Tax LOOPHOLES The Rich Don't Want You To Know - Robert Kiyosaki and Tom Wheelwright
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- Опубликовано: 15 май 2024
- Years ago, my rich dad told me, “When it comes to taxes, the rich make the rules.” He also said, “If you want to be rich, you need to play by the rules of the rich.” The rules of money are skewed in favor of the rich, and against the working and middle classes. After all, someone has to pay taxes.
There are many ways that the rich make a lot of money and pay little to no money in taxes. On the flip side, the poor and middle-class toil away for their money, pay more in taxes the more they earn, and then park their earnings in savings and/or retirement accounts. In the meantime, they receive little or no cash flow on which to live while waiting for retirement -- when they’ll live on their meager savings.
Doesn’t it make more sense to play by the rules of the rich, and earn more while paying less in taxes?
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Thank you. Just what I needed to watch. My wife and I are directors of our own business and own a few property, plus other income . I am nearly 52, We have started to save to retire perfectly, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably
maybe you should consider financial planning, It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses
Exactly why i enjoy market decisions being guided by a pro , seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience , been using a portfolio-coach for over 2years+ and I've netted over $300k in that time frame
@@Deanswain19 Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
Well my portfolio manager is Diana Luise Hines you can check her out on the internet yourself. She’s verifiable so you won’t have problems finding her
@@Deanswain19 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Think about how this video can be applied to your situation. Then listen to the video again. Then think again. The answer doesn’t always come right away, especially if your figuring out your business systems.
I own a small construction company, and after learning and buying and reading books, (which isn’t excruciatingly expensive!) I started behaving like a “big” construction company. I incorporated, and hired a bookkeeper. I would venture to say that although I’m a small company, now that I behave like a big company, I can get into the 20% tax bracket. Start with Rich Dad Poor Dad, and read Tom’s book, Tax Free Wealth.
Just stay positive and educate yourself with reading and learning, and never give up!
Cheers,
What books do you reccomend?
Wealth starts with using the right words, and words are free!
wax lynchem nice !
Jay Valentine Martinez if I could like this comment more than once, I would. 👏
How much do you need to Make to be in the 20%? Pardon my ignorance, I am just learning all of this
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"I'm always thinking about losing money as opposed to making money, Don't focus on making money, focus on protecting what you have"
The best way to save your money as a salary earner is by putting your money into certified business deals. Although I am originally into real estate I am now investing aggressively in the stock market.
Investing is one of the best ways to achieve financial freedom. For a beginner there are so many challenges you face. It's hard to know how to get started.
I understand the Facts that tomorrow isn't promised to anyone, but Investing today is a hard thing to do because i have no idea of how and what to invest in, I would appreciate any pointers or tips to help me maximize colossal profits.
@Romanda Burrow This is a great tip, I am considering investing in stocks but I have no idea about stocks to buy or what to assets would the highest yielding potential and so on, Do you have more clues that could help?
It always feels good to know that a good trade system is at work for you and that huge profits would be made, out of your invested capital, be it little or much. Such breeds trading confidence.
Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.
As you plan your retirement, be sure to
talk with a financial advisor who can help you make the most of your retirement investing scheme.
@@harrisonmichael5047 How can one find a verifiable financial Planner, I buy the idea of employing the services of a Financial Advisor because finding that balance between saving and living requires counsel.
@@raychristopher7797 *PRISCILLA DIANE AIVAZIAN* . On the internet, that’s the financial advisor I use. She’s verified; you could also read more about her and then communicate with her. it’s always good to do your research before putting your money into any investment.
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@@raychristopher7797 *PRISCILLA DIANE AIVAZIAN* is one of the most reliable and trustworthy brokers I know
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Wow I'm just shocked someone mentioned Expert Mrs Lucy Mary Liam I thought I'm the only one trading with her
@@rosiejones2079 You don't need to be shocked I'm also a huge beneficiary of her trading, she has been handling my account for months now
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I met her in a conference in Washington DC and after her speech I was opportune to meet her and I started investing, I'm happy today because of Expert Mrs Lucy Mary Liam
Though I started with $1000 but it was successful, it's been four months since I started investing with her and it's been a great experience
The part about small business is wrong. I pay nowhere near 60%. Set yourself up as an S-Corp and you will pay far less, more like 30%. Also the part about big business doesn't take into account double taxation. That money is first taxed at 21% as business profit and then taxed at either 0%, 15% or 20% capital gains tax depending on tax bracket. So an owner of a huge c-corp first loses 21% and then potentially another 20% when they pay themselves (total 41%). There are however some other tricks, but these are not explained .
