#motivation #success #money #investing #shorts HOW MY DAUGHTERS GET PAID PASSIVE INCOME - This isn't money that we just give them... They earn it from investing...
@chris-st6sm not everyone can spare 30k a year for there kids, this guy just has a big company, it's got nothing to do with whether family's want to support their children or not
Lmao here comes all the comments “just do it yourself bro” acting like the prosperity of our nation isn’t in peril and that our people have the same amount they did 20-50 years ago.
For yall who dont seem to understand this, the 30k is not 667 a month. Her salary/payment is 30K a year, which is paid to her ONCE a year. Then they take that 30K, and put it into Cardone Capital. From Cardone Capital, she gets paid a passive amount of $667 monthly (which comes from the Real Estate). He says she can never touch the salary she gets (which is the 30K salary), but she can use the $667 which is the distribution she gets from the deal every month
@shorts-tc1bfHer entire $30,000 salary is invested into real estate funds all at once. She never touches the $30,000 because its invested. The $667 / month are dividends which come from the real estate investments.
Leaving all the negative comments aside, what strikes me is how some people are fluent in the ways of money saving/investing/protecting while most of us don't even understand what they'e saying. It is what it is.
it's kinda crazy how the guy who exposed in his ebook how easy it actually is to make money online, suddenly dissapeared and nobody knows where he is, the book is called derp money btw
Parents can file for their children. Children can also be filed independently. For example if you are middle class and your child gets cast in a big movie, their money is (hopefully) going to placed in a trust fund the parents can't access. But that money will still be taxable and the parents may not be able to pay taxes on that amount of money. It's better in that case for the child to be taxes independent of the parents.
If she's actually an employee of the company then she absolutely has that 30k taxed. She would have a w2. And he would have to pay all taxes and benefits If he just puts 30k into an investment account on her behalf it's different. But it's still over the yearly tax free gift amount. He's really just full a shit
It's great that your in a position to do that. Unfortunately most Americans can't even afford basics like food and bills. This is again an example of what to do when your already wealthy
@geraldlofton I said the average American, I guess your to stupid to read what my original comment is. Saying stop crying and do stuff. I'm the owner of 4 buisness, I don't have the same problems as the average person. The AVERAGE person or family can't do this and in fact you would be able to do this when your already wealthy.
@geraldlofton you clearly can't read because my comment says the average person. To do this you would already need to be wealthy. To tell be to shut up and do stuff, I'm the owner of four companies and don't have the average struggles. Like I said the AVERAGE person or faimly.
@@_Bugz1x_ you either didn't understand or didn't watch it. He said she doesn't get to touch the 30k. That 30k goes into a fund and the fund(realestate) pay her 667 bucks a month. It's great. She gets 150 bucks a week and in 10 years she will be so far ahead in the real-estate game she's set if she can keep that growth
Setting up for success to me would mean like setting up either a college fund or even a startup fund. Not just giving out money and pretending she earned it.
So you're mad because he's a smart parent and made something of himself? Also, killed the generational poverty? How about you be mad at your parents for not being smarter lol
@@RomeoMelendez-vd3dy nope, we are pissed that i have to starve and struggle workin 90+ hours a week while these fucks getborn into money and treat us like second or third class citizens while sitting on realistically unspendable amounts of money.
The way to do it!!! My fro father was a millionaire and set her a pay check every week since little boy is she set now!!! Invest it and watched it grow!!$$$
I’ve 5 kids, I’d love to put them all on the payroll but where I’m from it’s illegal to have children on the pay roll or pretend to have somebody working for you. 😂 Long live America 🇺🇸
Maybe he justified her doing a job cause it doesn't need much and it isn't harsh. Just say hello and she doesn't get money it gets invested for her. So maybe he made something happen there.
Well here in America we have things called, LLC, Scorps and C corps, as well as trusts and a variety of other legal ways to include your children on payroll.
@@yessa1728 I remember a time when if you didn't know a subject you didn't speak about it. People today say anything w no clue they are just plain wrong.
Its not embezzling, its legally investing based on our current 1600 page tax code. Educate yourself on the tax system and you will find far better "loopholes" for lower income class individuals. For 1, starter businesses that make less than 30k profit dont pay income tax, only SS tax.
Income from Real Estate is never considered passive income according to the tax code. Grant Cardone should hire a financial planner, and people should not get financial advice from social media.
As a CPA, this is the only comment on this short that engaged more than two brain cells. Dont listen to him - this dude is really stretching what it means to employ your own children. The average real estate investor will not reach the point where they can hire their children and start acting goofy for tax write offs. Listen to your Accountant - paying a bit of your profit is a part of life
Interesting situation described here! It's important to keep in mind if this arrangement is legal or not can depend on various factors, including local laws and the specific terms of the agreement. Payment Frequency: Paying a salary annually is unusual but not necessarily illegal, depending on the employment contract. Investment in Cardone Capital: Investing one's income is common, but the legality depends on the specifics of the investment and the agreement. Monthly Distributions: Receiving periodic returns from an investment isn't inherently illegal. Access to Salary: The contract "Sabrina" should clarify if the salary is inaccessible; this could be a contractual matter. Compliance with Labor Laws: Ensure this arrangement adheres to local labor laws and regulations. Seek Legal Advice: If in doubt, consult a legal.
