Avsnitt
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In this video, I analyze the tax proposals of Trump and Harris, focusing on different taxpayer personas like Investor Erwin, Employee Ed, Retired Roger, and Self-Employed Sheila. I discuss how each proposal may impact various income brackets and types of earners, ultimately declaring Trump as the winner with three points to Harris's one. I provide insights on potential benefits and drawbacks for different taxpayer profiles, aiming to encourage strategic thinking about tax planning.
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In this video, I delve into the intricate details of the estate tax differences between Trump and Harris, focusing on the current $13 million limit and the proposed changes. I explain the implications of exceeding the limit, the tax percentages, and the impact on inheritances. Viewers are urged to consider estate planning strategies based on the potential policy shifts depending on the election outcome.
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Saknas det avsnitt?
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In this video, I delve into the tax strategies of real estate investors, focusing on the impact of policies by Trump and Harris. I discuss Trump's bonus depreciation and opportunity zones, highlighting how they can accelerate investments and reduce tax burdens. On the other hand, Harris's focus on low-income housing tax credits is explored, offering potential benefits for W2 employees and renters. Understanding these strategies is crucial for real estate investors to optimize their tax planning.
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In this video, I delve into the specifics of green energy tax credits under the Biden and Trump administrations, focusing on solar, wind, and electric vehicle incentives. I explain the current solar tax credit benefits, potential future expansions, and the differences in approach between the two sides. No specific action is requested from viewers, but I provide insights and predictions on the possible directions of these tax credits.
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In this video, I delve into the potential implications of replacing income tax with tariffs, exploring how it could affect businesses, prices, and overall economic dynamics. We discuss the concept of VAT tax, payroll taxes, and the shift towards domestic production. No specific action is requested, but it prompts viewers to consider the broader economic consequences of such a tax policy shift.
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In this video, I delve into the intricate details of itemized deductions in the ongoing tax battle between Trump and Harris. Exploring the implications of removing the $10,000 cap on state and local tax deductions, I highlight how this change could impact high-income earners and the middle class. No action requested from viewers.
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In this video, I delve into the differences between Trump and Harris's proposals regarding corporate tax rates. Harris suggests raising the rate to 28%, while Trump aims to maintain it at 21% with additional incentives. I discuss the potential impacts on businesses, job creation, and the economy, emphasizing the importance of incentivizing domestic production. No specific action is requested from viewers.
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In this video, I delve into the tax exemption proposals by Trump and Harris. Trump's proposals include tax-free tips, overtime, and Social Security income, potentially benefiting many. Harris, however, has not put forth any tax exemption proposals, focusing instead on credits for renters and child tax credits. No action requested.
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In this video, I delve into the tax proposals of Trump and Harris regarding businesses. Harris suggests increasing the startup deduction to $50,000, aiming to support entrepreneurs. Trump's plan includes a 20% deduction on net income, benefiting small business owners. No government checks are involved; deductions reduce taxable income. The most significant proposal is the potential permanence of 100% bonus depreciation, aiding real estate investors and business owners.
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In this video, I delve into the intricate world of tax proposals by presidential candidates, highlighting the impact on taxpayers based on their income levels. I introduce the first of a 10-part series focusing on child tax credits and earned-income credits, comparing current policies with proposed changes. Understanding these proposals is crucial as they directly affect how much you pay in taxes and can influence your financial decisions. No action requested from viewers.
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In this video, I delve into three tax-free proposals by Donald Trump, focusing on tax-free tips, tax-free overtime pay, and tax-free Social Security benefits. Explaining the potential impact on various individuals and industries, I analyze the implications and potential strategies for maximizing benefits. No specific action is requested from viewers, but the discussion aims to shed light on tax planning opportunities and the significance of tax-free income.
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In the video, I discuss various types of taxable income, focusing on earned wage income, ordinary income, and tax-free income options. I explain how different tax rates apply to each type of income and how strategic planning can help minimize tax liabilities and maximize net worth. Viewers are encouraged to explore tax-free cash flow opportunities and investment strategies to optimize their financial outcomes.
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In this video, I explain the changes in bonus depreciation percentages from 2022 to 2024 and introduce the Section 179 Deduction as an alternative. Bonus depreciation has decreased to 60% in 2024, impacting taxable income directly. The Section 179 Deduction can offset taxable income by the full amount of the asset purchased, similar to 100% bonus depreciation. It's crucial for those with positive taxable income to consider utilizing Section 179 for tax planning purposes.
