#motivation #money #success #taxes How HIGH EARNERS PAY NO TAXES - If you make a lot of money, and are tired of paying most of it in taxes... Watch this video. ~ GC
“lf nothing is done on your finance, lncome will relatively be unchanged." Wealth is attained through Pro aid, that’s why the Rich seek aid of finance Pro(s) to attain wealth but claim to attain it themselves
”Don’t lay your eggs in a basket.” I attained wealth by varying options with the aid of my finance pro. and so far have attained so-much in my finances. Give this a try and attain wealth.
Tax consultant here. The overall concept is accurate but every time he talks about borrowing against assets he never mentions the cost of borrowing and not once mentions the risk of over leveraging.
This has to be one of my most favorite videos on the internet… wow GC you really gave them the game 🙌🏽🙌🏽🙌🏽 I hope people are listening to the wonderful information you are sharing
In my opinion, Grant is totally correct! Nobody ever teaches us these concepts unless you get into the wealthy class. And even then it’s rare. My family has ownership in over 2000 apartment units and growing cities and areas of the country. We also have interest in a commercial property in Arizona. That’s almost fully occupied. We have received investment checks every single month for the past five years.
Bro! You just shared your Grail of indestructible wealth with us for free. You are a very noble person, let's bark guys, so that Grant can see our gratitude to him for this!
I love the irs! In 2009 I was running around collecting scrap as a side hustle and made $1300.00 over the summer. I itemized my deductions, (gas, food, truck repairs etc.) and after everything I got $1300.00 back in taxes for that year. Really it's the only thing I remember from my associates degree....
00:00 📈 High earners often focus on reducing their tax bill, a major expense for them. 01:08 🏡 Invest earned income into real property to reduce taxes; for instance, $1.6 million could buy $4.8 million worth of real estate. 03:59 💰 Reinvest earned income instead of spending it on watches or houses; aim to create passive income through real property or a second business. 07:50 🌟 Utilize real estate's increasing value to borrow money against it, creating a tax-free cash flow while maintaining ownership of the assets for future generations. 10:37 📊 Wealthy individuals focus on buying assets and reinvesting earned income rather than consuming it, allowing assets to appreciate while talent depreciates.
I drive past one of Grant's homes in SoCal a few days a week going to/from my Government job. Makes me a bit depressed but this video makes it a reality.
Loved the video Uncle G, the 10X Headquarters is where it's at, I gotta replay this vid 10X TIMES to get you to do a deal with me! I missed out on the mentorship program for not having the Gs but im going to be active on the interactive on the 19th, I can't make it to Arizona but you know that I am working up to landing my first 1million dollar deal
I wasn't financial free until my 40's and I'm still in my 40's, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn't matter if you don't have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before investing again.
Yes, My mentor CHARLOTTE GOLDYN ALLAN has extensive training and knowledge in the financial industry. She is regarded as an authority in the field and has an in-depth understanding of portfolio diversification. I advise doing more study on her credentials. She is a great resource for anyone looking to understand the financial market because of her extensive experience.
Grant I found you again on X and came here to subscribe to only find myself already a subscriber. I’ve never seen your videos or notifications. YT is such trash 🚮. Glad I found you again!
Great video! Only challenge is the net business loss limit rule doesn’t fully allow W-2 earners to write off business/passive losses against active income up to a certain limit. Luckily, it would carryover each year as a benefit. For business owners that have more control over their income, they can set up a trust and bypass the net business loss limit rule.
What I love is that he is giving a 6-8 year plan here. There is not a shortcut in which you can intentionally gain wealth. I am reminded of a quote by Burton Malkiel - (if I may paraphrase) there are no “get-rich-quick” schemes, only get-poor-quicker.