Don’t forget IRS agents, they can’t agree on anything. To one this could be ok, next time you broke the law and will get levied hard. For me that is why the IRS and the 16th should be abolished and repealed in that order
The way these guys talk about not paying taxes makes me believe that they actually do. The day one of this financial gurus can walk the walk and talk the talk I would actually believe them. Start from scratch and show me how you made your millions. Show me the struggles and hardships it is to run a business, have a family and have good health. Ever notice no financial gurus show their tax returns, or have full transparency in their businesses.
@@ichbinschanppithat is incorrect. You should look it up. If you own your business, you pay your 2 year old for doing reasonable tasks at your business.
This is why you see so many business owners have their kids in their commercials, not only to appear as a "family man" but also a completely legal tax evasion/avoidance lol also incredible seed money for the offspring. I cant imagine becoming an instant millionaire at 18. Hopefully they were raised right 🤞🏼 success or overdose is the only two outcomes i can imagine
So technically he uses fund money to pay sallary to his daughter for some made up work. In my country it is a misconduct for small sums and a crime for big sums - 30k a year is considered a sum of especially serious crime. Even in a LLC you can get sued for this.
If she makes 30k minus the standard deduction she would be on the hook for 16k of Taxable income. Her tax bill due for fed would be $1700 for the year. She would still be subject to fica taxes at 7 65% on the 30k since her income was earned. The only way around this is if he set up a directed 401k or IRA. However she would be required to reinvest the dividends until retirement age.
Not really, if she is an independent contractor and her income is less than 30k after deductions she is eligible for earned income credits as a starter business making her eligible to only pay SS.
@@archieVGC_Unitethere is nothing illegal about navigating the tax code. Being educated on tax code doesn’t make you a criminal. But it would be criminally stupid to knowingly pay more than you need to 😂. Did you forget that our federal government wastes a ton of money? The federal government is the biggest corporation in this country and you’re completely okay with making them even more powerful. Got it.
Wdym this dude? This how anyone that has any considerable amount money acts. If your not cheating the system your not winning lol. Every one of our politicians cheats the system way more than this guy.
I admittedly have no clue of US tax laws but wouldn’t those 30k be considered taxable income regardless of what’s done with them AFTER she received it ? He kind of skips that part
@@sethmcgregor5086Your kid waving at people isn't legitimate work. The IRS specifies that it has to be actual work. You also can't pay your child more than $13,850 per year. So he can't write off $30k a year in salary for a kid that waves at people. He is lying.
People calling this fraud it’s literally in the tax code you can hire a family member who is young so long as their directly related to you and don’t make over a certain amount of money So if I have 3 kids and a wife they can all be my employees and be written off as such and there’s no illegal stuff at play Saves me money and them, loophole’s
@@user-yu5lb1ti2vtrue true it’s very easy to become rich this day and age; with wages stagnant, massive underemployment, most small businesses closing within a year or two of their opening, and regularly more relaxed corporate regulations (meaning they can take up more market space from any small businesses), I could become wealthy super easy!! Class mobility is no easy feat and it’s been getting worse for decades.
$667/mo is $8K/year... on a $30K investment only - That would be 26.6% return! Or has Grant been investing the $30K for several years (ex: 4 years = $120K total invested, so the $8K/year would be around 6.6% return). Could someone confirm?
Based off what he said her 667 a month is only off the 30k salary she is paid directly to her. So at this point she’s probably been there several years now with a pool of money paying for her expenses so as a father figure her cost are written off and she has her own money put away.
@@yassinait Warren Buffet John Bogle Carnegie Napoleon Hill And learning tax codes as well as hiring a person who knows them is what can make or break a house hold. S&P 500, compound interest, index, mutual, etf funds. Investments that compound your money as time passes with more invested does that Look up Dr Brad Klontz to get educated
Remember kids it’s only tax fraud and money laundering if you’re poor. If you do this and you’re rich, you can admit it publicly and record it and put it on RUclips. Otherwise, you would go to jail.
And that folks, how to make a spoiled kid/adult who never can stand on her own two feet 👍🏻 great job dad. Did you forget how hard you worked for succes. Now she never will know what working for succes is.
What a stupid idea emerging from a stupid thought ,she can learn how to manage and expand that wealth instead of struggling to be afloat. She doesn’t have to suffer for a life lesson while she can learn it in a book. You don’t reinvent science you stand on the shoulders of previous scientists to reach new heights .
Helping your kids and giving them tools for success is great. And when both parents die, the estate should go to the kids. However, giving your kids handouts when your alive is just spoiling the shit out of them. And im a right winger who loves capitalism. This guy should want his kids to be self-made successes like he is. Tough times create strong people. Tough people create good times. Good times create weak people. Look at all those kids who never work a day in their lives and just live off of daddy's money their whole lives.
@@abhattab I understand that you want your children to have a happy life. But look at all those kids that grew up with parents giving them handouts. This girl is not even 10 years old yet and she gets $667 a month? You can disagree all you want, but most rich kids grow up to be entitled. And they would never be able to survive anything when shit hits the wall.
@@WorstPaperCut I also agree with you about the importance of not to spoil them and be sure to eliminate any thoughts of entitlement that they may develop. On the other hand they also have to learn to value themselves and be proud . This can be achieved with good upbringing and establishing an effective communication from the age of 2 forward. I don’t think generational wealth can be built and maintained if they did not start learning how to manage it from a young age.
