. In my country, if you buy any product, for example a package of spaghettis, 50% of the price is taxes. The governments always get your money. It is not about accusing or pointing to who avoid taxes.

Beautifully said, I tell my folks these words everyday. It's good to save money but most people don't understand the market moves and tend to be misled in facts like this and always depend on money in the bank.

@Cesar Moreno Hey, this is a computer age. Peeps who aren't even traders make money from the crypto and forex markets ,how many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.

Very helpful, this is what I needed to hear today

If you think you're too busy to trade or learn how to trade, just know I have some friends who invest in a platform where experts devote their time and help them trade and generate a good ROI

My personal portfolio/investment manager; Mrs Jessica Leigh Caden , after a whole week of research,she runs an investment platform where you don't have to undergo any stress in the trades, she manages my trading account which i opened with a capital of $3000 and now i have grown my portfolio up to over $6500, a huge success.

Im sure warren buffet does every year. He always says he wants to pay more. I'm sure he just sends an extra $10 billion

*treasury

Yea you have to throw someone in cage to get anything you want apparently.

That’s the point. They only want other people to pay more taxes, which makes them hypocrites

You simply have to know the difference between regular income and capital gains. It's really not that hard people!

bruh..nice to see you here!

It also mentions, albeit briefly, that loans aren't taxable. That's one of the go-to ways to not pay taxes.

Careful.... you’re making sense again! That won’t go well in the comment section! ; )

,100%

You are disingenuous. Learn economics and learn how to read data. The world goes by numbers, not by your bias. I am HAPPY that Biden will fix the entire tax system to make it fairer. For too long, the 1% has rigged the entire economy and tax system for their benefit. Hopefully things will change soon.

CNBC is too cheap to give a WFH/Home Office stipend

Maybe? If so it’s the folks in DC, they’ve been putting these laws together for more than 47 years... this has been going on for a long time!

That's because they worked harder in the past to get to where they are now, where they can relax lmao

That's why you should be spending every day you're working to put away as much money into investments as early and as much as you can. When your passive investments are large enough you can stop working and live off passive income alone. Less financial stress, less taxes, no working forever.

Sammy, the top executives get up early and work late. Extremely. I think what you meant are low paid workers with multiple jobs or who need overtime to make ends meet. You are correct. Amazingly, the politicians don’t even try to fix that. They just keep talking about making other people provide more for employees or they take more money from high earners. I can’t remember the last time policy was proposed to actually change how things work.

Then learn the game. America is fair, everyone can better their finances.

loophole or best practice... it doesnt matter what you call it. Its legal.

It's not a loophole. It's smart.

I thought he was an accountant who works for Jackson Hewitt

Just left dmv office. It shows how efficient government is in spending money. I felt like i was in homeless shelter not in worlds richest cities government office

And then complain why roads are broken, power failures are regular, mail service is down, and police giving up on your case as there is not enough officers After all lawn mowing is necessity making country run while these services is just government fluff

@@taith2 he is still contributing to society and the economy, a family now has $5k more a year to pay for rent, groceries etc plus the gas used to run the equipment which is federally taxed. The government could manage the money far better than they do to handle these other services.

silly, you need to set up your own lawn care business..... not money out of your pocket then.... and lawn mowers depreciate.....

This is what people miss when they make the argument for a flat tax. The tax system right now is FAIR. The top 15% are also responsible for 75% of income (100 minus 15, with 100 being the person who made the least, and 1 being the person who made the most). So if 76% of the federal income tax revenue comes from 75% of the income for which fed tax revenue is derived, it is proportional. For a long time I was against the progressive tax system. It felt unfair. But if you sit and think about it in a pragmatic way like this it changes your perspective.

