5 Investments That Will Reduce Your Taxes INSTANTLY

[@TobyMathis]

Schedule a free consultation to learn advanced tax strategies today! Sign up here 👉 aba.link/ly8

[@CashOps]

Facts. If I learned anything from my finance degree, it is to minimize those expenses and maximize revenue. Thanks for sharing.

[@teresawebb8266]

Thanks!

[@TobyMathis]

Thank you!

[@user-rh6ji1ot8q]

Can you do a deeper dive on the Oil and Gas? For example go over the K1 form and explain to us how exactly to reduce out taxes?

[@TobyMathis]

Thank you for your suggestion! I'll definitely consider making a video on that topic.

[@Aculus1]

@@TobyMathis Mr. Chairman, I second that motion

[@jamesbennett5421]

I’ve dealt with a few K1 forms - gawd, those are ugly. I think once you get a K1, you should give up all thoughts of doing your own taxes. Which is probably Toby’s target audience anyway.

[@rhombus20]

What is the best way to research and find legitimate "oil & gas" investments?

[@dannytetreault]

5 INVESTMENTS THAT WILL REDUCE YOUR TAXES INSTANTLY: 1) Real estate 2) Oil & Gas 3) Traditional Retirement Accounts (IRA, 401) 4) Charity (501C3) 5) Health Savings Account

[@carltonshore8843]

What is a DB did I miss it?

[@ChicagoGringo]

Defined Benefit plan.

[@shawn-wp2vs]

Basically a pension.

[@colleenwise9858]

These videos have been tremendously helpful as I navigate my future (a little late at the age of 42). But I have a consult with your office tomorrow and I can’t wait to keep learning!

[@TobyMathis]

I'm glad to hear that the videos have been helpful for you!

[@manard7569]

Thanks for an informative video! What about buying a vehicle under an llc with the earnings made?

[@TobyMathis]

Glad you found the video helpful! Great questions, I'd recommend setting up a consultation with my team for a complete breakdown of buying a vehicle under an LLC. aba.link/ly8

[@YingJwo]

College savings account is another but will only check the last two boxes…and must be used for educational expenses. Most can be transferred to next of kin ( another added benefit).

[@NN-sd9fu]

If not used for education, it can be rolled over to IRA account for the same child

[@dr.joemarsannekunzer5816]

Thank you for your great videos. Thanks for caring about others and helping us protect our harder earned money !

[@TobyMathis]

I appreciate your support and I'm glad you find the videos helpful!

[@DrBrandonSchultz]

Love the content, Toby!

[@sidoniewinterpasternak9938]

A rental property today? What if your tenants refuse to pay? What if the squaters take over?

[@thedcgirl202]

Easy fix = Housing Choice Voucher tenants. Guaranteed rents.

[@jrSnk555]

I had this fear as well. My fix to my fear was to only buy homes near military bases and rent out to a service member. It’s a win for me and the service member.

[@sminem6572]

Choose states with sane non-progressive laws, like Florida. Squatters rights have been decimated and pretty much no longer exist.

[@haientong9365]

get frofessional management to do the business instead of yourself

[@MichaelPayne-b9x]

What ifs will hold you back

[@kaytate7533]

Thank you Toby.

[@willmallory9085]

Great topic, thanks!

[@TobyMathis]

Glad you liked it!

[@jakunikukyoshokuchen575]

Great info Toby! After all the current tax deduction, if there's leftovers, do they get carried to next year for deduction? Thanks!

[@darrenc.8663]

Hey I’’m close to retirement and am looking for what type of advisor I should get. can you do a video Short on the types of advisors? Including no advisor, self-directed retirement. Thx

[@johndownes5813]

Excellent stuff!!

[@rajeshvuta]

Absolutely awesome info. Thank you so much. Quick question- do you offer help with tax planning? TAP for the additional information.

[@TobyMathis]

Glad you enjoyed the video. Yes, my team offers tax planning assistance! Sign up for the next TAP event here: aba.link/92697c Or you can schedule a consultation here: aba.link/ly8

[@afternoontiger9319]

Had to pay 10K plus taxes due to my income, but I will definitely use these tips.