Is not favoring, is being smart at the numbers game. The TAX law are what they are, it is up to you if you learn how to use it in your favor. We’re living in an information era, you got it all in the palm of your hand. You could take the same advantage if you educate yourself and work smart enough, like the rich do. It’s not about working hard but smart. You can do it too 🫶🏽
He's actually telling a lie about the taxes here. She doesn't have to pay taxes on it because the $30k never touches her hand . The monthly salary is low enough to not have to claim on taxes.
This is why it doesnt matter how much money you make, understanding finance is CRITICAL to keeping it/ building generational wealth. If you ever have 1 million, if used wisely there’s no reason other than bad decisions/lack of understanding to create generational wealth
This is NOT "passive income". Passive income doesn't exist. This is a father investing his money and choosing to give the dividends to his daughter. Nothing wrong with that, but call it what it is.
Imagine your boss telling you “hey instead of giving you your paycheck like I’m legally required to do I just took it and invested it for you cause it’s what’s best for you” lol
@@donaldmiller6353100% My daughter makes about $1,700 a month in dividends from the custodial account I set up. Until she becomes 18, those Dividends I will reinvest when I think prices are good to buy, and 16 years from now that $1,700 will be more like $6,000 a month.
Wow. Wish my parents knew how to do this. I dont have a clue where to start or how to do any of this but im going to be a millionaire. Then do the same thing for my children.
It’s not hard my g you can put $100 per month away into a junior investment account and add $100 to it per month and they’ll be a millionaire at 40. I know it’s not 0 but better than most
Passive isn't taxed! Goes to show how many good rules there are that are literally wealth hacks. I'm really inspired to learn all about investing/high finance as soon as possible 🙏
Smart man. That's what I do with my kids have a part-time business of cutting lawns My daughters.help me out and I get to write that off and put that into a trust fund. And by the time they're fucking twenty, they're gonna be Rich
It helps when parents know how to invest, most parents live on what they were taught by their parents and that is teaching how money doesn't grow on trees and be fearful.
That's the thing. Every one can. Opening a company is pretty simple process and with the AI / online possibilities out there it should not take very long. The tricky point in making a company is to make it stablely profitable for long period of time.
Its nice to have rich parents. I knew this when I was in college. If my parents had bought a house where I went to college ( just a large down payment), I could've had roommates to help pay the mortgage and property taxes. By the time I graduate, the appreciated price of the house would've paid my all my tuitions, all my "rent", all my expenses, plus a nice tidy profit.
Makes sense to me. For me employee is an employee. I’ve seen companies take away positions and make up new positions. Some based on practical needs. Others just to give someone a job. That’s how the law and world works. Most humans don’t get to make the laws. Since we don’t get to. We ought to learn how to use them in our favor
That’s funny so because he was a drug addict back when he was in his 20’s and he’s accumulated billions of dollars since you can’t trust him? You are an extremely foolish person that I’m going to guess doesn’t have anywhere near the intelligence and drive that Grant has but sure he did drugs when he was in his 20’s. I feel bad for you and your ignorance
@@mattmodena8299then go give him your life saving and see if you get 20+% return and report back please. Your dumb founded the people are seeing right through his bullshit and your not.
This is awesome when your dad is a billionaire. For me and most around me. My mom n dad don’t have shit and they in there 60’s and 70’s. So when they die eventually I have to pay for it and they won’t leave me anything except memory’s and struggles. I hope I have done better for my kids when I’m gone
I gurantee people aren’t getting a 26% ROI on their investment into Cardone capital. Especially considering it usually is about 6% ($1800 a year or $150 a month)
@@Elizabeth-jk4yj 2% a month is great. However I’m saying grant isn’t returning anywhere near it. People who have invested get about 6% a year with cardone capital
“It’s passive income so it’s not taxed”
Somewhere off in the distance an IRS agent feels a disturbance in the force
It goes to a fund so they can't tax it. As he puts it into capital they can't tax it either, enjoy your tax breaks G
@@MatthewTheUntitledi fucking love our perfectly normal and functional tax policy and society in general !!!
@@MatthewTheUntitled He said the passive income from the fund goes to her and she's free to spend it. That taxable income.
@@MatthewTheUntitled any money you received is taxable except from debt.
@@jmrm01 thats what i was thinking but i live in australia.
“Her income isn’t taxed because it’s passive” sir the IRS would like to speak to your daughter
Lol. It's his fraud he is admitting.
The growth in capital isn’t taxed as income because it’s invested over a year and 30k is such a low income that you pay basically nothing
Also in Florida there tax laws on rental revenue is different, pretty sure it’s 0% or almost 0%
@@Playingwithproxiescapital gains tax lmao but this sounds like rental income which is taxed as income federally.
@@strings1984 you dont think he has it all covered by smarter people than you and me? i bet he has checked with every top irs lawyer
Oh wonderful... So all we need is a millionaire Daddy and we too can be millionaires. I was wondering where I went wrong.
well sounds like no one in your family line decided to "pay it forward"
@@chris-st6sm Fuck that.
90-95% of american millionaires are self made, not inherited.
source: 2018 book "Everyday Millionaire"
@chris-st6sm not everyone can spare 30k a year for there kids, this guy just has a big company, it's got nothing to do with whether family's want to support their children or not
Cardone is a billionaire bro
Starbucks employee: sir, are you ready to order?
