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YOU ARETHE ONE "Clear value Tax" WHO ALWAYS TELLING US THE ACCURATE INFO AND THE LATEST INEWS!!!!!! YOU DESERVED TO HAVE ALMOST TWO MILLION SUBSCRIBERS!!!!!!!!!!
Hey Brian, long time watcher, I was wondering if you'd be able to consider an updated 1099 for gig workers video. I am just getting into this and would love to keep doing it, but I am completely lost with taxes, Sending love and holiday wishes❤
You can carry it over the next three years I believe. So you can claim another three grand next tax year. EDIT: According to intuit, you can do this indefinitely until your losses are used up
@@tonywong8134 So when I do my taxes, it should just automatically carry over then? Got it, thanks you. I'm down about 10k this year. Too bad it's gonna take 4 years to get all of that back.
@@Ageleo No, it does not automatically carry over. You need to do the 3000 max every year. So this year it will be 3k, 2024 it will be 3k, 2025 it will be 3k, and 2026 it will be 1k. Assuming you don't have any realized capital gains. There is an IRS form you will need to fill out when you carry it over next year.
I just did the end of the year expenses big time bought another major lawn mower last week to replace the older one in my fleet. 22,000 off my business income to go with the 23,000 for its sister mower we bought this spring . Add in some replacement 2 cycle equipment and I have close to 50k in new purchase write offs this year.
thanks for sharing information. Lot of cpa wont even tell you all the things this video did. The slides and animation helped as i have adhd and would have lost focus.
I’m in such a hard spot when it comes to maximizing tax benefits. I’m single, no kids, make 170k and can’t take advantage of any tax benefits because I make too much - not even deductions for student loan interest. They already take out so much in taxes, very annoying.
Hey thanks for this video and the YT algorithm for putting it in front of me. I found about $5500 I was going to have to spend in early 2024, but moved up the schedule to get the reduction to my tax liability. Best part is I have 90 payment terms from where I paid it, so I should have my tax return efiled and direct deposited by the time the payment is due. I’ll take the small win. Thanks.
YOU ARETHE ONE "Clear value Tax" WHO ALWAYS TELLING US THE ACCURATE INFO AND THE LATEST INEWS!!!!!! YOU DESERVED TO HAVE ALMOST TWO MILLION SUBSCRIBERS!!!!!!!!!!
You do pay taxes on Roth on the gains if you take the money out before retirement The capital losses from stock are limited to $3,000 on your personal income
I called Vanguard & did the Roth conversion. Easy to do. Then in Feb I can take the $ I owe from the Roth to pay the IRS. Isn't there change in 2025 where convert from 401K will go up in every tax bracket 2-3% so I saved in taxes by doing the Roth Conversion today.
You cannot state that Roth proceeds will never be taxed again. The government's appetite for spending (and hence taxation) is insatiable. Once it wants your money bad enough, they will simply change the rules.
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1:17 - Sir! You are Amazing!!! You Organize your videos SO well - Incredibly clear and concise and helpful.
Thank you for all the support fgbowen!
@@clearvaluetax9382- well sir - absolutely 100% you deserve it.
The best LEGAL way to not pay taxes to governments is...to not make ANY money at all.
In other words spend it all legally pre-tax:)
🤣🤣🤣🤣🤣😅😅
Cash only business lol
Best non legal way, act crazy and get them to send YOU money!! 😈
But then you can’t afford basic necessities.
This beautiful man helped me through the pandemic with so much info, and he's still banging out quality content
Brian is the real deal, thanks for sharing your knowledge with us.
This is definition of SOLID ADVICE!!! Thanks bro people charge for this simple stuff but make it complicated
Brian🌿 Thank you for not forgetting us! We appreciate you sharing your knowledge and experience,! 🎄
You're literally my hero Brian I learn so much from you. Thank you for teaching me things we should be learning in high school
The point of school is to brainwash instead of prepare you for life
He should be an elective in High School 😎👍🏼
I really appreciate your channel and the valuable insights you provide on various govt situations that personally helped me to stay ahead..❤
As my father, once told me make as much money as you can, because most can’t and then worry about the taxes later
This is actually really good advice. Good refresher for people too. Great video.
Protect this guy with all costs! We all need Brian!
Excellent breakdown of tax savings options. Well done.