سلام جناب آقای گرنت کاردون ، من علیرضا هستم از هزاران کیلومتر دورتر از شما بشما سلام و خدا قوت میگم شما انسان بزرگ و تاثیر گذاری هستید کتاب ده برابری و کتاب خاص بودن و کتاب صد انگیزه ، شما فوق العاده است ،شما پدر و مادر بسیار بزرگی داشتید خداوند روحشان را شاد کند ، من از ایران بهترین ها را برای شما آرزو میکنم ❤❤❤❤❤❤🎉
I love math in real estate! Great video, Grant!! You make this easy to understand. I'm just trying to get my next deal. I'm trying to make the next year my last as a machinist!
@Grant.Cardonee Yes, sir. How are things today? I've been learning investment real estate for the last 3 years. I am 43 and I am so excited for my future! The amount of wealth that I build will be unbelievable! When I saw your G700, I knew I wanted to purchase a G800 and travel the world!
Expenses (or write-offs) in one business (real estate holdings in this example) can not be offset from income earned in another. Am I missing something? If your earned income was from real estate then yes, but ball player, I don't think so.
You are correct. This “secret” he shares does not work. You can’t deduct passive losses to offset ordinary income. IRS is very clear about that if you are not a RE Professional
9:56 - Borrowed money has to be paid back. You gotta earn NEW money to pay back the loan you borrowed. This new money you earn will be Taxed. On top of that, you are paying Interest on the loan. Now you’re paying Taxes + Interest. So how exactly are you paying $0 taxes??? Someone please clarify.
I own a rental property that is paid off. If I borrow let's say $100k from it at 9% current rate. Payment let's say is $1500 month. I got the 100k check deposited to me from the loan. I rent out that home for $1500 month. Rent = mortgage payment = no profit. But I got 100k deposit into my account. Paying 9% to the bank sure but better than the 20%+ to taxes. And now someone else is paying that debt down for me and I got the 100k cash to go do whatever want with.
@76ers can still do it but not right away. Have to have equity in something to borrow against it. It's more so in business where it's making a lot of money. Instead paying taxes they are able to just keep investing it and show "zero" profit because it's being put back into business
Grant is right if you qualify as a “full time real estate professional” per the irs which I believe is 750 hours or 30 days per year. That is tough to qualify for if you only have a few units. But you do get to carry all those into the future and recoup them one day
Paying taxes is a good thing. I want to fund the National Health Service. I want to fund education. I want to support child support services. My dad has had prostrate cancer, Liver Cancer & a lumber puncture. He’s 86 & still alive (just) & it hasn’t cost him a thing. (Well bar his NHS contribution which is about £500 a year)
It's worth to mention you don't have to buy properties on your behalf but open an Inc. format business and buy properties in its name which you're the owner Opening a holding company using Inc format you don't pay IRS because you receive the rent amount as dividends
Hello Grant Cardone me encantan tus videos, pero no se mucho inglés puedes hacer tus videos con subtitulos en español sería muy genial please, quiero aprender más me encanta la manera que explicas he visto videos que te traducen tus palabras en español
My question is if I make 20k trading monthly, and I push 12,000 of that to you, will the capital fund be enough for me to avoid taxes on the quarter/year. The k1 is the number one thing imo being totally tax free or down to hundreds on the year instead of thousands
The maths is not adding up for me 3% of $38.4m it's not giving me $100+ m. 3% is 0.03 for 10 years it is multiplied by 10 which gives 0.3 So 0.3x $38.4m will give $11m. When added to the capital gives a worth of $49million. Pls correct me if I am wrong or am I missing something
That Mercedes can last 300k miles. Your new tesla will be broken in less than 20k miles. You only think 🤔 your saving money 💵 until you need parts and batteries 🔋
@@jimmyac5738 Are you referring to his numbers where he said you can take $2.4 million in depreciation on a $4.8 million property? He said his numbers based on a $4.8 million investment property is based on an actual deal he is currently doing. He also said the depreciation of $2.4 million he is using is based on taking the accelerated depreciation vs the depreciation over 27.5 years where it gets spread out evenly over the life of the property.
The Richest Man in Babylon: don’t feel sorry for yourself because anybody can get wealthy and it’s a mechanical process. The 10X Rule: Get off your bottom and put a dent in it. You’ve got a lot to do and it won’t do itself. This video: Here’s one of thousands of tips.
