How to PAY ZERO Taxes on Capital Gains (Yes, It's Legal!)

  Рет қаралды 917,923

Toby Mathis Esq | Tax Planning & Asset Protection

Toby Mathis Esq | Tax Planning & Asset Protection

Күн бұрын

Claim Your FREE 45-minute consultation to receive business planning tips and asset protection. aba.link/16b486
Can you really pay no taxes? Earning money and paying taxes to go hand and hand. If you have an income, then chances are Uncle Sam is going to want his piece of the pie.
However, is there a way to pay no taxes at all? Let's see if you can pay zero taxes in 10 minutes or less.
A substantial number of the people paying taxes are overpaying due to their own ignorance. We are here to help change this.
Claim Your FREE Anderson Business Advisors 45-minute Investment Strategy Session to receive your personalized investment strategy and business planning tips:
👉 aba.link/16b486
The whole purpose of this video is to try and help some of you out there achieve the lowest taxes possible. Some tips and tricks could potentially benefit those of you who watch till the end. We hope that you find the video helpful during your next tax season.
If you're interested in more ways on how to eliminate taxes, then look over the channel. We have many videos to help those out there to help lessen your tax burden.
As always, we hope you found our knowledge helpful in your life and that they inspire you to reach greater heights. For those who enjoyed the content, leave us a like to show your approval. If you do not want to miss out on future videos, then be sure to subscribe to the channel. Finally, leave no questions unanswered by heading over to the comments section. Once again, thank you for being part of our amazing community, and we hope you join us again in the future.
If you would like to learn more about Toby Mathis, Esq. then please visit
aba.link/tobysocial
0:00 - Types of income taxes
1:02 - Active income
3:27 - What's important about portfolio income?
6:16 - Capital Gains
9:07 - Passive Income
12:10 - Best tax treatments
---------------------------------------------------------------------------------------------------------
SUBSCRIBE
aba.link/subscribe
~~~~
FREE REAL ESTATE INVESTMENT STRATEGY SESSION
Claim Your FREE 45-minute Investment Strategy Session to receive business planning tips and asset protection. 👉 aba.link/16b486
FREE TAX & ASSET PROTECTION WORKSHOP
Learn about Real Estate & Asset Protection from Clint Coons, Esq, and Toby Mathis, Esq. at our next all-day free Livestream from 9 am to 4 pm PT. on Saturdays. Our attorneys and specialists will answer ALL questions: Save Your Seat: aba.link/5c5
TAX TUESDAY LIVE
Toby Mathis, Esq. and Jeff Webb, CPA will answer ALL your questions LIVE on Tax Tuesdays every other Tues 👉 aba.link/akb
OTHER ANDERSON ADVISOR EVENTS
Learn a rich selection of subjects like tax and asset protection, business, investing, and much more. Our partners, attorneys, and other skilled experts will help you learn what you need to know in order to better your chances of success in your professional life.
aba.link/tobyevents
~~~~
FINANCIAL PLANNING & TAX RESOURCES
📚 Order Your Copy of "Infinity Investing: How The Rich Get Richer And How You Can Do The Same" Here: 👉👉 👉 aba.link/IIWbook
Order Your Copy of ”Tax-Wise Business Ownership" and find greater success by taking advantage of tax laws for your business. Here 👉 aba.link/tobyshop
Visit Anderson Advisor's website for content, like articles, podcasts, and more that we publish alongside my channel. 👉 aba.link/tobyaba
~~~~
FOLLOW US:
Instagram: aba.link/instagram
Facebook: aba.link/facebook
Twitter: aba.link/twitter
LinkedIn: aba.link/linkedin
TikTok: / tobymathisesq
~~~~
CONTACT US
Phone: 800.706.4741
Email: info@andersonadvisors.com
Fax: 702.664.0545
ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
---------------------------------------------------------------------------------------------------------
The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. of the information contained herein without seeking professional legal advice.
#capitalgains #taxes

Пікірлер: 976
@TobyMathis
@TobyMathis 8 ай бұрын
Hey, are you interested in diving deeper into this topic or chatting with an expert? Feel free to schedule a call here: aba.link/16b486
@rapidrabbit7175
@rapidrabbit7175 Жыл бұрын
I suggest everyone look up the difference between regular dividends and qualified dividends (with respect to the Zero, 15, and 20 percent). Regular dividends are taxed as income.
@aironwhite6533
@aironwhite6533 Жыл бұрын
Very nicely laid out. I was just talking to a coworker about that although not as detailed and it blew his mind.
