No thank you Now that Clients know Estate Planners use easy to forge legal documents, we will hire Administration Lawyers with NICER Forgery Proof Permission Ledger Documents.
Agree, i have researched endlessly and used Turbo tax to guide me. This was great. IRS need to bone up also. Perhaps they really too much on software as i do.
Yup, said another way - if you make your money from owning things, you pay a lower percentage of your gains, but if you make your money from working - sweat of the brow - you pay a higher percentage. I wonder whether owners of property or workers made these rules?
We bought a vacant lot to build a home but ended up selling it and bought another one. The sale came after we had bought the other one. We sold it for 19000 and bought the other one for 45000. That’s the deal with capital gains on this. Thanks.
Thanks for being honest, for years and years I was making pretty low income of 30k . My buddy used to tell me in this area its poverty level about and he arrogantly would say I don't pay hardly anything into the tax system like he did, making $100k plus. I always paid my taxes , declared every penny and always was paying big money into the tax system for Social Security , etc, and whatever amount my accountant told me to mail in since I was self -employed.
Great info. Great presentation. Good voice for listening to you. Suggestion - only use white chalk. Colored chalk does not show up. Keep up the good vids.
I think mentioning wash sales in relation to capital losses is important. In your example with Bitcoin, when you sell at a loss and then buy the same or similar security within a certain time frame, you can no longer claim capital loss.
That's exactly right. And sometimes those securities can go up significantly in value while you wait and then you feel like you don't have an entry point anymore
@@Smouse168 I noticed that supposed misspelling also; however, play the video back at that point in slow motion and you'll find he writes his actual "o" a certain way, and the following supposed "o" like most people write an "a". All this just for what it's worth.
Thank you, just found this. So happy to have come across. Never had a way to explain this or show to folks who rail against billionaires & corporations. Not to mention this might help someone I know.
Thank you for your easy to understand explanations on so many areas like estate and tax planning etc. I like that you speak clearly, no stammering, or using a ton of fill words like um, uhh, and a....because you obviously know exactly what you're talking about and dont mince words. Ive been watching all your vids lately, as I've been working 35 years saving money and building a nest egg this entire time, but dont have a trust or a will or nothing, so i def need to do something.
Good overview for novice tax people. Personally I like to build losses through high dividend securities because their value goes down based on the amout they payout, thus not a true loss of capital. Then use them to offset gains in something I feel has lost its growth potential.
Your best video yet! Sometimes your videos are too long. Keep them around 10 minutes. If people need extra long explanations and examples, they are likely used to senseless TikTok videos and they will not watch a long video. Your target audience, in my humble opinion, are the up-and-coming or small to medium business owners that are trying to learn and develop simple business strategies.
My understanding is that if you sell a stock at a loss and buy it right back (as you suggested) you can't take it as a tax loss. By not waiting 30 days, you have created what is known as a wash sale
I bought a brand new house & lived in it for 20 yrs. When I sold it I was charged $150,000 Capital Gains when I had my taxes prepared & they wanted to be paid the entire amount that day or they were going to charge interest right away!! We’ve been paying on downfor 3yrs. now!
Most articles on retirement income fail to mention 0% interest on Qualified Dividends and Long Term Capital gains We am far from rich, but we make more net income in retirement than we did working. Over 1/2 of our income is from Qualified Dividends at 0%. Our effective tax rate on $120,000 last year was 3.5%. One must be careful to stay under the taxable income limit if you want 0%. Borrowing against equities could be a great alternative to Reverse Mortgages and Annuities, neither of which is attractive to me.
Good video. It might be a good idea to concentrate on dividends, because the preferential rates only kick-in for "qualified" dividends. Even though IBM pays "dividends" out of accumulated earnings and profits, the taxpayer needs to meet a specific holding period. There are also dividends paid by non-taxable entities like REITS, which are taxed at ordinary rates. There are also passive and publicly-traded Master Limited Partnerships. The distributions are generally not taxed, but they are subject to loss limitations, where the K-1 losses accumulated and are recognized upon disposal.
The holding period is only 60 days before or after to make them qualified Not an issue with me long time holdings Lol ibm a great one Also have REITS so I do have some ordinary, but some of those are return of capital with zero tax MLP are a pain in ass , sold my IEP Icahn holdings just to avoid schedule K not coming till late march. Same thing with royalty trust simply a pain in the ass passive income schedule E nonsense Don’t want deal with them, I’ll stick with regular dividends,,if that costs me few hundred a year so be it.