So many exceptions made here to make this pitch seem exciting. 1. Accelerated deprecation is being phased out and is 60% for 2024. 0% by 2027. #2 you can only accelerate less than 20 year use life assets.
I keep trying to convince my father of this. He has about $7M in property commercial and realestate. Its all paid off. Pays taxes on the rent every year. Keep trying to tell him to borrow just 20% even and use rent income to pay the loan.. migjt be paying 9% on loans but better than 25% in taxes.. he doesnt get it
Sorry not following. If I got a certain amount income and buy a property, the property cost or value is not tax deductable. What am I missing?Oh I got it. Through depreciation but how come you can buy a property at 1.6m and calculate depreciation for 4.8m. That's not how it works is it?
If you're making big money (like $2 million), the trick is to slash your taxes to zero. How? Invest in real estate, skip the fancy spending, and let your money grow.
I don't understand. If you are Rapper, Ball Player, Comedian -- your income is either a Non-Passive K1 or a W2. How does the depreciation of the real estate (passive) offset the non-passive income?
Agree. I think you need real estate professional designation (maybe viable) or via short term rentals to depreciate against ordinary income. Please let me know if I’m mistaken.
![ช้างศึกสู้ต่อไป!! พาเปียโน ดูบอลไทยครั้งแรก ตกรอบแบบโคตรเสียดาย!! l [Nickynachat]](http://i.ytimg.com/vi/4WloIH645Lg/mqdefault.jpg)
Grant is beyond amazing. wealth has no shortcuts, do this.
“lf nothing is done on your finance, lncome will relatively be unchanged." Wealth is attained through Pro aid, that’s why the Rich seek aid of finance Pro(s) to attain wealth but claim to attain it themselves
”Don’t lay your eggs in a basket.” I attained wealth by varying options with the aid of my finance pro. and so far have attained so-much in my finances. Give this a try and attain wealth.
sear ch the fuII name beIow, if you care to attain wealth
Rebecca Martin Watson
i’m amazed to partake on this, it has rekindled the fire to my finance goal.
Tax consultant here. The overall concept is accurate but every time he talks about borrowing against assets he never mentions the cost of borrowing and not once mentions the risk of over leveraging.
This has to be one of my most favorite videos on the internet… wow GC you really gave them the game 🙌🏽🙌🏽🙌🏽 I hope people are listening to the wonderful information you are sharing
Thank you 🙏🏽 we need more videos like this!
In my opinion, Grant is totally correct! Nobody ever teaches us these concepts unless you get into the wealthy class. And even then it’s rare. My family has ownership in over 2000 apartment units and growing cities and areas of the country. We also have interest in a commercial property in Arizona. That’s almost fully occupied. We have received investment checks every single month for the past five years.
Bro! You just shared your Grail of indestructible wealth with us for free. You are a very noble person, let's bark guys, so that Grant can see our gratitude to him for this!
I love the irs! In 2009 I was running around collecting scrap as a side hustle and made $1300.00 over the summer. I itemized my deductions, (gas, food, truck repairs etc.) and after everything I got $1300.00 back in taxes for that year. Really it's the only thing I remember from my associates degree....
Love you Grant! What a human being! We love you!
It's very worth it Mr. Grant. You are the best and most generous guy in the world man
So much value! Thank you, Mr. Cardone
Absolutely 💯💙
00:00 📈 High earners often focus on reducing their tax bill, a major expense for them.
01:08 🏡 Invest earned income into real property to reduce taxes; for instance, $1.6 million could buy $4.8 million worth of real estate.
03:59 💰 Reinvest earned income instead of spending it on watches or houses; aim to create passive income through real property or a second business.
07:50 🌟 Utilize real estate's increasing value to borrow money against it, creating a tax-free cash flow while maintaining ownership of the assets for future generations.
10:37 📊 Wealthy individuals focus on buying assets and reinvesting earned income rather than consuming it, allowing assets to appreciate while talent depreciates.
