Exposing the 9-5 Scam in 60 Seconds💰

🏡How to Set Up A $2,500/mo Airbnb in 84 Days.
🔗Link on home page.
The tax code is long and confusing…
And it’s written against employees because they don’t do big things that move the needle.
Business owners and real estate investors contribute more by developing and employing.
That’s why they enjoy tax breaks others don’t.
The good news is you don’t have to quit your job and try to become the next Elon Musk to do this.
You can run a business or become a real estate professional while working a 9-5.
And you can make a lot more money and keep a lot more money.
Comment “Interested” if you want me to break down how to do this.

[@jonathancarey9138]

He won’t explain it because then he’ll go to jail for tax evasion. 😂

[@warbabyx]

Difference between Evade and Avoid.

[@jonathancarey9138]

@@warbabyx lol this guy is telling people not to work a high paying job because you have to pay taxes. Guess what if no one worked a high paying job then his real estate would be worthless lol.

[@warbabyx]

@@jonathancarey9138 You are correct. But 95% of people are not in a high paying job. His advice is not for everyone, but for those who want more. And those that are making legit under 100K a year.

[@MA-id1hr]

Nope. Stay slave if YOU want. Don't misdirect others who want to learn to do what the wealthy do.

[@LaniLanglais]

Sorry bud,only sheeple who don’t care to know tricks of the trade go down for actually evading,he talking about legal ways set up by the fed to do so

[@moneymoves888]

I have lived in countries that don’t tax and trust me you don’t want to live there!! No running water, no electricity, no safety Ect. With taxes our money comes together to do all these things. It’s a combination of what everyone payed from the beginning of tax collecting that elevated our country. The wealth of a country is determined by the taxes they collect. It’s our home and to improve it means not only me and you but future generations will prosper!! Pay your share if not for you, do it for your kids🙏🏽

[@mattlane2282]

BULLSHIT

[@wavesbnice1]

It's a membership fee the way you explain it

[@starwarsnerd6295]

It’s okay to have usage taxes. You shouldn’t be taxed on what you earn though. Let people keep the fruit of their labor. I’d happily pay a higher sales tax, gas tax, etc if there was 0% income tax (and payroll tax for that matter) across the board.

[@malikbugaev2486]

How about Dubai? They don't have taxes.

[@moneymoves888]

@@malikbugaev2486 Maybe Oil money from the world. :)

[@josegordillo8334]

Yes , please make a video about the taxes

[@user-gs2ih7bb2b]

We get services from our taxes,ie public education, fire, police, etc. we just need for the government to spend wisely and reduce taxes.

[@koresaliva]

Cough cough america has no free healthcare/education cough cough

[@mattlane2282]

MORE FIRE IS VOLLY... COPS DO NOT NEED TO PROTECT YOU... PUBLIC EDUCATION KIDS DO NOT KNOW HOW MANY WEEKS ARE IN A MONTH IN HS... KEEP GOING

[@agustinjr.enriquez6238]

Sleepy Joe sends our $ dollars to Ukraine while price of housing/ food keeps going up. If you call an ambulance you’ll still have to pay out of pocket

[@JabronyPlays]

What services they don't go to any of them we just send it all overseas so it can be laundered back to the deep state and government officials id be fine paying my share of taxes if it actually went to what it was supposed to and it they'd only need like 3 percent across the board to make it work

[@dylan96kinsey]

It's all lies. Money is lies. They print money todo with as they please to make you belive it's real

[@moneymoves888]

It’s not a scam, the road you drive your nice car on is paid by a people that worked an paid taxes!!

[@truelegend9572]

Yeah toll tax don't exist

[@wavesbnice1]

That's used on corrupt companies that overcharge the government

[@Uwill49]

Tolls and gas taxes.

[@danc1926]

We pay for road taxes when we fuel up. We also pay tolls. The Golden Gate Bridge cost $35 million to buid and it earns $145 million in tolls yearly.

[@ceslin]

​@danc1926 it also costs about $85 million to keep it maintained. it's insane 😳

[@davidlopezlive]

Paying taxes is NOT as scam. It's how healthcare, education, roads, police, fire fighters, parks, ect are paid for.

