That was cool.

How is he planning to finance this? And don't say tariffs, because at least the massive tariffs planned for China imported stuff is in reality a hidden tax on the low and middle income earners.

Either Americans pay taxes through the income tax, or they pay it through different means, like tariffs, a national sales tax, or value added taxes. Either way, your money will be funneled to the federal government. If the wealthy can push their tax burden onto everyone else, they will do so. Consumption taxes (tariffs/sales taxes/value added taxes) fall disproportionately on the poor and middle class because they allow the rich to do just that. If you support eliminating the federal income tax and you are not wealthy, then you must accept that you will be paying higher taxes that will be shifted onto you by the rich.

When considering stock investing, does the frequency of purchases-daily, monthly, or quarterly-impact the tax implications upon selling in the long term? I am currently allocating a portion of my paycheck for recurring daily investments. Furthermore, are there specific tax consequences associated with these varying purchasing frequencies?

The depreciation advice here is incorrect. The home purchase price is (almost) never the depreciable basis. The taxable basis for the structure is the basis the overwhelming majority of the time.

The problem I face with distributions is I have so many pieces of Equipt I want to upgrade in a business I acquired (its assets as opposed to the company itself) and started an LLC DBA "that company" and so "just taking distributions" here and there as opposed to a steady amount weekly would become cumbersome to track how much and when I took them. Idk its a frustrating thing to ponder and consider; as opposed to just acquire the equipment throughout the year and then take whats left at the end of the year.

Boy this didn't she well

Why any tax? Just print more fiat money. Giant ponzi scheme anyways.

Going straight to ADP, the higher price is worth piece of mind. In business simplicity in structure is key amongst the challenges of operation management.

I use apple pay to send my payments. However, it doesn’t allow me to designate a category for goods/services vs family/friends. However would they know the difference? Do they look at recurring payments?

Same as before, working class pays more and rich and Corps pay far less. Didn’t you Bootlickers learn a lesson before..

Does this apply to Mercari as well?

I’ll believe it when I see it.

No one has seen the “Trump tax plan”. So this is all a guess. These tax change proposals were campaign promises only.

One concern I have is once no longer a sole proprietor, you can no longer represent yourself in court.

Can someone explain the basis with an s Corp and distribution amounts?

He also wants companies to not have to pay out overtime so that’s an easy one

Taxation without representation.

Thank you! So glad I waited to the 11th hour to comply!

Way to crash the economy- no taxes funds = less and less public services, you can delete the SS fund that much sooner and "sunset" it/ problem solved, no more Social Security or services, etc... don't fall for it.

Another way to make small business to pay up. I closed my llc in January anyway

Why should tips not be taxed? It's income. It's a lie like everything he says.

Oh snap I just filed 😂 for free. So for 2025 no more??

Auto loan interest deduction is absolutely stupid. Rewarding people for making bad choices is a horrible idea.

This what happen when you vote for incompetence bidenomic!

Plus how did 26 USC 83 (a) operate in your conclusion that I owe, an income tax on my income?

None of you People understand how the tax laws work in the first place. If you read the tax code and the case law behind it, you'll understand that most likely you don't owe the income tax in the first place because labor is acknowledged as a cost and cost. It's not taxable

In the example of the married couple making $104,000 in capital gains. Wouldn’t the whole amount of $104,000 be taxed at 15% because it falls in the next tax bracket?

Doesn't the loan interest amount payable every year dwarf the amount of taxes paid after a while (once the loan balance becomes significant)? If I pay 30% of a 100K income every year, that is 30K. But if I need to pay 5% interest on a 1 mln $ loan (after widthrawing 100K for 10 years), that would be 50K per year... Doesn't this strategy only work while the loan balance is low, but then becomes too expensive to pay off in terms of loan interest costs?

His goal is to BK the country, he evidently made money with 20 plus BK's, don't look for taxes to be cut for the middle or lower, just the opposite, when the crap hits the fan, embrace it! You knew it was coming, it's what you voted for! Lol

Is it 500 a day or 10000 in fines Which one is it It’s bs

That’s because most people make between $48,000 and $103,000. Government is not stupid. Just want more and more money from the average people!!

saying your going to do it and actually doing it is another story. lets see, Mexico was going to pay for the wall?..Hilary was going to prison?. He will bring down "grocery" bills, which now he says he may not be able to do??..You've been duped again..

I have a person who only works maybe two or three days a month and he tells us when he wants to work. He was grandfathered in when I bought the business from my parents. This person can be considered a contractor correct? Or it doesn’t matter?

yes and it is why they call themselves philanthropic instead of tax evaders.

Thanks Sherman! Here is an update: On December 23, 2024, a panel of the U.S. Court of Appeals for the Fifth Circuit granted a stay of the district court’s preliminary injunction entered in the case of Texas Top Cop Shop, Inc. v. Garland, pending the outcome of the Department of the Treasury’s ongoing appeal of the district court’s order. FinCEN immediately issued an alert notifying the public of this ruling, and recognizing that reporting companies may have needed additional time to comply with beneficial ownership reporting requirements, FinCEN extended reporting deadlines. On December 26, 2024, however, a different panel of the U.S. Court of Appeals for the Fifth Circuit issued an order vacating the Court’s December 23, 2024 order granting a stay of the preliminary injunction. Accordingly, as of December 26, 2024, the injunction issued by the district court in Texas Top Cop Shop, Inc. v. Garland is in effect and reporting companies are not currently required to file beneficial ownership information with FinCEN. www.fincen.gov/boi

This seems too perfect and may not be genuine. Trump's Taxes may have negative consequences. I hope not.

What if you win on slots used cash app to buy taxed goods

They need to make it 5k limit forever otherwise ill stop buying as much things cause i dont want to save all my reciepts.

Very Informative

Trump needs to end the $600 Tax

Good stuff as always Sherman

Will change under trump..

Thanks for this information.

How aboutgovt being a Constitutional govt, folloeing the real laws of this land and end taxes, oh thats right, they dont care to follow the law!

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

If the government wants to prevent financial crimes, they should look in the mirror