I think an LLC with S-corp status falls under his position that those on the left can act like those on the right and get some gains.
The way Amazon once paid ridiculously low taxes is by reinvesting capital gains back into assets and other business investments and distributing shares to it's employees. So effectively reducing its taxable "profit" income
Technically you’re not paying far less, you’re paying the same as described in the video. But the amount your corporation pays offsets the amount your assets are worth. That’s the point of a corporation, is it’s not “you”.
Trump 2020
@anonymous do you have to go there in order to file a business license there? or is it something i can do from the states? and there was a tax evasion scandal recently. do you know if it affects the scenario you mentioned?
Year-over-year inflation stood at 6.5% in December 2022-the lowest that figure has been in more than a year. Inflation was in line with what economists expected and gave many of them a reason to believe that the peak of inflation may be behind us. I have approximately $150k stagnant in my port_folio that needs growth. What is the best way to take advantage of this downturn?
you’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner
I am a small business owner and pay less taxes than my employees do because i invest in my business all the time
You mean you don’t pay yourself a lot? I don’t understand
@@thejoxter6315 Correct. The lower the profit, the less the taxes. It’s always great to reinvest profits to create exponential growth.
@@keilanhamilton7587 So how about, say, I owned a coffee shop and I took a portion of my income and reinvested it into my stock portfolio? Would that be considered taxable income because I’m not reinvesting it right back into the coffee shop business?
I’m assuming that if I had an LLC with my stock investments, and treated that as a legal business, that same income would be taxed differently.
@@treyjohn18 Hey, great question. I am confident that you can. However, I would recommend you sit down with a tax lawyer & tax accountant to discuss a strategy to do that. The coffee shop would generate business income & the stock investments are considered investment income. If you work with a tax accountant & a tax lawyer, they can help you setup a structure to achieve your desired goal.
From my personal experience, I do both at the same time. I have a E-Commerce Business & we invest some of our profit into crypto currencies & stocks short term (Less than a year).
For example, if we make $10,000 profit, we may take $2,000 of that & invest it into bitcoin. Bitcoin may increase by 10%. We end up making $200 profit on the bitcoin investment & receiving our original $2,000 investment back.
What our tax representatives have instructed us to do is to pay taxes on the $2,000 business income profit & the $200 Investment capital gain. So basically we use our profits to cover our acquisition of stocks & cryptos but we always pay our taxes on both when we have realized gains from those profits.
@@keilanhamilton7587 Then how are we able to use the profits besides our business growth?
I’m always amazed how long these videos are and how little content they have
It's basically advertising :P
I agree. I didn’t get any helpful information just more questions.
That’s the point they never tell
If you’ve done the research you know exactly what they’re talking about lol. Only thing people advertise that NEEDS to be bought if you want to understand what they’re talking about is a product or idea that they themselves originally created. When you have someone like Robert talking about an idea that’s been passed down for generations, all you have to do is the research 😁
Really? It made perfect sense to me. Watch it again.
Why is he always talking about the same thing but don’t give into real details and how it really works
Cuz ur job to be a student u need to serch and work ur ass up and figure out how!! Start reading books and go ask in real life
Look up the rich dad poor dad books on RUclips. It will give you a better understanding of his methodology.
Read his books and find his game online. It's your job to learn. Or, just keep watching Netflix and sports and video games. Up to you.
@@HkLY45 exactly... People who choose lust over knowledge will always be losers at the end of the road
do your own research all he does is sell his classes.
Any business owner who pays 60% taxes should fire their CPA! Then again, I too needed to educate myself at first, and then ask my CPA's very specific questions - until I found the right one for the job.