[@CrazyDrunkAsianMonkey]

Only 10k? I paid 40k in taxes last year because of my income, I've already paid 10k in taxes this year alone

[@afternoontiger9319]

@@CrazyDrunkAsianMonkey 10K still a lot. 40K just more. Someone is paying 1 mil. What I took from the video is just make wise investments in order to offset these taxes.

[@micheleyoungblood]

Depreciation when you sell the house needs to be recovered at the sale at 25%. If you're in a tax bracket that's less than that when you're taking the depreciation, then you lose out because now you have to pay back at a 25% rate. If you want to sell your property and get the money to use yourself you need to deal with recovery. You spoke about 1031 exchanging until you die and stepping up the cost basis to your heirs. If you actually want the money for yourself, you will have to deal with all the depreciation recovery

[@sunshinegarden1144]

Great question. This has been my question. But no answer.

[@micheleyoungblood]

​@@sunshinegarden1144 I'v always heard and read recovery of depreciation is at a flat 25% this my statement. I'm now reading it is "up to 25% maximum" so now I'm wondering if in a lower tax bracket if the percentage will be lower. I'm now finding yet the brackets for the "up to" amount like you can find the capital gain brackets easily. So still confused. The problem I'm describing is still there however. If you're originally taking the depreciation which taken in small pieces annually and you're in a lower tax bracket like the 12% tax bracket for instance which I'm in, and then you sell your investment property at a much higher price then your raising yourself into a different higher tax bracket. Part of the sale will go under a capital gains tax rate but the total depreciation recovery will, I'm sure, put you into a higher percentage to pay on the total and the smaller lower tax percentage you took on your taxes annually taking the depreciation on your schedule E. So whether it is up to maximum 25% or less, without seeing the brackets foe recovery i have to think I'll pay more on recovery of depreciation than I received when taking the individual annual amounts on my taxes. Hope I'm explaining clearly my thoughts

[@jaimezoracle]

Keep them coming. Thank you

[@TobyMathis]

I appreciate your support =)

[@kaywolf3556]

I am always confused by the appreciation of property. Does it depend on the time that the owner has owned it or does it go by the age of the property? For instance, if we have a write-off period of 17 years for taxes, and the building is sold, would the clock reset for the new buyer?

[@TobyMathis]

Yes - it does. It always depends on the basis and when the asset is put into service. For example, if I added a roof to a property, that new asset is depreciated over its useful life (ie 27.5 years for a residential property). It does not matter when I purchased the property. Hope this helps.

[@teresawebb8266]

Thank you so much! I have learned so much from you. I should have done a lot of things differently in the past. Thanks to you I will do things differently going forward. You are an amazing teacher and a pretty cool person! Thanks again.

[@alexanderginis1488]

Can you recommend a syndicator for oil and gas investments?

[@mississippiapple1078]

Oil and gas? Very first time hearing this

[@stefanhuber1531]

Please do a video on Oil and Gas Wells. If you have suggestions for firms to invest with please let us know

[@TobyMathis]

Thank you for the suggestion!

[@graceyim2941]

Thank you. ❤

[@janelpearce7756]

I am your most devoted student. If I left my work, deposited (rolled) my roth ira into a traditional roth (new account at my fraternal organization) and they took the interest (from my roth) and created a new traditional ira for that money separately, did they make an error (now I pay tax in interest earned by my roth ira in the future here)? I want to understand NOT paying tax on the monies earned by the roth. Forgive me if this is confusing. I am new and will sign up for future events. You’re rockin it!

[@TobyMathis]

I appreciate your kind words and your commitment to learning more about your finances. Keep up the great work!

[@le_th_]

Useful content, thank you for taking the time to compile, organize, film, edit and post this information!

[@TobyMathis]

Glad you enjoyed it!

[@TerriLynnDeeds-iv7kf]

Very insightful ❤

[@TobyMathis]

Glad it was helpful!

[@57054]

Toby. In the start of your video, is that Linsmore Islay or Speyside in the background?

