Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
My husband is a veteran and through "means testing" he is now able to receive all his medications (he's on several) and care without any copays, which would really help us out. I am a nurse who is now looking at getting back to work after almost 10 years of disability, so right now we are dependent on our SS benefits, plus a monthly benefit from a disability policy that I purchased back in my 20's which has lifetime benefits. We are debt free (praise God) and we are not "spend thrifts". Until I get back to work (part-time) and so not to affect his "means testing" status, we are having to give our son the rental house we have (was my husband's before we married); he has been paying rent, enough to cover property taxes, insurance, and repairs. I saw one of your videos which I took as having to pay a 55% gift tax if we simply changed the deed on this home to our son's name. Which is our best strategy as we do not want to get into our retirement (I'm 66 and my husband never contributed to a retirement until we married, so it's only about $35K) accounts. We have total assets of about $500K. We have about $20K in an emergency acct. which we use sparingly. Thank you and God bless what you do to help us be good stewards of God's money.
Dave, please call the estate tax what it really is estate confiscation or better yet death theft. Also I believe all people receiving gift money or an inheritance should be treated as 501c4 organizations at least if it is within a family but hopefully beyond as well. Also watch out for state inheritance confiscation and gift confiscation.
Estate tax is EASILY avoided with trusts. It's so easy to hire a lawyer and make sure he properly sets up the trust so that when you die, everything goes to him within the trust. Trusts also avoid probate court most of the time. I have no idea why I never have heard Dave talk about this.
Brian M You got the Their* correct but you used the wrong Allowed* I fully agree with ya tho, gift tax to family does not make any sense to me whatsoever
@@T25de when challanging someone's grammar or punctuation the challenger must ensure their English is infact 100% flawless. While ya and tho works well in the 'hood', in no way is it a acceptable durring times of proper grammar 🙂..now please excuse me as I catch my breath from my long winded reply 🤣
The problem is this money was already taxed. You pay taxes on it yet if you want to help someone and gift it to them, you have to pay taxes a second time. Why?
@@ukrd94 Society has decided that enormous multi-generational wealth is not good for society as a general rule. Without death taxes at the very top, a permanent aristocracy is likely to emerge over time. You can certainly argue about whether that's a good thing or not, and at what level there should be an exemption, but that's where we are. Interestingly, in April 2015, Republicans in the house of representatives, and even a few democrats voted to repeal the federal death tax. But as usual, it didn't go anywhere because all governments, at all levels, find it hard to give up tax revenue.
We are so far out of control in this country, that we could possibly be taxed for giving a gift. We are so out of control it is unbelievable… Who can wage war against the beast???
Because people try to cheat the system. Like, nobody would buy expensive cars or houses if there were no gift tax. Everyone would just get free houses and Lamborghinis as a gift, and then turn around and give the not-salesman like $200k as a gift as a sign of appreciation. No sale took place to charge sales tax, they just gave each other gifts. And nobody would earn any income to pay income tax. Everyone would find a business and help them out for free for 8 hours a day, and then their not-boss would just happen to give them a few thousand dollars every month as a gift.
@@RRR20238 My understanding is, you have a lifetime amount you are allowed to gift, $11.5 Million for single, $23.5 million or whatever Dave said for couples, once you surpass that 11.5/23.5m in gifts then any future gifts above the $15k get taxed.
Paul Sheeley nope. You are allowed to gift a person 15k per year tax free, and this amount renews every year. 11.58m lifetime exemption (23.16m for married couple) is what a person can pass to his/her heirs without them paying estate tax. Anything above that is taxed at 40%. A person may give some of his wealth to his heirs tax free while still being alive (in excess of $15k per year), but this sum will be deducted from the 11.58m. By the way 11.58m (inflation adjusted) tax exemption expires in 2025, and then it will be back to 5 million, if the new government won’t renew it. Or it might be cancelled even earlier if communists win elections.