Just made my 529 savings plan. Thanks Brian! I appreciate your hardwork!
Congrats Genesis 0 Tech!
YOU ARETHE ONE "Clear value Tax" WHO ALWAYS TELLING US THE ACCURATE INFO AND THE LATEST INEWS!!!!!! YOU DESERVED TO HAVE ALMOST TWO MILLION SUBSCRIBERS!!!!!!!!!!
Hey Brian, long time watcher, I was wondering if you'd be able to consider an updated 1099 for gig workers video. I am just getting into this and would love to keep doing it, but I am completely lost with taxes, Sending love and holiday wishes❤
I agree! Brian, can you help us with more tax deductions with us self employed!
Set aside 30% of your 1099 income for taxes! Pay taxes quarterly also to avoid interest penalties from the IRS.
Just open up an LLC and run all of your income through the LLC
Brian I absolutely lovvveeee this channel! Thank you for sharing all of your knowledge and wisdom with us. May GOD continue to BLESS you for this!
How about just delete the irs
I definitely loved getting this information today as it refreshed my memory on some things that I do not use but have friends that do.
Thank you for sharing your knowledge Brian. I am truly grateful to you. 👍🙏
I'm a tax accountant, and I come to you, Brian, for my goodies :D thank you!!!
Tax loss harvesting has a limit. It was 3k in 2021.
Lost about 20k, but was only able to deduct 3k. The limit might be a bit higher now.
You can carry it over the next three years I believe. So you can claim another three grand next tax year.
EDIT: According to intuit, you can do this indefinitely until your losses are used up
Do you need to do anything special to carry over the losses forward?
@@Ageleo No. Also, see the edit. You can do this until your losses are used up.
@@tonywong8134
So when I do my taxes, it should just automatically carry over then?
Got it, thanks you. I'm down about 10k this year. Too bad it's gonna take 4 years to get all of that back.
@@Ageleo No, it does not automatically carry over. You need to do the 3000 max every year. So this year it will be 3k, 2024 it will be 3k, 2025 it will be 3k, and 2026 it will be 1k. Assuming you don't have any realized capital gains. There is an IRS form you will need to fill out when you carry it over next year.
The video is very informative, well made, and easy to follow for anyone.
We knew brian had money in the family 😢 he just using his higher education skills to do right by the people❤
I just did the end of the year expenses big time bought another major lawn mower last week to replace the older one in my fleet. 22,000 off my business income to go with the 23,000 for its sister mower we bought this spring . Add in some replacement 2 cycle equipment and I have close to 50k in new purchase write offs this year.
Great video, thanks! You’re reminding me to purchase things I need for my small business NOW.
I love your videos, so glad I came across them. Thank you so much for the knowledge.
I love this new format. Thanks!
Happy Holidays, Brian! Thank you for your wonderful advice. I always used the pre tax commuter benefit and fsa to reduce taxes.
That's why we love you so much Brian! Thanks for all the reminders for us!
Just check the “exempt” box when filling out your w-4 🤷🏻♂️😉
Yeah but don't you have to pay that back when you file?
@ I wouldn’t know. That time of my life, I just never filed 🤷🏻♂️
Keep up the great content, very much appreciated Brian!
You explain things so well! Thank you so much for all the info!
Great job for the ones don't know about this help is always needed and your good at that
Happy Monday Brian!!! Have a great day!🌺☀️
Thank you and I wish you a great day as well!
Don't forget about the new energy credits
Thank you Brian love ur videos.
Thank you very much Brian for taking the time and making this very important video.
Thank you Brian! I learn alot from you and i Appreciate all your videos.
Brian is for the people
Thank you for your videos.
thanks for sharing information. Lot of cpa wont even tell you all the things this video did. The slides and animation helped as i have adhd and would have lost focus.
I’m in such a hard spot when it comes to maximizing tax benefits. I’m single, no kids, make 170k and can’t take advantage of any tax benefits because I make too much - not even deductions for student loan interest. They already take out so much in taxes, very annoying.
Extremely annoying. And I am personally sick of it.
I’ve thought of that too. However maximizing on tax deductions doesn’t nearly come close to the liability costs of having children.
Def max out your 401K or retirement plan. Got mine at 25% of gross now given it is pre-tax. Better then giving that money to U Sam
Don’t complain. Most people would love to be making $170k.