@@godofthecorn3011 I do hear your what you are saying. But the more complex the tax code is, the more likely it is for people to take advantage of it. So the argument is more so that it prevents corporate and ultra wealthy from being able to utilize the tax system to benefit them more than a regular American could

@@godofthecorn3011 I don't have a very strong opinion on this, but as far as the amount of federal income, if you take into account the significance of the worsening wealth divide/gap, it adds a bit more nuance. Where on that line should things change? I don't know. I see that there are some improvements to income in certain sectors recently, but also none in others. With the increase of automation of the workforce (need less workers), pushing more workers into the service sector, it is more difficult to find a well paying factory job or trade. There are so many other factors that influence this like the tipped wage (Only like $2.13 still to this day which is atrocious), the minimum wage still being where it is, the working conditions in many jobs, the proliferation of the 'gig worker,' which is more horrifying than most think. The numbers don't lie, in the US as of 2016, the top 1% own 40% of all wealth, the top 5% own 66% of all wealth, the bottom 90% own 21% (which is down from 33% in the 60s, this trend of decline increasing significantly in the last 2 decades) this has gotten significantly worse with the pandemic. The American dream of owning a home and car and being able to take care of a family off of a single income is dead. In the 60s and 70s you could do that, often with only a high school diploma. Is that a criticism of the income gap or the education system though? *shrug* a bit of both, with a multitude of other factors of course (all these problems have many causes, not just one, and so there is no such thing as a single directed fix either). Also, the decrease of benefits over the decades is very significant. A lot of benefits like health care coverage and pension is now taken out of your paycheck instead of being completely or almost completely covered by the company that you work for. The amount of income you get from easily accessible methods of investment like savings accounts have gone from 6-8% to .03% annual interest. On the other hand the interest rate has also dropped significantly, but that means we have an economy built on debt instead of wealth for the vast majority of the population. Should we blame someone in particular for this? Not really sure it is fair to place all the blame on the richest people, they are also participants in this broken system, but they also have more influence than most. Did you know that the IRS offered to make doing your taxes incredibly easy for people, but the tax preparation companies lobbied against it with really dumb arguments and trading favors to get it shot down? There is corruption everywhere in our government and the richest people have the money to buy off politicians to do what is best for them, instead of the general public. I'm cynical about it all, but I don't think I'm entirely wrong.

Thank you 🙏🏾☺️

@@Kiyometa Keep in mind the average home used to be half as big as it is now. Got to figure that into your lost American Dream scenario.

Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works

I totally agree with you,Forex trading is the most profitable venture I ever invested in,I reached my goal of $500k yearly trade earnings, setting realistic goals is an essential part of trading

But successful people don't become that way over night,what most people see is a glance wealth,a great career,purpose is the result of hard work and hustle over time

@@jasonsylvester7934 When talking about crypto currency, I have come to understand that only a handful of people really understand its mechanics and make money of it.

Bot alert...

Not the "poorest members".... All end consumers pay the price.

Not necessarily. You can do certain things to tax in a way that lowers rent. For example... Luxury apartments are all that are being built... That is because you can earn 4x the cost of that apartment. So the apartment complexes earn more money by leaving property empty. Tax the empty apartments, at different levels of course, under 10%? No taxes, 20% vacancy 10% of rent on empty apartments etc etc. giving a tax incentive to fill all apartments. Therefore drive rents down, while also increasing tax money.

if you're simple, then yes, that's how it works

​@hepthegreat4005 the super rich are the ones buying up empty homes so there's no chance your smart ideas will enter the tax code. The rich buy the politicians

It depends on what retirement saving plans you invest in. You’re also betting that tax rates will stay the same which is unlikely to occur with historically low tax rates.

@@rapfreak7797 invest in single stocks, not ETFs imo. way faster growth and can sell covered calls weekly for cash. do it all in a ROTH IRA.

Not true. You will be taxed later in retirement.

Only up to 4K per year for 19,500 saved.

No thanks cause you might not make to retirement

which is also a smart thing to do

@@adude8424 lol rich are going Texas leaving crap California

@@phoneicad1887 All those people moving to Texas are hardcore liberals they will turn Texas into California 😂.