@TobyMathis
@TobyMathis Ай бұрын
Learn how to use the IRS tax code to your advantage and keep more of what you earn during this free webinar. aba.link/9f108b
@sdutch9132
@sdutch9132 Жыл бұрын
Thank you, just found this. So happy to have come across. Never had a way to explain this or show to folks who rail against billionaires & corporations. Not to mention this might help someone I know.
@alliesteam9776
@alliesteam9776 2 жыл бұрын
Very helpful for understanding and tax planning, thank you!
@TobyMathis
@TobyMathis 2 жыл бұрын
Glad it was helpful! Thank you for watching our videos!
@jemariowashington9106
@jemariowashington9106 Жыл бұрын
First time watching any of your content and safe to say I am glad I found your KZbin Channel! This one video helped tremendously as there is not much sound advise and info regarding taxation
@kylewoodcreations
@kylewoodcreations Жыл бұрын
Thanks for the comprehensive condensed overview. Well done.
@izumispa2993
@izumispa2993 Жыл бұрын
Absolutely invaluable, concise and interesting! THANKYOU!
@TobyMathis
@TobyMathis Жыл бұрын
Glad it was helpful!
@Ritchie757
@Ritchie757 Жыл бұрын
Completely understandable. Thank you for sharing your knowledge with us.
@judahsamaria5250
@judahsamaria5250 2 жыл бұрын
Thank you for your insight. Shared this video with my friends. Keep up the good work.
@TobyMathis
@TobyMathis 2 жыл бұрын
Thanks for sharing!
@breaktide251
@breaktide251 2 жыл бұрын
Thank you so much for the video it was very helpful and easy to understand
@electrobassist
@electrobassist Жыл бұрын
I think mentioning wash sales in relation to capital losses is important. In your example with Bitcoin, when you sell at a loss and then buy the same or similar security within a certain time frame, you can no longer claim capital loss.
@potatoskunk5981
@potatoskunk5981 10 ай бұрын
Yes, this is critical to understand, because overlooking this rule could be very expensive.
@Jose-sy1je
@Jose-sy1je 9 ай бұрын
That's exactly right. And sometimes those securities can go up significantly in value while you wait and then you feel like you don't have an entry point anymore
@Smouse168
@Smouse168 4 ай бұрын
This is why you don’t take financial advice from a KZbinr . I was out when he misspelled royalties
@nagadsby9413
@nagadsby9413 4 ай бұрын
@@Smouse168 I noticed that supposed misspelling also; however, play the video back at that point in slow motion and you'll find he writes his actual "o" a certain way, and the following supposed "o" like most people write an "a". All this just for what it's worth.
@TobyMathis
@TobyMathis Ай бұрын
Crypto is not subject to the wash sales loss rules. There are easy ways around the wash sale loss rules.
@Portia620
@Portia620 2 жыл бұрын
THANK YOU!! This is an amazing channel!!! I have learned so much in a small amount of time and know so many more grey areas exist but you chose to really sun up the main points! ❤️🥂
@TobyMathis
@TobyMathis 2 жыл бұрын
Thank YOU for being such a great part to the community!
@Angie-im1xq
@Angie-im1xq 4 ай бұрын
@@TobyMathis Love your video! I am confused when it comes to Capital Gains. I only use Uphold and i trade within Uphold. Bitcoin for XRP, Etherium to XLM etc... I only cashed out $700 in 2023. However it says my capital gains are $626,500 and my Total Income is only $85.00. So on turbo tax it is saying I own over $200K in Taxes!! I am very confused. I only cashed out $700 total. All the rest were just trades i made within Uphold.
@intentionally-blank
@intentionally-blank Жыл бұрын
Excellent - Subscribed! Thanks Toby.
@t.b.1596
@t.b.1596 2 жыл бұрын
I am impressed with your knowledge! Great video and you have a new subscriber...thank you!
@LocoCocoJorge
@LocoCocoJorge 2 жыл бұрын
The most comprehensive, to-the-point, 13-min explanation of taxes I've seen in a while. Thank you, Toby. You've got a new fan and a subscriber!
@peterodriguez5636
@peterodriguez5636 2 жыл бұрын
🤣🤣🤣🤣🤣
@thom3820
@thom3820 Жыл бұрын
Agree, i have researched endlessly and used Turbo tax to guide me. This was great. IRS need to bone up also. Perhaps they really too much on software as i do.
@onmykneesforYehova
@onmykneesforYehova Жыл бұрын
Thanks me too, my accountant didn't help me out at all and he was a friend.
@rrichard5515
@rrichard5515 Жыл бұрын
Agreed!