What a problem to have....Here I had to pay for my dads funeral and clean out his apartment after dying from a heart attack from Fentanyl. I was 40 and the oldest out of 4. Mother's dead too from cancer 4 years earlier. What a wonderful system we live in.
It's actually pretty simple, it's all business expenses, total write off. It's much more complicated for the people he gives stuff to. I bet he gets audited every year though.
Do I understand correctly - 23 million is exempt? I do not think anything is exempt in Canada but we can gift as much as we want to our children while we are alive.
I have rich parents and I’m a person who hates to accept money as I like to work for all of my things. However, when they plead for me to accept $20k because they don’t know what to do with all their money then I just have to say yes!
Just buy the kid a reasonably priced property. Its family. He seems to be a great kid. You have the money. He is taking care of your daughter. What is there to think about? The power to chance someone's life should be used. You could even buy the property yourself and rent it to him for a dollar a month.
@@Simon-oy7kf SON-IN-LAW ! DID YOU NOT EITHER READ OR LISTEN TO THE STORY? THE HEADLINE CLEARLY STATES SON- IN -LAW. IT'S LITERALLY THE VIDEO TITLE STARING YOU IN THE FACE THE ENTIRE LENGTH OF THE VIDEO. THE CALLER THEN GOES ON TO SAY HIS DAUGHTER AND SON-IN- LAW. I CAN'T BELIEVE SOMEONE ACTUALLY LIKED YOUR COMMENT. YES I'M TYPING IN CAPS BECAUSE THE MADNESS TAKES OVER FROM READING STUPID COMMENTS.
@@Schmexy Oh I get it. Since he gave to people he loves and that person actually has a plan to make money that is bad. He should only give to people that plan to blow the money on drugs and tattoos. Got it (eye roll).
i dont understand why people mind paying taxes , i dont mind paying taxes as long as i know the government good with it , for example health care if i dint have the health care the government i would have been dead years ago . i forgot to mention i am Canadian living in Canada
Caller: I want to gift some money to my kids Dave: Only give them a small amount for them to get something nice at the Dollar Store every now and then.
Looking to crowdfund from family for opening a business, and it's confusing on how to go about this...would it be taxable?Do I need to mention this crownfund on my taxes? Would I have to put the money into the business's bank account? Appreciate any insight you can give.
dog guy im not giving my kids jack. They can become millionaires on their own by following the spend less than you make and save for a rainy day method.
@@insideoutsideupsidedown2218 ok cool, i dont see how this pertains to my comment but also a tip, Dave has great advice for personal finance, but regarding investment and wealth growth he is not the best
dog guy personal finance IS investment wealth and growth. Dave has a method that has worked for millions of people, i would not discount it. I was just responding to you saying give it to them in cash. I would not. Kids can work hard like the rest of us had to so they have a sense of worth and value their money and the time it took to earn it.
Listening to this conversation felt like listening to politics. Two very smart guys having a conversation I know nothing about 😅 trying to listen and understand, but have to admit I'm completely lost
i have rich inlaws who give my wife and me money. i didn't realize the limit had been changed to 60k until that became the check we got for Hanukkah. it's an absurd amount of money, especially since we already have a net worth of a millon dollars and make 140k/yr.
You’re lying because the gift tax exclusion is still 15k. He said 60 because he has two children and his wife also gets 15 each. U just tryna get likes with weirdly specific financial situations and using the term flex.
@@sean3533 we get $30,000 each (we used to get $15,000) -- though it's possible we're all bending the rules now that the IRS is a hollowed-out shell of what it used to be and (now that america is great again) just goes after minorities and poor people who fail to file. i'm not the one who actually does our taxes.
I’m surprised that people worth 10-20M call a show for advice instead of sitting with a professional advisor so they can talk about it for more than just 5min.
100% agree. Speaking from a spoiled country club kid who wished I had NEVER been showered with money. Abandoned father + unlimited money = grossly dysfunctional having to learn how to live correctly me...
More BS then property tax or income tax or capital gains tax? Those taxes all penalize being a productive member of society. A gift tax just penalizes people who didn't do anything to earn their money. Along with inheritance tax, least evil tax we have.
