How NOT to pay the IRS - Cardone Zone
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- เผยแพร่เมื่อ 26 ก.ย. 2019
- The rich guys do not pay the IRS. It’s not that they don’t pay, they defer. You need to change your mind about paying the IRS. Pay more...
1. You want to pay more taxes. If you pay more you make more money.
2. Reduce the bill
3. Defer the bill
What if I told you that you can buy a swimming pool or hot tub and deduct it? What if you could join the country club and write it off? No one is going to tell you this kind of stuff. My Rolls is a business expense. I only use it to drive to and from work. I write it off.
Pay attention to money. All the big boys pay attention to the small things. You can’t do any of this if you don’t have money. Cash flow is the holy grail of all finances. You have to have money to do this game right. Did you know that heavy vehicles over a certain weight are a tax write off? Why do you think I bought a Range Rover for my wife? Because it’s heavy. I write it off.
Last year I had my biggest tax problem. I asked my accountant if there was anything that we could. He said no. I called every day asking the same question, “how do we not pay this?”
I bought a 40 million dollar jet and wrote it off as a business expense. What do you think I’m going to get with the jet? More opportunities for expansion. Would you want that or would you just pay the 40 mil tax bill to the IRS? What would you get from that?
Everyone should take 9 tax exemption claims. Max out your exemption so they take less money from. It puts you in a different withholding bracket. You have to get your game tight.
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Grant Cardone Career and Bio
TV Undercover Billionaire
CEO - CardoneCapital.com Real Estate Holdings 2.2B AUM
Founder - 10X Movement Business Conferences Worldwide
Author - The 10X Rule. (Plus eight more biz books)
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Raised Over 100M for Charites Apple PodcastsThe Cardone Zone on Apple PodcastsCareers · 2020 (420 kB)is4-ssl.mzstatic.com/image/th... TH-camGrant CardoneGrant Cardone is the author of eight business books, thirteen business programs, and is the CEO of seven privately held companies. Forbes calls him one of the top social media business influencers in the world. Cardone founded and manages a real estate investment firm, Cardone Capital, with $1Billion assets under management. He also travels the world consulting Fortune 500 companies, small business owners, startups and governments on business expansion. One of his enterprises recently hosted The 10X Growth Conference at Miami Marlins Park in Miami, Florida with over 34,000 business people and entrepreneurs in attendance from over fifty countries. Mr. Cardone resides in Miami with his wife, Elena Cardone and their two children, Sabrina and Scarlett. Visit grantcardone.com for his latest blogs, news, tips, training, and where to catch him LIVE!
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Hiring the professionals to look over all of these tax technicalities is definitely the best way to go. You will never know all of the code and pretending you do can be dangerous!
Never thought of that. I am watching now with my partner. Been following Grant a lot and I love his tricks. Thanks for uploading, now let me finish watching
hey Bro! haha you too. Grant is one of the biggest influencer in my decisions. Following his channel also helped me a lot.
The IRS will probably penalize me for liking this video.
😂
“If people like you, they’ll listen to you, but if they trust you, they’ll do business with you.” - Zig Ziglar, author, salesman, and motivational speaker
GC you are so funny and entertaining during you're teachings !!!
Damn!! You always kick ass, thanks for sharing your knowledge with us.
I love this! It’s hilarious and absolutely true!
I enjoyed learning through this video. Thanks, Mr. Grant. This is Anthony from Santacruz, Mumbai, India.
So much value in this video. Thanks Grant 🙂
This video is everything uncle G👏🏼🏆🚀💯
After four years my business finally started picking up speed having been making about 10K for the last eight months and still very happily driving around in my Chevy Cruz :) lol
Stylin Manny
I MISS THIS KIND OF CONTENT.
Thanks so much for the awesome video Grant 🔥 This will definitely help me Grow my Business and Become Wealthy!! Keep it up! 💯💯🙌
Interesting when you put "the IRS" together it spells "theirs"
Just realised 🤣🤣🤣 their the biggest thieves
@@a1bells501 Cardone admits to scamming his costumers on Jordan Belfort podcast. He should be working for the IRS!
@@frankgatsby1297 show me the minute where he said it? Don't be fooled by the negativity. It's called Business strategy. GC is the last guy who would scam people. Haha JB has a history of scamming...
@@Andrew-md1to Sorry brother, I'm not gonna watch the whole thing again just to tell you the minute, you can watch for yourself and come up with your own conclusions. JB went to jail for it, hoppefully he learned his lesson.