@beetee4295
@beetee4295 2 жыл бұрын
Thank you for the education Toby, easy to understand and very useful, as usual. Two 👍 thumbs up!
@peterodriguez5636
@peterodriguez5636 2 жыл бұрын
🙏🤣🤣🤣🤣🤣🤣🤣
@amitbuch
@amitbuch Жыл бұрын
Eye Opening really. Thanks a lot. Will be watching all your videos for sure.
@thomasforbestv5388
@thomasforbestv5388 Жыл бұрын
Toby, excellent content. Love your education.
@tonyv4801
@tonyv4801 2 жыл бұрын
Great info, thank you so much!
@TobyMathisAttorney
@TobyMathisAttorney 2 жыл бұрын
Thank you🙂
@tgarrels
@tgarrels 2 жыл бұрын
Thank you for your easy to understand explanations on so many areas like estate and tax planning etc. I like that you speak clearly, no stammering, or using a ton of fill words like um, uhh, and a....because you obviously know exactly what you're talking about and dont mince words. Ive been watching all your vids lately, as I've been working 35 years saving money and building a nest egg this entire time, but dont have a trust or a will or nothing, so i def need to do something.
@notsharingwithyoutube
@notsharingwithyoutube 2 жыл бұрын
You have some great information on your channel. Thanks for sharing.
@TobyMathis
@TobyMathis 2 жыл бұрын
Thanks for watching!
@chrisjurewicz6339
@chrisjurewicz6339 2 жыл бұрын
Thanks for the information.
@Blublod
@Blublod Жыл бұрын
This was excellent! Instant subscriber. I very much appreciate the simplicity with which you presented this. Keep up the good work.
@Lou_Snuts
@Lou_Snuts 2 жыл бұрын
Good video. It might be a good idea to concentrate on dividends, because the preferential rates only kick-in for "qualified" dividends. Even though IBM pays "dividends" out of accumulated earnings and profits, the taxpayer needs to meet a specific holding period. There are also dividends paid by non-taxable entities like REITS, which are taxed at ordinary rates. There are also passive and publicly-traded Master Limited Partnerships. The distributions are generally not taxed, but they are subject to loss limitations, where the K-1 losses accumulated and are recognized upon disposal.
@peterodriguez5636
@peterodriguez5636 2 жыл бұрын
🤣🥜🤣🤣🤣🇺🇸
@g.t.richardson6311
@g.t.richardson6311 Жыл бұрын
The holding period is only 60 days before or after to make them qualified Not an issue with me long time holdings Lol ibm a great one Also have REITS so I do have some ordinary, but some of those are return of capital with zero tax MLP are a pain in ass , sold my IEP Icahn holdings just to avoid schedule K not coming till late march. Same thing with royalty trust simply a pain in the ass passive income schedule E nonsense Don’t want deal with them, I’ll stick with regular dividends,,if that costs me few hundred a year so be it.
@mikie53146
@mikie53146 Жыл бұрын
Good presentation Toby. I'll be watching more. Happy New Year.
@piccoxpy7579
@piccoxpy7579 2 жыл бұрын
Thanks for your video content(s) & Great!!!
@sakamoto5195
@sakamoto5195 Жыл бұрын
Thank you so much! You were fully understandable. This is the stuff we should have been taught in school!
@baybarsedturner2
@baybarsedturner2 Жыл бұрын
They don't teach you this in school for a reason.
@Jose-sy1je
@Jose-sy1je 9 ай бұрын
You cannot buy the same stock right back. You need to at least a month pass if you buy back the same stock. By that time you may have already lost more in case it goes up.
@donnallyking5168
@donnallyking5168 2 жыл бұрын
Great info. Great presentation. Good voice for listening to you. Suggestion - only use white chalk. Colored chalk does not show up. Keep up the good vids.
@davidmoolekampcpa3370
@davidmoolekampcpa3370 2 жыл бұрын
Really awesome video thanks Toby
@jeffreycuellar241
@jeffreycuellar241 Жыл бұрын
Great video, great content. Keep up the good work!
@TobyMathis
@TobyMathis Жыл бұрын
Thanks, will do!
@mrsmith1339
@mrsmith1339 2 жыл бұрын
Most articles on retirement income fail to mention 0% interest on Qualified Dividends and Long Term Capital gains We am far from rich, but we make more net income in retirement than we did working. Over 1/2 of our income is from Qualified Dividends at 0%. Our effective tax rate on $120,000 last year was 3.5%. One must be careful to stay under the taxable income limit if you want 0%. Borrowing against equities could be a great alternative to Reverse Mortgages and Annuities, neither of which is attractive to me.
