1.invest all of it 2.everything you use is owned by a business 3.move somewhere with little to no tax 4.send it overseas 5.charitable donations 6. Instead of a salary they take equity 7.buying art 8. Multiple nationalities with no fixed residences 9. Gift money away 10. Hold it in privacy coins 11.you have no money but you have assets to borrow against 12. Filing for bankruptcy 13. Claim your yatcht as your second home 14. Using a trust to avoid paying estate tax 15.depreciating assets on paper to outweigh the cash income
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
I have over $200k ready to be invested, however I am having trouble trying to find out what investments would be best during this present economy. Heard index funds and ETFs provide diversified stock market exposure while spreading risk. How true?
very true, there are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation from $450k to nearly a mil as of today?
Truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of the professional guiding you please?
My CFA ’Lina Dineikiene’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for putting this out, curiously inputted Lina Dineikiene on the web, spotted her consulting page and was able to send her an email, she actually shows a great deal of expertise.
Is it really a "secret" if u can see it on a book? To me it just sounds like some people are just ignorant and no one wants to take the time to understand the system.
If you want to become rich, be a tax consultant who breaks those tax saving tricks down in such a way that the average man on the street can make use of them.
In the top 1% income group, there are 1.5 million households. They each pay $654k in income taxes on average (vs overall average income taxes paid per tax payer = $14k). Most of them are NOT billionaires. They contribute A LOT to the Federal income tax revenues. Those 1%-ers collectively represent 46% of the Federal income tax revenues. ARE THEY POOR???? Source: 2021 IRS Data
Excellent video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do
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.
@@AhmadMuhammad-j1cYou're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
YES!!! That's exactly her name (Kate Herman) so many people have recommended highly about her and am just starting with her, Kairangi from Brisbane Australia..🇦🇺
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with *Victoria Louisa Saylor* for years and highly recommend her. Look her up to see if she meets your criteria.
Curiously inputted her full name on the web, spotted her consulting page and was able to schedule a call session, no sweat. I've seen commentaries about advisors but not one looks this phenomenal
One... You need to UPGRADE the captions for your videos. I saw the words visual eyes vs visualize and a few other errors. Two... I'm in Cook County Illinois. Probably one of the highest taxed in the country. I think that the taxes are definitely being mishandled, I also think we get a fair amount of benefits. Our streets are clean. Our public transportation system is pretty good. And if you need public aid, it's available to almost anyone that needs it. And food banks a plenty. I do hope to move to a less taxed county soon.
The elite thrive on a system of debt that benefits them disproportionately, often enjoying significantly lower interest rates than the average person. This creates an environment where they can leverage cheap capital to accumulate wealth while the average Joe bears the burden of higher borrowing costs. Additionally, many elite individuals and corporations engage in practices like printing infinite shares, diluting the value of existing shares to generate quick profits at the expense of long-term stability. This dynamic not only exacerbates wealth inequality but also fosters a sense of disillusionment among the public, who see the system rigged in favor of the few. As more people recognize this manipulation, calls for accountability and reform will grow louder, paving the way for a demand for transparency and fairness in financial systems. The unsustainable nature of this model is becoming increasingly apparent, and as the tide turns, the elite may find their power challenged by a populace that is fed up with the status quo.
*STARTING* early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.i wish everyone reading the best of luck in achieving their definition of success!
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Eugene Murphy. A widely known crypto consultant
I Hit $113k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started crypto last month July. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
I greatly admire Nick’s ability to tailor strategies to meet individual needs. He recognizes that every investor has unique goals and risk levels, and he adapts his advice to fit those specifics.
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.
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. 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.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like *Marisa Breton Dollard* who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
Point 1) is not exactly correct. Money spent to increase inventory is post-tax money. For example, if your company does $1M in sales with a gross profit of $450,000 and operating expenses of $350,000, then net profit is $100,000. If you spend $80,000 to increase inventory, you pay tax on the full $100,000, not $20,000 as some people assume. The IRS essentially sees inventory held for resale as money in the bank.