00:47 He cuts off a car and they have to change lanes not to hit him lmao
Watching from S.Korea again this is very good 👍& challenging. l learned a lot as always. I think --I should work more.
AWSOME Grant! Best of luck on your path to Wealth!
Amen 🙏 brother; I can’t stress enough that you need a team to win 😎🔑
I drive past one of Grant's homes in SoCal a few days a week going to/from my Government job. Makes me a bit depressed but this video makes it a reality.
Thank you uncle Grant…going to apply this now!!
GC you are a hero!
Our Uncle G is playing with so big numbers he lost some 0's in the calculation but it was very helpful thx
Thanks for the information
Loved the video Uncle G, the 10X Headquarters is where it's at, I gotta replay this vid 10X TIMES to get you to do a deal with me! I missed out on the mentorship program for not having the Gs but im going to be active on the interactive on the 19th, I can't make it to Arizona but you know that I am working up to landing my first 1million dollar deal
Grant, I love your content ❤ !!! Keep it coming!!!
Now I understand how debt is leverage! Thank you!
Thanks Uncle G!
Great framework! Thanks, Grant.
Thanks Grant always educating us financially, my takeaway reduced taxes to zero
This is a saver. I get what you just put down. I can’t wait for your Realestate class Dec 2
Yes Grant, it was lovely talking to you on the twitter live. We must eventually meet soon somewhere in Miami. :)
From a 23 year old with dreams and aspirations of true freedom, thank you for the knowledge 🙏🏽
Grant, you are so enlightening
I wasn't financial free until my 40's and I'm still in my 40's, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn't matter if you don't have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
Even with the right technique and assets some investors would still make more than others, as an investor, you should've known that by now, nothing beats experience and that's final, personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to a million, withdraw my profit right before investing again.
I've been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Yes, My mentor
CHARLOTTE GOLDYN ALLAN has extensive training and knowledge in the financial industry. She is regarded as an authority in the field and has an in-depth understanding of portfolio diversification. I advise doing more study on her credentials. She is a great resource for anyone looking to understand the financial market because of her extensive experience.
she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
Sending you love and prayers for you and your family King!!🤌🏿✨❤️🌟😇🌟❤️✨ Many Blissings!!
Thank you Bro!
Grant I found you again on X and came here to subscribe to only find myself already a subscriber. I’ve never seen your videos or notifications. YT is such trash 🚮. Glad I found you again!
Great video! Only challenge is the net business loss limit rule doesn’t fully allow W-2 earners to write off business/passive losses against active income up to a certain limit. Luckily, it would carryover each year as a benefit. For business owners that have more control over their income, they can set up a trust and bypass the net business loss limit rule.
Great content
THANKS G. C.
What I love is that he is giving a 6-8 year plan here. There is not a shortcut in which you can intentionally gain wealth. I am reminded of a quote by Burton Malkiel - (if I may paraphrase) there are no “get-rich-quick” schemes, only get-poor-quicker.
Only when everything goes well. When the market corrects and when cash flow dries out, you cannot pay the debt.
سلام جناب آقای گرنت کاردون ، من علیرضا هستم از هزاران کیلومتر دورتر از شما بشما سلام و خدا قوت میگم شما انسان بزرگ و تاثیر گذاری هستید کتاب ده برابری و کتاب خاص بودن و کتاب صد انگیزه ، شما فوق العاده است ،شما پدر و مادر بسیار بزرگی داشتید خداوند روحشان را شاد کند ، من از ایران بهترین ها را برای شما آرزو میکنم ❤❤❤❤❤❤🎉
I love math in real estate! Great video, Grant!! You make this easy to understand. I'm just trying to get my next deal. I'm trying to make the next year my last as a machinist!
@Grant.Cardonee Yes, sir. How are things today? I've been learning investment real estate for the last 3 years. I am 43 and I am so excited for my future! The amount of wealth that I build will be unbelievable! When I saw your G700, I knew I wanted to purchase a G800 and travel the world!