Same here and this is not enough to live in NY😢
more of these tax shelter vids please, thanks for the good stuff
These videos are always appreciated. Thank you for all you do!
Love the slides. Very useful. If you can do slides with your future videos too that would be great! Thank you for all that you do!
I really liked the illustrations. Very visual for me. Thank u for this video.
Hey thanks for this video and the YT algorithm for putting it in front of me.
I found about $5500 I was going to have to spend in early 2024, but moved up the schedule to get the reduction to my tax liability.
Best part is I have 90 payment terms from where I paid it, so I should have my tax return efiled and direct deposited by the time the payment is due.
I’ll take the small win.
Thanks.
How much do you make, where you need to spend 5k to actually pay less? Genuinely curious
Thank you Brian for your great advice!
Crystal clear
Thank you for sharing useful information
This conent is invaluable!
Breaks for the little guy (as applicable) 👍🏼
Thanks for the video! I really like the new illustrations you’re adding too.
12:00 People still use checks to pay on things where I work.
Some vendors want a check to avoid the transaction fee.
Hey Brian, nice to see you again
It’s always great to see you!
It’s so great video… I was looking for…
Taxes are really headaches every year for us. Thank you ❤
But Welfare Queen Israel needs your billions.
YOU ARETHE ONE "Clear value Tax" WHO ALWAYS TELLING US THE ACCURATE INFO AND THE LATEST INEWS!!!!!! YOU DESERVED TO HAVE ALMOST TWO MILLION SUBSCRIBERS!!!!!!!!!!
Awesome helpful n informative vid. Especially ur step by step explainations. Kudos. Anticipating ur next one. Peace
Wow, five star content. Thank you so much.
Excellent advise thank you for sharing your knowledge with us Brian
We need a flat tax. Right now the tax laws are insane.
Thank you. Merry Christmas and happy new year. 🎉🍷
Thank you for providing so much info.
Brian is the best
You do pay taxes on Roth on the gains if you take the money out before retirement
The capital losses from stock are limited to $3,000 on your personal income
14:29 - Oh-yeah. I Subbed!!
Blessings to-ya.
Thanks Brian!
Happy Monday!
This is real game. Thank you Brian.
Good afternoon Brian what you got for me today, BROTHER!
BRIAN THE PODCAST🦁 LION (the Walter Cronkite of podcasts 🏆)
Thanks, Brian, very helpful!
This channel is fantastic
Very clear and crisp. Awesome video
Thanks for all your insight
Thank you
GOD ❤ BLESS 🕊
Thank you so much for the info. Greatly appreciated ❤❤❤❤❤
I called Vanguard & did the Roth conversion. Easy to do. Then in Feb I can take the $ I owe from the Roth to pay the IRS. Isn't there change in 2025 where convert from 401K will go up in every tax bracket 2-3% so I saved in taxes by doing the Roth Conversion today.
Thanks for this education
My Hero 🙏🏼
Merry Christmas!!🎄🎁🙏🏻
Thanks again! Always saving us money!
Roth conversions are taxed as ordinary income......
Thanks again Brian! Very informative. :)
Brian, you really missed out on the other advantages with an HSA. They are truly the best tax advantage account out there.
Thak you for this ma!
Thank you for the tips.
This chanel is the bomb!👍👍👍
That's the best explanation that I have seen. Thanks for making it. I have another question about the Premium Tax Credit: how did they calculate it?
Thank you!
Thank you, always good information.
Excellent video. Wish I would have seen it last yr
Check with car/ house insurance company. Mine comes out of my check, pre-tax.
Will definitely recommend anyone this channel for financial help❤
Informative video. Thank you.
I like this format..thanks
Great information Brian! 💴Thank you for sharing 😇🙋🏻♀️👍🏼
I’ve never heard of the the long term investment that’s zero taxes. Everything is always taxed on capital gains.
I’m glad this video brought it to your attention then!
I really want to move my 403(b) to my Roth. It makes lousy interest and pay tax taxes at the end.
Thank you so much - we love you!
Thanks for explains the options. I have achieved good profit from fist buying call options and after 2 times rolling over😊
The wash sale rule can be avoided when you sell and buy etfs that track the same pool of stocks
You cannot state that Roth proceeds will never be taxed again. The government's appetite for spending (and hence taxation) is insatiable. Once it wants your money bad enough, they will simply change the rules.