"Tax evasion is a crime. Tax avoidance is an art."
"The problem is that most people don't pay this; most people in China are still employed in the informal economy."
"In the United States, federal income taxes and most state income taxes are due on April 15th."
"Deductions reduce the amount of your taxable income."
"If you love your children, you don't pay inheritance tax or estate tax."
"We are also extending the tax filing deadline to July 15th."
"Well, I'll visit the IRS next time I'm in DC."
"Medical expense deduction will drop to 7.5 percent of your income instead of 10."
"I spent $200 on Piggy toys! Look, it's a tax write-off. I can write it off my taxes. It's fine, it's a tax write-off!"
"If you're a Puerto Rican resident, which means you live there for 6 months and one day each year, then you pay no federal income tax."
"The tax code is designed and benefited in a way for people who are very very smart and very very intelligent who have businesses to avoid as many taxes as possible."
"It's called tax avoidance, and there's nothing wrong with it; it's perfectly legal."
"Once you're approved, there is no tax."
"You want to make sure you don't get a big old surprise at tax time."
"LLCs do not save taxes, but I love the asset protection point. The LLC sets the platform, the structure."
"Social Security is more tax-favored than other types of income."
"All these things, including Social Security, are important aspects to know to keep your tax bill as low as possible in retirement."
"When you author your own tax calculations, you have a little bit more control over what's going on there."
"You're also going to use this filter function a lot as you start to build more and more advanced tax calculations."
"A huge perk and this is one of the obvious ones this is why most people move here is there's no state income tax in Texas."
"So if you spend at least 500 hours on it then you would have met material participation which means any losses created on these midterm rentals can offset W2 and other income."
"But although he evaded his rivals and numerous attempts on his life, he couldn't escape the tax man."
"You don't have to have an LLC or a corporation to write these things off."
"If you can hold onto money every single year because you're able to lower your taxes, that's more money in your pocket that you can then reinvest."
"So your loan commissions, your realtor commissions, Consulting Property Management fees, all of that you can shelter that income with the same depreciation."
"If your kids are going to inherit property from you, once that property's changed, they're going to owe an estate tax."
"Know the types of income going into your LLC to avoid unexpected tax liabilities."
"Document personal expenses incurred on behalf of the LLC to avoid tax issues."
"If you had any crypto transactions last year, you got to check the box 'yes'."
"Number two: Home office. That's something you're probably not looking for in your statements, but it should be an expense to you."
"Number five: Dining. When you meet with a vendor, a customer, a partner, and you're talking about business, that's now a write-off."
"A good tax advisor can save you 10 times what you're paying them."
"So it's called a 1031 exchange. And what I'm really doing is I'm taking value and I'm buying equal or greater value."
"The government wants you to retire comfortably... and [a Roth IRA] is one of the best ways to make money and not have to pay tax on it."
"Proper trust usage can reduce inheritance tax to effectively nothing."
"Even if we decide that it makes sense for proposition 19 purposes, proposition 13 purposes to deed houses to a kid you might recognize capital gains if you make that transaction with your child."
"If you have an office, rent a small space and use that as an additional write-off for your business."
"The best part of it all is that I was making six figures tax-free."
"Being an overseas government contractor isn't for everyone but it is for people who want to make six figures tax-free."
"Business users will be able to write down as much as 100% of the cost of this car against their tax liability."
"I told the IRS that I am non-taxable."
"Americans see what it really means: a tax on workers and business in terms of both time and money—money and effort that rightly belong to the taxpayer alone."
"I still hear from a lot of investors where their CPA or their tax person tells them not to take the home office because it will be audited."
"The biggest benefit of having your money grow in a Roth for 1K account is that all earnings are taxfree."
"...if you're someone who's looking to simply invest long-term, dollar cost average and lower your tax liabilities so you can maximize your returns at the end of the day..."
"Tax loss harvesting can potentially reduce taxes from a 40% ordinary income rate to a 20% long-term capital gains rate, which is a significant difference."
"Tax loss harvesting can have a significant difference on your tax year, potentially reducing taxes from a 40% ordinary income rate to a 20% long-term capital gains rate."
"So in theory, the tax treatment, sure, that you have not without the LLC, should not change with the LLC. It should be identical."