He's buying real-estate. When the IRS sees you have a million dollar building and over your lifetime you have only paid tax on 358 thousand dollars, they will come for you.
The estate tax exemption could go down if democrats take over congress and the presidency, so I would agree not to use any of the estate tax exemption.
By handing your kids money whenever you want in whatever amount that you want. And remembering to keep the government t/f out of your business that is none of theirs. You're welcome. 😂
This show is for everyone. Just because he made the right choices doesn’t mean he can’t call for advice. You have hundreds of struggler videos to watch.
Mr. Wick my father was a honest but poor man. He was a true Christian. I don't believe in God and I am millionaire. I make money of other people's debt. Long live America. My father would have called that tax evasion. Christians nowadays cheat the government. Lol. The real god is money and we are all chasing it.
magiesq paying fair taxes helps other in society that needs help. But if you don't pay your fair share, you are shorting others. It's very anti Christian but Christians do it all the time. lol
Get life-changing financial advice anytime, anywhere. Subscribe today: th-cam.com/users/TheDaveRamseyShow
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
GOALS: be worth $10M- $20M and gift $60k/ year to my kids like it’s chump change.
Mark Prowatzke thanks! You are too my friend!
you can say that again!
Caller: gifting kids $60,000/year
Me: was gifted a tie & socks for Christmas
Barry Boppins 😂🦆
@Barry Boppins right, lol we over here getting zip!!
Had same reaction. More than half of Americans barely make $60k/year.
Steve Ram hahahahahahaha!!! So true.
@Ordinary Sessel Can u often time choose a parent?
Why should a kid pay taxes on monies that his father already paid taxes on?
Because thieves with no fear of reprisals rob you as often as possible.
@@TheWaggishAmerican nailed it.
Captain underpants Because we live in a society.
Money isn’t taxed, transactions are.
@@467076 Spoken like someone who has no assets.
“Because you’re 62 and still so young”
I needed to hear that
Its isnt true, but nice to hear, i guess
messyties I still think it’s young. Most people in my family live until 90s the oldest hitting 103.
Lol
My husband is a veteran and through "means testing" he is now able to receive all his medications (he's on several) and care without any copays, which would really help us out. I am a nurse who is now looking at getting back to work after almost 10 years of disability, so right now we are dependent on our SS benefits, plus a monthly benefit from a disability policy that I purchased back in my 20's which has lifetime benefits. We are debt free (praise God) and we are not "spend thrifts". Until I get back to work (part-time) and so not to affect his "means testing" status, we are having to give our son the rental house we have (was my husband's before we married); he has been paying rent, enough to cover property taxes, insurance, and repairs. I saw one of your videos which I took as having to pay a 55% gift tax if we simply changed the deed on this home to our son's name. Which is our best strategy as we do not want to get into our retirement (I'm 66 and my husband never contributed to a retirement until we married, so it's only about $35K) accounts. We have total assets of about $500K. We have about $20K in an emergency acct. which we use sparingly. Thank you and God bless what you do to help us be good stewards of God's money.
Dave, please call the estate tax what it really is estate confiscation or better yet death theft. Also I believe all people receiving gift money or an inheritance should be treated as 501c4 organizations at least if it is within a family but hopefully beyond as well. Also watch out for state inheritance confiscation and gift confiscation.
Estate tax is EASILY avoided with trusts. It's so easy to hire a lawyer and make sure he properly sets up the trust so that when you die, everything goes to him within the trust.
Trusts also avoid probate court most of the time. I have no idea why I never have heard Dave talk about this.
Was thinking the same thing
Caller tomorrow: “My dad gifted me $300k for my business and I bought 5 brand new BMW’s.”
lol
Correction: You just bought 5 "Money Pits"! Scotty Kilmer
how stupid...a parent should be aloud to give their children what ever they please with zero tax ..its after tax money !