[@root.li.23]

And wars

[@slayyer2nd170]

Give me 100 bucks and I’ll gladly buy a pizza for you 😊

[@dantheman4494]

it is a scam because non of the money you pay goes to those things. you pay 20-40 percent tax and only 5-10 percent goes for the development of those things. sad but true almost for every country

[@OroborusFMA]

Yup, the selfish stupidity of these "influencers" is truly sickening.

[@DHeack010]

So how is the us supposed to pay for all the military equipment?

[@josecolon9588]

And you're absolutely correct about the scam. And they call this legal

[@mariateresabutor]

Yes please.❤❤❤ explain it.. we appreciate you so much.

[@deacerbongayon2438]

Yeeaah!, please explain how you do it?

[@janinevegan6191]

Love to hear how!!!❤

[@jamesrojas2770]

how do you do it

[@darwandoo]

So true. I'll never exchange time for money again. Since I've incorporated a business the tax scenario changes. Question what's your procedure for bad tenants. Residential tenancy in Ontario is just not attractive anymore. Have you ever considered opening up a commercial Plaza

[@seriously6654]

Just to live in your house? Your property is the last thing property taxes are for and usually the most worthwhile taxes you pay.

[@kylepollock7991]

Yea… as long as you pay enough money to contractors then the gov won’t tax you. Zero sum game

[@johnleyden9637]

Taxes are the price we pay for living in a civilized society.

[@veronicagraves5621]

Yes. Thank you.

[@geoffdobbins2316]

Preach! Bring on the next video!

[@Not_Sure_2505]

Insurance is another scam too. Pay thousands of dollars for them to help you in an emergency only for them to say they won't cover that.

[@yongkim2088]

Rooting for you, Preston. An excellent channel.

[@GABRIEL2VVAVY]

Yes, make another video

[@Liambarre06]

Please make a another video to cheat with tax, with the real estate state. Could be very useful 🙌

[@snitox]

It's simply that the economy is incentivizes capital holders and not the value creators. The ultimate goal of the US is to have everybody be landlords. I guess if the US runs out of land they can just buy it in foreign countries. But guess what people are too busy squabbling with each other, price hiking each other to actually go venture out.

[@aalleezzzz]

If all these real estate bros are actually not breaking the law this is probably the biggest reason real estate has gotten so expensive, along with the 12 years of 0 interest

[@MrBert320]

How do you do it?

[@markphillips4872]

By all means, please teach us what you do. 👍🤗🖖

[@simonomagbemi7765]

please explain how you do it

[@dianaszilagyi5688]

Video on no taxes , please.!!!

[@AJAdrianH]

Yes show me

[@bobgreenfoot888]

Can you explain to me exactly how you do it?

[@asdf1234fggggggggggg]

Good info

[@dbrownwind]

Please make another video only tax issue. Need more understanding.

[@vipereaper]

Do you just pay in cash instead of through a bank

[@duanecrooms485]

I want to know how do you, do it

[@e-synergyconsultants1687]

Please continue

[@Gargamoth]

How? Legal forms and all.

[@fuacatarun2run931]

Yes make another video thank you

[@jimdutka2909]

Yes explain lower taxes please

[@343ds]

Yes,how do you legally pay all most 0 in taxes???

[@chappers666770]

Sure lets all not pay taxes and see how it goes

[@sebastianfreeman7726]

If everyone stops paying taxes then how will Government get revenue?

[@seriously6654]

They could nationalize more things like student loans because that has been working out so well.

[@bentolbert9117]

Please make another video on how you do it

[@AI-kz5jx]

How do you NOT pay taxes?

[@tytrips8475]

Taxation didn’t start in the 21st century bud💀

[@666sk8erguy]

Will you explain to me what the Kyosaki guy means when he says he accumulates all his wealth through being in debt?

[@isaiahgallegos4948]

How ?

[@akthomas9079]

Ik how not to the hard part is being able to leverage your first 0-100k but no one makes a video on that and let’s be real here how often out of many are any people have a credit score good enough for banks to loan us a usda loan or a fha loan, but it’s a grind is fs and any of you can do it and im makin my ways towards it this year. Stay strong and grind hard kings and queens and I will see you on the other side and may God be with you thorough your journey.