🇨🇦 Marginal tax rate I calculated a few years ago was 37.5 %. Without any deductions it can be somewhere north of 50% combined Federal and Provincial, then there’s consumption at 13-15% on goods and services depending on where you live, and that is with after-tax money. Tax freedom day keeps getting pushed further along in the year, never mind municipal property taxes.. tax,tax,tax,tax,tax.. 🇨🇦 aka Taxania.. Lol!! 😂
Rich not paying taxes is a myth. I did taxes for a firm that had a lot of Wall Street specialists. Those are the guys who sit in the trading booths on the floor. They made between 1.5 and 2 million dollars a year. After all their sched A deductions, they ended up paying around 600k to 700k in federal taxes. The only client we had that didn't pay any taxes was a guy who lost his business. The top 10% pay around 70% of the tax burden in the US. Yes there are a few high profile people who don't pay much but those are the exception, not the rule.
Becoming financially literate has taught me a lot that the average Joe won't ever know. Part of it is: there is nothing bad in avoiding to pay taxes. another part of it is: you should want everybody to pay as little in taxes as they possibly can.
I am in 🇨🇦 🍁 🇨🇦 marginal tax rate federal + provincial about 34% + 13% on almost all purchases made on you net income in addition to property Tax and your bills ....🤔. Maybe a move to Switzerland would not be as bad 😂
No you just need to turn to God the living God the same God that was with Israel but is not now when Israel confesses Jesus then we would Israel was blessed like in the old days😂 Jesus is truth. If you don't put Jesus first any government will f*** you.. and you better listen to the shittiest this song called Vaseline by ice cube lol if you want to listen to the realest this song in history listen to real muthaphuckkin g's play easy motherfuking e
I wonder whether people who say that they want to "increase taxes for the rich" realize they still won't pay much or not. Of course, the first option is pretty terrifying, as that means they knowingly target the middle class, which in turn helps create a system where there are only rich and poor.
Because there are too many idiots who _still cannot discern, evaluate, or think for themselves_ and _look for anyone to blame for their own choices_ they were responsible for. That being said, _even when_ the person/helper says "not financial advice", those same weak-minded people _still don't listen and would blame others anyway._ That's their mindset that no-one can ever fix.
So you cannot come back with a counter claim saying you heard it from a certain person on the world wide web plus it basic knowledge all over nowhere days that is ! They are protecting themselves against claims Aluxer if things so pear shaped on that advice !
Taxing the income of productive citizens whether it be the humble worker or Rich business owner is counterproductive and nothing but government theft. Congress had to amend the Constitution in 1913 to make the income tax legal because before then it was unconstitutional and thereby illegal. Before then only taxes on consumption, such as a sales tax or a tariff, and property taxes by local municipalities we're allowed in order to fund vital services and defense. Only taxing consumption is better because it discourages excess and waste but encourages saving, investing and the efficient use of resources.
I live in the " People's United Republic of California" we have taxes on top of our taxes. Right now the growth opportunities to me are immeasurable, so my family stays. Eventually, retirement comes in a more tax-friendly state. Or country. Look for opportunity! 😊😊
I am planing on becoming a billionaire and I’ve seen a lot of videos about money you that they all talking to poor people yeah i still poor and I’m 16 btw but this channel is different so yeah
This is why, we asia never let them take a breath. Throughout history, if a rich is so rich, the poor would overwhelm and become rich while the rich become poor so that the pain will continue in loop like this. But if the rich is a good and prosperous kind not those type, they stay the same since they only want to live their lives and have a heart to help the other that are unable to passing through those borders. But it’s still very rare.
What of the listed items apply for a salaried employee wanting to own a side business that makes little profit, for example, a RUclipsr like this person?
Yep, it is some variation of this in all the developed nations. The poor may pay some tax, but they get far more back from the.governent, so they are net takers and don't contribute to the tax pool.
Love the content, but you might want to scrap the captions. They are frequently wrong and distracting from the visualizations. We can turn on RUclips's built in captions if we need them.
Rich people are wealthy not because they don’t pay taxes. Rich people pay more taxes if you combine all the various taxes and fees they have to pay. If you don’t think you are rich and you pay too much taxes, its because you believe the politicians and government telling you that you are paying what you are supposed to pay, and others are NOT paying so they got rich. Politicians work with budgets. When they need more money, they TAX you more through various channels - income tax, sales tax, ….etc. Anytime you see an increase in tax, don’t vote for it, regardless which group they are going to tax on.