@@gvanys lol why you liberals are running from your paradise maybe being hypocrite is becoming dangerous for your California lol. If it happens there will be war.

@@phoneicad1887 lol would you still pay half of your money for tax hell no I would go somewhere else where we are not bound of taxes.

It doesn't help that our lovely folks in Congress are part of the wealthy.

Eliminate all loopholes, make taxation a simple flat percentage rate. no deductions, no brackets, just that tax. Less than a paragraph of information.

It is only for a couple of seconds until the scene being changed but still I think that it worth to mention about.

Exactly. But they just prefer the catchy headline of 0$ In Federal Taxes than revealing how much they pay in other forms of taxation

Being *smart

@@pranshuanand4560 *trash

@@magk2524 working for your money means that you’re trash?

@@JasperShoes not paying taxes

@@magk2524 whoa? Tax evasion? BASED

I agreed. Lower percentage doesn't mean less money

Not really. 99%+ of people won't be able to leverage them.

Because they're smart while average American watches the office and eating burger king.

Pretty sure it’s cause they can afford to pay tax planners/accountants/attorneys lmao

Because they're the ones writing the bills that get voted into law by the politicians they're buying out.

Wrong . Politicians give them million ways to evade tax

@@MrJonyyMD being smart does not allow you morally to avoid paying tax .

6:26 too

It’s pretty weird. Voice comes from left side if you are watching the video from before but doesn’t happen when you click the time

Hahah

yep.

True

💯

Even the captions are not placed correctly. I kinda need them sometimes if I don't understand the accent.

Yes, soldier

The irs/fbi dont want you to listen

yeah but not paying 5 dollars in tax is nothing in comparison to 500 (Example)

This sort of logic equalizes someone just itemizing their deduction because they got a home to corporations paying no taxes and warren buffet paying lesser taxes than their secretaries. I guess poorly people are just suckers for wealthy, and may be saving a few pennies by paying 300$ to a tax attorney is all they can do

@@sonicblare Warren Buffett pay less tax rate not amount

Exactly. Instead of complaining which will change nothing.

1% pays more taxes than all of you combined.

if we live in a democracy, aren't the "rich" the minority? the rich already pay more than they need to. we need them more than they need us.

@@codorin hahahaha

This isn’t a democracy it’s a republic. You should learn the difference

You don't live in a democracy. Do something the government don't like and the CIA will knock on your door

Source ?

Nobody meant you when they said wealthy, whats your net worth rich boy?

Sell

Unfortunately when you sell the stock

@@AJ-rn5mt but if they start taxing capital gains taxes even before people sell, that's going to hurt everyone not just the rich. a lot of middle class people have money in stocks

@@kushal4956 u cant tax it . its not an income until you realize it .

In Sweden we have a special stock account where we pay a fraction of the national interest rate (0.1%) for any money or stock value you have in there (to trade stocks) quarterly, but no taxes when selling or withdrawing money. Govt. just gave up and made it easier for everyone to manage their money and retirement. So I pay less than Warren Buffet.

Lol

You need to convert short term gains into long term gains too, and then move to a no income state before cashing out.

@@OmahaRiverDonkey I'm eyeing florida

You guys still didn't go broke?

Yep 2 million a few months ago is 14 million today I’m in Florida

bring crappy jobs that don't pay people enough to live in the places they even work, let alone save money

oh a tesla icon comment checks out as someone who imagines themselves as a temporarily embarrassed billionaire

r/usernamechecksout

I mean we won't know any of that until we try it so no need to get all conspiratorial.

​@jghifiversveiws8729 but we do know it. Lobbying(buying out politicians) is common knowledge

Investing in Crypto now is very cool now especially with the current rise in the market now .

Stock are good but crypto is better

I wanted to trade Crypto but got confused by the fluctuations in price

@@floxyglory667

@@happyslora9213

Also, get paid under the table as often as you can.