Brought me back that k you!
lol
That was good
😂😂😂😂😂
Then those kids grow up to say they are self made 😂
and then they tell everyone how horrible and oppressive capitalism is.
🤣🤣🤣🤣🤣
She just has a great parent.
Anyone with a small business can do this for their children as well.
Yeah hopefully he still teachers her lessons because money can’t buy wisdom
Everyone says that even broke people.
Must be nice having a rich father that can set you up for life.
✔️✔️✔️
Another thing to blane your parents for.
Be better than them.
Become the rich parent you always wanted to your kids.
Grow up and do it yourself
To be fair, look at where he came from.
Lmao here comes all the comments “just do it yourself bro” acting like the prosperity of our nation isn’t in peril and that our people have the same amount they did 20-50 years ago.
I remember my dad made me go out and shovel snow from driveways in the neighbourhood to buy myself a PSP, great life lesson.
This is tax evasion. If he pays her 30K per year that is a taxable income. Not only that but the passive income of 667 per month is also taxable.
667/month is less than the minimum taxable income
@@kyotango30k + 667*12 = 38004$. That's her income which gets taxed appropriately.
For yall who dont seem to understand this, the 30k is not 667 a month. Her salary/payment is 30K a year, which is paid to her ONCE a year. Then they take that 30K, and put it into Cardone Capital. From Cardone Capital, she gets paid a passive amount of $667 monthly (which comes from the Real Estate). He says she can never touch the salary she gets (which is the 30K salary), but she can use the $667 which is the distribution she gets from the deal every month
@shorts-tc1bfHer entire $30,000 salary is invested into real estate funds all at once. She never touches the $30,000 because its invested. The $667 / month are dividends which come from the real estate investments.
Someone explain “my 30k income isn’t taxed because it’s passive”😂
@@LongBlackOGtrust fund
Isn't this illegal to give a contract to a kid or looks like tax evasion a little?
@@andrewbarr4843 he’s incorrect.
I can't wait to hear her story of how hard it was for her. And she will sale you a book so you can learn from her struggles
She wont need to she can also make an Only Fans she will make so much money
@zGiGi good point!
@@zGiGi you just said that about a literal child. Pedo
Her dad is a 🤡 so she has to be too
Right lol
Leaving all the negative comments aside, what strikes me is how some people are fluent in the ways of money saving/investing/protecting while most of us don't even understand what they'e saying. It is what it is.
How demonic is 666 a month?
it's kinda crazy how the guy who exposed in his ebook how easy it actually is to make money online, suddenly dissapeared and nobody knows where he is, the book is called derp money btw
Derp money or DEEP money?
It’s a scam bros hitting like on his comment the book is garbage
Scam
Everything about Grant Cardone is SCAM CHECK GRANT CARDONE EXPOSED VIDEOS
Nobody knows where here?😂
Step 1. Be born into a family of millionaires
Billionaires
Genetic lottery
In this case it's more like a family of grifters
How to build time machine
Scammers
He is correct. She doesn’t have to pay taxes because she is minor. However, her parents have to pay taxes on her behalf.
Parents can file for their children. Children can also be filed independently.
For example if you are middle class and your child gets cast in a big movie, their money is (hopefully) going to placed in a trust fund the parents can't access. But that money will still be taxable and the parents may not be able to pay taxes on that amount of money. It's better in that case for the child to be taxes independent of the parents.
This is completely false
There’s such thing as a kiddie tax
If she's actually an employee of the company then she absolutely has that 30k taxed. She would have a w2. And he would have to pay all taxes and benefits
If he just puts 30k into an investment account on her behalf it's different. But it's still over the yearly tax free gift amount. He's really just full a shit
Thats not true in the USA
It's great that your in a position to do that. Unfortunately most Americans can't even afford basics like food and bills. This is again an example of what to do when your already wealthy
Skill issues
Just stop crying, and do Stuff
@geraldlofton I said the average American, I guess your to stupid to read what my original comment is. Saying stop crying and do stuff. I'm the owner of 4 buisness, I don't have the same problems as the average person. The AVERAGE person or family can't do this and in fact you would be able to do this when your already wealthy.
@demona625 your literally a child with a failed twitch career
@geraldlofton you clearly can't read because my comment says the average person. To do this you would already need to be wealthy. To tell be to shut up and do stuff, I'm the owner of four companies and don't have the average struggles. Like I said the AVERAGE person or faimly.
He’s not breaking any laws. Just bending them.
Not even. He's just using them to the full potential they were written for
Tax evasion is a sport, not a crime..
It’s not tax evasion they legit wrote laws and made ways to get tax cuts on purpose the system was created to do this ?
Well said 👏
Tax code is there for everyone to use.. learn it don’t ignore it
Literally, he’s saying exactly this to tell everyone how it’s done - her job “to say hello and greet everyone”
Exactly
Smart man....great way to set your kids up for success... God bless🙏🙏🙏
By gifting them 30k a year? I disagree
@@_Bugz1x_ you either didn't understand or didn't watch it. He said she doesn't get to touch the 30k. That 30k goes into a fund and the fund(realestate) pay her 667 bucks a month. It's great. She gets 150 bucks a week and in 10 years she will be so far ahead in the real-estate game she's set if she can keep that growth
Setting up for success to me would mean like setting up either a college fund or even a startup fund. Not just giving out money and pretending she earned it.