Don't know in US but here in Italy #2 is not that easy, as only assets/services that are really inherent to the business can be deducted, often not in 100% form but rather in 20% or 50%.
In Las Vegas, Nevada I don't pay taxes because my income is labeled non-taxable. I live off of VA disability and Social Security. There can be much honor to the military for that. I would recommend this route for anybody that wishes not to waste their time in the workforce or chasing the wealth pipe dream.
How about including how much in taxes the rich businesses pay for EVERY Employee’s income taxes, social security taxes, Medicare taxes, on top of salaries, retirement 401k savings matching. Basically the rich pay ALL taxes the governments collect. Example…every other tax the employees pay from their earnings
It’s gotta end the greed. I’m fine with wealth not ok with greed. I won’t live the rest of my days on this planet being used. Nope. I will never worship money or power.
No, if you are still making a million dollars/year and you donate your painting worth $6 million, you did not just score a $5 million deduction. You don't get refundable tax credits on the sale of investments. In fact, you could deduct no more than 60% max of you AGI for charitable contributions.
me in switzerland: ~ 16.6% plus health care and other obligations by law, so in the end a forced 35% roundabout. these i cannot escape. then i pay my crib and all duties, then i have maybe ~30% left :) 10% i save MINIMUM.
I wouldn't want to be rich. I'm a retired electrician and I'm fully content with the life I've had and continue to have. Franklin was right when he said if a man could have half his wishes, he would double his troubles.
Isn’t that weird you mentioned buying bitcoin instead of buying gold bullion!! Because you literally benefit from fooling people but I’m here to tell keeping unnneeded money in gold and other various assets is a game changer
I have one question. When rich people take loans against assets and they take no salary. How do they payback. Can we have some detailed post or video regarding the same. And if it exists someone can please redirect me to that place
It's cool to pay tax, as one prominent swedish socialdemocratic politician said in the mid 1990ies; notorius for her pile of parking fees and for making numerous private purchases with her state granted credit card as a member of the government. Cool indeed... Good to know where the tax goes.
We did $48 mil in revenue for fiscal year 2023. I was very nervous about our tax bill. It was $90. $90!!!! For the entire year. I have excellent bookkeepers and accountants. I dont know how it works. I just know they make it work. I asked if we should just pay more. I dont want to get the attention of the CRA here in Canada. They said there is no reason. Everything is correct. I really dont understand how the tax code works. I just know the team I have does know how it works.
1. Reinvestment for the sake of it will be worse than just keeping it and not having that expense. Only reinvest if there is a worthwhile expense. 2. The company owning it may be worse if there are benefit in kind taxes especially the car benefit they mention. 3. Moving to a tax haven is extremely limited and not a way you can build wealth, you need the money first to buy the £3M+ house there first. 4. Not every business can work entirely overseas. The examples they gave are specifically related to intellectual property which can be moveable. 5. Giving to charity wont let you keep it and if you set a charity up with no purpose, that would be fraud. 6. Getting stock wont help if the business isnt growing. People grow wealth by doing business better. 7. Art is highly manipulated and only the few artists that the small circle in the know decide to follow actually grow significantly. Only buy art otherwise if you like it. 8. No fixed residence is not a great idea as the one you don’t want to tax you may start taxing you.
I am from Botswana, tax is 14%. in the past 10+ years is has gone from 10% to 12% and to 14%... during convid it wentn back to 12% now its back again to 14%
![BAK Jay - Find Out (For Your Love) [Official Music Video]](http://i.ytimg.com/vi/10FJO_XBCvY/mqdefault.jpg)
1.invest all of it
2.everything you use is owned by a business
3.move somewhere with little to no tax
4.send it overseas
5.charitable donations
6. Instead of a salary they take equity
7.buying art
8. Multiple nationalities with no fixed residences
9. Gift money away
10. Hold it in privacy coins
11.you have no money but you have assets to borrow against
12. Filing for bankruptcy
13. Claim your yatcht as your second home
14. Using a trust to avoid paying estate tax
15.depreciating assets on paper to outweigh the cash income
Thank you.
30% tax for crypto in INDIA😂
How to claim yacht as second home, depending on how much toilet paper 🧻 you buy for the boat?
You forgot 16. Taxes are high because of inefficiencies
.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
The greatest technique for beginners is to trade with the supervision of an expert.