[@mariaperales7949]

Yes please!!

[@user-bf6te4jx4w]

Yes please explain 😮

[@alexvalencia364]

People make fake Preston seo Facebook accounts and try to scam. I wish i could post a pic on here cause there literally 3 in my pm. Just putting it out there

[@hp7639]

Stop using your real name and picture on youtube.

[@confirmhandle]

Wait, hiws the 9-5 job a scam ???? Wrong title button clicked !

[@noonan395]

2000.00 Property tax I pay 7200.00 !

[@xxkilleroxx]

Society don't work without taxes. It's selfish and disgusting to use, schools, kindergarden, protected by police and a fair justice system and don't paying for this. You should be ashamed of yourself. Its not a scam.

[@joeschneider3894]

He pays taxes. Just significantly less income tax than others. Imagine owning $1 b in real estate. If you live in New Jersey, there’s a 2% property tax. That means you’d be paying $20 million… whether or not your properties cash flow. If the government closes down the economy again and tells people not to pay rent, you would have zero dollars come in but would STILL need to pay $20 million in property taxes. And that number goes up every year whether or you’re making money and whether or not your income goes up, because as property values inflate, the government charges your property tax rate based on the increased value. So if your property goes up 10% in value, your yearly property tax bill goes from $20 million up to $22 million. Assuming you ARE cash flowing and earning… you ALSO have to pay income tax ON TOP of that $20 million property tax bill. Yes. The government DOES let you deduct certain expenses and apply depreciation of your real estate property against your income to lower the INCOME tax you owe. For specific reasons. But this is ONLY for income tax. Property tax still applies and gets charged whether or not you make money. The reason the government lets real estate investors write off so much of their income when calculating income tax…. In order to purchase $1 billion of real estate… 1. You have to put 20% down. That means you have to risk $200 million on real estate deals where you could realistically lose most if not all of that money. Most people would never take that risk. 2. Once you put that $200 million at risk to use as a down payment for a real estate purchase, you also have to sign a contract with a bank that you’re going to take out an $800 million loan that you’re agreeing to pay back WITH INTEREST. So an evil billionaire real estate invested in Jersey would need to put $200m of their own money at risk months, if not years, before ever seeing a dollar returned. They have to take on $800m debt (which could come out to roughly $1.5b in repayment after interest), and they are guaranteeing that they’re going to owe $20 million a year in property taxes. ALL of that happens before a dime is ever paid to them from a renter. The average real estate investment creates a 10% return. Meaning if you put $200 million down (taking out an $800 million loan) to buy a billion worth of real estate, the average deal will return 10% of that $200m in the first year. That’s $20million. Which basically is enough to cover the cost of the property tax bill. But that’s not actually true. There are required repairs. The average cost of repairs for real estate is roughly 1-3% of the total value per year. Let’s average it out to 2%. 2% of $1billion means the investor could anticipate spending $10 million EVERY YEARS on repairs. Add on the $20 million property tax bill and the investor now put $200 million of his money at risk, took out a loan for $800m that they have to repay with interest… and they’re losing $10 million a year. Oh by the way… every time they buy materials for the repairs… $10 million worth… they’re paying sales tax. 5% sales tax means roughly $500k of that is going to the government. And this is all before the team they’ll have to hire as nobody can run a billion real estate portfolio. They would probably need 100-500 people MINIMUM. And the investor is responsible for paying 7.65% fica/payroll tax for each of those team members. Figure 300 people earning $100k average salary x 7.65%… that’s another $3 million paid in taxes to the federal government. What are we up to now? $33.5million a year? And this is prior to any income being made. So before accounting for their income tax they lost $200mill up front, they owe roughly $1.5b to the banks over the next 30 years, and they will give $33.5mill per year to fed and state government through (non income) taxes. THEN the income taxes kick in. IF they’re able to earn the standard 10% return that the average real