And that's why he is the billionaire and you're just another common worker.
Your right. He set this up. Not her. What’s will she do when she has to figure out how to meet her basic needs?
Great teachable moment! Appreciate the knowledge and insight laying out the system for one’s legacy.
The fact he thinks it’s morally okay to avoid all of those taxes is scary.
Passive income is taxed
Florida don't tax capital gains, regardless if it's paid out passively or not.
@@gabrielg2856 really? Wow
A distribution from a real estate fund is income not capital gains.
Depending on where you live...Puerto Rico 100% no taxes on passive income
Not after you take the standard deduction
Thank you for defining "privilege" for us.
You sound jealous
Yes today's label as privileged would be correct having 2 parents that care about their children
Work ethic and being smart. How's that?
So you're mad because he's a smart parent and made something of himself? Also, killed the generational poverty? How about you be mad at your parents for not being smarter lol
@@RomeoMelendez-vd3dy nope, we are pissed that i have to starve and struggle workin 90+ hours a week while these fucks getborn into money and treat us like second or third class citizens while sitting on realistically unspendable amounts of money.
The way to do it!!! My fro father was a millionaire and set her a pay check every week since little boy is she set now!!! Invest it and watched it grow!!$$$
“Just give your kid $30,000k a year for saying hello bro and you can be rich! But also invest it in my suspect as fuck business!”
Not suspect you just got to dig more and understand tax codes
You think this guy, who is worth multiple billions is running a "suspect AF" business? Maybe he knows some things that you dont.
I still have the workbook from your sales training class in 1991. Helped me a lot. Thank you.
james, would you please send me that workbook if you don’t mind? I’d greatly appreciate it. Merry Christmas!
So you have to be worth a couple billion by now 🤣
Curious about your journey since then if you wouldn't mind sharing :)
He's been teaching for over 20 years now? 😮
@@GenieFarms over 30 years!!!!
They don’t teach nothing even close to this in schools, not even credit for Christ sake!. 🤦🏾♂️💯
Impressed by Revux's commitment to user control and privacy! The decentralized KYC and personal data vault set a new standard for security.
I’ve 5 kids, I’d love to put them all on the payroll but where I’m from it’s illegal to have children on the pay roll or pretend to have somebody working for you. 😂
Long live America 🇺🇸
Maybe he justified her doing a job cause it doesn't need much and it isn't harsh. Just say hello and she doesn't get money it gets invested for her. So maybe he made something happen there.
Is called media talent
Well here in America we have things called, LLC, Scorps and C corps, as well as trusts and a variety of other legal ways to include your children on payroll.
Dodging taxes shouldn't be admired. We should want to support or public entities instead of complaining about how bad our roads and schools are.
@@yessa1728 I remember a time when if you didn't know a subject you didn't speak about it. People today say anything w no clue they are just plain wrong.
Oh I see what I did wrong. I didn't have wealthy parents to embezzle money around for me growing up. How could have I been so careless?
Its not embezzling, its legally investing based on our current 1600 page tax code. Educate yourself on the tax system and you will find far better "loopholes" for lower income class individuals. For 1, starter businesses that make less than 30k profit dont pay income tax, only SS tax.
She has no idea how Lucky she is shit is hard
I want to do this for my children when I’m older
Income from Real Estate is never considered passive income according to the tax code. Grant Cardone should hire a financial planner, and people should not get financial advice from social media.
As a CPA, this is the only comment on this short that engaged more than two brain cells. Dont listen to him - this dude is really stretching what it means to employ your own children. The average real estate investor will not reach the point where they can hire their children and start acting goofy for tax write offs. Listen to your Accountant - paying a bit of your profit is a part of life
@@Poopoopeepee890not if you live in dubai
@@Poopoopeepee890as someone who is studying accounting and aspiring to get their CPA, a lot of this wasn’t adding up😂
Interesting situation described here! It's important to keep in mind if this arrangement is legal or not can depend on
various factors, including local laws and the specific terms of the agreement.
Payment Frequency: Paying a salary annually is unusual but not necessarily illegal, depending on the employment contract.
Investment in Cardone Capital: Investing one's income is common, but the legality depends on the specifics of the investment and the agreement.
Monthly Distributions: Receiving periodic returns from an investment isn't inherently illegal.
Access to Salary: The contract "Sabrina" should clarify if the salary is inaccessible; this could be a contractual matter.
Compliance with Labor Laws: Ensure this arrangement adheres to local labor laws and regulations.
Seek Legal Advice: If in doubt, consult a legal.
Well written and factual. Love to see another person who is able to understand and speak clearly to convey the message.
Don’t forget IRS agents, they can’t agree on anything. To one this could be ok, next time you broke the law and will get levied hard. For me that is why the IRS and the 16th should be abolished and repealed in that order
If she is an independent contractor or sub contractor, shes entitled to be considered a 10-99, giving her tax benefits.
"Passive income is not taxed"
People actually listen to this guy 🤣
The way these guys talk about not paying taxes makes me believe that they actually do. The day one of this financial gurus can walk the walk and talk the talk I would actually believe them. Start from scratch and show me how you made your millions. Show me the struggles and hardships it is to run a business, have a family and have good health. Ever notice no financial gurus show their tax returns, or have full transparency in their businesses.