@zencalmfree
@zencalmfree 3 ай бұрын
How do you get 0% on long term capital gains
@KGB1697
@KGB1697 Жыл бұрын
I love this channel! To add to this great video, for a dividend to generally be considered long term cap gain or “qualified”, each share of stock or etf must been held for more than a year (there are exceptions). If you hold it less, then it would generally be considered short term cap gain which is taxed as ordinary income. Some reits are never eligible for long term either. I could be wrong so anyone please let me know
@g.t.richardson6311
@g.t.richardson6311 Жыл бұрын
Dividends have nothing to do with capital gains , just hold the stock for 60 days, it’s qualified for Most part (always rare exceptions) REIT s are rarely qualified for dividends, but when you sell they are qualified for long term capital gains
@dee3606
@dee3606 Жыл бұрын
Thanks Toby. Great content. I’m soo grateful that you are sharing your knowledge. 😇
@TobyMathis
@TobyMathis Жыл бұрын
We appreciate that!
@iangoddard57
@iangoddard57 7 ай бұрын
Learnt Tax in ten minutes. This is so very helpful as a guide to what I can do next. Brilliant thank you again. I’ve learned more in two of your videos than I knew in the last 20 years.
@cindyb1938
@cindyb1938 Жыл бұрын
On stocks, there is a wash sale rule if you buy within 30 days before or after sale, loss will be disallowed.
@TheALPod
@TheALPod 3 ай бұрын
not sure about this, I get taxed on dividends even when reinvesting
@vitolazlo5767
@vitolazlo5767 3 ай бұрын
Tax loss harvesting , you need to wait 30 days to buy back the stock you sold to mark the loss.
@user-we1xz3mo8b
@user-we1xz3mo8b 2 күн бұрын
@@vitolazlo5767 Correct. Otherwise the loss will increase the basis for the same stock you bought within 30 days
@blorax5179
@blorax5179 2 жыл бұрын
Yup, said another way - if you make your money from owning things, you pay a lower percentage of your gains, but if you make your money from working - sweat of the brow - you pay a higher percentage. I wonder whether owners of property or workers made these rules?
@thechadbullock
@thechadbullock 4 күн бұрын
Really great way to explain all this. I knew most of it, but it got me thinking in new ways on what I could do.
@TobyMathis
@TobyMathis 3 күн бұрын
I'm glad you found the video helpful
@luceaschild
@luceaschild 2 жыл бұрын
What a fantastically informative video. Thank you!
@TobyMathis
@TobyMathis 2 жыл бұрын
We a glad you enjoyed it, thanks for watching!
@teslainvestor1743
@teslainvestor1743 2 жыл бұрын
Holy shit. My mind just blew. Thank God for this channel.
@kb81ccme15
@kb81ccme15 Жыл бұрын
I've been so nervous about investing due to ALL the damn taxes!! 😫 I appreciate your content SO much!! 🙏
@starkmad8346
@starkmad8346 Жыл бұрын
Same here i have tons of savings but im scared i will get taxed to death, I paid taxes earning it and spending it then when i make profit with it! WTF
@JOZoSo.
@JOZoSo. 10 ай бұрын
So you don't want to make $100 because you are afraid to pay $25 in taxes? Lol, makes sense to me.
@calvinlipscomb3652
@calvinlipscomb3652 9 ай бұрын
NEVER let the tail wag the dog. Have a good tax advisor and pay for that service and you will do well.
@izitmepattavina8651
@izitmepattavina8651 Жыл бұрын
Wow i loved the way your carried this through.
@rickonethousand6304
@rickonethousand6304 2 жыл бұрын
More good info. Much appreciated!
@TobyMathis
@TobyMathis 2 жыл бұрын
Thank you, both for the comment and for watching the video!
@bmbrooklyn
@bmbrooklyn 2 жыл бұрын
Great content! How can a real estate agent offset taxes? Could you please create a video? Also if I sell a property, how can I apply a 1031 to avoid capital gain? Could you please explain this? Thanks 🙏
@quikxfl
@quikxfl Жыл бұрын
1031 you must purchase another property. It is a roll over type of exemption
@janetchoe3311
@janetchoe3311 Жыл бұрын
I believe you have 180 days to buy a property after you sold your house.
@RicardoPicena
@RicardoPicena 2 жыл бұрын
Subscribed on the first video! Can’t wait to learn how to use my equity to help me expand & also learn how to keep more of my wealth
@punchawhale
@punchawhale Жыл бұрын
Subscribed! Great explanation at its simplest form
@TobyMathis
@TobyMathis Жыл бұрын
Awesome, thank you!