estate deal earns based in their $200m down payment, IF… they would be earning $20 million. I believe that is total revenue though, not net profit. If they lived in NJ and we’re not given the tax benefits and adjustments real estate investors are granted by the government… they would owe an additional, roughly, $10 million in income tax. So now they started off $200mill in the whole, have a $1.5 billion debt to pay off, earn $20 million… but owe $10 million in income tax on top of the other $30+ million they’re already paying in other types of taxes. In many cases they would be taking a loss. And if they didn’t, they would be going into a massive amount of debt to make (proportionally speaking) next to nothing. Giving up $200 million up and putting yourself in a position where you owe $1.5 billion to get $10 million a year MAX would be the equivalent for the average American of spending $1 million, signing a contract that says you agree to pay $7.5 million to a bank over the next 30 years… so that you can MAYBE earn a $50k a year income. When you remove the a few additional zeros, that’s basically what it would take to earn an average US income via real estate. Would you do that? Do you know anyone who would? The reason the government lets real estate investors write off so much of their earned income is because almost nobody would develop real estate or provide rental properties to the masses if the game didn’t involve depreciation and perks… and that means that we would have WAY less housing options. When supply drops, price goes up. By the government making it more financially worthwhile for developers to invest, it creates a constantly expanding housing market where new houses and apartments are constantly being built and old one are constantly being renovated and fixed up. This gives us as the masses a SIGNIFICANTLY nicer quality of life while also putting downward pressures on housing prices that keep fewer families from becoming homeless. You could argue that the government should just give that money to the masses. This is certainly an idea worth mentioning, but comes with some MAJOR downsides. The problem there is that this sustains and grows the demand for housing, which is good, but lowers the incentive for developers to build and real estate managers maintain… because without raising prices in us, the margins just aren’t there. So demand increases, supply decreases, and poof… inflation. Prices start growing. And if you think what we’ve seen the last few years was rough… just wait until the government starts dumping trillions of dollars a year into housing costs. It would destroy our economy. Long story short. Real estate people pay A FORTUNE in taxes… it’s just mostly shifted away from income tax and over to other types of taxes… taxes they owe even if they lost money during a year. The reason most people don’t know that is that multimillionaire politicians muddy the waters by conflating income tax with TOTAL tax and saying so and so paid 1% in taxes… when really what they mean is… to go back to our original NJ example… 1% of the total value of their $1 billion real estate portfolio… which they owe $1.5billion in bank payments for… and which only earned them about $20 million. 1% is $10 million. But remember… that’s just the income taxes they paid… which is half of the $20 million income they earned. And it leaves out the other tens of millions of dollars they paid in taxes and the massive billion debt they’re in. They conflate income tax with total income and “value of their assets” with how much they make. They don’t have $1b. In fact they might owe more than their portfolio is worth. But politicians and the media elite won’t tell you that part of the story, because they want you to be kissed off and ignorant so you’ll stay angry at the “rich guy” who’s paying fortunes in taxes and is in massive debt, so you won’t notice that the multimillionaire politician and tv talking head are getting powerful and rich af while doing nothing. The other reason… real estate social media influencers play into the same game talking about how they pay no taxes. Why? Because they want to sell courses on how to get into real estate investing. Why? Because they’re only rich on paper and actually owe a f*** ton of money and need as much cash as they can get to pay off their debts and keep buying more properties to make sure they don’t go bust. It’s all a big rouse. And they’re all paying FORTUNES in taxes WHILE providing us with better housing options than the majority of people in the majority of countries throughout the majority of human history could have ever dreamed of.

