The 0% long term capital gains tax on "most individuals" making less than $80k of "taxable income" is confusing because most other websites put the taxable income threshold at $40k for "single/unmarried" individuals and $80k for individuals "married filing jointly." So I'm not sure to believe the IRS website or every other tax forum.
Excellent!!! I'm moving my money all over in order to not pay any taxes in the future (since I dropped to almost lowest fed tax bracket last year!!). Listening to your explanations confirmed I'm doing it right!!! Thank you and well-explained!
I've been looking for a channel like yours! Thanks for your content. I'm in Idaho and trying to find an accountant to help me with our currently active LLC, our real estate investments, and a new LLC to start out as an S-corp. Finding an accountant to build a relationship with as a small business owner has been challenging.
You incorrectly calculated the tax due on the k$125 capital gain as the calculation was made as if her cap gain was the full 24% bracket (ie if her gains were $164k, not the k$125)
Joe is correct. She would only owe $24020.42 and not $33602.42. She only owes $9269.76 in the 24% bracket. Cripes, you take $125000.00 times 24% and it only comes up to $30000.00.
I was looking to see if someone noticed the error. had to scroll a bit, as no one mentioned it. It would be nice if an acknolodgement of the error was pinned in the comments. none the less loved the simplicity in the explanation.
can you do another video on investments or trades that are short term in nature (less than 1 year) and what kind of entities best for gains of more than 1mil. Thanks.
Karlton, thanks so much for sharing your knowledge with us. I’m steadily making my way through all your videos. I was wondering if you had any videos already or could give some advice on what to look for and what questions to ask when hiring a tax consultant/cpa?
A very informative video could you explain why your moved through the tax bracket for capital gains instead of being taxed on the bracket that you fall into.
How does person go about getting things set in place for being & becoming a real estate investor with your teaching experience skill and knowledge to become successful when there starting out not knowing the business so there not being taken for ride by sheming ppl an scamers ?
I’d rather just borrow against my bitcoin and never pay a capital gains tax. N let my bitcoin grow 20% a year and pay 5% on the debt. Keeping my asset and purchasing more assets with it
Let's say I have a position in the stock market and sell for over $1000000 profit and I turn around and use that money for Real Estate which I think is called velocity play will I still have to pay Capital Gains?
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Karlton, love your videos. Can you make a video about buying stocks and funding the buying thru a LLC and tax benefits/deductions ?
Your videos are so high quality and informative. Thanks so much!
Karlton, I am on track to be in the 37 percent bracket. How do I become a real estate professional for tax purposes?
The 0% long term capital gains tax on "most individuals" making less than $80k of "taxable income" is confusing because most other websites put the taxable income threshold at $40k for "single/unmarried" individuals and $80k for individuals "married filing jointly." So I'm not sure to believe the IRS website or every other tax forum.
I would like to see a video about Crypto and how its taxed
I am committed to self-development & thriving.
Thank you so much for the information your provide, 💪🏼💪🏼
These vids are so informative. You should have 100 million followers...
Really good information. Saving this video because this is one to go back to remember why we plan
Excellent!!! I'm moving my money all over in order to not pay any taxes in the future (since I dropped to almost lowest fed tax bracket last year!!). Listening to your explanations confirmed I'm doing it right!!! Thank you and well-explained!
I've been looking for a channel like yours! Thanks for your content. I'm in Idaho and trying to find an accountant to help me with our currently active LLC, our real estate investments, and a new LLC to start out as an S-corp. Finding an accountant to build a relationship with as a small business owner has been challenging.
IDK about Y'all, but I can't retain info unless there's a Sprinkler running in the background. Nice Vid 🙂.
You incorrectly calculated the tax due on the k$125 capital gain as the calculation was made as if her cap gain was the full 24% bracket (ie if her gains were $164k, not the k$125)
Joe is correct. She would only owe $24020.42 and not $33602.42. She only owes $9269.76 in the 24% bracket. Cripes, you take $125000.00 times 24% and it only comes up to $30000.00.
Simple mistake but I’ve learned so much from this channel. Really great stuff Big K! Keep it coming sir!
I was looking to see if someone noticed the error. had to scroll a bit, as no one mentioned it. It would be nice if an acknolodgement of the error was pinned in the comments. none the less loved the simplicity in the explanation.
I didn't think that was right, so glad someone else commented about that 24% calculation.
can you do another video on investments or trades that are short term in nature (less than 1 year) and what kind of entities best for gains of more than 1mil. Thanks.
Karlton, thanks so much for sharing your knowledge with us. I’m steadily making my way through all your videos. I was wondering if you had any videos already or could give some advice on what to look for and what questions to ask when hiring a tax consultant/cpa?
@Kàrlton Dennis. . wow. Go scam yourself, scammy mcscammerson.
A very informative video could you explain why your moved through the tax bracket for capital gains instead of being taxed on the bracket that you fall into.
you pay taxes at the level of that bracket for the max amount of money to fill that bracket and then move up the ladder to the next
This information is so valuable, thank you🙏
Golden nuggets appreciate You. FYI I may be wrong but in the example,there’s a grammar issue with sell and sale
Also title misspelled but the advice is great
How does person go about getting things set in place for being & becoming a real estate investor with your teaching experience skill and knowledge to become successful when there starting out not knowing the business so there not being taken for ride by sheming ppl an scamers ?
.....Thanks for your time and consideration.
Next please: How to qualify as a real estate professional.
Does this apply to crypto?
Great job on making this video I think I requested it in the comments I might have to contact you to be my accountant.
I’d rather just borrow against my bitcoin and never pay a capital gains tax. N let my bitcoin grow 20% a year and pay 5% on the debt. Keeping my asset and purchasing more assets with it
That's a good arbitrage ✊🏾
Good stuff.
isn't the $80k for married couples ? I believe the Long term capital gains for singles is $40,400.
are you in CA?
Let's say I have a position in the stock market and sell for over $1000000 profit and I turn around and use that money for Real Estate which I think is called velocity play will I still have to pay Capital Gains?
Check your spelling on intro..Captital
💪🏼
Can I talk to you one on one ?
dope
So you're a God-fearing, praying man, yet you post a clip from Breaking Bad saying "You're G*D Damn Right"....come on man... We can do better.