@Lambert7785
@Lambert7785 2 жыл бұрын
really good videos, thanks
@vigilance8240
@vigilance8240 2 жыл бұрын
Thank you for that! So glad your out there giving this great content.
@TobyMathisAttorney
@TobyMathisAttorney 2 жыл бұрын
Thank you🙂
@vigilance8240
@vigilance8240 2 жыл бұрын
Do you have a tax adviser program? I would love to learn more1
@rickonethousand6304
@rickonethousand6304 2 жыл бұрын
The red chalk is less visible than the white. I strongly suggest a whiteboard.
@richarda996
@richarda996 Жыл бұрын
Then the white would not show up.
@joed8452
@joed8452 10 ай бұрын
Amazing content!! Thank you for making these videos.
@TobyMathis
@TobyMathis 10 ай бұрын
Thank you for watching the content. Don't forget to subscribe for future videos.👍
@davidscott_vibe586
@davidscott_vibe586 Жыл бұрын
Love the information Sir! Keep it coming.. :)
@davidbrown4868
@davidbrown4868 Жыл бұрын
Toby, you do such a great job of explaining difficult concepts. Thank you.
@TobyMathis
@TobyMathis Жыл бұрын
Thank you for the compliment!
@Mav0585
@Mav0585 2 жыл бұрын
Awesome video but maybe a white board to replace the chalk board!
@victoriabarnett4279
@victoriabarnett4279 Жыл бұрын
Very interesting! Thanks for making my head spin. I’ll be thinking taxes for hours now!
@recyclespinning9839
@recyclespinning9839 Жыл бұрын
Thanks for being honest, for years and years I was making pretty low income of 30k . My buddy used to tell me in this area its poverty level about and he arrogantly would say I don't pay hardly anything into the tax system like he did, making $100k plus. I always paid my taxes , declared every penny and always was paying big money into the tax system for Social Security , etc, and whatever amount my accountant told me to mail in since I was self -employed.
@bryan2332
@bryan2332 Жыл бұрын
My understanding is that if you sell a stock at a loss and buy it right back (as you suggested) you can't take it as a tax loss. By not waiting 30 days, you have created what is known as a wash sale
@steveh4968
@steveh4968 Жыл бұрын
You are correct.
@lennyd8412
@lennyd8412 2 жыл бұрын
hello, Have a six figure capital gain from the sale of a second home. Besides opportunity zones fund. How can I reduce my basis to lessen my tax burden?
@MyBelch
@MyBelch 2 жыл бұрын
Good breakdown of tax types. I'm nearing 59 1/2 and about to cash in some IRA mutual funds. Need to go slowly to keep CG from knocking me up a bracket.
@markstoll9636
@markstoll9636 Жыл бұрын
you are very good. love this content. learning. thx
@kingofthesofas
@kingofthesofas 2 жыл бұрын
If you sell a stock or bitcoin at a loss to do tax loss harvesting then you have to wait 30 days to buy it back otherwise it counts as a wash sale FYI
@zzbudzz
@zzbudzz 2 жыл бұрын
I believe it applies to stocks but not cryptos...yet
@808BizStuff
@808BizStuff Жыл бұрын
There is NO 30 day "wash rule" on BTC or any crypto.... yet.
@GODHATESADOPTION
@GODHATESADOPTION Жыл бұрын
Not inside a roth...
@mwint1982
@mwint1982 Жыл бұрын
For bitcoin they'd like you to wait a day or two (take on risk)
@ryanmac5708
@ryanmac5708 Жыл бұрын
Hot damn Mr Arthur, if this is true that's a great point amigo and thankyou.! I'm gonna have to watch this twice and take a few notes🔥
@BrianK-zz4fk
@BrianK-zz4fk 11 ай бұрын
Good overview for novice tax people. Personally I like to build losses through high dividend securities because their value goes down based on the amout they payout, thus not a true loss of capital. Then use them to offset gains in something I feel has lost its growth potential.
@XRP_4Me
@XRP_4Me Жыл бұрын
Amazing, thank you!!
@DanBelsky_Health_Money_Love
@DanBelsky_Health_Money_Love 6 ай бұрын
Excellent advice already working!!!! specially for Real Estate and Stocks.
@seanchang2763
@seanchang2763 2 жыл бұрын
How do you pay zero taxes on capital gains? I don't think you mentioned it.