Brian M
You got the Their* correct but you used the wrong Allowed*
I fully agree with ya tho, gift tax to family does not make any sense to me whatsoever
@@T25de when challanging someone's grammar or punctuation the challenger must ensure their English is infact 100% flawless. While ya and tho works well in the 'hood', in no way is it a acceptable durring times of proper grammar 🙂..now please excuse me as I catch my breath from my long winded reply 🤣
Brian M
Not tru
@@T25de I should be laughing but I just can't seem to muster up the energy
Brian M
No u
Does he have another daughter who's single???
Don’t we all wish we were sitting around with this problem 😐🤷🏻♂️😁🤣
you do it under the table 🤫
if the IRS is watching..
my comment is for entertainment purposes only 🤓
Think Money IRS is watching you
Cherry Tung - Finance & Fashion I got a reply from Cherry! I’ve seen your vids before, i Like your channel!
And i liked the comment just for entertainment purposes
the point is to report it so they can write off on taxes
A pallet of cash 💰
The good news is that since the lifetime exemption is so high, checking for gifts is a low priority for the IRS
Does he have another daughter I could marry?
Yes! A Nigerian princess
@muttr Sold! When do we marry??
Lmfaoooo
We need to get Dave on the Joe Rogan Podcast!
Imagine joe smoking a joint with dave ramsey
or the ripper magoos podcast
True that would dope
THIS NEEDS TO HAPPEN ASAP!!!
Oh my gosh such a great idea!!!
I wishes I have that kind of problem!
Don't forget NY taxes Estates as well. 16% on that over $10M, graduated down to $500K.
1%'r problems, I know.
The problem is this money was already taxed. You pay taxes on it yet if you want to help someone and gift it to them, you have to pay taxes a second time. Why?
@@ukrd94 Society has decided that enormous multi-generational wealth is not good for society as a general rule. Without death taxes at the very top, a permanent aristocracy is likely to emerge over time. You can certainly argue about whether that's a good thing or not, and at what level there should be an exemption, but that's where we are. Interestingly, in April 2015, Republicans in the house of representatives, and even a few democrats voted to repeal the federal death tax. But as usual, it didn't go anywhere because all governments, at all levels, find it hard to give up tax revenue.
@@stuartclubb4302
Either people want capitalism or they don't.
Can't have everything.
We are so far out of control in this country, that we could possibly be taxed for giving a gift. We are so out of control it is unbelievable… Who can wage war against the beast???
No one. The beast is independent of the people.
glorymanheretosleep - That’s definitely an interesting thought provoking response...
Because people try to cheat the system. Like, nobody would buy expensive cars or houses if there were no gift tax. Everyone would just get free houses and Lamborghinis as a gift, and then turn around and give the not-salesman like $200k as a gift as a sign of appreciation. No sale took place to charge sales tax, they just gave each other gifts. And nobody would earn any income to pay income tax. Everyone would find a business and help them out for free for 8 hours a day, and then their not-boss would just happen to give them a few thousand dollars every month as a gift.
NeededGR13F - Feel the Burn(ie). Always nice to have an IRS agent socialist come in and say it’s the people who are the enemy of the state…
LazicStefan - lol
i thought that gift tax was $15k exempt per year?
He gifts 15k to his daughter and 15k to his son-in-law. Then his wife does the same thing. Equals 60k all together
@@RRR20238 My understanding is, you have a lifetime amount you are allowed to gift, $11.5 Million for single, $23.5 million or whatever Dave said for couples, once you surpass that 11.5/23.5m in gifts then any future gifts above the $15k get taxed.
Paul Sheeley nope. You are allowed to gift a person 15k per year tax free, and this amount renews every year.
11.58m lifetime exemption (23.16m for married couple) is what a person can pass to his/her heirs without them paying estate tax. Anything above that is taxed at 40%.
A person may give some of his wealth to his heirs tax free while still being alive (in excess of $15k per year), but this sum will be deducted from the 11.58m.