Great video. The best by far is dividend income. When married and filing jointly you pay zero tax on close to 90K in dividends. It's almost like having a Roth account
Easy to understand TME. Why aren't they teaching this in high schools across America? I am from Vancouver, Canada and would certainly love to see this taught in here in our country. L&S.
THANK YOU!! This is an amazing channel!!! I have learned so much in a small amount of time and know so many more grey areas exist but you chose to really sun up the main points! ❤️🥂
@@TobyMathis Love your video! I am confused when it comes to Capital Gains. I only use Uphold and i trade within Uphold. Bitcoin for XRP, Etherium to XLM etc... I only cashed out $700 in 2023. However it says my capital gains are $626,500 and my Total Income is only $85.00. So on turbo tax it is saying I own over $200K in Taxes!! I am very confused. I only cashed out $700 total. All the rest were just trades i made within Uphold.
Amazing you spoke about the hybrid tax treatment for futures. Well done... Your free virtual event is aimed at real estate folks. You have anything for futures traders?
Thanks for the good advice. I think the proposal to sell Bitcoin at a 30% loss and then repurchase it would be hit with a wash-sale rule. You'd have to buy a different asset (like Etherium or stocks to make it work)
He’s misleading you. You can’t. You can offset with capital losses or never realize the gains. Bottom line, you pay zero capital gains tax only if you have zero capital gains. The borrowing part is to borrow against your portfolio to create liquidity instead of realizing capital gains to do it.
Short term gains are at the ordinary rate but long term gains may be taxed at 0% "if your taxable income is less than or equal to $40,400 for single or $80,800 for married filing jointly or qualifying widow(er)." Similar to qualified dividends.
@@antilogism Good point. I will add that your AGI will be increased by the amount of your capital gain thus causing your taxable income to increase as well. Taxable income is your AGI minus the standard deduction or itemized deductions.
One nice bonus in the tax rules, if you are in the 37% bracket with dividends at 20% rate but no cap gains, your $3k loss goes against the higher taxed income. If you had cap gains it would go against that but not dividends. Odd but will take it.
Great content! How can a real estate agent offset taxes? Could you please create a video? Also if I sell a property, how can I apply a 1031 to avoid capital gain? Could you please explain this? Thanks 🙏
I normally cringe in these types of videos and watch for entertainment. I have a Masters in Taxation from one of the top schools in the country and work in tax planning for a very large corporation. This video does of great job of simplifying some complex tops down to 13 minutes. Great job on the video!!
@vip47287 no, you will owe taxes on that income. More details would be needed to figure the tax on that income, but it would likely be at a 18.8% tax rate (15% cap gain rate plus 3.8% net investment income tax). This is only the federal tax and doesn’t include state taxes.
Learnt Tax in ten minutes. This is so very helpful as a guide to what I can do next. Brilliant thank you again. I’ve learned more in two of your videos than I knew in the last 20 years.
Two points: 1) SS is more than just a tax. If you are not paying that over your working life, you will not get SS when you retire. We can discuss it's ROI, but it is a bit misleading to say it is a tax. 2) You can't sell a crypto at a loss and buy it straight back to avoid taxes. The wash sale rule prevents that.
Thanks for great content on this! As a real estate investor and Realtor, I have felt like I still paid too much in taxes for 2021 from all the active income I generated. Subscribed!
hello, Have a six figure capital gain from the sale of a second home. Besides opportunity zones fund. How can I reduce my basis to lessen my tax burden?
We heard there is a federal law which may be ratified soon which required annual filing or person go to jail or pay $10,000. Or more. It was mentioned by a lawyer on TH-cam. Is this true? When will that go into affect? Please do a TH-cam video on this if it’s true, thank you!
Here at Anderson Business Advisors, we are always watching for new updates and changes in laws and reporting requirements. We typically do not change strategies until something has been completely implemented. In this situation, I am not sure what federal law you are referring to in regards to reporting requirements.