"Nobody can dispute that. So the IRS, actually in their tax code, they have a series of pages that tell you what they want you to invest in."
"Contributions to these accounts will reduce your taxable income which is awesome."
"These growth within our investment would not be taxable in Canada."
"You want that lever account in retirement, it'll create a lot of flexibility and help you save tax."
"Looking at all sources of your retirement income and the tax on that retirement income is extremely important."
"Tonight, what else by the end of 2022 pay my tax bill so that's just like done and dancing with uh I don't know this like I just I love having goals."
"So if you owe the IRS back tax and you think there is no way, no way you're ever going to repay that, then an offering compromise is definitely something that you should look at."
"They will put your case on hold, it's called currently not collectible. In that scenario, they will drop all levies, they will drop all garnishment, they will not try to collect the tax from you, and they will basically close your collection case."
"So if that's you today, if you owe the IRS back tax, you do have options. My recommendation is do something."
"In the Netherlands, we have the 30% ruling which means that 30 percent of your salary is tax-free."
"...a tax credit would be much more valuable to you. This is because a tax deduction reduces your income, which is still taxed, and a tax credit reduces your actual tax liability."
"Business tax credits are credits that are available for businesses when they file their annual tax return. These credits are used to offset a company's financial obligations (aka taxes) to the government."
"Most small businesses lower their tax liability through taking advantage of small business tax deductions and business tax credits."
"You can increase your refund and reduce your tax by checking more expenses."
"Regular people with W-2 jobs can now unlock bonus depreciation."
"Currently, the plug-in hybrid is qualified for the full $7,500 tax incentive, so keep that in mind."
"Avoid passive loss limitations by becoming a qualified real estate professional."
"Tax pays for our public services and our public services deliver our future. They help us realize our aspirations whether that's good health, good education, good infrastructure that leads to improvements in productivity."
"Go out and figure out how you can make money and minimize your tax burden."
"Those contributions are pre-tax, so when you put that money in, you're saving on taxes the year that you contribute."
"Bonus depreciation is still 100% in 2022."
"I know you've heard all this talk about tech companies in the US having an Irish sub... Tech companies in the US have used their Irish dummy corporations to lower their effective tax rate. But it doesn't permanently lower your tax rate."
"'Do not rely on YouTube Reddit and Facebook groups for tax specific business advice.'"
"Leveraging vehicles like a CRT, a foundation, and having rental losses on your tax return can help you if you're in the space where you do not want to leave the United States."
"The biggest problem with that isn't just the annoyance of it, it's that the companies are taking your donations and using it as a tax write-off."
"Tax credits have the potential to save you thousands of dollars in the long run."
"If you set up a business on the Isle of Man, you pay almost no tax."
"The goal is to legitimately, and honestly and ethically, transition any personal expense possible that could be related to your business and write it off without getting into trouble with the IRS."
"The good thing about America is that they allow you to um they allow you to reinvest profits into the future so that's really useful as a reseller you can buy stuff that you're going to sell next year this year and defer the tax that's not tax evasion that's business 101."
"I always say it's never a bad thing at tax time to have a tax bill, right? That means that you've been able to hold on to your money for longer."
"There's no other way to build and grow wealth without paying tax legally than the Roth account."
"You're able to write off a hundred percent of the building's value."
"Generating more income and lowering my tax bill."
"So, if you do the Roth conversion when the market is down, your tax bill will be lower as well."
"Keep your receipts to maximize your deductions."
"Who doesn't want to save tax, who doesn't want to get... Let's be honest, right, depending on your relationship with money, a lot of people hide from money, that's true, a lot of people don't want to face it."
"In Florida, we have no state income tax."
"So much less tax, it's insane. Worth the added pain."
"...if I make 200k a year and that's how I was able to afford this on this million dollar building, I can do what's called bonus depreciation and you can write off 20% of this building the first year."
"Montenegro is definitely one of the most attractive destinations from a tax point of view."
"...the basic idea of using index funds or tax managed funds here is that they tend to limit taxable capital gains distributions so they tend to be nice tax efficient holdings for your taxable account..."
"In 2026, this tax trap gets that much worse because tax rates are going up."