By the way 11.58m (inflation adjusted) tax exemption expires in 2025, and then it will be back to 5 million, if the new government won’t renew it. Or it might be cancelled even earlier if communists win elections.
RRR Thank you for explaining! 😊
What a problem to have....Here I had to pay for my dads funeral and clean out his apartment after dying from a heart attack from Fentanyl. I was 40 and the oldest out of 4. Mother's dead too from cancer 4 years earlier. What a wonderful system we live in.
Sorry about that, my mom died of cancer at my sister's house, I didn't make it out there in time to see her. Wish you well.
Imagine being this rich but calling Dave Ramsey instead of paying an estate planner. Now that is cheap.
JoelJoel321 I lol’ed at this. Underrated comment!
imagine not paying attention and hearing when the guy said he already has a pro estate planner
Imagine being ignorant enough to call him cheap
@@mattbopp6006 Please elaborate
Imagine how complicated Mr. Beast Tax is!
It's actually pretty simple, it's all business expenses, total write off.
It's much more complicated for the people he gives stuff to.
I bet he gets audited every year though.
I wish this was my dad 😂
considering my dad abandoned me, he basically is... he is the closest thing I’ve got to a father... Never been given better advice from anyone else...
@@johnh4058 He wasn't worth having around.
Bet your dad wishes it was him too
🤣🤣
You can be this parent for your children. Start a legacy.
Do I understand correctly - 23 million is exempt? I do not think anything is exempt in Canada but we can gift as much as we want to our children while we are alive.
Net worth between 10 and 20 million at 62 years old?? Bravo!! Plus, he isn’t selfish.
You don't get 10 million by not being selfish.
I have rich parents and I’m a person who hates to accept money as I like to work for all of my things. However, when they plead for me to accept $20k because they don’t know what to do with all their money then I just have to say yes!
Give it to me! I’ll take it $creatingcreativity
Bruh he didn't reply
Here for my daily dose of "Dave-sell the car-Ramsey".
Lol
On that informal loan , do I need to input an interest rate , or no ? And does the child actually pay me the interest ?
October 2020. Thank you Dave Ramsey, God bless you and all at Ramsey Solutions. From central Virginia.
When you're so rich that you are tax limited to how much you can give.
I wish I had these kind off stresses in my life
I want these kind of problems 👑
Well get to work sweet heart.
He has done phenomenal!
Just buy the kid a reasonably priced property. Its family. He seems to be a great kid. You have the money. He is taking care of your daughter. What is there to think about? The power to chance someone's life should be used.
You could even buy the property yourself and rent it to him for a dollar a month.
Why would his son take care of his daughter?
@@Simon-oy7kf SON-IN-LAW !
DID YOU NOT EITHER READ OR LISTEN TO THE STORY? THE HEADLINE CLEARLY STATES SON- IN -LAW.
IT'S LITERALLY THE VIDEO TITLE STARING YOU IN THE FACE THE ENTIRE LENGTH OF THE VIDEO. THE CALLER THEN GOES ON TO SAY HIS DAUGHTER AND SON-IN- LAW. I CAN'T BELIEVE SOMEONE ACTUALLY LIKED YOUR COMMENT. YES I'M TYPING IN CAPS BECAUSE THE MADNESS TAKES OVER FROM READING STUPID COMMENTS.
Gary has some real 1% problems. Love how he's so concerned on the tax dodge. Real stress in his voice. Must be nice.
Thats likely part of the reason he is rich in the first place. Being stingy with your money, even when it might not seem like a lot, adds up over time
@@GamingShmoe Giving away $60k a year is stingy? Can I roll with your crowd?
JW JW he’s investing in his son’s endeavors
@@Schmexy Oh I get it. Since he gave to people he loves and that person actually has a plan to make money that is bad. He should only give to people that plan to blow the money on drugs and tattoos. Got it (eye roll).
Datcray Investor absolutely nothing wrong with being stingy about taxes.
i dont understand why people mind paying taxes , i dont mind paying taxes as long as i know the government good with it , for example health care if i dint have the health care the government i would have been dead years ago . i forgot to mention i am Canadian living in Canada
Can I gift the maximum amount for that tax year to a friend for their life span with out reporting it to the IRS?
