How To AVOID Paying TAX (like the rich)

[bobfeller]

Owning a business comes with 10 times the number of potential pitfalls and headaches.

[gamerrock]

You are the only boomer I trust on YouTube

[Joyman]

I'd rather stick to investing. It's not funny being in charge of a business. It eats up the most precious thing you have: time. It's a reality. Very few people can afford to go on holiday to Spain and leave the business in the hands of others.

[SonofaB__ssnessowner]

I have to be honest I have worked for my family business for 10 years and I'm applying for other jobs. I just don't want the stress involved with ownership.

[RM-xled]

I'm an employee of a company making $135k/yr. Ialso get to work an ez 40 hours a week as an employee. I get to have work life balance where I can focus on important relationships in my life as well as hobbies. Running my own business id have to drop all that and focus my whole life on my work. No thanks!

[luketorkingtondrums]

I remember seeing a quote which said something like "when you work for someone else, you sacrifice your dreams so they can achieve theirs"

[Stevesmusic]

You were the most straightforward person on the Internet. You can explain everything in 60 seconds that other mentors would explain in an hour in charge money for it. There’s a fake guru right now that told me your channel sucks, but this is the same guy who told me someone paid $80, 000 an hour for his time, which is hard to believe and wanted me to pay 80% of everything I have saved for his November coaching and I was like GTFO I watch this channel

[martijnvanaerle]

totally agree with Mark, however keep in mind writing off needs business related and justified.

[abdmations]

You are the only get rich guru that ain't a guru

[auggieeasteregg]

There are nuances. Tax benefits can be used to your advantage as an employee too, even though there are less of them. But there is also a lot less risk involved as an employee. If something happens to your company, you can take your skills and experience somewhere else. But if you own the business, then you are incurring the losses and penalties 100%. If you're making 100k a year, you can lower your tax liability pretty easily by itemizing your deductions, making regular IRA contributions, and especially by getting married and having kids. Not a good motive to do so, but the system greatly benefits married people with kids. That's the only reason I want to make over six figures one day, to be able to get married and have a lot of kids, and the tax system benefits you greatly in that stage of life while also not having the stress and risk of being a business owner

[RuleofFive]

Just shows how unfair the tax system is for ordinary people. Wealthy people need to pay more not less.

[_SameeR_]

👍 keep it up dude
Age is just a number, just a number is not gonna stop you from achieving something.
Here is a living example of walking motivation even though the age difference is much yet it won't make a barrier as he has the will to try to try to be just like the teens these days and trying is the thing that made him a millionaire. Hats off to this guy.

[barkeification]

Thank u sir, u r the best ❤❤❤ much love from Kenya

[keithchegwin]

My wife quick het head teacher job a couple of weeks ago, they offered her a pay rise bringing it to £106, 000 a year to stay and not quit! She turned it down and handed in her resignation. After tax it wasn't that much, and it still takes over 4 weeks to get a GP's appointment. Being a teacher is a really crap job, I'm pleased she has quit!

[eforeyerman]

Can confirm an obscene amount of my paycheck goes to taxes

[МефодийСазонов]

Bought XAI91L after watching your video, super excited! 💰

[alanwong]

True, but also you need to pay a lot of fixed overhead that you wouldn’t need as an employee. If you hire, you may your personal social security Medicare and also the portion going towards employees. You have to put up your own capital or be willing to borrow to raise funds or sell a portion of your company to investors. If you want flexibility to get out of the business, you have to have an exit strategy to unwind everything. There are pros and cons with everything

[tigerlover]

And yet trying to own a business was the absolute worst decision I have ever made. I’ll stick to working for someone else, less mental stress.

[JadeSilverMonroe]

My friends made fun of this guy, That was two years ago & we quit being friends 1 year ago, I'm surprised this youtuber made me think about myself & succeeding, Then cutting ties with people purposefully holding me back with drugs & other wasteful objects, I'm right before the finish line & have a girlfriend that loves me & doesn't abuse me, This guy also gives me motivation & new ideas every time I watch him

[roadtree]

I'm glad youtube recommended your channel to me at a point in life where your advice would be genuinely life changing for all the better.