Frank Gatsby didn’t think so. I listened to it and didn’t hear any scams
This is a must watch!
Good to know about it, helps thinking outside the box!) Thanks!)
Grant you are the man !!!
Yes, The Wolf exposed Grant’s ego; and still... you cannot deny the value Grant gives on his content. This irs episode taught me a lot today. 🔥🔥🔥
Grant is hilarious and the goat. period. Learn so much from him
Grant is the man! Nuff said...
Fadie!
@@vitruviansports7439 What's Up!!
Hell yea awesome Video G
Wild man! On point.
Solid info and funny. ty GC
Damn you guys in the US have such great Tax Rules like 1031 Exchange etc. That G makes Millions of Dollars and doesn't pay Taxes because of Real Estate and the Jet deduction is unbelievable. I know you guys even had something like an Entertainment deduction. America is awesome for Wealth and Business. I wish we in Germany would have more of them.
Too much socialism in Germany/Europe.
1031 exchange is designed to keep people reinvesting in America. So it is great for the economy, it forces people to keep reinvesting their profits if they want to avoid the taxman.
@@farzana6676 Yes Agree with socialism in Europe...but if I watch channels like RT America or fox business etc, damn, the US gets also more and more socialist with you're democrats, I have the feeling all western rich counties tend to more socialism.
Yes ,its a fantastic Tax law
@@Andrew-md1to Yes I agree. Democrats are anti American. It's like the modern radical Democrats are hellbent on destroying American power.
They incentivize stimulating economy and jobs in usa
Farzana Patel well they’re not anti American they just want control of people and think government should make your decisions. Similar to the book 1984 big brothers watching. They’re anti freedom I guess they are anti american.
Simply amazing.
Best one yet!!!!!!
Just tell IRS " I got fish!"
this dude is A BOSS!!!!
Tax Planning is absolutely essential
About to cut the check to irs for $7500.... need to watch this first I guess? LOL 😂
Love it!
You are my inspiration
I am obsessed and refuse to have an average life.#BeObsessed.
You're a genius!!!
Great vid GC! #wgmm! I live the cray cray Uncle Gary!
Wow I didn't know that gifts were deductions?! 👍👍👍
On Jordan Belfort podcast GC openly brags about fooling the people that invest in his stuff. You might wanna check that out before giving him your money.
Uncle G super smart
“...you see me coming to the officio, you’re going to see me in the Rollyyyy. JOHN! over at the IRS... 💪🏼💪🏼💪🏼.”
Hey Grant!
i just watched one of your previous videos and you said to not buy an SFR instead multiple units. My question to you is this, is there a way to start off by buying multiple units as my first purchase? Because surely i wouldn't be able to afford units for my first purchase.
Cardone capital all the way! More important though is just do something! Being still kills! Move forward with an idea or dream you have. Don't just think about the same damn thing day after damn day. Action will bring you the results you are looking for. 10x!
You are not uncle G your the GRANTFATHER THAT WAS SOME MAGIC I JUST WITNESSED ... KEEP ON GIVING WHILE YOU'RE LIVING ... GRANT
Question: can I write off a car I bought prior to owning a business? If not, can I change my car to another model when I’m allowed to refinance, while owning a business and get that written off?
Would love a video about how to get a loan after writing everything off then having a low DTI thats the issue im having now write offs = low/no taxes but you also dont show income and the bank doesnt like low income
Thanks for the video grant
You remind me of one of those southern preachers.
Grant go to the dealership and be like, "how much does it weigh?"
Are there deductions if you buy real estate or assets with the cash
I'm buying a coffee for Cardone right now.
Regards from UK.
24:55 and 25:50 Please, can someone help me understand more this part ? I can't understand how it can benefit the compagny and benefit you for renting the 10 million house. Thanks to who can help me ;)
And then Grant say that if you rent for yourself, you can write off everything, it's for the business or for the guy and the business ? Sorry if it seems like i don't understand so much x)
THIS SHIT IS GOLD!!!! HOW MANY PEOPLE DONT KNOW THIS STUFF??
gangsta
Damn, I love this shit.
Kevin where are you? 😂
Damn I love this shit.
Heres the thing I get buying items but what is the local tax he paid on the hummer. Theres state taxes every year that are associated with the car or airplane so hes really just avoiding fed taxes in order to pay state and local taxes so whats the difference
26:20 Golden Tip
How can one claim 9 dependents if one only has two children? Please explain.