On the unified estate tax, does the gifting party have to report and the receiving party doesn't? or do both have to report the gift???
Caller: I want to gift some money to my kids
Dave: Only give them a small amount for them to get something nice at the Dollar Store every now and then.
Looking to crowdfund from family for opening a business, and it's confusing on how to go about this...would it be taxable?Do I need to mention this crownfund on my taxes? Would I have to put the money into the business's bank account? Appreciate any insight you can give.
Okay, so for 2022, if the gift is 16k and under I should be fine to use the money as I please (on the business) is what I'm understanding...
Easiest way is to give it to them in cash and dont tell the irs
300k in cash? Um that will draw attention
@@HarmlessX works for the cartels
dog guy im not giving my kids jack. They can become millionaires on their own by following the spend less than you make and save for a rainy day method.
@@insideoutsideupsidedown2218 ok cool, i dont see how this pertains to my comment but also a tip, Dave has great advice for personal finance, but regarding investment and wealth growth he is not the best
dog guy personal finance IS investment wealth and growth. Dave has a method that has worked for millions of people, i would not discount it. I was just responding to you saying give it to them in cash. I would not. Kids can work hard like the rest of us had to so they have a sense of worth and value their money and the time it took to earn it.
Easy give them cash and dont deposit to banks buy a safe and stash it.
Or gold
I think the question went over your head
So you're saying he should commit tax fraud in order to avoid $0 in taxes?
@@kericlapboards7737 staching money on you're personal safe its NOT illegal its totally legal bud.
Can give a gift the the same persons every for the next 20 years if I stay below the maximum for each year?
Do you have any videos that help people that aren't already rich or making 6 figures?
1:32 Ramsey asked a yes or no question. He was so pressed to tell us his net worth 😂
Hand it to them.
Great video!
Gift tax is evil
"So, I says, blue M&M, red M&M, they all wind up the same color in the end"
Can I give a money gift to the IRS annual maximum amount every year to the same person?
Just take cash out of the bank and stuff it in old suitcases and sneak it through the kitchen back door! nobody would know!
Anyone know if this guy is looking for more kids?
Most difficult problem I've ever heard😀😀😀
Listening to this conversation felt like listening to politics. Two very smart guys having a conversation I know nothing about 😅 trying to listen and understand, but have to admit I'm completely lost
Is there a limit on the loan?
Cant just do a "loan" or just foreign bank accounts.
Hand them cash. Done
60k a year....
Give them cash and don't tell the whole internet about it!
All I have is a dollar and a dream, yet here I am watching estate planning videos. 😑
Where can I get these parents?
Punk
There's no gift tax
i have rich inlaws who give my wife and me money. i didn't realize the limit had been changed to 60k until that became the check we got for Hanukkah. it's an absurd amount of money, especially since we already have a net worth of a millon dollars and make 140k/yr.
Gus Mueller Wow! That’s a nice surprise for sure! Keep saving, you guys are doing great! 😊
You’re lying because the gift tax exclusion is still 15k. He said 60 because he has two children and his wife also gets 15 each.
U just tryna get likes with weirdly specific financial situations and using the term flex.
@@sean3533 we get $30,000 each (we used to get $15,000) -- though it's possible we're all bending the rules now that the IRS is a hollowed-out shell of what it used to be and (now that america is great again) just goes after minorities and poor people who fail to file. i'm not the one who actually does our taxes.
I can’t wait to have this problem. 350k in the bank and counting. Let’s go!!!!
I’m surprised that people worth 10-20M call a show for advice instead of sitting with a professional advisor so they can talk about it for more than just 5min.
If you have plenty of money, you would think he would know how to gift money to your kids
the point is to be able to write off on taxes
The son in law repair instruments business is doing great....well, he receives $60K a year. Anybody will do good with that blessing.