I love this channel! To add to this great video, for a dividend to generally be considered long term cap gain or “qualified”, each share of stock or etf must been held for more than a year (there are exceptions). If you hold it less, then it would generally be considered short term cap gain which is taxed as ordinary income. Some reits are never eligible for long term either. I could be wrong so anyone please let me know
Dividends have nothing to do with capital gains , just hold the stock for 60 days, it’s qualified for Most part (always rare exceptions) REIT s are rarely qualified for dividends, but when you sell they are qualified for long term capital gains
Thanks for the infor. But the heading is little misleading. There is not a legal to Not Pay taxes unless you dont make income, no income no tax. But if you make money, you do pay your fair share. All you have pointed out is taxes deferral, which, with proper tax planning, yes, can defer paying taxes, offset cap gain with cap loss, QOZ investment, 1031 exchange, accelerated depreciation, etc... these are ways to defer tax payments, but NOT not paying taxes. The legal way is giving away your income, such as charitable donations, gift money to your kids and family members to minimize the amount of estate, these are the examples where you reduce your income or net worth to an extent that your income or estate is below the taxable threshold, thus not paying taxes or paying less taxes. You may update your heading to be more precise. Thanks for sharing!
But I have never paid any taxes, since I dropped out of school. I have been on welfare all my life. White folks working for me. I goes fishing and drinking wine.
I have a friend who always managed to reduce his social security contributions. At retirement he’s getting half of what I get. The problem is, he needs it, and he just scrapes by with help from family. It’s better to focus on being good at what you do, the earnings grow automatically. And don’t spend, learn to invest conservatively. In the long run those who like to spend end up with nothing, and those who spend only what they have to, including social security, end up not being a burden and being able to help others.
I’m amazed at how many people opt to take early retirement. I understand those with health issues but I hear this I worked hard all my life so I’m quitting early so I can now work part time forever and live in borderline poverty during my retirement. Makes it really hard to feel sorry for them. And they think nothing about mooching from family members possibly keeping them from being able to set themselves up for retirement. We can all look at our family history and figure out what decade we will most likely be gone to the hereafter.
The most obvious is to make below a certain capital gains amount and then it is taxed at 0%. For USA Married Filing Jointly that number is $80k in 2022. Anything above that gets into 15-20% brackets. So just stay below that 0%-15% wall.
You can't take bonus depreciation on residential real estate in general. Also doing cost segregation studies is very costly and if you have a rental property that is only worth $200,000 it is not worth the cost especially because you are only deferring tax not avoiding it. So no, there are some cases where paying tax on rent is unavoidable or comes at unreasonable costs to avoid.
Thank you for pointing out the things that have to be changed so everyone pays the taxes that they should. Tax avoidance is a serious problem for our country that needs to end.
Hey, are you interested in diving deeper into this topic or chatting with an expert? Feel free to schedule a call here: aba.link/16b486
No thank you Now that Clients know Estate Planners use easy to forge legal documents, we will hire Administration Lawyers with NICER Forgery Proof Permission Ledger Documents.
Clueless...one pays tax on short term capital gains. Go back to skool kid.
S.c.w.muslim.child family said maxamed siciid cabdi business bank garoowe.acouint.nuber.130192.from.soomaliya l.b.s by nuber bank accounts form to
There's a reason why this video was watched over 800 000 times. Great job, Toby and thank you.
On stocks, there is a wash sale rule if you buy within 30 days before or after sale, loss will be disallowed.
not sure about this, I get taxed on dividends even when reinvesting
Tax loss harvesting , you need to wait 30 days to buy back the stock you sold to mark the loss.
@@vitolazlo5767 Correct. Otherwise the loss will increase the basis for the same stock you bought within 30 days
The most comprehensive, to-the-point, 13-min explanation of taxes I've seen in a while. Thank you, Toby. You've got a new fan and a subscriber!
🤣🤣🤣🤣🤣
Agree, i have researched endlessly and used Turbo tax to guide me. This was great. IRS need to bone up also. Perhaps they really too much on software as i do.
Thanks me too, my accountant didn't help me out at all and he was a friend.
Agreed!
The fact that nobody talks about the book whispers of manifestation on borlest speaks volumes about how people are stuck in a trance
Under 40k
Yup, said another way - if you make your money from owning things, you pay a lower percentage of your gains, but if you make your money from working - sweat of the brow - you pay a higher percentage. I wonder whether owners of property or workers made these rules?
We bought a vacant lot to build a home but ended up selling it and bought another one. The sale came after we had bought the other one. We sold it for 19000 and bought the other one for 45000. That’s the deal with capital gains on this. Thanks.