@@BradleyRaiphWho helps you? If so would you share name I struggled greatly without competent guidance.
The fact that nobody talks about the book Matrix Golden Cashflow Tactics, speaks volumes why people dont earn a lot of money..
I have over $200k ready to be invested, however I am having trouble trying to find out what investments would be best during this present economy. Heard index funds and ETFs provide diversified stock market exposure while spreading risk. How true?
very true, there are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation from $450k to nearly a mil as of today?
Truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of the professional guiding you please?
My CFA ’Lina Dineikiene’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for putting this out, curiously inputted Lina Dineikiene on the web, spotted her consulting page and was able to send her an email, she actually shows a great deal of expertise.
This is merely the start. Get the forbidden book Whispers of Manifestation on Borlest, and uncover the secrets they've been hiding.
😂💀💀💀
Is it really a "secret" if u can see it on a book? To me it just sounds like some people are just ignorant and no one wants to take the time to understand the system.
@@jongxina3595true
oh oh the magical item yes. You read it and get some super powers.
If you want to become rich, be a tax consultant who breaks those tax saving tricks down in such a way that the average man on the street can make use of them.
Become a tax attorney so you don’t get your tax strategies cancelled by the IRS. Then have to pay a fine and interest.
That Dont Work on trymp Types. He Said IF He WONT SIGN THE ILLEGAL SHIT AND DEDYCT. Coyld Always Did it Himself. He Need Yoyr Head on iron maiden
.. How & what program should one start in to become a tax consultant?
@@bngr_bngr😂 why would they do that if it’s done legally?
In the top 1% income group, there are 1.5 million households. They each pay $654k in income taxes on average (vs overall average income taxes paid per tax payer = $14k). Most of them are NOT billionaires. They contribute A LOT to the Federal income tax revenues. Those 1%-ers collectively represent 46% of the Federal income tax revenues.
ARE THEY POOR???? Source: 2021 IRS Data
Excellent video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do
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.
Trading is easy, but trading the right coin without a time-tested strategy is incredibly hard.
@@AhmadMuhammad-j1cYou're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her i really need help in this bear market now?
Trading with Kate Herman trading analysis
YES!!! That's exactly her name (Kate Herman) so many people have recommended highly about her and am just starting with her, Kairangi from Brisbane Australia..🇦🇺
I need to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K from my cash savings.
diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor to help you invest in tax advantaged accounts.
Low six-figure income, no debt, nearing mortgage payoff ($400k property), age 43. Invested over 15x annual salary, amazed by focus on scraping by in retirement. Aim for surplus. My goal: retire at 55 with $5M. Unless the markets crash, these two points should align. I'm quite lucky to have started working with a financial advisor early.
Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you, how can I contact your advisor?
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with *Victoria Louisa Saylor* for years and highly recommend her. Look her up to see if she meets your criteria.
Curiously inputted her full name on the web, spotted her consulting page and was able to schedule a call session, no sweat. I've seen commentaries about advisors but not one looks this phenomenal
One... You need to UPGRADE the captions for your videos. I saw the words visual eyes vs visualize and a few other errors.
Two... I'm in Cook County Illinois. Probably one of the highest taxed in the country. I think that the taxes are definitely being mishandled, I also think we get a fair amount of benefits. Our streets are clean. Our public transportation system is pretty good. And if you need public aid, it's available to almost anyone that needs it. And food banks a plenty.
I do hope to move to a less taxed county soon.
The elite thrive on a system of debt that benefits them disproportionately, often enjoying significantly lower interest rates than the average person. This creates an environment where they can leverage cheap capital to accumulate wealth while the average Joe bears the burden of higher borrowing costs. Additionally, many elite individuals and corporations engage in practices like printing infinite shares, diluting the value of existing shares to generate quick profits at the expense of long-term stability.
This dynamic not only exacerbates wealth inequality but also fosters a sense of disillusionment among the public, who see the system rigged in favor of the few. As more people recognize this manipulation, calls for accountability and reform will grow louder, paving the way for a demand for transparency and fairness in financial systems. The unsustainable nature of this model is becoming increasingly apparent, and as the tide turns, the elite may find their power challenged by a populace that is fed up with the status quo.