Thank you for explaining the tax loophole. No more "child labour" for the rich
it is child labor though. He just admitted to hiring a minor, that wont end well
Child labor laws are different when you are hiring your own minor children in a siness you own. He's not in any trouble
@@tiffanythomas6431 nope, "If you own a business and want to hire your own child, you must follow the same child labor laws as any other employer."
@@ichbinschanppithat is incorrect. You should look it up. If you own your business, you pay your 2 year old for doing reasonable tasks at your business.
@@chrislindahl8547 wow .. a very simplistic reply and late to the party. Compelling
Sounds like a tax loophole. Rich people don't pay their percentage - W. Buffett
This is why you see so many business owners have their kids in their commercials, not only to appear as a "family man" but also a completely legal tax evasion/avoidance lol also incredible seed money for the offspring. I cant imagine becoming an instant millionaire at 18. Hopefully they were raised right 🤞🏼 success or overdose is the only two outcomes i can imagine
Thank you Dad! Well done!
So technically he uses fund money to pay sallary to his daughter for some made up work. In my country it is a misconduct for small sums and a crime for big sums - 30k a year is considered a sum of especially serious crime. Even in a LLC you can get sued for this.
Who is suing him if the LLC is entirely his ownership?
@@renkajicause tax fraud
We're not communists. In America, our capital owners have written the tax code to benefit the owners of capital.
@@Gammelpilz where's the fraud?
Yeah. This is so simple tax evasion.
What about income tax ?
If she makes 30k minus the standard deduction she would be on the hook for 16k of Taxable income. Her tax bill due for fed would be $1700 for the year. She would still be subject to fica taxes at 7 65% on the 30k since her income was earned. The only way around this is if he set up a directed 401k or IRA. However she would be required to reinvest the dividends until retirement age.
Exactly! He's a liar and a fraud through and through.
Thank you finally someone smart
Cardone got to cocky and know he spits bullshit 95% of the time
Not really, if she is an independent contractor and her income is less than 30k after deductions she is eligible for earned income credits as a starter business making her eligible to only pay SS.
Yess! Go back in time choose rich parents and everything will be great !
Right…… from money that he used from other people scamming them!
There's no problem in that.
i dont like the guy, but has he been convicted of a crime? No.
Good dad. Smart man.
Lol. What he's describing is both an illegal employment practice and tax evasion. More likely he's just bullshitting.
Generational wealth very smart man.
It sure would be nice to have the money and the tax professional to be able to do this, and not illegally
Wrong
@@archieVGC_Unitethere is nothing illegal about navigating the tax code. Being educated on tax code doesn’t make you a criminal. But it would be criminally stupid to knowingly pay more than you need to 😂.
Did you forget that our federal government wastes a ton of money? The federal government is the biggest corporation in this country and you’re completely okay with making them even more powerful. Got it.
IRS: we got those 87,000 extra agents right? Ok, release 20,000 on this dude 😅
Sorry sir, but we have no agents to spare. Suzy the single mom with 2 job owes us $157 in back taxes
You actually think they're going after rich people lol
Wdym this dude? This how anyone that has any considerable amount money acts. If your not cheating the system your not winning lol. Every one of our politicians cheats the system way more than this guy.
Becoming a millionaire for doing your chores is crazyyyyyy
Gotta love parents who use their children to make millions x_x
Income is TAXED Even if it Is Passive...Just Not Taxed on Social security !..
I admittedly have no clue of US tax laws but wouldn’t those 30k be considered taxable income regardless of what’s done with them AFTER she received it ? He kind of skips that part
dude,
Its 30K a year.
what on earth are you talking about?
$40K is the threshhold.
How does $667 per month add up to $30000? It sounds like BS to me, like most of the money advisors out here on RUclips
Holy shit your information retention is almost nonexistent. The $667 isn’t supposed to add up to $30k.
@@sethmcgregor5086Your kid waving at people isn't legitimate work. The IRS specifies that it has to be actual work. You also can't pay your child more than $13,850 per year. So he can't write off $30k a year in salary for a kid that waves at people. He is lying.
Bonuses in the Revux presale got me intrigued. Let's see what this project is all about!
People calling this fraud it’s literally in the tax code you can hire a family member who is young so long as their directly related to you and don’t make over a certain amount of money
So if I have 3 kids and a wife they can all be my employees and be written off as such and there’s no illegal stuff at play
Saves me money and them, loophole’s
Imagine knowing somebody that can help you get set up financially.
If you don't know anyone become that person for your family
@@user-yu5lb1ti2v why didn’t I think of that 🤯
@@user-yu5lb1ti2vtrue true it’s very easy to become rich this day and age; with wages stagnant, massive underemployment, most small businesses closing within a year or two of their opening, and regularly more relaxed corporate regulations (meaning they can take up more market space from any small businesses), I could become wealthy super easy!!
Class mobility is no easy feat and it’s been getting worse for decades.
@@user-yu5lb1ti2v Exactly.
$667/mo is $8K/year... on a $30K investment only - That would be 26.6% return! Or has Grant been investing the $30K for several years (ex: 4 years = $120K total invested, so the $8K/year would be around 6.6% return). Could someone confirm?
Based off what he said her 667 a month is only off the 30k salary she is paid directly to her. So at this point she’s probably been there several years now with a pool of money paying for her expenses so as a father figure her cost are written off and she has her own money put away.