Parents and siblings.
Hey GC
Need you suggestion please !
I own a house which costs 30 lakhs
I want to sell this n invest that money
In real estate .
I'm a freelancer gym trainer
I can't save that money in coming 5yrs n invest later
So wanna to take risk n invest now
Is that a good idea ?
I'm staying in a rental house now
With my family parents n 2 brothers and wife
Watching from Toronto
Raymond Harlall you going to the Canadian wealth summit?
The the big D on it!
I like the example of the person that paying $1500 in rent an have barely no money that’s basically me. Call you elaborate more on how someone like that can stick it to the IRS LOL.
Can you claim your parent that doesn’t work an collects ssi
Fellow tax accountant here- the first $25 of gifts per person is deductible, it’s not free for all. This will be observed in an irs audit.
You can’t deduct the entire amount of charity if you received money or gift from it neither. It has to be a recognized charity as well. You can’t just donate to a personal gofundme and deduct that
That’s why you always include your logo on the item and convert it from a “gift” to a marketing expense!
The whole be your own tenant thing...🤯
Jonathan Langlois not sure that’s legal, look it up
Jason Corbin lol if I have a separate entity owning the property and I myself my entity lease it then technically I am not my own tenant. An LLC in a way is it’s own person...
Jonathan Langlois I’m aware of the concept and have my own entity in real life... I’ve looked into this already in the past. He’s very creative in mentioning it but it won’t work and if your caught you’ll owe. But feel free to try, you might get away with it but that didn’t mean it’s legal.
Jason Corbin i dont see how its not legal. A different entity is a different entity.
Jonathan Langlois keep researching the concept, it’s not a risk I’m willing to take.
You got fish?
I'm not interested in fish!
***How do I make money if I keep taking the money I make and putting it into another business?
You dont until that second business is making money on its own.
If the second business never becomes self sufficient, well you took a gamble and lost all that investment
What kind of MLM is in gym business? I work out everyday
R Cruz Herbalife , isagenix , etc..
Question and statement: why aren't we all banning together and not paying the IRS? They are privately owned and not the government. Hmm....what if?
Why ban them? Just take advantage of the rules, then you don't need to pay, the only People that don't wanna pay them don't know how the rules work
🍻🍻🍻🍻
I'm just curious, what's up with Grant often talking on the videos with his mouth full of food? I've even seen him do that on scene, on some convention. It's really disturbing (disgusting) and pissing people off.
Put the big D on it
haha
So the Americans prefer to buy stupid things over paying their taxes?!?
God bless America.
It saves them money because if you buy something in your company lets say for 20 million dollars and the following years when you make money you can use that 20 million dollar to deduct how much you owe? For example say you make 30 million the following years and you deduct 20 million of that you will only owe taxes on 10 million instead of 30 saving you about 12 million dollars. You only pay 4 millions dollars instead of 12 million dollars in Taxes
Hy bro help me I want to promote your 10 roll in india
OK, saw NOT pay IRS...getting happy..20 minutes later, still looking for answer..not happy, and still owe
I really hope you don't mess with tarot cards and reading horoscopes. That's evil.
Content from a year ago. Booo
I got fish!
I GOT FISH!
Pay them with fish
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és egy centet nem engedek el belole:)))))))) hiába halogatoad a kifizetést ez csak több lesz :AI:)))))))) + a google térkép számára 10 milliárd euró a kilométer ora feltüntesért járó jogdij :)))))))))))) azt akarjátok dolgozam nektek nagy csicskák:))) akkor sajnos ennyi az ára, de nincs semmi gond ha azt akarjátok ne dolgozok nektek akkor is ennyi az ára:)))))))))))) ezt is boszoptátok:)))))))) adom a nagyhatalmaknak :)))))))))) nagyhatalmak elbuknak :))))))) én pedig nyerek:)))))))) megmondtam az elején nem tudtok velem mit kezdeni:)))))))) 2 választásotok van fizetek vagy fizetek:))))))))nekem nem fog dirigálni egy seggfej milliárdos aki 2000 dolláros szálodában alszik egy ejszaka, hogyan osszak be a pénzem:)))
I GOT FISH
The public verdict morphologically empty because belief interestedly hook beneath a scarce jeep. well-groomed, tangy respect