Why Wealthy People Pay Less Taxes Legally

Recommended video:

About guest: Tom Wheelwright, CPA is the visionary and best selling author behind multiple companys that specializing in wealth and tax strategy. Tom is also a leading expert and published author on partnerships and corporation tax strategies, a well-known platform speaker and a wealth education innovator.

About Valuetainment:
Founded in 2012 by Patrick Bet-David, our goal is to impact entrepreneurs around the world through value and entertainment. We are the #1 channel for entrepreneurs because of the best interviews, best how to videos, best case studies and because we defend capitalism and educate entrepreneurs.

Follow Patrick on social media:
#PatrickBetDavid #Valuetainment

[floxydorathy]

Now with the recent economy, To get financial FREEDOM you have to be Making Money while you're asleep

[gowonjake]

A lot of folks have been going on about a january rally and said stocks that would be experiencing significant growth these new year season, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?

[alexyoung]

I don’t know how but you’ve managed to package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thank you for your efforts to be the signal and not the noise. I understand that the economy is in currently in a downturn and that we must wait for the stock market to recover in order to break even and make a profit.

[richardlloydusa]

Corporations don't pay taxes their customers do!!! And that means we pay the additional "Corporate taxes". TRUTH!!!

[insomniasleeps]

When he said "We spend most of our time asking questions not giving answers". That hit hard. Its one of the things I apply in my industry and its also something I look for in my services.

[mw]

Hire all best tax attorney's and they find all loopholes and exemptions !

[IrvOfficial]

Tax Free Wealth should be a staple used in schools

[TenantRepGuru]

Pat - not only did I watch the whole thing, I think it was one of your most important videos yet. It's just not enough to learn how to make money. As your guest pointed out, in California, they could take 98% of what you spent a lifetime making. Keep it up Pat. Thank you.

[brunofernandez]

I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability

[Raymondjohn]

These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.

[hansdiaz]

Depending on one stream of income had never made any millionaire and earning check doesn't put you in Forbes.

[pauldouglas]

We should be careful on money useage, if you are not spending to earn back, then stop spending.

[wertzui]

Peter Schiff's recent podcast explained the income tax perfectly.
Always starts with "only the rich will pay", then 2 generations down the line everyone pays the tax except the rich...

[josephudokim]

Profitable traders can't start all by themselves they start with experts first then while making profits learn how to be profitable

[bob.weaver]

I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.

[ericspurgeon]

Watched and loved this video. Running my own business I'm obsessed about making sure that I am running by business correctly and not just saving money but reporting my earnings correctly. Having a great tax advisor has been a game changer.

Biggest takeaway: Understanding that the tax structure is trying to incentivize certain behavior with the tax code. Much more positive reframe for taxes and something I should have known but didn't.

[tuff]

I knew a tax lawyer....he had a full basketball court in his basement.

[DanWalterTradeview]

"There is no such thing as trickle down economics. I've had a challenge out for years for anyone to prove where it came from. No one has met my challenge." Thomas Sowell.

[natashaquinn]

Learning about taxes is so important. It looks intimidating and most people hate it but once you understand how things work you can make the right choices. A great video, thank you.

[knitentrepreneur]

Glad he finally said at the end that with good tax planning you can reduce your taxes payable. There is not one company in the US that would ever pay 98% tax. That’s ridiculous!