Internet bullshit
Exactly right, in order to 667 per month she has to work for 4 years with no return from fund invested
@@yassinait
Warren Buffet
John Bogle
Carnegie
Napoleon Hill
And learning tax codes as well as hiring a person who knows them is what can make or break a house hold.
S&P 500, compound interest, index, mutual, etf funds. Investments that compound your money as time passes with more invested does that
Look up Dr Brad Klontz to get educated
This guy thinks he invented the Ponzi scheme 😂
Remember kids it’s only tax fraud and money laundering if you’re poor. If you do this and you’re rich, you can admit it publicly and record it and put it on RUclips. Otherwise, you would go to jail.
Top tier presale just begun. I think Revux is one of the most promissing projects year to date.
Yes, smart parenting. But you know he runs a scam, right?
Is it smart parenting? That girl will never be responsible or know how to take care of herself
These kind of caring parents make life of Their children a living paradise
Or hell because they are enabled so much they are incapable of doing things for themselves
Easy times create weak people
This is also just a scam artist and passive income is 100% taxed in all 50 states.
Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times
Employees that get paid to do nothing because she is family is not something to brag about.
And that folks, how to make a spoiled kid/adult who never can stand on her own two feet 👍🏻 great job dad. Did you forget how hard you worked for succes. Now she never will know what working for succes is.
What a stupid idea emerging from a stupid thought ,she can learn how to manage and expand that wealth instead of struggling to be afloat. She doesn’t have to suffer for a life lesson while she can learn it in a book. You don’t reinvent science you stand on the shoulders of previous scientists to reach new heights .
Helping your kids and giving them tools for success is great. And when both parents die, the estate should go to the kids. However, giving your kids handouts when your alive is just spoiling the shit out of them. And im a right winger who loves capitalism. This guy should want his kids to be self-made successes like he is. Tough times create strong people. Tough people create good times. Good times create weak people. Look at all those kids who never work a day in their lives and just live off of daddy's money their whole lives.
@@dennismsanquini83 and now we have "tablet kids". So sad. Look it up 👌🏻
@@abhattab I understand that you want your children to have a happy life. But look at all those kids that grew up with parents giving them handouts. This girl is not even 10 years old yet and she gets $667 a month? You can disagree all you want, but most rich kids grow up to be entitled. And they would never be able to survive anything when shit hits the wall.
@@WorstPaperCut I also agree with you about the importance of not to spoil them and be sure to eliminate any thoughts of entitlement that they may develop. On the other hand they also have to learn to value themselves and be proud .
This can be achieved with good upbringing and establishing an effective communication from the age of 2 forward.
I don’t think generational wealth can be built and maintained if they did not start learning how to manage it from a young age.
In Australia we get taxed on everything including passive income.
Same in the US. He's full of crap
Come to the uk we pay more in tax on a fizzy drink like
Coca Cola than what it actually cost…government called it sugar tax 😂
....ASSUMING property produce positive cash flow and appreciate over years.
This is an example of the TAX laws favoring the rich and NEVER the working man
Is not favoring, is being smart at the numbers game. The TAX law are what they are, it is up to you if you learn how to use it in your favor. We’re living in an information era, you got it all in the palm of your hand. You could take the same advantage if you educate yourself and work smart enough, like the rich do.
It’s not about working hard but smart.
You can do it too 🫶🏽
Find yourself a legit tax pro.
He's actually telling a lie about the taxes here. She doesn't have to pay taxes on it because the $30k never touches her hand . The monthly salary is low enough to not have to claim on taxes.
@@belkisjimenez9084only a rich person can do this dumbass liar
What’s stopping you from doing this? You don’t need anything close to 30k in order to do this
This is why it doesnt matter how much money you make, understanding finance is CRITICAL to keeping it/ building generational wealth. If you ever have 1 million, if used wisely there’s no reason other than bad decisions/lack of understanding to create generational wealth
It DOES matter how much you make. Yes, yes it does.
@@kevino.7348it doesn’t. If u knew the loop holes and different ways to invest then you can flip lil money to big money.
This is purely how to scam and dodge taxes
Yeah this is called tax evasion. IPS would like a word. Real estate gains are not passive.
Step 1: convince people to pay you. Step 2: say whatever the F you want, they already paid you.
This is NOT "passive income". Passive income doesn't exist. This is a father investing his money and choosing to give the dividends to his daughter. Nothing wrong with that, but call it what it is.
He'd steal every penny in a heartbeat.
bc rich people=bad right? You're a clown
30k makes you 667 a month? That return sounds quite unrealistic
Yeah...gonna pull my money out of that company real quick.
This is what poor people dont understand, wealthy are wealthy because they understand how the game works
We need to close all these tax loopholes.
Why should we the middle class and lower class need to pay for everything while these scammers walk free?
Fuck- that’s awesome! Gonna do that with my kids- love them- and Grant C. for having me given this head’s up
She will never have a clue what hard work is all about.
They boast about how they abuse the system whilst others go to prison for less.
Imagine your boss telling you “hey instead of giving you your paycheck like I’m legally required to do I just took it and invested it for you cause it’s what’s best for you” lol
She's not an adult. It's different. It's also his daughter.