Brilliant video !!✨✨
The cornerstone of Generational Wealth 🤑😇🌟✨
As a salaried person if the 30% Tax is already deducted before the payslip comes to me , the n how will we make Tax savings as you explained?
Wow that's a great idea 😂😂 super
❤❤❤❤❤❤❤Amen Amazing i am also watching from west Africa the Gambia 🇬🇲 i hope to work in the Real Estate marketing
Motivation keeps on coming
whats your opinion on companies like Boxable? the Casitas? im curious...since D.R. Horton America's Largest Homebuilder invested in that company.
Great Alpha!
just amazing
Obrigada
legendary Grant, thank you for this
Agreed! He is indeed legendary! 💯
Grant thank you for knowlege reduce tax bill makes sense
I’m far more interested in tax savings guidance than the real estate topics. Please talk about this topic more. Thanks!
Expenses (or write-offs) in one business (real estate holdings in this example) can not be offset from income earned in another. Am I missing something? If your earned income was from real estate then yes, but ball player, I don't think so.
You are correct. This “secret” he shares does not work. You can’t deduct passive losses to offset ordinary income. IRS is very clear about that if you are not a RE Professional
genius. i miss your content grant.
9:56 - Borrowed money has to be paid back. You gotta earn NEW money to pay back the loan you borrowed. This new money you earn will be Taxed. On top of that, you are paying Interest on the loan. Now you’re paying Taxes + Interest.
So how exactly are you paying $0 taxes??? Someone please clarify.
I own a rental property that is paid off. If I borrow let's say $100k from it at 9% current rate. Payment let's say is $1500 month. I got the 100k check deposited to me from the loan. I rent out that home for $1500 month. Rent = mortgage payment = no profit. But I got 100k deposit into my account. Paying 9% to the bank sure but better than the 20%+ to taxes. And now someone else is paying that debt down for me and I got the 100k cash to go do whatever want with.
@@JaydoggX1 Thank you. That works if the property is paid off. But what if the property is not paid off?
@76ers can still do it but not right away. Have to have equity in something to borrow against it. It's more so in business where it's making a lot of money. Instead paying taxes they are able to just keep investing it and show "zero" profit because it's being put back into business
So when you borrow the $40,000;000 , what does that cost you……if you borrow you pay interest right?
Grant is right if you qualify as a “full time real estate professional” per the irs which I believe is 750 hours or 30 days per year. That is tough to qualify for if you only have a few units. But you do get to carry all those into the future and recoup them one day
Yes what action can I take now !!!
Paying taxes is a good thing. I want to fund the National Health Service. I want to fund education. I want to support child support services. My dad has had prostrate cancer, Liver Cancer & a lumber puncture. He’s 86 & still alive (just) & it hasn’t cost him a thing. (Well bar his NHS contribution which is about £500 a year)
Absolutely Grant!
Thank you so much dear Grant CARDONE thanks to God to have you in our world !!!
Does it work worldwide or only in America?
Hey man can you show us in a futre video what you do for a living!
It's worth to mention you don't have to buy properties on your behalf but open an Inc. format business and buy properties in its name which you're the owner
Opening a holding company using Inc format you don't pay IRS because you receive the rent amount as dividends
💯
Seen the new movie you were in 😎
Hello Grant Cardone me encantan tus videos, pero no se mucho inglés puedes hacer tus videos con subtitulos en español sería muy genial please, quiero aprender más me encanta la manera que explicas he visto videos que te traducen tus palabras en español
My question is if I make 20k trading monthly, and I push 12,000 of that to you, will the capital fund be enough for me to avoid taxes on the quarter/year. The k1 is the number one thing imo being totally tax free or down to hundreds on the year instead of thousands
Another awesome content from the man!🚀
From 1.6m how you bought 4.8 m of real estate
If you take mortgage/loan, what the yearly payment whould be ?
This video is on his chanel two years ago
BE AWESOME LISTEN CLOSELY TO EVERYTHING GC SAYS
free game Grant🙏🏾
10:12 (rich) “don’t buy watches and houses with it, they buy real property”. Are you talking about primary residence vs investment homes?