Yea I'll bet you will never be able to do it, so you have absolutely no point. If it was that easy to do, everyone can just hire an accountant to do it.

@@dailyrant4068 do you have an IRA or 401k? Those investments are “tax avoidance schemes” quit crying like a baby and take some responsibility for your financial position.

@@dailyrant4068 File your own taxes and examine all the possible deductions. Every year, use a little more of them than the prior year. Over time, you will begin to understand how to keep more of your gains. And it adds up over time. It's not the easiest thing. And it's certainly not fun. But it is not all that difficult either. And as Patrick has said. Learn 401k and IRA from the start.

@@eric3434 I love when teens with zero knowledge in any tax law or investment/retirement areas try to tell people to look up things. Again, I'm on track to 2.5M when I retire, not sure about you. I've been maxing out my 401k since 2020. If you don't actually know tax and deductions, why are you giving advice on it? Because you read some gurus book or watched a youtube video?

@@dailyrant4068 I tried posting a reply with more info, but youtube keeps removing it. What is your 401k yearly contributions? Roth or Traditional? Yes i read many books, and I've watched youtube ever since youtube became a thing. What makes you think i don't understand taxes? I just spent another 3 weeks on my corp and personal taxes like i do every year. I'd say i am quite well versed.

That is true in the absolute amount of money, not in relation to their income. As stated at 0:25, the secretary of Warren Buffett pays higher taxes in relation to her income compared to Buffet himself. I don't think that's justified when hard working people have to struggle in many countries.

@@whocares2462 This is because she pays taxes on salary, while warren buffet pays taxes on stocks which is capital gains. And capital gains tax rate are always lower than normal tax rate. Its completely normal. Moreover if you habe a business you can claim write off for expenditure incurred while salaried people cant claim the same. There is nothing wrong in it.

Sure they pay the most taxes as a monetary amount, or state taxes or property taxes etc, but they might not pay the most federal income tax. Also, the rich have so many deductions which aren’t available to most people. Therefore proportionately or as a percentage of their total income/ gains they might not pay the most on taxes.

Thanks, I understand the reasons for it. But just because our system works this way doesn't mean it's fair. Why should work be taxed higher than capital gains? Are investments really more important to society than actual work? Or are investors simply more powerful than workers and therefore able to influence legislation? Plus, with shrinking wages it becomes increasingly hard for people for invest and build of other sources of income.

@@adirox7 just because it's normal doesn't mean it's right. Your essentially taxing a person more, who actually provides value and productivity to the economy. Than you are a investors in stocks who provides no value to society

Yes sir , you know the rich dad vibes

Name the 4 Financial "Quadrants!" "Employee, Self Employed, Business Owner, Investor!" Each of us, need to ask, for each Action we take, to which of those 4 Quadrants does it take us to? Obviously, for each "Financial Action" but, more than that, it includes our Thinking, Reading, Learning, Connecting with People, what we watch, even how we live, eat, travel, etc! Lots to learn for us "School Smart, Money Not" folks! Takes time, Effort, planning, and changing! But it helps! When instead of your Credit "FICO Score" you think more of your "Ratings" at Dun & Bradstreet, and are they AAA, or AAb, you'll know you've moved to a new chapter!

If the market has taught me anything, it's that it usually makes a comeback, but I can't seem to concentrate on the long term, especially because important things like my retirement and my reserve are having a disastrous impact on inflation. I need a solution and a data trajectory that I can trust as soon as it is practicable.

@@AnnieBeischel Currently, the best market strategy is to work with a credible investing coach. Since a while ago, I've been in touch with a coach, mostly because I lack the depth of understanding and mental toughness to deal with the ongoing market conditions. You lack the information necessary to succeed in a competitive market, not because you're doing anything wrong, but rather because of your lack of experience.