[@Valente_Quintero]

Great video, thanks!

[@tyjameson7404]

I wished Toby would do a video on the tax advantages of subject to the mortgage acquisitions, which he has never done ☑️ I have watched all his videos since 2018 🙏💔💵🇺🇸

[@gwittumrn]

Isn't there an age limit to starting an HSA?

[@Mis-AdventureCH]

That was an awesome event last week!

[@TobyMathis]

Glad you made it out!

[@anaseltenright6962]

How could I learn about oil and gas investments??

[@mybeloved1]

Can uou have access to all that money and use it for personal use when you put it in the Roth or charity?

[@mommaoinnh2674]

Waiting for the category Gold.

[@DreamBuilder77]

Loved the show. TAP

[@TobyMathis]

Glad you enjoyed the video. Reserve your spot for our upcoming Tax and Asset Protection Workshop by clicking here: aba.link/92697c

[@DiviValerio]

I think I like the HSA, I’m going to Fidelity to find out more about it. Thank you for sharing 😊

[@MsFutureguy]

My favorite is real estate merged with 501c3 and affordable housing

[@compuraj1158]

Great information. TAP

[@TobyMathis]

Glad it was helpful! Secure your spot at our upcoming Tax & Asset Protection Workshop by registering here: aba.link/92697c

[@LocsLikeChrist]

Great informational video. Very detailed with plenty of examples. TAP

[@TobyMathis]

Glad it was helpful! Sign up for our next Tax & Asset Protection Workshop here: aba.link/92697c

[@Kroll-2]

How do you invest in an oil well?

[@joejansan9837]

Great insights, but does this commonly apply to any country or only in the United States?

[@estherch8394]

do we need receipt when making donation to charities?

[@torrietrain]

I love maxing out my HSA each year!

[@NN-sd9fu]

I thought any amount you put in the given year have to be used to the penny. I didn’t know it could sit there and grow

[@Kroll-2]

Also, do you get them money out of a charity or no? Can I set up a charity for my kids like school for example? and use it on them?

[@cynthia3167]

Good shop. TAP for next workshop

[@TobyMathis]

Sign up for the next Workshop here: aba.link/92697c

[@recordcastle1118]

Tony, please send info on TAP.

[@TobyMathis]

Sign up for the next workshop here: aba.link/92697c

[@KenEwald-sr3ph]

Can a person still utilize the benefits of an HSA if they are not itemizing deductions?

[@TobyMathis]

I recommend setting up a free consultation to discuss some strategies and how they apply to your unique situation. Sign up here: aba.link/ly8

[@CJ-gv6bq]

Thank you! A new subscriber here.

[@TobyMathis]

Thanks for subbing!

[@HEOEvgeny]

CRE of course. Thanks i look forward to work with you in the near future

[@rickb2537]

I believe you said you can rollover an HSA balance into a ROTH IRA. I don't think so. Can you point us to where the regulations say you can do that?

[@FIRE_Dan_]

Is there any way I can do an HSA if I have Tricare? I'm full time Army National Guard so no high deductible plan.

[@ismaelhall3990]

Wow great lesson.

[@TobyMathis]

Glad you enjoyed it

[@ismaelhall3990]

@@TobyMathis Thanks , in this day and age people have no excuse not to build wealth for themselves when all these goldmine information are readily available for free. Hundred years ago, only the wealthy had this knowledge over the masses.

[@rickb2537]

Your example using the 1031 exchange getting the value up to around $15,000,000 doesn't take into account estate taxes. Value might be bumped up to $15,000,000 but that's more than the $13M+ estate tax exemption. Should you not take that into account? Don't see how you can get around that.

[@NeonFoxArcades]

Amazing

[@1monagale]

Good info! Real estate and stocks got me here. I will attend your event.

[@TobyMathis]

Looking forward to seeing you at the event.

[@PursuitOfWellnessVsLife]

Perfectly said as always

[@TobyMathis]

Thank you for watching!

[@ruthcostea5633]

Thanks

[@entnous53]

What if you’re on Medicare does the HSA make sense?