Goverments last as long as the undertaxed can defend themselves against the overtaxed. -- Bernard Bereson
*STARTING* early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works.i wish everyone reading the best of luck in achieving their definition of success!
You're right
That is why I had to start forex trading 2months ago and l now am making benefits from it.
speaking of forex trading I know I am blessed if not I wouldn't have met someone who is as spectacular as expert Eugene Murphy
The very first time i tried, i invested $2000 and after a week, i received $19000. That really helps me a lot to pay up bills
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Eugene Murphy. A widely known crypto consultant
Amazing concept and gold information! May God bless all that read this with one million dollars this year!
If you are rich but if you average forget it this information is useless
I Hit $113k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started crypto last month July. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
Nick Syiek's strategy has been instrumental in helping me navigate the past few months. Without it, I don't think I would have made it through
He's mostly on telegrams, using the username...
@Nicksyiekk
On TEL
GRAM...
I greatly admire Nick’s ability to tailor strategies to meet individual needs. He recognizes that every investor has unique goals and risk levels, and he adapts his advice to fit those specifics.
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.
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. 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.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like *Marisa Breton Dollard* who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
Point 1) is not exactly correct. Money spent to increase inventory is post-tax money.
For example, if your company does $1M in sales with a gross profit of $450,000 and operating
expenses of $350,000, then net profit is $100,000.
If you spend $80,000 to increase inventory, you pay tax on the full $100,000, not $20,000 as
some people assume.
The IRS essentially sees inventory held for resale as money in the bank.
BEcause it is money in the bank. The inventory will sell. Ussually sooner rather than later. So why deduct and then recredit?
🇨🇦 Marginal tax rate I calculated a few years ago was 37.5 %. Without any deductions it can be somewhere north of 50% combined Federal and Provincial, then there’s consumption at 13-15% on goods and services depending on where you live, and that is with after-tax money. Tax freedom day keeps getting pushed further along in the year, never mind municipal property taxes.. tax,tax,tax,tax,tax.. 🇨🇦 aka
Taxania.. Lol!! 😂
Alux reinventing their visuals on their videos is refreshing. The style is so sleek you know it's Alux.
Rich not paying taxes is a myth. I did taxes for a firm that had a lot of Wall Street specialists. Those are the guys who sit in the trading booths on the floor. They made between 1.5 and 2 million dollars a year. After all their sched A deductions, they ended up paying around 600k to 700k in federal taxes. The only client we had that didn't pay any taxes was a guy who lost his business.
The top 10% pay around 70% of the tax burden in the US. Yes there are a few high profile people who don't pay much but those are the exception, not the rule.
Love this subject!
5:30 I saw “really eyes” but I heard: realize
Becoming financially literate has taught me a lot that the average Joe won't ever know. Part of it is: there is nothing bad in avoiding to pay taxes. another part of it is: you should want everybody to pay as little in taxes as they possibly can.
lol so the government can become insolvent and the poor and middle class suffer even more…yeah, nothing wrong with your proposition.
I am in 🇨🇦 🍁 🇨🇦 marginal tax rate federal + provincial about 34% + 13% on almost all purchases made on you net income in addition to property Tax and your bills ....🤔. Maybe a move to Switzerland would not be as bad 😂
No you just need to turn to God the living God the same God that was with Israel but is not now when Israel confesses Jesus then we would Israel was blessed like in the old days😂 Jesus is truth. If you don't put Jesus first any government will f*** you.. and you better listen to the shittiest this song called Vaseline by ice cube lol if you want to listen to the realest this song in history listen to real muthaphuckkin g's play easy motherfuking e
Kendrick Lamar is not the king of Compton he's not even king of himself because he's fighting little drizzy Drake
I'm king of valet as a whole. .. you see you might know me as Jose. But I own L A
My name is abelardo by the way abelardo with a v instead of a b
My wife's name is Lolly
Lolly and Alfie lol 😂
19y, starting a startup with a big vision from homeless, let try this game
Best of luck. 👍🍀
I wonder whether people who say that they want to "increase taxes for the rich" realize they still won't pay much or not. Of course, the first option is pretty terrifying, as that means they knowingly target the middle class, which in turn helps create a system where there are only rich and poor.
That’s the thing they don’t realize it.
You know the rich and middle class are two different classes, right?
