What is Biden DOING?! Capital Gains and more!

Join Mark J. Kohler and Mat as they dissect President Biden's tax plan proposals, sharing valuable strategies to prepare for potential changes. Don't miss out on expert insights to optimize your financial goals!

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#Taxes #avoidtaxes #paylesstaxes #tax #realestateinvestment #Markjkohler #KKOSLawyers #markjkohlerLIVE #Entrepreneur #rentalrealestate #taxplanning #smallbusiness #taxlaw

00:00 Intro
09:04 - The Top 1% Tax Rate Increase
10:07 - Social Security Income Tax Increase
11:00 - The 199A Passthrough Deduction Phase-Out
12:38 - Itemized Deductions Reduced
13:16 - Child Tax Credits
15:50 - Capital Gains Tax Proposal
23:25 - 1031 Exchanges
29:54 - Stepped Up Basis

[BM-ifzn]

"Interesting" how they NEVER propose or pass a bill to CUT their salaries/pensions, spending or unnecessary government jobs. Taxing with any excuse/reason is the easiest way for them to "show they care" about the citizens and the econony.

[AliTawfeeq]

I cant believe I dont get billed for watching your videos! Grateful I have access to your channel Mark!

[kansaidan]

I'm not a fan of wealth distribution didn't they try that in the USSR, Cuba, and others of their ilk. Why penalize the visionaries who made America the richest country in the world. The people who create .... who invest .... who employ .... who work harder than everyone else. People who don't view themselves as 'victims' or looking for 'entitlements' they may be owed by whoever down through the centuries. The Bible says: If you don't work you don't eat. Now, we as a society can band together and help the unfortunate few who really can't participate in our success; however, it's just not sustainable when more and more people jump into the wagon to be pulled by the few who do continue to work and create and employ.

[Veteran_Nerd]

To a few of the negative nancy's in the comment section:

1. You should read up on tax strategies Real Estate Agents/Investors (and Small Business owners) can qualify for. It's pretty crazy (in a good way). My Real Estate agent made just under $1mil last year and paid 10k taxes, all legal according to the US gov.
2. Stop letting someone else's political view affect your attitude towards them. Deep breaths. It's not R vs D. It's Rich vs Poor. Politicians don't care about you.
3. Fire your CPA. They are ripping you off.
4. Mark/Matt pls ignore the idiots. They care less about what really matters on Main Street, and more about what some Media outlet told them to be mad about today.

Good luck! Shoutout from TN !

[DjDiemonte]

It sounds beautiful, but if the point is narrowing the gap between high and low, taxes don't work. People that have money are not stupid, they will leave or hide their money legally.

[londa]

Exactly! We just made it to the 1%. Now they want to raise taxes 😩

[Tonywin]

i can do with some mean tweets at the moment

[kevinl]

WASHINGTON state now has a state capitol gains TAX which passed few months ago thanks to Governor Jay Inslee. 7% on Capital gains of over $250, 000. He wanted 9% on every $25, 000 which did not pass. "Wants to solve the homeless issue."

[brascowired]

Pay attention to the pork in the bill?

[jakelewis]

I’d pay for this comedy show! Pretty funny guys! My taxes isn’t funny!!

[PittToNYC]

Mark, you should have told me you were in NYC and we could have gotten a quick NY slice.

[EvenaGirlCanDoIt]

So when are theses proposed capital gains taxes and step up’s supposed to come to fruition if they do? 2021? 2022? Need to know if I should sell my Inherited house now.

[patrick]

Why should passive income like capital gains be taxed less than W2 and earned income?? It makes no sense when you think about it.

[londa]

The S Corp distributive income will be taxed SE tax too. He plans to close that gap.

[patrick]

A lot of these wont pass including the capital gains, 1031 and scorp changes.

[bmxmom]

Put someone on the deeds and accounts to avoid these crippling taxes because they are owners?

[martinm]

Can you create a timeline like where we can avoid the Bullshit and go to the Facts. Thanks 😊🙏

[alliesteamc]

Can you clarify for small biz who have c Corp, if the c-Corp has a loss does the c Corp have to pay even if c Corp has a loss?

[randallcotner]

Has there been any discussion of a change to the S-Corp election or the benefit we get with not paying FICA on the distributions?

[shamoney]

Days it’s not a beat up session then ends up being a beat up sessions lol