[@PursuitOfWellnessVsLife]

If paying taxes

[@joeystabile658]

Can’t contribute to one when you’re on medicare

[@ArmageddonIsHere]

Joeystabile is correct.

[@张天弟]

Thanks a lot!

[@TobyMathis]

You're welcome!

[@Robert_The_Great]

So, and oil field/well is definitely riskier. You said you rec'd a K-1 with a $150K LOSS--can you write that off against cap gains?

[@513Artdogg]

How do invest into oil/gas drilling wells and I don’t how have $50000

[@denisepacht2765]

I am retired and 63. I hope to soon have long term care insurance. I do have a cadillac health insurance. Is there a way to qualify for a health savings plan.

[@TobyMathis]

To get the best answer tailored to your specific circumstances, I recommend scheduling a free consultation with my team. Visit: aba.link/ly8

[@concernedrn2844]

love it

[@jamessullivan8300]

Okay, so at my employer, the HSA expires at the end of the year and any unused funds are lost...I could be getting things mixed up but going to revisit HSA plans. Thought they had a shelf life

[@PriscillaFaucette-ze1bq]

TAP HSA was my favorite

[@TobyMathis]

Register for the next workshop here: aba.link/92697c

[@ricardodelreal8287]

Hello I have a question of the HSA how can I contact you?

[@TobyMathis]

Hi Ricardo, you can reach out to my team for a free consultation if you'd like to discuss HSA concerns. Visit aba.link/ly8

[@TobyMathis]

Learn how to use the IRS tax code to your advantage and keep more of what you earn during this free webinar. aba.link/25v

[@alexanderginis1488]

Real estate, oil and gas

[@SM-pc7io]

Pretty sure HSA only works if you have a high deductible health insurance, correct? In Oregon, cheapest Bronze level policy was nearly $800 per month with a $7000 deductible and it covered very little and was just for me (no health issues at all). Too bad there are no HSA's for healthy people who just want to save for future health funds. I am looking sooooo forward to the Roth-SEP when they get that figured out.

[@TroyDenton]

TAP. Thank you!

[@TobyMathis]

Sign up for the next workshop here: aba.link/92697c

[@geoffcohen6062]

roth is my fave

[@TobyMathis]

Roth is definitely a great choice

[@88ajjones88]

What if the property value doesn’t go down? You can’t deduct depreciation? Also, the IDC loss… is it real loss? If you actually lose 40k why is not paying taxes on that good for you?

[@TobyMathis]

These are important questions that require a more detailed discussion to address fully. To ensure we can provide you with the most accurate and personalized advice for your situation, I recommend scheduling a free strategy session with my team. Sign up here: aba.link/ly8

[@AscDrew]

You depreciate (deduct on taxes) the value of the asset you placed into service over the useful life of the asset. In the case of residential real estate that is generally over 27.5 years. You don’t depreciate the land value (only the improvements ie the structure/house). So if you buy a rental for $375K and the land is worth $100K (not depreciated) you would depreciate the $275K value of the improvements over the course of 27.5 years. $275,000 / 27.5 = $10,000 per year to write off on your taxes, just on the depreciation alone. So if you had $12K income/year, after all other expenses (mortgage interest, maintenance, management, insurance etc), you would then deduct the $10K depreciation which means you only pay taxes on a mere $2K of income for that property but you Actually Netted $12K. Just an example that the video author could have advised, but didn’t.

[@88ajjones88]

@@AscDrew that’s a great explanation, thank you for that! I’m still confused why you get to claim the house depreciates when the home actually goes up in value. I guess it’s a way to account for new roof / painting, and other wear and tear. But can you also deduct those improvements as business expenses, so it feels like double dipping. If that’s how it just is then yes what a great write off.