"A 1031 exchange allows you to roll over the proceeds from the sale of one property into the purchase of another, deferring capital gains taxes."
"Sell real estate and buy other real estate and not pay capital gains tax along the way."
"It was ruinously popular to introduce a plastic bag tax."
"The section 174 changes are a dramatic shift in the tax treatment of business investments in research and Innovation."
"The offshore system is the establishment and all this kind of tax dodging stuff... is right at the heart of the city of London."
"Child tax credits and the amount of $250 per month per child under 18 and $300 per month for children under 6 will be in effect for the 2021 tax year."
"We want to ensure that we maintain, as they have said, fairness in the tax system."
"When you withdraw the money from the plan during retirement, your marginal rate could be lower."
"Millions of working people will now start to pay hundreds of pounds less in tax from this month's pay slips."
"Learn how to milk your S corporation for tax-free cash."
"It grows tax-deferred, and I can access it completely tax-free if I do everything properly."
"RRSP meltdown that could potentially reduce your income tax by a huge amount when you withdraw from your RRSP eventually."
"This is the ideal way to pass on life insurance to make sure that neither the state nor the federal government can tax those monies."
"Most countries will give you a foreign tax credit for any withholding tax on your RRSP or RIFF withdrawal."
"Good news for you, your social security benefit will be tax-free."
"It's a tax-sheltered account meaning that the government cannot charge you any taxes on the money or investments that you have held in that account."
"The money you contribute can be used to reduce your taxable income just like an RSP, and your money is also growing tax-free just like in a TFSA."
"I'm a certified tax resolution specialist."
"We've been working very hard on creating a predictable tax structure."
"The new FBT exemption that's huge because if you buy a mainstream EV with a novated lease, you're not going to pay that fringe benefits tax at all, big fat zero, dude."
"Act 22 is called the Individual Investors Act and offers zero percent short and long-term capital gains tax and zero percent tax on dividends."
"A solid understanding of both tax policy and the tax system as a whole is critical not only to business success but also to your own personal financial independence."
"There is no state income tax in Washington."
"It gives us a cool tax credit at the end of the year."
"Let us together look at the transformational journey we have had this year which was aimed at making tax compliance easier for our taxpayers."
"The food truck wrap... any of that that's involved with the food truck wrap is also something that's potentially tax deductible."
"What I like about eBay US is that eBay will collect a sales tax from the buyer... so you don't have to worry about filing for sales tax in the United States if you're Drop Shipping to them through eBay."
"The IRS is on the side of taxpayers and we are working to reflect that in every aspect of our operations."
"For losses to be allowable, the business must be run on a commercial basis with a view to realization of profits."
"The money will continue to accumulate tax deferred."
"Open a tax-free savings account... it is completely tax-free."
"Dubai is our number one... it's easy to live in, meaning that you can easily get residency there, it has zero tax, very straightforward zero tax, and it's quite livable."
"Puerto Rico... they have separate tax rules that you can potentially pay zero tax on certain income."
"If you qualify as a real estate professional, all these losses are right off against any W-2 or small business income."
"The personal savings allowance... is an amount of money which varies depending on the tax bracket you're on."
"Tax planning for efficient retirement distributions can prolong the sustainability of retirement assets."
"The purpose of the form is to report sales and exchanges of capital assets."
"From a tax perspective, it's more beneficial to do a partial conversion year after year."
"This is one way that you can pay zero dollars in taxes in early retirement."
"How to use depreciation to get your tax bill to zero."
"The personal allowance will rise for the seventh year in a row to £11,500, and the higher rate threshold to £45,000; 29 million people will be better off."
"The math sort of changes where we're not just looking at investment returns; it's about tax savings returns and tax-efficient withdrawal strategies."
"The ultra-rich are simply not paying their fair share and doing everything in their power to avoid it."
"Most international students completing a degree in Canada on a study permit are generally considered to be residents of Canada for tax purposes."
"Outside basis is your tax basis in the partnership interest."
"It's a very tax efficient way for a lot of our clients to potentially move or incorporate their portfolio across."
"With no income tax and very low business rates, Monaco is renowned for being a tax haven."
"The most accurate withholdings come from using the online estimator at irs.gov/w4app."