I agree 60% percent taxes is basically working to be a slave for the government. I also agree with you on the CPA's you can't just take their word. You have to educate yourself and see what tax laws applies to the growth of your business.
I have a small business structured as a S CORP and I pay significantly less tax than I did when I was an employee.
Crypto Kiwi Salary / Dividend pay out ratio is your friend 🙏
How do I know what percent I pay as an employee?
Exactly, and limited liability
Congrats! So jealous!
@@LaDeeDah When you do your taxes using Turbo Tax it always tells you on the cover page for federal last item listed. The state may not list the percentage. If you are single you will pay more. Don't forget to take into account your sales taxes on gasoline and purchases. It all adds up quick.
loopholes were never discussed. you're welcome.
This video was very helpful! Now I know what kind of business I should start. Thank you
Stop zipping in and out of the video introducing what Robert is going to say. This is redundant and distracting. Just let the video plays on, please.
u tell her glen
You tell em Glen
Tell her Glen
Who's Glen?
But how then can she ride the robert success waves?
Loved this video! I was able to apply the same tax rules towards my own situation with great success. Despite still handling student loan debt I was able to receive SBA financing for my business and can easily use all the tax incentives that apply!
Please keep posting this kind of videos.. You guys are changing my life ❤️❤️
how's it been so far? has the business been going good?
I am learning so much from you Robert! I hope to meet you in person soon!
Thank you for explaining just enough to make me feel ignorant but not enough to help fix it
Very informative, I so wish they would teach this in our educational system.
Greetings from South Africa
...don't we all. It's now our own responsibility.
That's my everyday wish. Our SA world be the better place.
@@ceejayfitness335 thank you, I wish & pray so too
You guys are dropping gems!!!! Thanks so much for your knowledge 🙏🏽🙏🏽
Thank you for the videos keep them coming.
Thank you very much Kiyosaki Family
This is so amazing....where can we learn more about this? Is there a course that goes more in detail?
Kaylen Premchund They both have books.
A guy I worked with had six rental houses and three children, worked in entertainment and paid 0 taxes.
Question - in regards to "Good Debt" is it the Company/Entity that takes on the debt or the person? , I ask this question because obviously if the company borrows, then any earnings that accumulate from opportunities presented from borrowing would therefor go back to the company?
If this is the case then how does the man himself increase his wealth? , are we going back to paying ourselves a wage/salary from the company? in which case we would have feet in both the E & S categories still?
OR are we not focused on the mans wealth and only the wealth of the company/entity in which he controls?
I want to be a automotive engineer and designer
I’m just using this type of information for when I rebel away and start my own company. My company may be small but we will think big.
This is a good intro, but what are some specific tax benefits?
Has anybody ever noticed how he never gives the answer to what is being asked?
Yes
I know you are, but what am I? I can do it too. Lol
Cuz he knows what to answer
Just another ACT put on to try to fool the easily amused.. . and these guys are even terrible actors...Do your own research away from this trash...
Think of it like this, give a man a fish he eats for a day. Teach a man to fish he eats for a lifetime. If he has to hold your hand all the way through you'll ultimately fail in the end.
I own and work at my restaurant....I don't pay 60%. I'm under that for sure. Maybe 30%...maybe slightly less. Don't take the numbers for fact...listen to what he is trying to teach. Stop working for a paycheck.
This is the comment i was looking for...👍
Alpharoth think what he was trying to say is income plus small business but what he didn’t explain is that you can reduce tax the same way a big business can, invest
yeah and i invest in stocks, EVERYONE pays 15%
Wildboy789789 you can invest in other things apart from stocks but he was probably talking about back in ye olden days, either that or people just don’t avoid tax because it’s really low
Alpharon If you are an employee of your own business yes you can pay even more than 60%, only if you have profits, Let"s see if you are an employee of your own Scorp you have to pay according to your wage let's say you pay yourself $40K a year on payroll which is in the 12% within bracket as 2019 tax rate, now out of that same 40K you have to pay FICA, Remember 15.3% (you are the employer and employee) plus 6% VA taxes, (maybe other states is different), on your wages only you are paying NOW 33.33% so far!! that's as an employee, now you also have to pay taxes on your entire profit from your business, pass-through entity, let's say gross earning 100K minus expenses let's say 50K net earnings minus your standard deduction (if single 12000) 50K - 12000 =$38000 which is on the 12% on within bracket for federal taxes PLUS 6% VA state taxes, with a total of 51.3% that's an approximation, now if you total AGI exceeds 84200 your tax rate goes up to 22% and easily pass 60% in taxes.