[@rebonemoloi8284]

Explain how you do it

[@linzixuan29]

Dude . If your rich . Don't be ungrateful for the cheap education, good health care , good understructure and etc when your poor . This is not about America fyi . America don't have good education, infrastructure and health care

[@repuIsive]

crumbling but once great infrastructure, so-so education and probably some of the best healthcare. just because something costs $ doesn’t mean it isn’t done right.

[@mcphersonjohnathon]

12 percent? Come to canada it's literally 70 percent including everything.

[@Cuautehmok]

5k a month would be a blessing for me.

[@JamieNicole1000]

Yes, please explain

[@kimberlyglass3270]

Yes please!

[@Orzufancylad]

They dont have taxes in Somalia. You can just move there.

[@user-vd2zg3tl9o]

5000k a month what a joke

[@mikepsych283]

No explain to me how the roads are going to get paid for and then explain to me how services are paid for and then explain to me the scam. How the scam benefits the rest of the society we get it. Some people have the capability to go out and make their own money and be their own boss. But when you go pick up your fast food and when you go by your clothes and when you go get things that you need who's working those places oh I get it the dumb people

[@johnathangreay987]

And so is insurance.

[@EzraSchroeder]

The comments here are unbelievably naive!!!!!!

[@user-gs2ih7bb2b]

I wonder why Preston wants to help me make money. How much money does he make from all of viewing and posting on videos? Who’s scamming whom?

[@jimhouse9961]

Not much@@user-gs2ih7bb2b

[@HughJass-sm1tl]

Not even a fraction of what he makes with rental properties and air bnb. Research and study up on subjects before you imply someone is a scammer.

[@JorgeHernandez-zo7bx]

Damn bro, how would you do that? Let me know.

[@Brian-wv8rc]

Tell us more

[@Satoshi1990]

I don't pay taxes, i use debt to get rich 🎉

[@lozo80]

Teach my dad He's always broke

[@loganraimer1189]

Woah woah woah 12% I pay 24.8%

[@janicethomas3483]

YES, MAKE A VIDEO EXPLAINING HOW TO PAY $0 IN TAXES AS A REALESTATE INVESTER. THANKS!

[@diesel7495]

I wanna see that video

[@Lerbon_Janes]

And how do you say governments would get funding for construction and schools and defense

[@beverlycurtis2255]

Yes.

[@arthurfleck2149]

Yesss

[@dadvidjones]

Yes please

[@madtabby66]

“Scam” suggests something you can avoid. Unless you’re suggesting illegal activity? Because unless you’re making SFA at your “real estate” (very believable) you’re either paying taxes or will be going to jail soon.

[@El_Gallo_310]

Yes, please make a video an explain

[@chrisrankin5067]

Yes please explain ir

[@JCCharts]

I’m torn on this logic. Yes, we are over taxed but taxes are just each citizen contributing to the country. If the taxes weren’t used inappropriately, we would all flourish.

[@johnathangreay987]

I agree with you.

[@crazyslotman]

Please explain!

[@dongshuowu3454]

KZbin revenue is better than real estate investing

[@JadetasticUwU]

Bro, what about schools, firemen, postmen, public transport, healthcare, social programs?

[@JabronyPlays]

Public transport is barely available in most areas of the country school dosent teach you anything u need to know in real life social programs are designed to keep the middle class poor

[@JabronyPlays]

And Healthcare is only free for people who don't make any money that could be so taxes are just for the leeches of society

[@russelljohnson6951]

Sell yams and bags no tax 😎

[@Betteruthanme1999]

Tom Vu lives! “Come to my seminar, I’ll make you rich!” Just pay $39.99 at the door.

[@jajajaja2624]

Guy with business reporting 2k

[@lawrenceedwards6041]

Explain how a real estate investor can pay almost nothing in taxes?

[@William-Blazkowicz]

Taxes are not just an american thing. In fact, many countries have it a lot worse. Don't let this guy know about denmark😂😂😂

[@MultiMargeaux]

Yeah!!

[@robmorefield6540]

Yes❤

[@dashing-Nickycent]

It's more in Canada

[@juliovilla5246]

Not to forget that this is the price you have to pay to live in a country where you can drive to work without worrying about a bomb landing over your head. Pay your taxes!

[@joshuawhitely8984]

Please explain

[@j.6783]

I would love to understand that

[@drengrofragnarok1733]

Yes😊

[@eedre4864]

Why is it that all these real estate people have problems understanding why their extreme wealth provided to them by the society they benefit from should be paid back into said society via an independent arbitrator who distributes it based on its ethical needs? “Eff you, I got mine” is rampant with these folks because they got rich, and their main hobby becomes how they can pull the ladder up behind them. I don’t like taxes either, but if no one paid taxes, the middle class as we know it would eventually cease to exist as narcissists would gradually claim all the resources and make slaves out of the rest while warring against each other.

[@user-ej9ei2bt5g]

Yes

[@hungpaoyang4184]

Yes please😊

[@ethanlammers2363]

I wish I only got taxed 12% 😅

[@marquittagraham6470]

Explain in detail