@hemlo7494
@hemlo7494 Жыл бұрын
One way he mentioned is to apply capital losses.
@elitedragon328
@elitedragon328 Жыл бұрын
Another is to borrow against it.
@nauy
@nauy Жыл бұрын
He’s misleading you. You can’t. You can offset with capital losses or never realize the gains. Bottom line, you pay zero capital gains tax only if you have zero capital gains. The borrowing part is to borrow against your portfolio to create liquidity instead of realizing capital gains to do it.
@antilogism
@antilogism Жыл бұрын
Short term gains are at the ordinary rate but long term gains may be taxed at 0% "if your taxable income is less than or equal to $40,400 for single or $80,800 for married filing jointly or qualifying widow(er)." Similar to qualified dividends.
@justinhollislange
@justinhollislange Жыл бұрын
@@antilogism Good point. I will add that your AGI will be increased by the amount of your capital gain thus causing your taxable income to increase as well. Taxable income is your AGI minus the standard deduction or itemized deductions.
@aaronhenrichsen2704
@aaronhenrichsen2704 Жыл бұрын
Thanks for the good advice. I think the proposal to sell Bitcoin at a 30% loss and then repurchase it would be hit with a wash-sale rule. You'd have to buy a different asset (like Etherium or stocks to make it work)
@emariaenterprises
@emariaenterprises Жыл бұрын
Buy XRP.
@jellybeanbitcoin
@jellybeanbitcoin Жыл бұрын
I thought that was (still) allowed on crypto.
@ghostmanscores1666
@ghostmanscores1666 Жыл бұрын
Wow! you're clever like Bernie Madoff!
@mr.chickennoodles9017
@mr.chickennoodles9017 Жыл бұрын
This is allowed, but dont rebuy the same asset you sold within 30days
@wilsonbill5533
@wilsonbill5533 Жыл бұрын
Does not apply to crypto. Yet.
@Ron-zr6se
@Ron-zr6se 2 жыл бұрын
Good advice for those not willing to go where they and their finances are treated best.
@mikes2294
@mikes2294 Жыл бұрын
You constantly blow my mind. Thank you Toby.
@TobyMathis
@TobyMathis Жыл бұрын
Thank you for watching our content!
@HenryBuysHomes
@HenryBuysHomes 2 жыл бұрын
Thanks for great content on this! As a real estate investor and Realtor, I have felt like I still paid too much in taxes for 2021 from all the active income I generated. Subscribed!
@timisaac8121
@timisaac8121 Жыл бұрын
Yes!! His comment caught me too!! I pay so little, but not yet "zero"!! Best wishes man!
@peterholmes2089
@peterholmes2089 2 жыл бұрын
Two points: 1) SS is more than just a tax. If you are not paying that over your working life, you will not get SS when you retire. We can discuss it's ROI, but it is a bit misleading to say it is a tax. 2) You can't sell a crypto at a loss and buy it straight back to avoid taxes. The wash sale rule prevents that.
@thinhdoan3373
@thinhdoan3373 2 жыл бұрын
@@skellington2000 Skellington is correct on both.
@fungidungie
@fungidungie Жыл бұрын
@@thinhdoan3373 awkward
@Portia620
@Portia620 2 жыл бұрын
This guy is good! Interesting stuff!
@julianthelovingone
@julianthelovingone Жыл бұрын
The best video I’ve ever watched!!! Thank you very much I’ve already subscribed
@TobyMathis
@TobyMathis Жыл бұрын
Thank you for subscribing!
@DreamFirms
@DreamFirms 2 жыл бұрын
Awesome discussion!
@TobyMathis
@TobyMathis 2 жыл бұрын
Glad you enjoyed it!
@davidaucoin8769
@davidaucoin8769 Жыл бұрын
Does he have a platform?
@goldcic
@goldcic Жыл бұрын
🐥
@benriding8678
@benriding8678 Жыл бұрын
Just think, even tyrannical governments like Russia have a flat 15% tax and none of these BS schemes.
@wa210
@wa210 Жыл бұрын
Just be a donald and not pay taxes.
@alliesteamc3546
@alliesteamc3546 2 жыл бұрын
We heard there is a federal law which may be ratified soon which required annual filing or person go to jail or pay $10,000. Or more. It was mentioned by a lawyer on KZbin. Is this true? When will that go into affect? Please do a KZbin video on this if it’s true, thank you!
@TobyMathis
@TobyMathis 2 жыл бұрын
Here at Anderson Business Advisors, we are always watching for new updates and changes in laws and reporting requirements. We typically do not change strategies until something has been completely implemented. In this situation, I am not sure what federal law you are referring to in regards to reporting requirements.