I'm a 13 year old and always idolized Robert, but I feel like I'm way too young for this, but it doesn't mean I can't take tips from you. You good guy T.
Edit: Heya! I just wanna stop by and say that my brother is doing great in stocks and also appreciates Kiyosaki's work. He is very inspired by him and so am I, but I'm still way to young :l
Still taking notes!
ME TOO MAN!
@@austink.8349 aayyyyyy
@@sushi-6129 How you doin mate ?
Hey Alexandra, how are you? Thank you so much for this channel, the information Robert and his team of experts provided has been life-changing. However, I think you can improve the structure of the content of your videos. I think the introduction before every videos is very good; however, I find the interceptions, or interludes, between conversations quite distracting. I think it might be a good idea to keep the video flowing without those interceptions, just like your older videos in which you and Robert, or other experts just have a discussion with camera cutting back and forth. Thank you again and have a good day!
This is NOT her channel. It's Robert's channel, she's just an employee, get it?
So are long-term investments in stocks and bonds (like Warren Buffett) bring us to the 'investor quadrant'? What's Buffett doing differently from people in the 'E' and 'S' quadrant?
This is great advice but understand that taxes are unique to everyone. For example, with the use of an S-Corp in small business. Use S-Corps to create left side income; funnel left side income into right side income (left side - ordinary income... right side - passive income)
i am thankful you sir .
I appreciate all the work you do, Robert. I think a big help would how all this applies on a tax return. What schedules apply, what is written off as a deduction. I had to figure this out my own.
This video does not explain any tax loopholes or stragities .....it's just a vague concept.....need more explanation
you need to pay for the financial education xD
Question that :) .
I consider this series a primer ... something like 'My First Tax Seminar' ... Like legal advice, it should be personalized to your situation ...
@@therealkevinpowell well when you own a small business there is a lot of things you can write off.so when you buy more things [investing in your business] for your business you pay less taxes for your business.
@@alfredoluna5378 right. Small biz 101. The big thing with RE: depreciation ... that's one biggie how you make more money (cash) and pay less tax (due to, for lack of a better word, a "virtual" expense)
I like your video presentation. It is informative too, at the same time. Thanks a lot for your guidance!
👍👍 Always dropping nuggets...No matter what you just have to pay attention..and take action... no matter what kind of nuggets Robert drops it always helps me in my business somehow some way..THANKS Rob..🙏
please make a video on "how to get to the right side when youre on the left" ...... and loved this video, and its very informative...
Just buy his book
Thanks for sharing this advice with everyone, now stop repeating the same darn information and show us how you really do it! We would like to see more passed the introduction. Thanks again for wanting to change the world one broke person at a time.
Sir Robert Kiyosaki please make one video on how you buy oil well & other commodities...
Thank you so much Tom and Robert
In the video, he mentioned even if you’re on the left side you could still act as though you are on the right side. Could you please make a video explaining how to act smart even with a small business? 🙏🏽
Haha yeah I want too know the answer to this too!
You may just take a quick look back @ 6:20, there he share a glimpse on how to be on the right side quadrant. Hope you see the point. Good luck 😋
@@exoYTV thank you 😊
The government want producers.. not so much of the consumers* Also every dollar you invest back into your business you get a tax breaks.
I was looking for that to be answered in the video as well. Would be nice to have more practical tips and examples of what people in the left quadrant can do to reduce tax burdens.
I started an LLC as an individual. My debt is bigger than my income right now because I'm scaling my business, I get to claim that on my taxes, so far I'm getting a bigger refund than my income from my business. I think that small businesses have that advantage in the beginning to reinvest in their company with that debt.
