@KarltonDennis this is Tyrone im commenting using my pops page here.. my spouse and i will be becoming home owners soon. I sent your mom an email which I wanted to converse with you and her in light of what I messaged upon. I really could use both your help with protecting what is about happen to me financially...I know where your mom business is I have the info and number I provided her with mine. I have several business ideas I want to explore and determine whether there suitable for me to make a profit and at same time help others who are an may be possibly struggling. Reach their potential of becoming financially free with one of the things I want to set up giving the disadvantaged a true real opportunity to be successful...and as well I want to explore some commercial property opportunities with multi units and also for creating a soul food business something like how golden corral is seating capacity an parking space..but I plan to go an extra few steps that there not going nor doing...
@stevekurtsalcedo14233 жыл бұрын
Will you make a video for LLC tax advice for Non us residents?
@livdikatao67633 жыл бұрын
I Am 👍🏼
@stewyburns3 жыл бұрын
Closing on the 31st of August!!
@lorency71833 жыл бұрын
@karlton Dennis I have a problem with you NAR I wrote to TREC 2019 my name Loren Yera in Houston Texas you have false accused me I understand your a big lobbyist group in Washington but am pissed my right and constitution and civil rights have violated by 25 American government agencies. I challenge you to discredit what saying . My life has alter from minute I filed a complaint TREC Houston
@Ms_Gfannin Жыл бұрын
This should be presented in high school!!! All of this time I never really understood any of this… then i watched this video and it all makes sense! Thank you for this knowledge sharing!
@remondjacquet67782 жыл бұрын
in 12 minutes you explained what I did not understand for more than 12 years, Great video!!
@christopherbellboy25252 Жыл бұрын
I used to be a volunteer tax preparer and you explained this perfectly
@terilaw1806 Жыл бұрын
You just saved me $250!!! I was supposed to see a tax guy tomorrow but watched your video. I knew I didn’t have $25000 in deductions since I just bought my house a few years ago. So I did my taxes (late) and yes, I ended up taking the standard deduction. Filed my taxes, and canceled the tax guy! Thank you!!!!
@luisguevara4113 Жыл бұрын
This bid is really good. I suggest that in the future, to use numbers that don’t compute to the same number. The example of the medical expense has 7,500 for the amount of the personal threshold and 7,500 for the amount you can deduct. It just makes it confusing for someone that is not familiar with the math you are doing. I will keep watching your vids. This one was informative and to the point.
@polvora232 жыл бұрын
As a first home owner this video was very helpful . Thank you for all the information
@lailas.3205 Жыл бұрын
It's the level of detail and breakdown for me. Excellent video, sir! Bravo and thank you 👏🏽
@armondtodd6969 Жыл бұрын
Great video! You're a great teacher. I learned a lot. Brought a brand new house last year and learning the tips before filing my taxes.
@christinabrito3 жыл бұрын
Amazing Amazing!!!!!! Im a new home owner. Also working in getting my real state license anddd getting into taxes! I loved the way you explain everything. Im here to stay!!!
@nievelindadiaz15132 жыл бұрын
me too!!! congrats
@MrPhoboy4013 жыл бұрын
there are levels to this game. i am glad their people like Karlton Dennis spreading knowledge to us.
@karltondennis3 жыл бұрын
Happy to help!
@jayq88822 жыл бұрын
Really appreciate your clear explanation of itemized deductions Karlton!
@sigma6822 жыл бұрын
The standard deduction isn’t an incentive. It exists because the government understands every American is and should be entitled to a standard set of deductions without making you spend the time itemizing, i.e. Sales Tax, almost every American pays sales tax at some point or another, but no one wants to save every receipt (unless you know you’re going to exceed the standard deduction).
@bueno-dj7kk8 ай бұрын
thank u sir yes tones of value i gained so much knowledge in that short amount of time then i did in 12 years of public school now all i can think of is how to i get the younger ones in my family to listen to things like this.
@jaykoski2933 жыл бұрын
Can you make a video about the mortgage credit certificate? It’s a little known tax credit for first time homebuyers that could benefit a lot of people here.
@BellottiSchrader2 жыл бұрын
Thank you, Thank you, Thank youuuuuuu for providing visual examples! As a visual person this helps so much! I'm now a new subscriber.