[@AscDrew]

@@88ajjones88generally you depreciate a business asset over it’s useful life. Basically over that time you will have to maintain it or after 27.5 years do major overhaul (in theory). In reality yes you will have to have additional maintenance expenses. Basically it’s a tax Deferral since by taking depression on the property it is lowering your “cost basis” for that asset. So, if you sold it for say $500K after 27.5 years of depression your remaining cost basis is only the land at $100K, so at that point you would be paying takes on $400K of gains vs $125K of gains had you not taken the depreciation over the last 27.5 years. Think of it as that: tax Deferment. But you are not forced to sell it after 27.5 years, and if you choose to, you can do a 1031 exchange into a higher value property ($1+ higher) and guess what, they you get to depreciate that New property all over again, so you can keep the deferral going even longer! But think of how much taxes you would save over that 27.5 years, reinvested that additional savings would continue to compound, etc. If you have multiple properties the tax benefits compound further. Also if, later in life, you can leave the property as an inheritance to your kids and they get a Stepped Up cost basis equal to the value of the property when they inherited it. So if your basis was $375K and you depreciated it down to just the land value of $100K, then years later you pass away and the property is now worth $750K they get to depreciate that $750K (minus land value) over another 27.5 years. So if the land was now worth $200K they depreciate $550K over 27.5 years = $20K/year ($1666/mo) of depreciation to offset the rental income. So it gives them reduced taxes on the income that asset would produce for them. Starts to create generational wealth.

[@RanchLife-NEBRASKA]

TAP Thanks Tony

[@TobyMathis]

Register for the next workshop here: aba.link/92697c

[@ChiKwongchow-r6v]

Hey, you really believe that you can excape from the tax systems? It's pay now or pay later.

[@ELconomics101]

Coach Toby!! Good day

[@TobyMathis]

It means a lot to have your support.

[@aquaviz4854]

I have five rental properties that I personally manage. I want to know more idea how I will engage my adult children to work and get the tax benefits.

[@TobyMathis]

You're permitted to deduct your child's wages as a business expense, provided that their compensation is reasonable and their role is essential to business operations. If your child is 18 or older, and your business operates as a sole proprietorship or a partnership, your child's earnings could be liable for Social Security and Medicare taxes. However, if your child is under 21, their work isn't subject to FUTA taxes. In cases where the business is a corporation, estate, or partnership (excluding situations where every partner is the child's parent), you're obligated to withhold Social Security, Medicare, and FUTA taxes, regardless of the child's age.

[@avaz333]

What about over funding life insurance , doesn’t that grow tax free?

[@jimeagle5509]

HSA usually has income limits / parameters.

[@greenhat06]

False

[@ArmageddonIsHere]

HSA has _contribution_ limits, not income limits. Not quite the same thing.

[@ethelperry4529]

yes, I like ... ❣

[@PursuitOfWellnessVsLife]

How do I get into your world? I file taxes online for friends and do anything that I can find for money to help our future. I am a hardworking mom of 5. I want them to live and not have to take care of me when I retire. Change our family tree. I have always been told I should do taxes or accounting. I need someone to show me the right way.

[@AscDrew]

Take a tax course at your local community college. Work on a degree to be an accountant. Study to be a licensed financial advisor (tests only doesn’t require a degree, crazy huh!?).

[@AllergicToFantasy]

I admire your attitude and with your spirit directed into your studies you can accomplish much. There are quite a few online universities that would offer accounting courses that you can take right from home. That's a lot easier to do with kids than to have to go to class every night.

[@AmaliSaid-xz1dr]

Hello, Investment in making more to pay debt it good but, bit risky, I have, " I can't save money" drama Australia have steady inflation, expensive money flying life, you must pay the cost of expenses payment:s. Thanks Amali Australia

[@anntiup]

"TAP",, 👍 💯

[@TobyMathis]

Secure your spot at our upcoming Tax & Asset Protection Workshop by registering here: aba.link/92697c

[@johnmcsharry4992]

Can you have an HSA while you're on Medicare?

[@inmate0054]

Has charges fees

[@Ivan-tx3ji]

DB?