Monthly payment to loan repayment, that is not tax deductible
In the UK it's 20% tax for self employed, 39% if you run a Ltd company
I love all of you. I appreciate all of you. This forum is stinking wonderful. I love all the education. And all of the comments. Keepem coming. Yes. Yes. Yes.
Robert has come from the heaven & I'm saying that with all my heart and soul , because I know the tax shield & I'm exploring & doing all my effort to educate more , but the thing that I'm sure is that , Robert is the best real adviser of all time , just God knows how much I love him , good luck GREAT MAN
With the black background it’s fun to imagine them floating in space while giving earth tax advice
lol
Lol great observation
How old are you?
😆
You really need therapy
Thank you for the knowledge 🙏
Como puedo encontrar estas capsulas directamente? tienen otro canal? do you have a special play list???
This does make sense, when you re-invest you receive tax breaks.
Alejandra, ¿cómo estás tú llevando a la práctica estos consejos? Ayudaría mucho escuchar tu historia. Robert está algo "inalcanzable" para el promedio de las personas, sobre todo millenials, aunque todo es posible. ¿Qué tipo de actividad profesional recomendarías tú a chicos de tu edad? ¿Qué tipo de negocio tienes a la vez que trabajas en la empresa de Robert? ¿Cuál es tu estrategia para salirte de la círculo vicioso y empezar a invertir? ¿Cómo vas a aumentando tus posibilidades de conseguir préstamos para invertir en bienes raíces y seguir haciendo crecer tu negocio?
What is your thoughts on drop shipping?
Thank you so much for this very informative video. What exactly is good debt ? The interest you pay on it is like extra taxation. Is good debt a low interest rate like 4% since there is no way of getting any debt unless you pay some interest to to the loaner ?
Good debt is applying that debt income to something that will generate more money , employment from where u keep paying your debt with earned money because of increased number & your tax bracket is 20 or shark zero .
Any thoughts on how using a 'good debt' for 'B' & 'I' applies in EU? Does that work globally or solely in US?
How exactly do Investors pay 0% ?
5:55
Men if I invest 10k and I get 100k I pay tax soon is touch the money
Very good explained. But what about Italy? And more: how can we get a loan from a bank in order to buy real estate if we don't have a business or a job? In Italy you need an advance of your own, 2 jobs (yours and the one of the person who is going to guarantee for you)...
This is very informative.
Thanks Rich Dad.
Superb video ppl.. I always look forward to a notification from the rich dad channel.. I hope one day to be a free man to do all the things in life which makes me happy and not have to worry about getting up at 7am everyday to abuse my body. Keep the vids coming :)
I also don't like the way this girl interrupts the video
Does Robert Kiyosaki, the biggest financial author, need introduction, by a girl whom we don't know
Not at all. She's cute, but id rather not have her here lol.
She's one of roberts employees, that's why.
Hi there
Myself Param Rathod from India
How should i start learning about tax benefits and to implement into my business.
Love the channel. Look so forward to this 2022. You guys are the best.
Can you pls explain briefly what does professional investor do. I thought of investing in stocks, where as Robert says that investing in stocks is losers thing. I am little confused. What is investing in real estate or rental property.
I am from India, and I have read Rich dad poor dad :)
Being a pro investor requires a lot of training, documents reading, clear vision on the future and guts.
You can invest in stocks by yourself (that means, you search for companies you understand what they do and you spot a high potential in the next 5-15 years) or you can ask to any fund management bank to take care of your deposit.
Robert said that the real estate gives more return than the stock market (which is not necessarily true).
Investing in real estate can be like :
- you buy 2-3 parking slot and then you rent them
- you buy an apparent and you rent it, with the rent, you can pay the bank loan and put some $$ aside to buy another place
- you invest in a venture capital that regroups a lot of investor like you to buy a apartment lots (like 200 investors for 1 lot that contains 6 apartments)
Those are just examples.
But I suggest you to call one of the real estate company around you and setp up a meeting to talk about the projet to buy an apparment (for exemple) and how it goes. I did the same to know how a loan work for the bank. I set up a meeting with a guy who's expert in company loans and I asked everything I wanted to know.