Love folks giving out free, real info. Your elected non-representatives will never do that.
The maths is not adding up for me 3% of $38.4m it's not giving me $100+ m.
3% is 0.03 for 10 years it is multiplied by 10 which gives 0.3
So 0.3x $38.4m will give $11m.
When added to the capital gives a worth of $49million.
Pls correct me if I am wrong or am I missing something
It’s like what would I do when I was twenty. I would do that.
thank you grant
Show me how? Make me a clear example of a salaried employee. Buying real estate with earned income zeroes out the tax on the said income? How?
I am fighting for my freedom.
In that drive he spent more on gasoline then i spend a year paying for electricity on my Tesla.😂😂😂
That Mercedes can last 300k miles. Your new tesla will be broken in less than 20k miles. You only think 🤔 your saving money 💵 until you need parts and batteries 🔋
What do you mean 4.8mil wil buy me 2.4mil worth of depreciation?
I thought you could depreciate real estate over 39 years for commercial or 27.5 for residential? Please clarify
Yes, you can. 27.5 for residential rental property and 39 for commercial.
@@johnlyn1 ok so his numbers don’t add up to me. How does it work?
@@jimmyac5738 Are you referring to his numbers where he said you can take $2.4 million in depreciation on a $4.8 million property? He said his numbers based on a $4.8 million investment property is based on an actual deal he is currently doing. He also said the depreciation of $2.4 million he is using is based on taking the accelerated depreciation vs the depreciation over 27.5 years where it gets spread out evenly over the life of the property.
Cost segregation will allow accelerated depreciation all in one year.
The Richest Man in Babylon: don’t feel sorry for yourself because anybody can get wealthy and it’s a mechanical process.
The 10X Rule: Get off your bottom and put a dent in it. You’ve got a lot to do and it won’t do itself.
This video: Here’s one of thousands of tips.
So many exceptions made here to make this pitch seem exciting. 1. Accelerated deprecation is being phased out and is 60% for 2024. 0% by 2027. #2 you can only accelerate less than 20 year use life assets.
So in the first example agent- and manager fees are non tax deductible, but in the second example suddenly they are? I call this BS
I keep trying to convince my father of this. He has about $7M in property commercial and realestate. Its all paid off. Pays taxes on the rent every year. Keep trying to tell him to borrow just 20% even and use rent income to pay the loan.. migjt be paying 9% on loans but better than 25% in taxes.. he doesnt get it
But... the IRS requires you to depreciate real estate over 27.5 years.... so its not like you can depreciate 100% of the purchase price in year one??
I reduced my tax but the banks wont give me a mortage because i look like i have no profits. How can i buy a house?
Ola obrigado pela lição de matemática Já na escola gostava muito e assim vou aprendendo mais 😊😊😊😊🎉🎉🎉🎉🎉💯💢💥💫
É para ver que eu continuo a segui lo 🤗🤭🤭💯
Do u want or no can I know you said September but this month is what can I know
talent pays investing😮😅
Why don't you add in property tax? If the property value increases so the property tax increases.
Sorry not following. If I got a certain amount income and buy a property, the property cost or value is not tax deductable. What am I missing?Oh I got it. Through depreciation but how come you can buy a property at 1.6m and calculate depreciation for 4.8m. That's not how it works is it?
If you're making big money (like $2 million), the trick is to slash your taxes to zero. How? Invest in real estate, skip the fancy spending, and let your money grow.
Я одержим и не готов жить как все!
Isn’t this a re-upload?
I don't understand. If you are Rapper, Ball Player, Comedian -- your income is either a Non-Passive K1 or a W2. How does the depreciation of the real estate (passive) offset the non-passive income?
Agree. I think you need real estate professional designation (maybe viable) or via short term rentals to depreciate against ordinary income. Please let me know if I’m mistaken.
@@echin01 you need REP status or get your spouse to be a rep - maybe that’s why a lot of athletes wive’s are “real estate” brokers
I wouldn't mind paying taxes so much if I agreed with any of the ways that the government spends my money.