Okay, but if you have an American passport, youbDO in fact have to pay something on earned income. Unless you give it up entirely.
being financially literate will do that for you
Thought they already made this video
Why does every single creator that talks about money on YT have to say " Not finacial advice?"
Liability that’s all.
Covering their asses
Because there are too many idiots who _still cannot discern, evaluate, or think for themselves_ and _look for anyone to blame for their own choices_ they were responsible for. That being said, _even when_ the person/helper says "not financial advice", those same weak-minded people _still don't listen and would blame others anyway._ That's their mindset that no-one can ever fix.
So they don't get blamed for thier viewers misfortune.
So you cannot come back with a counter claim saying you heard it from a certain person on the world wide web plus it basic knowledge all over nowhere days that is ! They are protecting themselves against claims Aluxer if things so pear shaped on that advice !
09:50 I saw it in Ambani's Great Wadding 💍⌚🚗
According to the IRS the top 1% pays over 40% of all Federal Taxes.
42% Gst on almost all goods and services😰
Taxing the income of productive citizens whether it be the humble worker or Rich business owner is counterproductive and nothing but government theft.
Congress had to amend the Constitution in 1913 to make the income tax legal because before then it was unconstitutional and thereby illegal.
Before then only taxes on consumption, such as a sales tax or a tariff, and property taxes by local municipalities we're allowed in order to fund vital services and defense. Only taxing consumption is better because it discourages excess and waste but encourages saving, investing and the efficient use of resources.
19:00 I pay 13% Tax
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I live in the " People's United Republic of California" we have taxes on top of our taxes. Right now the growth opportunities to me are immeasurable, so my family stays. Eventually, retirement comes in a more tax-friendly state. Or country. Look for opportunity! 😊😊
Same here, I can't wait to leave Cali
I am planing on becoming a billionaire and I’ve seen a lot of videos about money you that they all talking to poor people yeah i still poor and I’m 16 btw but this channel is different so yeah
This is why, we asia never let them take a breath. Throughout history, if a rich is so rich, the poor would overwhelm and become rich while the rich become poor so that the pain will continue in loop like this.
But if the rich is a good and prosperous kind not those type, they stay the same since they only want to live their lives and have a heart to help the other that are unable to passing through those borders. But it’s still very rare.
What of the listed items apply for a salaried employee wanting to own a side business that makes little profit, for example, a RUclipsr like this person?
Pretty f’d up when you figure out you’re indirectly funding highly illegal and immoral activities as well.
The top 10% of people pay 75% of the income federal taxes The top 25% pay 89% of the taxes
Yep, it is some variation of this in all the developed nations. The poor may pay some tax, but they get far more back from the.governent, so they are net takers and don't contribute to the tax pool.
Super video
Love the content, but you might want to scrap the captions. They are frequently wrong and distracting from the visualizations. We can turn on RUclips's built in captions if we need them.
Rich people are wealthy not because they don’t pay taxes. Rich people pay more taxes if you combine all the various taxes and fees they have to pay.
If you don’t think you are rich and you pay too much taxes, its because you believe the politicians and government telling you that you are paying what you are supposed to pay, and others are NOT paying so they got rich.
Politicians work with budgets. When they need more money, they TAX you more through various channels - income tax, sales tax, ….etc.
Anytime you see an increase in tax, don’t vote for it, regardless which group they are going to tax on.
What u saying is elon musk paying 100 billions on tax???
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The ireland move may take a hit once BEPS / minimum tax is in place. Wonder what will happen next...
Great video. As of 4:11 great saying - never thought of it like that.
2so, functionality of the state depends on poors? pathetic
It's always been the middle class&working poor pay all the taxes, &alot of us don't have those access.
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35% here in Mexico for taxes
*Why was this re-uploaded ??*
In India the salaried people pay tax of 30percentage for the amount that we receive above 15 lakhs 😢
THANK YOU!
Knowledge...
And being at the right place at the right time... that means providence
Don't know in US but here in Italy #2 is not that easy, as only assets/services that are really inherent to the business can be deducted, often not in 100% form but rather in 20% or 50%.