@thelucylady4780
@thelucylady4780 Жыл бұрын
Love your information. Please get a white board, can’t see the chalk board
@mrnkognito
@mrnkognito 2 ай бұрын
Great info 👍🏼, thank you
@tonyduart6414
@tonyduart6414 2 жыл бұрын
Thisguy has a common sense, everyman approach to this. Makes sense. Very relatable.I subscribed
@glorgau
@glorgau 2 жыл бұрын
He can't spell.
@texasRoofDoctor
@texasRoofDoctor 2 жыл бұрын
Great content. I may buy some of this overpriced real estate for rental...after giving it time to decline if it is going to at all.
@paulmorrow8372
@paulmorrow8372 2 жыл бұрын
I normally cringe in these types of videos and watch for entertainment. I have a Masters in Taxation from one of the top schools in the country and work in tax planning for a very large corporation. This video does of great job of simplifying some complex tops down to 13 minutes. Great job on the video!!
@peterodriguez5636
@peterodriguez5636 2 жыл бұрын
Wake up
@paulmorrow8372
@paulmorrow8372 Жыл бұрын
@vip47287 no, you will owe taxes on that income. More details would be needed to figure the tax on that income, but it would likely be at a 18.8% tax rate (15% cap gain rate plus 3.8% net investment income tax). This is only the federal tax and doesn’t include state taxes.
@paulmorrow8372
@paulmorrow8372 Жыл бұрын
@vip47287 I highly recommend consulting with a CPA in your area.
@pattyarmstrong8386
@pattyarmstrong8386 10 ай бұрын
Love the way you explain everything.....
@TobyMathis
@TobyMathis 10 ай бұрын
Thanks a lot, I appreciate you taking the time to watch my content!
@scrapperstacker8629
@scrapperstacker8629 2 жыл бұрын
Thank you!!!
@binweng4937
@binweng4937 2 жыл бұрын
Thanks for the infor. But the heading is little misleading. There is not a legal to Not Pay taxes unless you dont make income, no income no tax. But if you make money, you do pay your fair share. All you have pointed out is taxes deferral, which, with proper tax planning, yes, can defer paying taxes, offset cap gain with cap loss, QOZ investment, 1031 exchange, accelerated depreciation, etc... these are ways to defer tax payments, but NOT not paying taxes. The legal way is giving away your income, such as charitable donations, gift money to your kids and family members to minimize the amount of estate, these are the examples where you reduce your income or net worth to an extent that your income or estate is below the taxable threshold, thus not paying taxes or paying less taxes. You may update your heading to be more precise. Thanks for sharing!
@billywilliams6853
@billywilliams6853 2 жыл бұрын
But I have never paid any taxes, since I dropped out of school. I have been on welfare all my life. White folks working for me. I goes fishing and drinking wine.
@MarvelousCards
@MarvelousCards 2 жыл бұрын
He won’t change it cause it helps get the views/clicks.
@theyuha
@theyuha 2 жыл бұрын
If you sell and buy right back isn't that called wash sale? Dont you get fined for that or lose out?
@robertdinicola5834
@robertdinicola5834 2 жыл бұрын
Yes. He probably is saying you can buy it right back after the 30 days required. He just wasn’t clear. Good catch though.
@mr.marvelousmess6986
@mr.marvelousmess6986 Жыл бұрын
@@robertdinicola5834he was clear - he did not mean in 30 days.
@133mhz.
@133mhz. Жыл бұрын
Great! Thank you sir.
@jodihammer
@jodihammer Жыл бұрын
Thank you for your great summary. What about the wash sale rule for securities (i.e., need to wait 30 days before buying back or you cannot take the loss)? Is bitcoin exempt from wash sale loss limitations?
@dc-wp8oc
@dc-wp8oc Жыл бұрын
Great video. Will have to watch again to absorb all the great content. Does starting a business afford a person more ways to reduce tax liabilities? Does Toby have a video on how to select an honest, capable tax attorney?
@primexaos
@primexaos Жыл бұрын
Useful, thank you
@marshallstephens7356
@marshallstephens7356 2 жыл бұрын
Thanks for sharing!
@TobyMathis
@TobyMathis Жыл бұрын
Thanks for watching!
@JP_Flys
@JP_Flys 2 жыл бұрын
That was over 10 minutes sir! Just having fun. Great content!
