How Rich People Avoid Paying Taxes Legally

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-RF Financial Consulting LLC-

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

[alfredleo]

You're definitely my best YouTuber, knowledge is key and that's why we see the poor remain poor and the rich getting richer

[annjackie]

It's about ownership, America is a corporation.

[SoCalBrian]

7:50 that is so insightful. Thanks dude!

[derrickricketts]

Thank you for all these knoledge Richard fain it's helping me allot so that I can achieve my financial freedom 🔥🔥🔥

[jamesearlcash]

Richard Fain: First time viewer so I have some questions 1 being so basically you are the owner
of a business who hired yourself as an employee and pay yourself to work for yourself, is that
right? Now your home, car, living room set, bedroom set, food etc are owned and payed for by the
business you own, is that correct? In order to do what you are suggesting one has to think like
both the owner and worker, is that correct? if as I assume is the case with the aforementioned
then do you pay yourself a weekly or bi weekly salary as an employee of your business? Don't
you have to pay taxes as an employee of your own business? You I would assume don't have
any employees working for you, is that right? If you have to pay taxes as an employee of your
own business then how exactly are you getting over? Wouldn't you be paying more taxes in
that kind of situation as both the business and the employee? I have tons of more questions
I won't add on, I just look forward to a response if possible for some of the questions I asked
you because you weren't detail specific at least in this video and like I mentioned when I started
this off I'm new to your channel, it just popped up out of nowhere so I was just curious and
watched and it just left me with questions. Hope to hear from ya.

[fnomeleven]

If you're an S Corp taking a very small salary then be careful because you need to be paying yourself a reasonable salary given the duties you provide to the company. You won't survive an IRS audit by underpaying yourself. Thr IRS will assess additional tax based on what their data shows them what you should have paid yourself.

[wandabailey]

Thank You for this video
this video is right on time.
You always know what to say in your videos Money Man

[KeithJones]

You must invest in assets so you can build wealth without paying heavy taxes like you would with your earned income

[mvp]

I love how this guy breaks everything down so that the "ignorant" folks can understand and apply to their lives... regardless. None of that fancy, big word, send me money talk.

[myreviews]

Great video! I would like to know what people who make $6, 000, 000 a year do to avoid paying more taxes. Lets say their expenses is $1, 000, 000 and the business profit is $5, 000, 000. Will they have to pay 40% tax ($2, 000, 000) on that? is there a way avoid paying that much taxes like putting that money in retirement or invest in real estate.
I understand the more expense you show the less tax you pay, but in the current situation I don't want to overpay for a big house just to save money on taxes. Is there a list of tax strategists in FL?

[SoCalBrian]

What is the site for RF Financial Consulting?

[AfroSenpai]

I did my first return with my business for 2020 and its crazy how much a small amount of deductions can help with a tax return

[jesussaves]

Thank you Richard.Great lesson worthy a lot of Gold.

[jennifercollins]

Awesome video! When it comes to money, if treated well has better chance of being productive in different ways. If you do this, you would have so much money that you don’t care much about money rather than the freedom opportunities and options that comes with having money. Same exacts words Andrew Webber will say a true advisor, leave a comment if you need recommendation about a financial advisor.

[attadetolk]

From Amsterdam, just want to tell you that I really appreciate the knowledge you share!

[jamalehoward]

Thank you Mr. Fain. I never looked at it in this way. You caused me to understand. I can't be mad at the rich and business owners for taking advantage of what they can!

[yadig]

So basically you can offset pretty much anything associated with your business.

[sakeenahme]

Thanks Richard!! This is exactly why I'm drilling it into my 3 young children about entrepreneurship. Black Children aren't taught about finances. I wasn't taught but oh boy am I teaching mine. Now I have to figure out how to protect my assets and avoid probate, recovery from Medicaid etc😣. How do the rich avoid those thing and leave personal property to their heirs?

[TimeLapseCarGuyBruno]

Great info... Could you touch on the benefits of living in a state like florida where there is no state income tax and auto tax.. also any benefits on home property tax.. I live in Connecticut and I'm looking to move to a cheaper place to live like florida.. Thanks again for all the knowledge.. much appreciated Rich

[theraphachukwu]

Truly eye opening Mr. Fain. Thank you 😁😁