Thanks for being honest, for years and years I was making pretty low income of 30k . My buddy used to tell me in this area its poverty level about and he arrogantly would say I don't pay hardly anything into the tax system like he did, making $100k plus. I always paid my taxes , declared every penny and always was paying big money into the tax system for Social Security , etc, and whatever amount my accountant told me to mail in since I was self -employed.
straight to the point.. when people know their stuff they make big concepts into easy things to listen to
Great info. Great presentation. Good voice for listening to you. Suggestion - only use white chalk. Colored chalk does not show up.
Keep up the good vids.
I think mentioning wash sales in relation to capital losses is important. In your example with Bitcoin, when you sell at a loss and then buy the same or similar security within a certain time frame, you can no longer claim capital loss.
Yes, this is critical to understand, because overlooking this rule could be very expensive.
That's exactly right. And sometimes those securities can go up significantly in value while you wait and then you feel like you don't have an entry point anymore
This is why you don’t take financial advice from a TH-camr . I was out when he misspelled royalties
@@Smouse168 I noticed that supposed misspelling also; however, play the video back at that point in slow motion and you'll find he writes his actual "o" a certain way, and the following supposed "o" like most people write an "a". All this just for what it's worth.
Crypto is not subject to the wash sales loss rules. There are easy ways around the wash sale loss rules.
What an education, eyes wide open.👍👍👍👍👍
This is one of the best explanations on everything income in very simple terms
Thank you, just found this. So happy to have come across. Never had a way to explain this or show to folks who rail against billionaires & corporations. Not to mention this might help someone I know.
Love Futures! 60% LTCG and 40% STCG, easy tax reporting and not subject to wash sale rules!
Even better, Futures in a self-directed Roth -- no reporting, no wash sale, no PDT, no tax.
Thank you for your easy to understand explanations on so many areas like estate and tax planning etc. I like that you speak clearly, no stammering, or using a ton of fill words like um, uhh, and a....because you obviously know exactly what you're talking about and dont mince words. Ive been watching all your vids lately, as I've been working 35 years saving money and building a nest egg this entire time, but dont have a trust or a will or nothing, so i def need to do something.
Excellent advice already working!!!! specially for Real Estate and Stocks.
Good overview for novice tax people. Personally I like to build losses through high dividend securities because their value goes down based on the amout they payout, thus not a true loss of capital. Then use them to offset gains in something I feel has lost its growth potential.
Your best video yet! Sometimes your videos are too long. Keep them around 10 minutes. If people need extra long explanations and examples, they are likely used to senseless TikTok videos and they will not watch a long video. Your target audience, in my humble opinion, are the up-and-coming or small to medium business owners that are trying to learn and develop simple business strategies.
My understanding is that if you sell a stock at a loss and buy it right back (as you suggested) you can't take it as a tax loss. By not waiting 30 days, you have created what is known as a wash sale
You are correct.
I bought a brand new house & lived in it for 20 yrs. When I sold it I was charged $150,000 Capital Gains when I had my taxes prepared & they wanted to be paid the entire amount that day or they were going to charge interest right away!! We’ve been paying on downfor 3yrs. now!
Most articles on retirement income fail to mention 0% interest on Qualified Dividends and Long Term Capital gains We am far from rich, but we make more net income in retirement than we did working. Over 1/2 of our income is from Qualified Dividends at 0%. Our effective tax rate on $120,000 last year was 3.5%. One must be careful to stay under the taxable income limit if you want 0%.
Borrowing against equities could be a great alternative to Reverse Mortgages and Annuities, neither of which is attractive to me.
How do you get 0% on long term capital gains
@@zencalmfreeif you are single 0% is applied to taxable income of 44,625 in capital gains. 89,250 for married filling jointly
@@9thebigcool thank you!
Very well presented. Very informative.
If you sell a stock or bitcoin at a loss to do tax loss harvesting then you have to wait 30 days to buy it back otherwise it counts as a wash sale FYI
I believe it applies to stocks but not cryptos...yet
There is NO 30 day "wash rule" on BTC or any crypto.... yet.
Not inside a roth...
For bitcoin they'd like you to wait a day or two (take on risk)
Hot damn Mr Arthur, if this is true that's a great point amigo and thankyou.! I'm gonna have to watch this twice and take a few notes🔥
Great explanation!
Thanks!
Good video. It might be a good idea to concentrate on dividends, because the preferential rates only kick-in for "qualified" dividends. Even though IBM pays "dividends" out of accumulated earnings and profits, the taxpayer needs to meet a specific holding period.
