Tax LOOPHOLES The Rich Don't Want You To Know - Robert Kiyosaki and Tom Wheelwright

Years ago, my rich dad told me, “When it comes to taxes, the rich make the rules.” He also said, “If you want to be rich, you need to play by the rules of the rich.” The rules of money are skewed in favor of the rich, and against the working and middle classes. After all, someone has to pay taxes.

There are many ways that the rich make a lot of money and pay little to no money in taxes. On the flip side, the poor and middle-class toil away for their money, pay more in taxes the more they earn, and then park their earnings in savings and/or retirement accounts. In the meantime, they receive little or no cash flow on which to live while waiting for retirement -- when they’ll live on their meager savings.

Doesn’t it make more sense to play by the rules of the rich, and earn more while paying less in taxes?

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[comptonsmarkets]

Think about how this video can be applied to your situation. Then listen to the video again. Then think again. The answer doesn’t always come right away, especially if your figuring out your business systems.

I own a small construction company, and after learning and buying and reading books, (which isn’t excruciatingly expensive!) I started behaving like a “big” construction company. I incorporated, and hired a bookkeeper. I would venture to say that although I’m a small company, now that I behave like a big company, I can get into the 20% tax bracket. Start with Rich Dad Poor Dad, and read Tom’s book, Tax Free Wealth.

Just stay positive and educate yourself with reading and learning, and never give up!

Cheers,

[georgeflowers]

"I'm always thinking about losing money as opposed to making money, Don't focus on making money, focus on protecting what you have"

[gabrielmm]

Thank you. Just what I needed to watch. My wife and I are directors of our own business and own a few property, plus other income . I am nearly 52, We have started to save to retire perfectly, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably

[RusuSilva]

The question is how to convert your salary into the investment funnel without double taxation. you pay taxes once it's earned, then buy stocks etc and get taxed again once you sell for gains. How do I skip the first tax stage? I want to invest over 300k on the stock market, how do I achieve this

[TheCreditShifu]

The part about small business is wrong. I pay nowhere near 60%. Set yourself up as an S-Corp and you will pay far less, more like 30%. Also the part about big business doesn't take into account double taxation. That money is first taxed at 21% as business profit and then taxed at either 0%, 15% or 20% capital gains tax depending on tax bracket. So an owner of a huge c-corp first loses 21% and then potentially another 20% when they pay themselves (total 41%). There are however some other tricks, but these are not explained .

[MichaelLee-tuyb]

Why is he always talking about the same thing but don’t give into real details and how it really works

[elenaluca]

I am a small business owner and pay less taxes than my employees do because i invest in my business all the time

[raychristopher]

Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.

[herbankidd]

I’m always amazed how long these videos are and how little content they have

[unixtan]

Stop zipping in and out of the video introducing what Robert is going to say. This is redundant and distracting. Just let the video plays on, please.

[PiranhaJaw]

loopholes were never discussed. you're welcome.

[ALPHA-ROTH]

I own and work at my restaurant....I don't pay 60%. I'm under that for sure. Maybe 30%...maybe slightly less. Don't take the numbers for fact...listen to what he is trying to teach. Stop working for a paycheck.

[parabola]

A guy I worked with had six rental houses and three children, worked in entertainment and paid 0 taxes.

[hamlucas]

I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.

[isolevaladez]

Como puedo encontrar estas capsulas directamente? tienen otro canal? do you have a special play list???

[BIFFY]

With the black background it’s fun to imagine them floating in space while giving earth tax advice

[markmyjak]

I appreciate all the work you do, Robert. I think a big help would how all this applies on a tax return. What schedules apply, what is written off as a deduction. I had to figure this out my own.

[jonseeley]

This video does not explain any tax loopholes or stragities just a vague more explanation

[annemarita]

Any business owner who pays 60% taxes should fire their CPA! Then again, I too needed to educate myself at first, and then ask my CPA's very specific questions - until I found the right one for the job.

[Boot_Manet]

Anyone know best resource for education regarding UK tax laws. I realise they will be similar but also different enough to be important.