Hospital is not free in Switzerland, you have to have assurance
I'll be watching this one over and over for sure
In Las Vegas, Nevada I don't pay taxes because my income is labeled non-taxable. I live off of VA disability and Social Security. There can be much honor to the military for that. I would recommend this route for anybody that wishes not to waste their time in the workforce or chasing the wealth pipe dream.
Kiss that goodbye at this rate cuz illegals need ur money
Wealth isn't a pipe dream if you know what you're doing.
It's time for an UPGRADE
Ohh it’s coming don’t you worry just a couple years more
How about including how much in taxes the rich businesses pay for EVERY Employee’s income taxes, social security taxes, Medicare taxes, on top of salaries, retirement 401k savings matching. Basically the rich pay ALL taxes the governments collect. Example…every other tax the employees pay from their earnings
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does any of those ways work here in germany?
Do the same video for Canada's laws
It’s gotta end the greed. I’m fine with wealth not ok with greed. I won’t live the rest of my days on this planet being used. Nope. I will never worship money or power.
It depends on what you do!!!!!! I can't reinvest!!!!!!!
No, if you are still making a million dollars/year and you donate your painting worth $6 million, you did not just score a $5 million deduction. You don't get refundable tax credits on the sale of investments. In fact, you could deduct no more than 60% max of you AGI for charitable contributions.
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Wow good look.. that part about donating art to museums was Golden
Interesting information
me in switzerland: ~ 16.6% plus health care and other obligations by law, so in the end a forced 35% roundabout.
these i cannot escape.
then i pay my crib and all duties, then i have maybe ~30% left :) 10% i save MINIMUM.
About 25%
I wouldn't want to be rich. I'm a retired electrician and I'm fully content with the life I've had and continue to have. Franklin was right when he said if a man could have half his wishes, he would double his troubles.
Isn’t that weird you mentioned buying bitcoin instead of buying gold bullion!! Because you literally benefit from fooling people but I’m here to tell keeping unnneeded money in gold and other various assets is a game changer
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♥️ Alux
20 % Tax in the U.K
Update
I have one question. When rich people take loans against assets and they take no salary. How do they payback. Can we have some detailed post or video regarding the same. And if it exists someone can please redirect me to that place
good question!
They pay through equity where bank will sell it. Now individual no need to pay tax as there is no income he got as he just paid the loan.
Very good subject and video!! Thanks for showing! ❤
It's cool to pay tax, as one prominent swedish socialdemocratic politician said in the mid 1990ies; notorius for her pile of parking fees and for making numerous private purchases with her state granted credit card as a member of the government. Cool indeed... Good to know where the tax goes.
Upgrade!! It's time!
Colombian tax 33%
We did $48 mil in revenue for fiscal year 2023. I was very nervous about our tax bill. It was $90. $90!!!! For the entire year. I have excellent bookkeepers and accountants. I dont know how it works. I just know they make it work. I asked if we should just pay more. I dont want to get the attention of the CRA here in Canada. They said there is no reason. Everything is correct. I really dont understand how the tax code works. I just know the team I have does know how it works.
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Please can make a video on how to sell a mobile app company
Great Video as alway, very informativ.
Nope. Charitable deductions are phased out for high wage earners.
1: what constitutes “Rich” or “super wealthy”?
2: avoid paying taxes or avoid paying more taxes?
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Fed up paying taxes
Don’t blame the player blame the game
Ever heard of Warren Buffett?
1. Reinvestment for the sake of it will be worse than just keeping it and not having that expense. Only reinvest if there is a worthwhile expense.
2. The company owning it may be worse if there are benefit in kind taxes especially the car benefit they mention.
3. Moving to a tax haven is extremely limited and not a way you can build wealth, you need the money first to buy the £3M+ house there first.
4. Not every business can work entirely overseas. The examples they gave are specifically related to intellectual property which can be moveable.
5. Giving to charity wont let you keep it and if you set a charity up with no purpose, that would be fraud.
6. Getting stock wont help if the business isnt growing. People grow wealth by doing business better.
7. Art is highly manipulated and only the few artists that the small circle in the know decide to follow actually grow significantly. Only buy art otherwise if you like it.
8. No fixed residence is not a great idea as the one you don’t want to tax you may start taxing you.
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I am from Botswana, tax is 14%. in the past 10+ years is has gone from 10% to 12% and to 14%... during convid it wentn back to 12% now its back again to 14%