@stezejobs8088 ай бұрын
We must protect this man! Thank you
@damonleeb9 ай бұрын
“The government wants to help you” 🤣🤣🤣🤣🤣 comical lol
@cloveeyyyy Жыл бұрын
I'm 23 and looking to buy a home and this helped a lot. Thanks!!
@Jahguaar3 жыл бұрын
I am committed to self-development & thriving.
@bjf5027 Жыл бұрын
That 7500 medical expense deduction example is really bad. People can't tell if you're getting to deduct the first 7500 or the second 7500. You should have used an example where you spend 10,000. In that case you can deduct 2500
@blackl1steddrums Жыл бұрын
This right here is the video I was looking for, thank you man
@animalcub51022 жыл бұрын
Thank you! No commercial? Awesome!
@devonpeters94582 жыл бұрын
I appreciate the video and think you’re a great teacher/explainer, but most of the video was on how general deductions work vs the standard deductions. I feel the title is misleading as you really didn’t dive in to anything specific with first-time home buyers.
@Feymorales2 жыл бұрын
So the standard deduction is the best option either way if you only have 1 property and don’t have medical bills?
@SnifferSock7 ай бұрын
If it's under $12,550 and you're single, yes. If that applies, you make less than 6 figures and your mortgage is under 6 figures, it still is unlikely to reach the threshold.
@SHADYKIMMIE97 Жыл бұрын
So helpful!!! Just bought a house in august and preparing for tax season.
@dlw12314 ай бұрын
I don't pay taxes like a working man, I'm retired but bought a house in Oct, 2023 in Calif. My question is I normally don't have anything to be taxed on being on SS, and low income can I get anything back now that I bought a home, like property tax?
@JamesJones-mt9co2 жыл бұрын
Thank you you just prove Robert t Kawasaki correct when he says your house is not an Asset! Your home is not an asset it is a liability, I hate to say this but most people lose more money when they become a home buyer versus a real estate investor
@PinkFridays3 жыл бұрын
Im in my early 20s and this has helped me so much! Thank you so much!
@karltondennis3 жыл бұрын
Awesome! Thank you Marv
@PinkFridays3 жыл бұрын
@@karltondennis my pleasure! Keep up the amazing work!
@cypheruniversity30743 жыл бұрын
The graphics are crazy. KZbin is a place of entertainment after all. 👌
@karltondennis3 жыл бұрын
Thank you!
@lonnieburkes81662 жыл бұрын
Thank u for explaining this as simplified as possible.
@goodsno1g8 ай бұрын
Awesome explanation now im wondering do i even need to file/report the 1098 if it doesnt make or break anything.??
@BrothersofOG2 жыл бұрын
Bought first house last year before rates spiked. Let’s see what you got
@MrAlienware1 Жыл бұрын
I really appreciate you taking the time and make videos for people that don’t understand anything about taxes. Mr. Karlton I wanted to know if you can or have a video about what is homestead does it effect when you do your taxes, the advantages and disadvantages of putting a house in homestead?.. thanks
@suramahernandez5252 жыл бұрын
Tu explicación fue la mejor que he escuchado.
@ladytee1705 Жыл бұрын
Thank you for the information I bought my first home last year.
@micahwoolfolk40202 жыл бұрын
I just found your channel sir....@Karlton Dennis...Man you a blessing. Thank you. I will be following your content. If you ever do a live...put it out there...in the information age, why would I want to spend my time on anything else that what will benefit me and my family...
@TheAngerman773 жыл бұрын
We bought in 2017, i dont even know if my tax pre preparer went through all this. Its a woman at my job who does a couple of guys taxes. I noticed that it says that i prepared them when they're filed. Shes not licensed, but i thought it was helpful. I really enjoy your content and im Learning alot. Thank you.
@mr.e85432 жыл бұрын
Not only inspiration and informative but also inspiration to keep with my own content on my youtube here ! Thanks for the information brother !
