As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

What if I receive money by Zelle from. Y brother to share house payments. Is that going to be taxable too?

Hi, Can I deduct my health insurance premiums with Cover California from my S Corporation payroll taxes?

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Can I gift the maximum amount for that tax year to a friend for their life span?

How is a monetary gift to someone tracable?

Us capital one financial usc 2139 5315 1145 5034011/27 Forbes luxury I'd 83355 us gov

Hi Rob, Your video was great! Do you prepare Tax Returns for Business owners who have completed Mega Back Door Roth? I made the contributions in TY 2023 but my CPA not familiar w strategy and how to report. Unless I order Tax Plan $5k-10K hard to find CPA who understands how to prepare Tax Return. Thanks, Rob.

How does the employee pay tax when he/she initially buys shares? On form 8949 as short term gains? Thank you

Thanks for this fantastic video. How long does it take you to generate this report for each client? how much time do you devote to explaining each item to each client?

Thank you for this knowledge. I would like to stay as an LLC but file as an S-CORP. What do I need to do ?

Do you have to pay tax on a HYSA like you have to on a MMMF

I think it depends on where your money is. If I've got uninvested cash in a brokerage account, I'm not moving it to A HYSA, I'm investing in a MM Fund. Conversely, the rest of my money is at Wealthfront cash. Wealthfront, whoot whoot, once And done.

You didn’t address taxation of interest/dividends. Money market mutual fund by fidelity ,SPAAX, calls its interest a dividend, but it is not qualified dividend… very misleading

Can I sell them with a month after buying?

I just noticed that in my account. I’m investing in long term and don’t know anything about shares and stuff. This seems easy enough.

new subs here , thank you .

According to the form 8396, if the vehicle is used and $4000 credit was received the business/personal use doesn't apply? Can you get a used vehicle and occasionally use it for rideshare driving? Mixed use, maybe 50/50 business/personal miles and deduct mileage (not actual cost)?

Thank you for putting this video together. very helpful.

You forgot to mention taxes on these accounts they all different

I always got confused with MM accts. There are many types too. So what's the difference between MM mutual funds vs MM IRA acct?

Why do we put up with this bullshit organization known as the IRS!!?? The IRS IS NOT PART OF THE FEDERAL/U.S. "GOVERNMENT!! They ARE a Rico criminal extortion syndicate that steals 3 TRILLION DOLLARS a year under the guise of an " income tax" for the IMF and World Bank LAUNDERING the money ultimately through the Bank of International Settlements. THERE IS NO INCOME TAX!!! 26 CFR 1.0-1 paragraph (d) of the IRC of 1954 clearly says "TAXABLE YEARS began December 31 1953 and ENDED August 16 1954, passed into LAW by the 83rd Congress AS LAW and published in volume 68A of the United States Statutes at Large AS LAW!! Any Subtitle F compliant enforcement provisions took effect on the day AFTER the date of ENACTMENT which was August 17 1954 but on that day there was NO TAX TO ENFORCE AS the tax died expired the day before which was August 16 1954. There has NOT BEEN AN ENFORCEABLE LEGAL INCOME TAX in this country for 70 YEARS!!!

Could you elaborate on the point you made regarding earnings in an inherited Roth IRA being subject to tax? I am not aware of there being a potential tax liability with an inherited Roth. Additionally, I am under the impression that the recipient of an inherited Roth IRA has 10 years to remove the money from the Inherited Roth, is this true? Thanks for your excellent info.

Capital one does not have a balance you have to keep in a high yield that pays 4.3 percent. Not penalty for withdrawals.

What happened to the next year?

Can i open sole prop and im not a citizen and dont have social security in New york to open bookkeeping license

Hi rob I bought a new 2023 Tesla and I didn’t get a full 7500 i only get 4500 I wonder if H&R Block didn’t do my tax correctly

What can I deduct if I'm say a DoorDash delivery person if I use public transportation? I'm glad to know I can deduct the cost of TurboTax. I'm Andrew.

what if your spouse is W2 and company health insurance premiums are taken from pre-tax from the W2 spouse paycheck? Using Section 105 MERP, can you still write those off as medical expenses?

great explanation. can you do 2 different Schedule C for 2 different businesses? I received a 1099 Misc for 1(special circumstance and will never receive it again) and the other is my actual business on Etsy.

I'm an hourly employee, but my bonus is a check w/o taxes taken out. I put this in schedule C even though I'm not an employer/contractor or anything. How and when do I pay the taxes on this bonus?

So my high yield savings account has 5% interest rate so monthly interest would be .41% every month, yes… so with the money market mutual, which seven day run is 4.7% , is that 4.7% monthly, or is that over the year?

Does receiving 1099 automatically turns it into a business what about if it’s not a regular and continuous activity. Like a side hustle for 3 months.

Can someone help me with this question? Example: Used Chevy Bolt is advertised at dealership for 10,000: but after the sales tax and other fee's from the dealer the cost is more like 11, 500 out the door: but I also I also wish to purchase an extended warranty adding another 1500.00 to the total price bringing the final price to 13,0000, (if I also add the extended warranty) _________________________________________________ Can I say on the IRS EV used car credit program, that the cost of the car was 13,000? or do I have to use only the 10,000 price of the car, excluding the sales tax and dealer fee's and extended warranty cost ?

At 9 min, did you mean to say multiple by 80%, not 20%, and where do you get the 22,500 you're talking about? Or I'm guessing you meant to say 20% off of 25,023, which I'm getting 20,018 by my math.

I received a 1099 misc from one of my investments. The investment income is 4.5k, I paid 10% advisors fee $450. Can I deduct this fee from the $4500 income if I use standard deduction? Thanks.

Can an employee make use of a promo APR i.e. Best Buy 12 months no interest for a computer on the personal side to incur a business expense for the employer. Does the employer reimburse 100% of cost or can it reimburse monthly (granted the employee provided monthly invoices) until cost of equipment is covered? Thank you

So the annual gift exception , If I gift someone the max limit Do I get to claim that on my taxes? If not, then why would anyone tell the irs if I gifted more than the limit if they would not know either way? I need to save money when paying the IRS....

What if I made less than $600?

I just moved a considerable amount of cash (at least I consider it considerable) from a standard savings account I was earning only 0.1% APY from into a Money Market Prime account with a 4.75% APY. I'm gonna go from earning approximately $35 a year to earning about $2,400 a year...it's a no brainer! My only gripe is, I'm angry at myself for not doing this a few years back...missed out on a decent chunk of change. Thanks for the video...

There’s SIPC insurance for investment products

Can you address, in perhaps another video, how to sell stocks from theme investing? If you own a percentage of a share, you can only sell whole integers, right?

I put 16 grand in a mutual fund at Fidelity 8 years ago and today its around 21 grand. I just learned about HYSA. Should I leave that cash where it is or move it to a HSYA?

Will a granted FTA apply to all penaltie fees associated with a specific penalty (ex: failure to pay) for the entire year or just up until the point in the year by which FTA is granted?

I have been angsting over how to move my savings account from low interest rate bank for over a year now. Is Zelle safe? Cash app? Or do I need to wire transfer, which is pretty expensive way to go IMO.

Is it still beneficial to file as an s-corp if your basis is zero?

Can I use my business checking and credit card and categorize it in that category in my QuickBooks? Or should these all be off of a personal card?

Is there a way to check if the Tax Credit has been claimed on a vehicle?

Rob thank you! ❤