@@Apneistefou Thanks that was really helpful.
@@imabanana5334 Glad it still helps 3 years later.
Robert is a human being !!!
Anyone know best resource for education regarding UK tax laws. I realise they will be similar but also different enough to be important.
Awesome information. But the cuts are very annoying.
How does debt bring about tax benefits? Explain thoroughly for me plz.
What are the point of these videos? He always seems to talk about the problem but never gives a solution, or examples of how to do them.
Exactly
I'm yes he does. One rent things people would like to use. Two make a business and at the beginning keep loads for tax's till you reach 500 employee s. You just don't understand any of it.
@@trishawallingsford4146 I own my own business. I've got loads of cash wasting away in a checking account. I'm looking for things to do with it and he makes no sense to me. It doesn't mean anything to tell someone to invest in real estate. That's too broad of a statement. He needs to be more specific.
@@briansamphs3720 I could agree to that, not everyone can see the little things missing. But that would take a long time to break it down fully.
It's to inform, not offer solutions. Having solutions thrown to you would take too much time. If you're invested in an idea get educated and learn for yourself
Thank you for the tax lessons
Great info. I would keep the caps off the magic markers though. 😃
How to shift from self employed small business to big business and invesstor quadrant
if you ask those questions it means that you most likely wont achieve it
@@entrex7596 asking questions is essential. It reduces risk and failures. I don't follow anyone blindly. Millions have read rich dad and poor dad series but how many of them made it happen despite taking action. He only talks about problems which everyone knows and gives solution which seems common sense when looking at the problem. I am simply asking how to actually implement the solution.
@@humanbeing20118 Some of agree but it's same as you would ask somebody what business to create the decision is on your own.
What I learnt from the video is, take loans and get into debt, that way you are taxed less and you can start your big company.
Don't invest money on stocks or bonds yourself, get an adviser, if you are a beginner.
The big investors invest in income generated real estate, meaning you earn a passive income from them.
Just having a lot won't do, as it generates no income, but getting a flat and renting it, becomes income generated real estate, because when you sell it in 10 years time, it will be more than how much you paid for it in the first place.
Hi guys, you're doing an amazing work out here. I've got an idea, why don't you throw in a video with an example of how to get huge from a salary as small as 1200/ per month ?
Very true being practical is very important.
The "Bigger Pockets" channel is what you want to check out.
Number 1) live very frugal for a while. Minimize expense. Live in a room.
2) work very hard. Spend a lot of time on your job, so you aren’t doing 1200 a month. I started by business 6years ago making $1100 a month. Work at least 60hr a week. Also, move to expensive city.. at NY, minimum wage is $15 an hour. So if you work 60hr a week, that’s $900 a week. Almost 4K a month. Take 1/3 out as taxes, you still get 2.7k a month. Live off half of that.
3) take the money, invest in a business course by someone reputatable. I did ebook business, but service or consulting probably would be fastest to hit 10k/month. Look into Freedom business mentoring by Max Tornow.
4) hit 10k a month, claim your time. Then scale to 50k a month, file for corporation. 50k a month above, you build systems, hire employees.
5) continue to be frugal. Live off 2-3k a month is good enough, reinvest everything back into growing business.
Still have extra cash? Invest in public market or real estate. Don’t waste money on Rolex or Lamborghini, be frugal, maximize work and savings and reinvestment. Do it for years... when you have a couple million dollars, then you can spend more on personal expenses and vacations and luxury.
Pay the price first- work very hard, and not blow the money for a couple years at least
Ainda não falo inglês mas vou continuar assistindo suas aulas até compreender o idioma.🇺🇸🇦🇴
Thank you for this vid 🙏
I love how he holds the marker more like a sword than a pen. And yet it's perfectly legible. Kinda cool.
Japanese genetics.
How ominous.
Can we be rich without degree
thank you very much sir for this video
New Follower. Entrepeneur for 9 years, business owner. Could not figure out why this isn't profitable. With Roberts help it all starting to make sense now. Thank you for your wisdom you are sharing.