In fact, I'm not sure whether I'm allowed to mention this, but I'd advise looking up "Stacy Lee Decker" because she was a big deal in 2020. She oversees both my portfolio and serves as my mentor

False. They already take advantage of risk (in form of losses) because they can deduct losses against gains. That's NOT the reason why they are taxed less. It's just the rates they set many years ago. There is no magic number here.

Right, remove the major tax for the rich perfect solution

@You Tube 🤢 🤮 Living by the Golden Rule gets one taken advantage of.

@You Tube To each, their own.

vomit that crap out fool.

@You Tube if your tax dollars go toward bombing children in Afghanistan does that make you feel like you did the right thing? Maybe keeping your hard earned money and spending it how you see fit is actually more moral???

James and tom did pay 40% tom just bought Apple stock instead of car

The tax code problem

The rich sees every economic crisis as the perfect time to start up an investment, and I believe this would be a good time to start up an investment.

The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works,

For me I would say investing in Bitcoin is the hardest decision I and my wife ever took because at some point we were running down and didn't know what to do anymore, thanks to my colleagues at work who introduced me to professional Mr Dimitri lius through his Instagram page

@Edafe Akpovo Does this Mr Dimitri lius do free consultation?, I will like to me him too.

I stumbled upon one of his clients testimonies and decided to try him out...I'm expecting my third cashout in 3days.

Fund military, disability, infrastructure, boarder control. Subsidize STEM subjects in college, farming for food, research for alternative energies. Things would be much better with these changes.

and fox news especially!

So if johnny sat at work doing nothing while you are running the cash register and the drive thru window. Do you think johnny should get the promotion (aka the lower tax bracket)?

I assure you, your "services" is NOTHING compared to people who own jets and islands and super yaatchs, pull your head out of your ass.

@@marcos223fulIf he was hired for doing nothing, or he prefer to do nothing in his own business, it's his business, and what people do or not do, shouldn't affect how they pay taxes, the only thing that should affect their taxes is how they're using public services.

@@Redactedlllllllllllll What do you mean?

And the average rich person probably uses at most the same amount of government resources as a poor person. Probably a lot less

But that just shows how big the wage gap is. If the majority of the bottom earner are making so little then of course the top will make up the group who pays more taxes.

@@abnerruiz4011 in a progressive tax system that we have, it is rigged to penalized those who are the most successful. The bottom aren’t struggling. We live in a nation where if you are at the poverty line (17,800$) a year, your roughly in the top 10% of the world. As our culture progresses to becoming more and more entitled, the wage gap is destined to grow and grow and grow. It’s not a matter of “the rich don’t pay their fair share” but a matter of personal responsibility.

If that happens, there would be no "United" States.

@@renegade9777 The States have not been united in a long time.

@@renegade9777 If it punishes blue/leftist voters I'm all for it.

"Stand aside, this **** is about to have an accident" "you know you can write that off as a capital loss"

If you don't trust in your wife and she doesn't do you too , your love is no longer continuous.

😂

Great movie!

The better question is "Is your wife trustworthy?"

Despite the economic crisis it's still wise to invest in Crypto currency

For real crypto is profitable Crypto is the new gold

I wanted to trade Crypto but got confused by the fluctuations in price

Yeah my first investment with Mr James Lawson Bryan earned me profit of over $25,530 US dollars ever since then he has been delivering

Trading crypto now will be very wise but trading without a professional is not

Focus on two key objectives. First, stay protected by learning when to sell stocks to cut losses and capture profits. Second, prepare to profit when the market turns around.I recommend you seek the guidance a broker or financial advisor.

The stock market is unstable at the moment, but if you do the right math, you should be just fine. Strategists have been aiding folks in recording gains over 250k just in a matter of months, so I think there are alot of wealth transfer in this downtime if you have someone who knows where to look like i do.

One of my goals is to employ the service of an asset-manager this year. I've seen some off social media but wasn't able to get a response. Could you recommend one?

Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.

I searched her full name online and found her webpage. I emailed to make an appointment to talk with her; hopefully, she gets back to me.