@ejb1
@ejb1 2 жыл бұрын
Hi Toby!! Great to see this!! Geno
@chicago9458
@chicago9458 10 ай бұрын
This is one of the best explanations on everything income in very simple terms
@kylaespina9266
@kylaespina9266 10 ай бұрын
Great infromation! Thank you
@TobyMathis
@TobyMathis 10 ай бұрын
I'm glad to hear it! Thank you for watching.
@Lambert7785
@Lambert7785 9 ай бұрын
thanks so much, I super like these videos
@TobyMathis
@TobyMathis 9 ай бұрын
Glad you like them!
@peterhaywood4111
@peterhaywood4111 Жыл бұрын
Wow, great content! Many thanks!
@TobyMathis
@TobyMathis Жыл бұрын
My pleasure!
@joseco1978
@joseco1978 Жыл бұрын
Great content!
@mikes2294
@mikes2294 Жыл бұрын
What an education, eyes wide open.👍👍👍👍👍
@dougjohnson1199
@dougjohnson1199 Жыл бұрын
i wish I'd met you 35 years ago! great post! Keep 'em coming.
@mikegollihugh7992
@mikegollihugh7992 2 жыл бұрын
Good job!!
@LP-MeAndMyShadow
@LP-MeAndMyShadow Жыл бұрын
Hi Toby. I've been watching your channel for a while and finally thought I would say "hi"! I appreciate all you do.
@TobyMathis
@TobyMathis Жыл бұрын
Hey! Thank you!
@matthewsgaming5333
@matthewsgaming5333 Жыл бұрын
Loved this !
@rickrjw
@rickrjw 2 жыл бұрын
I learned more about Capital Gains tax than 5-years working with my accountant. Great content! When my (new) channel grows a little more closer to your size (and I can hopefully add value for you) we should do a collab! Until then keep killin' it!
How to Reduce Taxes at the Tax & Asset Protection Workshop
1:35
Toby Mathis Esq | Tax Planning & Asset Protection
Рет қаралды 634 М.
Here's How To HIDE Your Brokerage Account From Public Record (Keep Your Stocks Private!)
23:55
Toby Mathis Esq | Tax Planning & Asset Protection
Рет қаралды 154 М.
Homemade Professional Spy Trick To Unlock A Phone 🔍
00:55
Crafty Champions
Рет қаралды 55 МЛН
UFC Vegas 93 : Алмабаев VS Джонсон
02:01
Setanta Sports UFC
Рет қаралды 217 М.
Why You Should Always Help Others ❤️
00:40
Alan Chikin Chow
Рет қаралды 132 МЛН
Which one of them is cooler?😎 @potapova_blog
00:45
Filaretiki
Рет қаралды 10 МЛН
How To Make Your Personal Assets Invisible (Remove Your Name from Assets!)
37:16
Toby Mathis Esq | Tax Planning & Asset Protection
Рет қаралды 2,8 МЛН
How To Argue With Someone Who Doesn't Use Logic
11:35
Charisma on Command
Рет қаралды 7 МЛН
0% Long Term Capital Gains Tax--Is it Legit?
19:52
Rob Berger
Рет қаралды 51 М.
#1 Tax Loophole For Real Estate Investors (The Magic Of Cost Segregation!)
37:52
Toby Mathis Esq | Tax Planning & Asset Protection
Рет қаралды 279 М.
How Traders (Legally) Pay ZERO in Taxes
25:54
Ross Cameron - Warrior Trading
Рет қаралды 325 М.
What is a Living Trust and What are the Benefits? (Living Trust 101)
20:17
Toby Mathis Esq | Tax Planning & Asset Protection
Рет қаралды 1,9 МЛН
5 Investments That Will Reduce Your Taxes INSTANTLY
25:28
Toby Mathis Esq | Tax Planning & Asset Protection
Рет қаралды 136 М.
Eight Things NOT To Put In Your Will
11:30
America's Estate Planning Lawyers
Рет қаралды 4,9 МЛН
How To Pay Yourself As An LLC
17:05
Karlton Dennis
Рет қаралды 5 МЛН
3 Steps To Build A Passive Income Empire
32:43
Toby Mathis Esq | Tax Planning & Asset Protection
Рет қаралды 1,5 МЛН
Homemade car Jack shorts #diytools #tools #diyideas
0:10
SENIOR WELDER
Рет қаралды 12 МЛН
Эта самая умная рыба в мире!
0:22
prizman
Рет қаралды 1,6 МЛН
Ника начала говорить по-английски!
0:40
Привет, Я Ника!
Рет қаралды 6 МЛН
Девушке Роналду не нужны его деньги 😎
0:41
КИК Шорт!
Рет қаралды 4,2 МЛН