She’s not a real employee… she doesn’t “waive to people” lol… this is just a. Tax loop hole he’s exploiting
@@JoseDiaz-hu9zj You have the right to use the tax system the same way he does. You choose not to.
@@donaldmiller6353100% My daughter makes about $1,700 a month in dividends from the custodial account I set up. Until she becomes 18, those Dividends I will reinvest when I think prices are good to buy, and 16 years from now that $1,700 will be more like $6,000 a month.
If it made money why not?
when your rich tax fraud is legal
yep. what you plan to do abt it?
@@russellthescout9639be a poor brokie
Bruv this is a father setting up his children for success….
You mad because yours didn’t? 😂
@@Manis-World Yes! Exactly!!! El Chapo and Putin set their kids up for success, and who could blame them???
@@russellthescout9639 ride the wave am loaded 😂
Coffezilla needs to investigate this guy💀
Man I remember saving 3 dollars a week at 14 just to rent 3 dvds and i felt the richest man in the world. What a fool I was.
Wow. Wish my parents knew how to do this. I dont have a clue where to start or how to do any of this but im going to be a millionaire. Then do the same thing for my children.
The dude is a liar and a acammer. It's probably not happening this way. He lies all the time. And from what I read will be bankrupt soon
I love the can do attitude brother. My wife and I are purchasing our first business Jan 1. I feel the same way!
It’s not hard my g you can put $100 per month away into a junior investment account and add $100 to it per month and they’ll be a millionaire at 40. I know it’s not 0 but better than most
Look up LLC, SCORP, and CCORP. That's a great place to start
I mean your parents would have needed an extra $30,000 a year to blow AND be investing in his shady real estate scheme lol.
Passive isn't taxed! Goes to show how many good rules there are that are literally wealth hacks. I'm really inspired to learn all about investing/high finance as soon as possible 🙏
just that lil 30k each year was for sure 10x’d 😂
Smart man. That's what I do with my kids have a part-time business of cutting lawns My daughters.help me out and I get to write that off and put that into a trust fund. And by the time they're fucking twenty, they're gonna be Rich
It helps when parents know how to invest, most parents live on what they were taught by their parents and that is teaching how money doesn't grow on trees and be fearful.
If only everyone could open a company 😂
victim mentality
Anyone can bro, just come up with an idea
My pizza shop got flooded in 2016. Insurance was worthless
That's the thing. Every one can. Opening a company is pretty simple process and with the AI / online possibilities out there it should not take very long. The tricky point in making a company is to make it stablely profitable for long period of time.
@@fishsticks88try again. They say it takes several attempts….. but imagine when you get it!!
Its nice to have rich parents. I knew this when I was in college. If my parents had bought a house where I went to college ( just a large down payment), I could've had roommates to help pay the mortgage and property taxes. By the time I graduate, the appreciated price of the house would've paid my all my tuitions, all my "rent", all my expenses, plus a nice tidy profit.
I should use this method to invest for my kids
She’s probably not an employee, but a contracted media talent. Very common way millionaire business owners pass on $.
Makes sense to me. For me employee is an employee. I’ve seen companies take away positions and make up new positions. Some based on practical needs. Others just to give someone a job.
That’s how the law and world works. Most humans don’t get to make the laws. Since we don’t get to. We ought to learn how to use them in our favor
If she's a contractor then she's going to have to pay even more taxes than a regular employee.
Thanks my dear for your care.
the rich stay rich, the poor stay poor. Proof.
Say what you want, bro is providing for his kids.
How many people can afford to save some money for their kids each month and don’t?
Be born rich, talents will follow
My family has never done anything like this for me ever I’m trying to learn about this. I can do it for myself.
I’ll be the one guy in the chat to say “great job setting up your kids.”👏🏽👏🏽🔥
The importance of having a father figure.
Now have her explain it.
Guarantee she could do it better than 90% of the people in the comments.
Fuzzy math from a former drug addict....I can't trust him.🤨
Dumbest thing ever said. Liberal? Jealous? He's made me a small fortune. Maybe go be angry somewhere?
That’s funny so because he was a drug addict back when he was in his 20’s and he’s accumulated billions of dollars since you can’t trust him? You are an extremely foolish person that I’m going to guess doesn’t have anywhere near the intelligence and drive that Grant has but sure he did drugs when he was in his 20’s. I feel bad for you and your ignorance
Poor beta male😂
@juanengelbrecht4362 brokie talk. Jealousy is a disease apparently.
@@mattmodena8299then go give him your life saving and see if you get 20+% return and report back please. Your dumb founded the people are seeing right through his bullshit and your not.
This just sounds like fancy tax evasion
She gets paid $30,000 as a salary. That is income, that is taxed.
This is awesome when your dad is a billionaire. For me and most around me. My mom n dad don’t have shit and they in there 60’s and 70’s. So when they die eventually I have to pay for it and they won’t leave me anything except memory’s and struggles. I hope I have done better for my kids when I’m gone
I gurantee people aren’t getting a 26% ROI on their investment into Cardone capital. Especially considering it usually is about 6% ($1800 a year or $150 a month)
It's around 2% a month which is not bad
@@Elizabeth-jk4yj 2% a month is great. However I’m saying grant isn’t returning anywhere near it. People who have invested get about 6% a year with cardone capital
@@Elizabeth-jk4yjthat’s insane.
30k X 4 years
They are currently getting 27.2% from last report