@Sammich883 жыл бұрын
Awesome! Going to have to comment so that that algorithm has a better chance to pick this video up and move it forward. Have been looking at the tax information online for a bit and quite frankly it was confusing. This made it so much easier to understand and I can totally see myself doing itemized tax deduction in the future as I'll be living in the home and also renting out rooms. Also any money I can get back from property taxes and mortgage interest is good since I treat it as a form of monthly deduction bundled up at the end of the year. Will probably still see someone who specializes in this field though once it's time for tax return as a first time homebuyer. I trusted myself filing solo for a while but now I think a different outlook can make a difference.
@ecallic1002 жыл бұрын
The way you explain things is amazing and your hand gestures helped lolbs no frfr
@mariebee3146 Жыл бұрын
What about FHA mortgage insurance?
@El_KRIZPY2 жыл бұрын
This video just saved me hundreds of dollars.
@JM-fi7uc2 жыл бұрын
Thanks for the heads up on the SALT deduction changes. That's some buster ish.
@Archangel-rv1xe2 жыл бұрын
Good video, but you fail to highlight the reason why those specific deductions where taking off and also the standard deduction from 2017 to 2018 was increase by 50%.
@jtowensbyiii60182 жыл бұрын
That's not why, Trump just didn't want poor people who work hard to get tax benefits like the rich do
@mguti090 Жыл бұрын
Yeah he mentioned all the stuff Trump decreased but not what he increased like the standard deduction which he doubled.
@12B4Christ7 ай бұрын
There used to be a separate first time home buyer credit, it currently no longer exists...seems to have ended in 2010.
@berniedecker57832 жыл бұрын
That was awesome; I absolutely appreciate you, Mr. Dennis - cheers!
@bs9757 Жыл бұрын
This is a FANTASTIC explanation. Thank you!!!
@twopeasinapod63193 жыл бұрын
Mr karlton, you are the creator to the path of enlightenment! I am grateful for your time and effort in sharing your wealth of knowledge. God bless you!
@ParisBry Жыл бұрын
Very clear and concise video. This was helpful for sure.
@DylanSmith-rz7zl9 ай бұрын
So if I'm a first time homeowner and I choose the standard deduction, I don't have to plug in all of my property tax info?
@Narsuitus Жыл бұрын
Thanks for the video on Standard Deductions. However, I still do not understand how a first-time homebuyer with a mortgage is better off than a fifth-time property owner with no mortgages. I also do not understand why you did not discuss depreciation and 1031 exchange.
@joanmadera11 ай бұрын
This video is golden.
@ponleusoreyaa2 жыл бұрын
I tried to follow, yet still a bit confusing.
@ge0ne063 Жыл бұрын
Excellent Explanation....Clear Cut 👍🏼
@danpage6044 Жыл бұрын
Karlton your advice and knowledge needs to be taught in school right along with Dave Ramsey. You should be a required class.
@BossmanRich286 ай бұрын
@11:32 sorry i just had to comment. The Hone Omer. Love your videos. I always learn something from them. I requested to take a course/ class from H&R block
@Hayraang Жыл бұрын
NICE AND CLEAR. THANK YOU.
@richannawise28113 жыл бұрын
Pram pram way to go..thanks for the inspiring videos and wealthy advice..blessings to you
@kalonmeekins21602 жыл бұрын
Every since I bought my first home in 18 I've always been told I didn't have enough write-offs to itemize and therefore never got anything for being a homeowner, even after I bought the second home... and I'm single
@austindeadmond1267 Жыл бұрын
The same exact this has been said to me a few times. Sam situation
@haydenmacfarlane7194 Жыл бұрын
Solid video, thanks for the info
@MackDaddyCRX Жыл бұрын
Love the content brotha
@arelicontreras741225 күн бұрын
If I had a tenant and had to pay them out to move out (rent control) for family to move in, no longer renting and I had to fix the house cause they left it filthy and had to completely renovate the house can I use all that I lost in my taxes?
@nicholass79392 жыл бұрын
What about for first time home buyer that turns the property into a rental property?
@ugotmail5651 Жыл бұрын
Very good video love it very clear to understand
@Indigenous_Explores11 ай бұрын
Thanks for the info. I was able to understand more on tax write offs for properties. I do have one question tho. 😅
@mehertgebreyohanis44188 ай бұрын
Great video!