"Any money that you spent in 2020 on your business is tax deductible."
"We should agree that the tax code should be fair, and nobody should be treated better just because they've got better accountants or better lawyers."
"The thought of completing your self-assessment tax return can probably fill you with dread and anxiety."
"The earlier you know this stuff, you can start to plan for it and really put money away and save on taxes."
"One of the best ways to protect yourself from high tax liability and one of the best ways to earn income passively."
"If you don't have a tax liability, you can still get a $1,400 refund for each child."
"Your child has to be 16 or younger, so under the age of 17, as of December 31st of the tax year."
"It will estimate your quarterly taxes."
"Life insurance enjoys favorable tax treatment from the Internal Revenue Service."
"Long-term capital gains... are those gains from the sale of an investment an asset that you've held for more than a year."
"Fairness and equity in our tax system is essential."
"Not only was the taxpayer required to do this to reconcile their actual premium tax credit with the advance portion, but by doing so, it helped improve their tax refund for the year."
"The child tax credit for 2023 is $2,000 per child."
"Every part of the tax return can be affected by what comes in from a K-1."
"You only ever have to worry about capital gains tax if you sell a property."
"All unrecognized deferred tax assets and liabilities must be reassessed on the appropriate balance sheet date and measured against their probable future economic benefit."
"Companies are required to disclose the deferred tax assets and deferred tax liabilities."
"The term net deferred tax liability generally refers to deferred tax liability minus deferred tax assets."
"When you first start a business, a lot of your personal expenses that you were paying for anyway immediately become tax deductible business expenses."
"You as a UK tax resident individual can earn up to £12,570 per annum tax-free."
"It's a great option for anyone who has tax experience for themselves that wants a super quick filing option to do online."
"Tax paid on Goods entering a country is referred to as customs duty."
"The increase in the personal tax threshold... will put 330 pounds in the pockets of 30 million people up and down the country."
"This may save you potentially tens, if not hundreds of thousands of pounds in tax over your business career."
"When you sell the shares, you might qualify for business asset disposal relief, formerly entrepreneurs relief, which means you're about to pay just 10% tax on up to a million pounds worth of gains on that disposal."
"In Washington state, we have zero income tax, which means as long as you work within the state border of Washington, you're not paying any additional income tax outside of your federal income tax."
"These instruments offer enormous potential tax advantages along with enough freedom to address the needs of even the most exacting client with highly peculiar preferences."
"A tax credit reduces your tax liability on a dollar-for-dollar basis and it's generally more valuable than a deduction."
"To qualify for the foreign tax credit, a taxpayer must have earned income in a foreign country and paid taxes on that income."
"Sulla, as a display of gratitude, granted them a tax exemption which they would enjoy for centuries to come."
"I think it'll be good to give a tax cut, an income tax cut, to everyone who pays income tax. I think that's fair."
"The total amount that you can invest each year is twenty thousand pounds, and they are tax-free."
"If you don't have any gains to take in the current year on your current tax return, you can take up to three thousand dollars off of ordinary income."
"The qualified business income deduction can be taken in addition to the standard or itemized deduction."
"We will be getting rid of the GST on apartment construction in Canada to build more homes for Canadians."
"I'm committing today to reducing property taxes 30% over five years."
"Good afternoon, we're going to cover the form 7200, the advanced payment of employer credit due to COVID-19."
"Trading is one of the few things where you could work all day long and all that money you make can be completely tax-free."
"Organizations that meet the 501c requirements are exempt from federal tax income."
"Your paychecks will be much bigger because, under our tax cuts, you will be keeping more of your hard-earned money."
"This tax credit is refundable, which means even if you have zero income, you still get to take advantage of getting this stimulus check."
"Your primary residence and your tax-free savings account are completely tax-free upon death."
"Every day that SALT is not repealed, it costs us $33 million."
"Everything you give me is tax deductible and a hundred percent of the proceeds go towards the efforts of helping Haitian immigrants to assimilate into American society and just do better."
"It's completely tax-free, there's zero investment risk."
"That negative 83 can offset your taxable income from other items or from other sources."
"The tax planning window is the time between that they retire and when Social Security and or required minimum distributions kick in."