There are also dividends paid by non-taxable entities like REITS, which are taxed at ordinary rates.
There are also passive and publicly-traded Master Limited Partnerships. The distributions are generally not taxed, but they are subject to loss limitations, where the K-1 losses accumulated and are recognized upon disposal.
🤣🥜🤣🤣🤣🇺🇸
The holding period is only 60 days before or after to make them qualified
Not an issue with me long time holdings Lol ibm a great one
Also have REITS so I do have some ordinary, but some of those are return of capital with zero tax
MLP are a pain in ass , sold my IEP Icahn holdings just to avoid schedule K not coming till late march. Same thing with royalty trust simply a pain in the ass passive income schedule E nonsense
Don’t want deal with them, I’ll stick with regular dividends,,if that costs me few hundred a year so be it.
Hi Toby!! Great to see this!! Geno
Great info, thank you so much!
Thank you🙂
Great video. The best by far is dividend income. When married and filing jointly you pay zero tax on close to 90K in dividends. It's almost like having a Roth account
Thank you so much for your kind words. Keep up the good work!
I've been so nervous about investing due to ALL the damn taxes!! 😫 I appreciate your content SO much!! 🙏
Same here i have tons of savings but im scared i will get taxed to death, I paid taxes earning it and spending it then when i make profit with it! WTF
So you don't want to make $100 because you are afraid to pay $25 in taxes? Lol, makes sense to me.
NEVER let the tail wag the dog. Have a good tax advisor and pay for that service and you will do well.
Easy to understand TME. Why aren't they teaching this in high schools across America? I am from Vancouver, Canada and would certainly love to see this taught in here in our country. L&S.
THANK YOU!! This is an amazing channel!!! I have learned so much in a small amount of time and know so many more grey areas exist but you chose to really sun up the main points! ❤️🥂
Thank YOU for being such a great part to the community!
@@TobyMathis Love your video! I am confused when it comes to Capital Gains. I only use Uphold and i trade within Uphold. Bitcoin for XRP, Etherium to XLM etc... I only cashed out $700 in 2023. However it says my capital gains are $626,500 and my Total Income is only $85.00. So on turbo tax it is saying I own over $200K in Taxes!! I am very confused. I only cashed out $700 total. All the rest were just trades i made within Uphold.
Very nicely laid out. I was just talking to a coworker about that although not as detailed and it blew his mind.
Awesome video but maybe a white board to replace the chalk board!
Very interesting! Thanks for making my head spin. I’ll be thinking taxes for hours now!
Very helpful for understanding and tax planning, thank you!
Glad it was helpful! Thank you for watching our videos!
Amazing you spoke about the hybrid tax treatment for futures.
Well done...
Your free virtual event is aimed at real estate folks. You have anything for futures traders?
Thanks for the good advice. I think the proposal to sell Bitcoin at a 30% loss and then repurchase it would be hit with a wash-sale rule. You'd have to buy a different asset (like Etherium or stocks to make it work)
Buy XRP.
I thought that was (still) allowed on crypto.
Wow! you're clever like Bernie Madoff!
This is allowed, but dont rebuy the same asset you sold within 30days
Does not apply to crypto. Yet.
late to the game, just watching this now, but this was super helpful. Thank you
Glad to hear it!
Subscribed on the first video! Can’t wait to learn how to use my equity to help me expand & also learn how to keep more of my wealth
Thanks for taking your time to make videos like these and breaking them down for the common folk.
Thank you for the education Toby, easy to understand and very useful, as usual. Two 👍 thumbs up!
🙏🤣🤣🤣🤣🤣🤣🤣
Really great way to explain all this. I knew most of it, but it got me thinking in new ways on what I could do.
I'm glad you found the video helpful
Completely understandable. Thank you for sharing your knowledge with us.
Wow i loved the way your carried this through.
How do you pay zero taxes on capital gains? I don't think you mentioned it.
One way he mentioned is to apply capital losses.
Another is to borrow against it.
He’s misleading you. You can’t. You can offset with capital losses or never realize the gains. Bottom line, you pay zero capital gains tax only if you have zero capital gains. The borrowing part is to borrow against your portfolio to create liquidity instead of realizing capital gains to do it.
Short term gains are at the ordinary rate but long term gains may be taxed at 0% "if your taxable income is less than or equal to $40,400 for single or $80,800 for married filing jointly or qualifying widow(er)." Similar to qualified dividends.