[@jehuhand8176]

Defined benefit plan. Especially if are older and have a high salary, you can deduct a lot

[@jeanettebonf631]

Thank you i 61

[@TerriLynnDeeds-iv7kf]

How to recover from illegal takeovers fraudulent quick claims and litigated assets

[@TobyMathis]

I recommend registering for a complimentary consultation with my team. We'll tailor our advice to your specific needs. Sign up here: aba.link/ly8

[@philipmasse5172]

Very interested in learning how to move my HSA to my Roth ? May I please get the details on how to accomplish this? I’m 68 yo. Ty. Phil

[@TobyMathis]

Hello, I would recommend setting up a free consultation with my team to get started. aba.link/ly8

[@ArmageddonIsHere]

You can't. You can, however move a traditional 401k or IRA to Roth. But at 68, that's not advisable.

[@WHATSUP7049]

real estate is starting to become a real big problem in many states .....cross that one off the list

[@ArmageddonIsHere]

For now. Eventually he will be correct again.

[@williebolden6977]

TAP!!!

[@TobyMathis]

Sign up for your free consultation here: aba.link/92697c

[@kwe7754]

TAP Please send me info/link. I LOOOVE to learn & your videos are SUPER informative! Thanks!! Are you accepting new clients? I’m self employed & need to find a smart tax advisor like yourself❤

[@TobyMathis]

Glad you enjoyed the video! Sign up for the next workshop here and ask about our Platinum membership. aba.link/92697c

[@PIKOLO390]

Bitcoin is the new asset of all assets

[@leoramirez3146]

Facts

[@patrapper7367]

I feel like I am in middle school

[@MsFutureguy]

I plan to mass produce affordable tiny off grid homes with almost free land

[@TobyMathis]

Thank you for sharing your vision!

[@BorselinoThadchack]

As much as I love you and your channel, I am slowly realizing this is for wealthy investors and I am not one of those. Just a regular guy making less than 100K a year.. so not much to learn. Yes, yes, I know...I m an idiot for not making 100 K. Oh well, that is life.

[@AscDrew]

Simplest way for you is a Roth IRA, grows and withdraws tax free. Pair that with more traditional 401K (or 457 plan for gov employees). That way when you are older some can come put tax free (Roth) and some (401K) can save you taxes now.

[@AscDrew]

It’s not for wealthy investors! Always live below your means, invest in tax deferred and tax free methods; even $25/check ads up over time. Increase your investments every time you get a raise. Pay yourself first. Reinvest earnings. Be a homeowner. Eventually: Buy Real Estate for investments, great long term tax benefits. Reinvest and diversify in stocks, bonds/CDs, RE/Assets, cash (for future buying opportunities). For stocks simply buy low cost index funds that mirror the Dow/S&P/Nasdaq. Educate yourself on tax laws, power of compounding interest and time value of money. Watch “the assent of money”. Buy used when poss, avoid “keeping up with the Joneses”. Hold assets a long time (generally). Don’t buy new cars, but them a couple years old for about 1/2 price, keep them 10+ years and repeat as needed. Cook, and eat at home, don’t eat out very often (crazy expensive). Brown bag your lunch. Cancel cable tv, don’t buy a new iPhone every other year, keep it 5-6 years until you have to upgrade. Get out of and stay out of credit card/consumer debt. Of you can’t pay off the CC every month, stop spending on anything non-essential. Remember pay yourself first and eventually Credit cards will pay YOU 1-1.5% (cash-back Cards & you carry no balance so you pay no interest, means YOU make money on the credit cards). Just a few examples how to win at the financial game of life. But seriously, start investing and saving Now for your retirement. Compounding Interest (over time) is the 8th Wonder of the world!!

[@BorselinoThadchack]

@@AscDrewwhaaaaaa???

[@ArmageddonIsHere]

​@@BorselinoThadchack If you are employed and your employer supports these ,then they're your best available options: 1. 401K match. Get it, its free money 2. HSA plan 3. Roth IRA 4. Back to 401K is you still have money left over to contribute

[@nova396]

Wealthy?? I was doing this on 30k a year. It's a mindset. You are under the foolish impression a dollar saved Isn't a dollar earned. You probably don't even comprehend that. Sacrifice 20$ spending a week if you are that tight. That's a start, and not wealthy, is it????

[@jeanettebonf631]

I Have a health issue I’m a make appointment to come down