To be fair he could be making 220 thousand a year or something.
He might just want the money to expand faster.
Type of problems I want to have in my life
Step 1 of 1
Don't tell the whole internet about it on TH-cam
Gary got another daughter for me to marry or want to adopt me 😂
Don’t give them cash. Help them start businesses and teach them how to grow. Cash does nothing for them. Teach them how to manage and invest properly.
Teach them to fish.
Kieran Mullen I like that saying
Datcray Investor very true. With internet/social media type of businesses. All you need now is a computer and camera👍🏻 everything is very accessible.
100% agree. Speaking from a spoiled country club kid who wished I had NEVER been showered with money. Abandoned father + unlimited money = grossly dysfunctional having to learn how to live correctly me...
@@johnh4058 Well hopefully you can learn something from my channel(=
i've never disliked my own father in law so much after watching this lol
Gift tax. What a bunch of BS
More BS then property tax or income tax or capital gains tax?
Those taxes all penalize being a productive member of society.
A gift tax just penalizes people who didn't do anything to earn their money.
Along with inheritance tax, least evil tax we have.
Cash
He's buying real-estate.
When the IRS sees you have a million dollar building and over your lifetime you have only paid tax on 358 thousand dollars, they will come for you.
The estate tax exemption could go down if democrats take over congress and the presidency, so I would agree not to use any of the estate tax exemption.
Gary you forgot about me
By handing your kids money whenever you want in whatever amount that you want. And remembering to keep the government t/f out of your business that is none of theirs.
You're welcome. 😂
Haha, it's not so hard to have a "succesful" buisjes when daddy gives you 60 grand a year
Simon48 your jealously is showing.
Still need clients to have a successful business
Yes, it absolutely is
@@dete503 Everybody shitting on rich people isn't necessarily jealous.
@@kkknotcool then what is it? There's nothing wrong with being successful.
Lucky kids
Nice problem to have!
i would like to have those problems lol.
And the rich get richer, no hate just saying
10 million dollars..you are too rich to be calling into a show meant for us strugglers.
This show is for everyone. Just because he made the right choices doesn’t mean he can’t call for advice. You have hundreds of struggler videos to watch.
Our founders would be buying rope by the mile if they were around today...
It's always been the way, rich people back then made the laws and are the same as today
99 Sparkles the 15 grand he gives to his kids he already paid around 45% effective tax rate on it.
They prolly buy an iPhone first my bro
Can you just give me 1 million for god sake
My name temnawo berhane
I do not have a way to both make lots of profit and not pay any taxes so I can’t tell you. 😉 😉
Idc If this dude daughter is 400lbs I want in
More coushin for the pushin
This my post ofeies
I have 20 million.. pennies );
Cold hard cash.
lose
cycle
date
coma
steward
3rd!
I wonder what the daughter looks like for them to want to keep the beau happy?? 😉
Your comment wins the internet 🤣🤣
Lol plus “fixing and selling musical instruments” the dude has a guitar shop come on!
Loopholes for the wealthy. Love it. Long live America. Take from the poor and keep it for yourself. This guy is corporate greed.
Mr. Wick no I'm learning loopholes. I'm a millionaire. My parent were not but I am. Got to learn from the best.
Mr. Wick my father was a honest but poor man. He was a true Christian. I don't believe in God and I am millionaire. I make money of other people's debt. Long live America. My father would have called that tax evasion. Christians nowadays cheat the government. Lol. The real god is money and we are all chasing it.
I'll agree with you the minute everyone is taxed proportionally (fairly) regardless of their income.
magiesq paying fair taxes helps other in society that needs help. But if you don't pay your fair share, you are shorting others. It's very anti Christian but Christians do it all the time. lol
The rules are written for everyone not just wealthy. Everyone has the opportunity to utilize them if they have the literacy
Pay your taxes you drive on paved roads with a sewer system don’t you
That's not where the money is going.
Property taxes easily pay for that stuff.
Federal taxes are for paying bureaucrats and welfare.