@@antilogism Good point. I will add that your AGI will be increased by the amount of your capital gain thus causing your taxable income to increase as well. Taxable income is your AGI minus the standard deduction or itemized deductions.
Toby is the best.
This was excellent! Instant subscriber. I very much appreciate the simplicity with which you presented this. Keep up the good work.
Good content. Educational. Please make more. I liked and subscribed.
Thank you for that! So glad your out there giving this great content.
Thank you🙂
Do you have a tax adviser program? I would love to learn more1
One nice bonus in the tax rules, if you are in the 37% bracket with dividends at 20% rate but no cap gains, your $3k loss goes against the higher taxed income. If you had cap gains it would go against that but not dividends. Odd but will take it.
Great content! How can a real estate agent offset taxes? Could you please create a video? Also if I sell a property, how can I apply a 1031 to avoid capital gain? Could you please explain this? Thanks 🙏
1031 you must purchase another property. It is a roll over type of exemption
I believe you have 180 days to buy a property after you sold your house.
Mr Mathis,you are the man I feel comfortable recommending to other people, needing help. Keep up the good work !!
Thank you, I will!
I normally cringe in these types of videos and watch for entertainment. I have a Masters in Taxation from one of the top schools in the country and work in tax planning for a very large corporation.
This video does of great job of simplifying some complex tops down to 13 minutes. Great job on the video!!
Wake up
@vip47287 no, you will owe taxes on that income. More details would be needed to figure the tax on that income, but it would likely be at a 18.8% tax rate (15% cap gain rate plus 3.8% net investment income tax). This is only the federal tax and doesn’t include state taxes.
@vip47287 I highly recommend consulting with a CPA in your area.
Learnt Tax in ten minutes. This is so very helpful as a guide to what I can do next. Brilliant thank you again. I’ve learned more in two of your videos than I knew in the last 20 years.
Two points:
1) SS is more than just a tax. If you are not paying that over your working life, you will not get SS when you retire. We can discuss it's ROI, but it is a bit misleading to say it is a tax.
2) You can't sell a crypto at a loss and buy it straight back to avoid taxes. The wash sale rule prevents that.
@@skellington2000 Skellington is correct on both.
@@thinhdoan3373 awkward
I'm grateful to have almost never been ripped off by SS - AND I'll probably never need it
Great video man
Toby, you do such a great job of explaining difficult concepts. Thank you.
Thank you for the compliment!
i wish I'd met you 35 years ago! great post! Keep 'em coming.
Thanks for great content on this! As a real estate investor and Realtor, I have felt like I still paid too much in taxes for 2021 from all the active income I generated. Subscribed!
Yes!! His comment caught me too!! I pay so little, but not yet "zero"!! Best wishes man!
Love the way you explain everything.....
Thanks a lot, I appreciate you taking the time to watch my content!
hello,
Have a six figure capital gain from the sale of a second home. Besides opportunity zones fund. How can I reduce my basis to lessen my tax burden?
Amazing content!! Thank you for making these videos.
Thank you for watching the content. Don't forget to subscribe for future videos.👍
We heard there is a federal law which may be ratified soon which required annual filing or person go to jail or pay $10,000. Or more. It was mentioned by a lawyer on TH-cam. Is this true? When will that go into affect? Please do a TH-cam video on this if it’s true, thank you!
Here at Anderson Business Advisors, we are always watching for new updates and changes in laws and reporting requirements. We typically do not change strategies until something has been completely implemented. In this situation, I am not sure what federal law you are referring to in regards to reporting requirements.
Love your information. Please get a white board, can’t see the chalk board
Great video Toby! I have 42 rental properties and will show this to my wife
Excellent, please let me know if you need any more help with taxes. Anderson has many great free resources and a team of excellent CPAs.
I love this channel! To add to this great video, for a dividend to generally be considered long term cap gain or “qualified”, each share of stock or etf must been held for more than a year (there are exceptions). If you hold it less, then it would generally be considered short term cap gain which is taxed as ordinary income. Some reits are never eligible for long term either. I could be wrong so anyone please let me know
Dividends have nothing to do with capital gains , just hold the stock for 60 days, it’s qualified for Most part (always rare exceptions)
REIT s are rarely qualified for dividends, but when you sell they are qualified for long term capital gains
Great presentation, however the information is beyond my ability to comprehend the steps to participate! Keep up the good work!