And everyone here will be back to there job tomorrow as an employee lol
Speak for yourself lol
Nothing wrong with being an employee, there's a lot wrong with staying an employee
😂😂😂😂😂😂😂😂😂
Nooo...
I will never be an employee, and I know a person that have never been an employee
I’ll be back to my business with all my employees paying taxes
Is there a library of books on what you guys have learned this information in or website ??
Thank you for sharing this info 🙏🏼👌👍✌️
Love it, great video, really deep and so useful information. Thank you so much Robert, thank you so much Alexandra. You gave me a great idea how to move from small business to investor side.
He never actually answers how he does not legally pay tax.
Watch the 2nd video
He doesn't declare what he fully makes just shows what he wants them to see lol
By ussing good debt you can avoid taxes.
If u r a uber driver and makes 30k a year, but u spend 30k in gas and car spensive... U pay no tax. If u r an egg producer and makes 1 million but spend that million buying more chickens... U pay no tax...
Luis Grados ok so you basically use the money you get imedieatly before you get taxed? Invest it
One thing I think Robert should tlak about is how debt is and asset. Maybe talk about how it multiplies the balance sheet
Don't you think by avoiding taxes, you are not doing yourself a favor. Taxes are really important for the overall growth of a country. Germany is not a tax haven, that's the reason they have free schools, colleges and not a lot of disparity between rich and poor.
Just look at the states or countries with low to zero income tax, they always have high sales tax or high college tuition or expensive healthcare systems. Its a zero-sum game and we are just shooting at our own legs by legally avoiding taxes. What's the use of being a few dollars rich but everything around you is unaffordable. I rather be a small boat in fast flowing river than a huge ship in a stagnant river.
I have a "small business/self employed" and I don't pay 60%. more like 4-10%.
you get taxed when you spend money, he adds that
You use your deductions like a smart man. He’s referring to people who don’t. I’m glad your doing well. Don’t flex tho
Thanks for that i just love learning financial education so i can put it into action
Me too!
I luv grls in bikinis
Thanks Guys
Hi and thank you for this presentation really helpful. My question is what you mean "good depth" how you define "good depth"?
It's debt...there is another video for that
It's really interesting and I have been applying it as well but I do experience that the overhead in moving income that I get out of my primary skill (step one: always learn a profession) into an investment is taking up so much time in managing that investment... Maybe thats why for example turn key projects are actually more interesting than apartments that need renovation.
- more time needed
- less intrinsic purchase value so you can deduct less
I love how the whole point of this video is to talk about tax loopholes and they didn't talk about one tax loophole
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Aim to shift from Employee/Self-employed quadrant to other right side (Investor & Business)
@@FinalPiece you do realize how that isn't a loophole.
@@live2rock565 watch the video again all the way to the end i promise you they talk about a couple loopholes
“Tax Loophole” it’s just simply properly using the tax laws to your advantage by properly strategizing. He’s showing you the “Tax Loophole” via the quadrant. How to minimize your tax liability when you switch sides or operate from the other sides. Perhaps one can start being on both sides and gradually completely switch. There is no cheat codes or magic formula. It’s simply using the tax laws to your advantage. That’s the “loophole”.
Nice work. Thank you.
How can I edit out the multiple introductions?
I'm 12 years old and I have already done reading the Rich Dad, Poor Dad
Memalabby keep up !!
@Julian Pang how many year old are you?
I'm Julian's Sister and I've also Read the Book Rich Dad, Poor Dad. If you like it, you should really read: The Magic of Thinking Big, The Power of Habit, Relentless, How to Make Friends and Influence People, Tax Free Wealth, and The ABC's of Real Estate Investing. They're all really good books.
@@julinkapang5997 nice to meet you both, what are your names?
@@memalabby I don't think that we should tell you; Our Dad doesn't like it when we talk to random people. Sorry. I can ask him later though.
This guy used that quadrant to make a small fortune. every time he opens his mouth he talks about that quadrant. that's it. repeat.
hahaha
How does this work in UK with capital gains taxes etc.???
Thank you for the info!
I get it! So it's about knowing how to use debt.
👍
And how ?