@t-bone1890 Жыл бұрын
I work out of town as a W2 employee, in 2017, my truck was stolen, with all my tools. my truck was recovered, but i lost nearly 30k in tools. at the end up the year, since i was paying in my fair share of taxes throughout the year, i got a little bit of tax return money. But since i got a tax return, my CPA told me i couldn't write off my loss of tools, was he correct? i did not receive any insurance reimbursement. It was just a loss, i had to overcome myself.
@FohChristianHalo3 Жыл бұрын
You my friend are golden 🎉
@coderlicious6565 Жыл бұрын
I just went through 8 previous home owner tax videos and then I watch you, and you made all of the others sound like a Biden speech in comparison. You have the superpower of clarity. You should join Marvel or X-Men: SuperClarity Man.
@pckbactive3 жыл бұрын
Nice video uce hope all is good! Hopefully catch you at Mesa soon.
@karltondennis3 жыл бұрын
Thank you brother
@mthatipamula Жыл бұрын
Great explanation. Thank you karlton .
@akshitdhadwal Жыл бұрын
If you buy a condo And buy something for your condo and also repair broken things in condo Are those expenses tax deductible? Are down payment tax deductible
@tiawilson69292 жыл бұрын
Appreciate this video so much. Thank you for breaking all that down
@ttvnos88413 жыл бұрын
amazing videos i don't understand why KZbin is suppressing your account
@karltondennis3 жыл бұрын
Appreciate it
@anetteswaby7772 жыл бұрын
Thank you!
@gregd44373 жыл бұрын
Best video on this I’ve seen thank you keep it the tax real estate knowledge coming
@karltondennis3 жыл бұрын
Glad it was helpful!
@sn24672 жыл бұрын
Thank u for the knowledge for home owners tax deductibles. .. I accidentally turn to your video, but bless 🙌 to learned ....
@iamcesarmiranda5350 Жыл бұрын
Can I get some of my supplemental property tax money back when I do my taxes? I paid $3,800 in a short time span 😬
@mr.v53772 жыл бұрын
Is the medical and dental deduction taken by calculating your out of pocket costs or the total cost paid towards those expenses (i.e. cost paid insurance + premiums)?
@mrshawterry6 Жыл бұрын
You're good Sir.
@bwilks30562 жыл бұрын
Wow! Thank you for that explanation. That was extreeeemely helpful!
@TechFreak512 жыл бұрын
Wow.. very nicely and clearly explained ‼️
@AnnieNg-hs5rx Жыл бұрын
Wtheck is causality & theft? I thought it was casualty and theft
@Johnnybang916_8 ай бұрын
Thank you 😊
@nimia85342 жыл бұрын
Thank you for making it very simple to understand.
@niashahoover58382 жыл бұрын
This was a great video!💪🏽
@CesarTorres-jm4cy2 жыл бұрын
I would like to know more. How can I get of hold of you?
@SA-nk8sc Жыл бұрын
Excellent explanation. Thanks a lot.
@amruthag73228 ай бұрын
Such good content
@nadiajimenez600 Жыл бұрын
Are home renovations tax deductible? I bought a beat up home & had lots to fix up before moving in
@JOESCHOOLSHOW Жыл бұрын
My cpa always tells me I can’t use my home because I make too much money?
@G_Money_ Жыл бұрын
I bought a home last year in 2022. I'm about to file my taxes. Well I get the tax benefits every single year or is it just a one time thing?
@adesa1 Жыл бұрын
Where is the video for us with multifamily homes???
@Factor21215 ай бұрын
So basically if i don't rent it to someone then i don't get to write off anything?
@erickhenderson97952 жыл бұрын
I definitely found value in this information, thankyou 💯
@Da_Crow2 жыл бұрын
bruh! this was fire!!!! can you do an update for my upcoming home buyer taxes....2021 taxes
@jo-annmacneill6454 Жыл бұрын
hello, I bought a townhouse back in May 2022 and some other KZbinr said you can claim $15,000 as a first time home buyer is this true I live in Massachusetts thanks for the help
@WalksWallStreet3 жыл бұрын
Just found this channel. I really like it. Very helpful video, thank you!!!!
@morolove9652 жыл бұрын
Man you made this so easy to understand 👍👍 thank you so much