Thanks for the infor. But the heading is little misleading. There is not a legal to Not Pay taxes unless you dont make income, no income no tax. But if you make money, you do pay your fair share. All you have pointed out is taxes deferral, which, with proper tax planning, yes, can defer paying taxes, offset cap gain with cap loss, QOZ investment, 1031 exchange, accelerated depreciation, etc... these are ways to defer tax payments, but NOT not paying taxes. The legal way is giving away your income, such as charitable donations, gift money to your kids and family members to minimize the amount of estate, these are the examples where you reduce your income or net worth to an extent that your income or estate is below the taxable threshold, thus not paying taxes or paying less taxes. You may update your heading to be more precise. Thanks for sharing!
But I have never paid any taxes, since I dropped out of school.
I have been on welfare all my life.
White folks working for me.
I goes fishing and drinking wine.
He won’t change it cause it helps get the views/clicks.
Love the information Sir! Keep it coming.. :)
The red chalk is less visible than the white.
I strongly suggest a whiteboard.
Then the white would not show up.
you are very good. love this content. learning. thx
Holy shit. My mind just blew. Thank God for this channel.
Great Talk! Thanks!
Thanks for watching!
Great content. I may buy some of this overpriced real estate for rental...after giving it time to decline if it is going to at all.
I have a friend who always managed to reduce his social security contributions. At retirement he’s getting half of what I get. The problem is, he needs it, and he just scrapes by with help from family. It’s better to focus on being good at what you do, the earnings grow automatically. And don’t spend, learn to invest conservatively. In the long run those who like to spend end up with nothing, and those who spend only what they have to, including social security, end up not being a burden and being able to help others.
I’m amazed at how many people opt to take early retirement. I understand those with health issues but I hear this I worked hard all my life so I’m quitting early so I can now work part time forever and live in borderline poverty during my retirement. Makes it really hard to feel sorry for them. And they think nothing about mooching from family members possibly keeping them from being able to set themselves up for retirement. We can all look at our family history and figure out what decade we will most likely be gone to the hereafter.
If you sell and buy right back isn't that called wash sale? Dont you get fined for that or lose out?
Yes. He probably is saying you can buy it right back after the 30 days required. He just wasn’t clear. Good catch though.
@@robertdinicola5834he was clear - he did not mean in 30 days.
Very Digestible And I Really Needed This Information
Awesome discussion!
Glad you enjoyed it!
Does he have a platform?
🐥
Just think, even tyrannical governments like Russia have a flat 15% tax and none of these BS schemes.
Just be a donald and not pay taxes.
Good presentation Toby. I'll be watching more. Happy New Year.
The most obvious is to make below a certain capital gains amount and then it is taxed at 0%. For USA Married Filing Jointly that number is $80k in 2022. Anything above that gets into 15-20% brackets. So just stay below that 0%-15% wall.
thanks so much, I super like these videos
Glad you like them!
Eye Opening really. Thanks a lot. Will be watching all your videos for sure.
Thank you!
Thank you for watching!
Excellent - Subscribed! Thanks Toby.
you are good at this thank you
I appreciate the compliment!
thank u xplain good
Thank you for watching the video!
good stuff, i like it the way you break it down
Glad you liked it!
Amazing, thank you!!
Great info 👍🏼, thank you
Great! Thank you sir.
You can't take bonus depreciation on residential real estate in general. Also doing cost segregation studies is very costly and if you have a rental property that is only worth $200,000 it is not worth the cost especially because you are only deferring tax not avoiding it. So no, there are some cases where paying tax on rent is unavoidable or comes at unreasonable costs to avoid.
He is so smart guy . Learning a lot form him . Thank you
Thank you Tony. Small suggestion, red chalk is hard to see on screen. White board might be better.
Thank you for your feedback!
Loved this !
The best video I’ve ever watched!!! Thank you very much
I’ve already subscribed
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Thisguy has a common sense, everyman approach to this. Makes sense. Very relatable.I subscribed
He can't spell.
nice, thank you
Thank you for pointing out the things that have to be changed so everyone pays the taxes that they should. Tax avoidance is a serious problem for our country that needs to end.
Thank you for your support!
The way I do it is to cancel any capital gains with my huge capital losses from prior years. Works for me.
Please do a video on paying foriegn taxes from investments. I've been learning about that for a while. I've learned foriegn taxes are a tax credit.
I will certainly take your suggestion into consideration. 👍