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Today's video discusses strategies to withdraw money from an IRA without incurring penalties. Key points include the tax benefits of IRAs, options for penalty-free withdrawals, and the importance of documentation for certain exceptions. No specific action requested, but valuable insights shared on maximizing IRA funds.
Thank you for listening to another episode of the Wealth Game Podcast.
The goal is to get informal yet actionable advice directly to business owners and investors.
The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.
For topic suggestions, questions to cover, or collaboration requests please email [email protected].
For additional information and links to all available platforms please visit our website at www.wealthgame.io
Contact Us:
Website: https://links.wealthgame.io
Connect with Brent Bement:
LinkedIn: www.linkedin.com/in/brentbement
TikTok: www.tiktok.com/@brent_bement
Twitter: www.twitter.com/WealthGamePod
Threads: www.threads.net/@brentbement
Instagram: www.instagram.com/wealthgame.io
Facebook: www.facebook.com/wealthgamepodcast
YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig
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In this episode, I explain the concept of gifting equity, particularly in real estate scenarios, and the associated gift tax implications. I walk through a scenario where parents sell a house to their children at a lower price, discussing the need for a gift letter and the $17,000 annual gift tax exemption. No action requested, just valuable insights on gifting equity and tax considerations.
Thank you for listening to another episode of the Wealth Game Podcast.
The goal is to get informal yet actionable advice directly to business owners and investors.
The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.
For topic suggestions, questions to cover, or collaboration requests please email [email protected].
For additional information and links to all available platforms please visit our website at www.wealthgame.io
Contact Us:
Website: https://links.wealthgame.io
Connect with Brent Bement:
LinkedIn: www.linkedin.com/in/brentbement
TikTok: www.tiktok.com/@brent_bement
Twitter: www.twitter.com/WealthGamePod
Threads: www.threads.net/@brentbement
Instagram: www.instagram.com/wealthgame.io
Facebook: www.facebook.com/wealthgamepodcast
YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig
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In this video, I introduce the POND method to determine if expenses are deductible for your business or rental property. The acronym POND stands for Purpose, Ordinary, Necessary, and Documentation. I explain how each factor plays a crucial role in identifying deductible expenses. No action requested from viewers.
Thank you for listening to another episode of the Wealth Game Podcast.
The goal is to get informal yet actionable advice directly to business owners and investors.
The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.
For topic suggestions, questions to cover, or collaboration requests please email [email protected].
For additional information and links to all available platforms please visit our website at www.wealthgame.io
Contact Us:
Website: https://links.wealthgame.io
Connect with Brent Bement:
LinkedIn: www.linkedin.com/in/brentbement
TikTok: www.tiktok.com/@brent_bement
Twitter: www.twitter.com/WealthGamePod
Threads: www.threads.net/@brentbement
Instagram: www.instagram.com/wealthgame.io
Facebook: www.facebook.com/wealthgamepodcast
YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig
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In this video, I discuss how you can write off travel expenses and maximize your tax savings. I explain the importance of having a valid reason for your trip, such as meeting clients, attending conferences, or visiting properties. I also provide examples of deductible expenses, including flights, hotel stays, and food. Watch this video to learn how to take advantage of travel expense deductions and save money on your taxes.
Thank you for listening to another episode of the Wealth Game Podcast.
The goal is to get informal yet actionable advice directly to business owners and investors.
The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.
For topic suggestions, questions to cover, or collaboration requests please email [email protected].
For additional information and links to all available platforms please visit our website at www.wealthgame.io
Contact Us:
Website: https://links.wealthgame.io
Connect with Brent Bement:
LinkedIn: www.linkedin.com/in/brentbement
TikTok: www.tiktok.com/@brent_bement
Twitter: www.twitter.com/WealthGamePod
Threads: www.threads.net/@brentbement
Instagram: www.instagram.com/wealthgame.io
Facebook: www.facebook.com/wealthgamepodcast
YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig
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Alright, we have just passed the April 15th deadline for the 2023 tax returns. In this video, I will break down the reasons why we need extensions, when it makes sense to file them, and the potential issues that can arise. I will discuss the benefits of extensions, such as more time to file without penalties and the opportunity to implement tax strategies. However, there are also drawbacks, including longer wait times for refunds. Lastly, I will address the ugly truth about extensions - they do not give you more time to pay your taxes. It's important to understand these nuances to avoid any surprises. Watch the video to learn more!
Thank you for listening to another episode of the Wealth Game Podcast. The goal is to get informal yet actionable advice directly to business owners and investors. The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.
For topic suggestions, questions to cover, or collaboration requests please email [email protected].
For additional information and links to all available platforms please visit our website at www.wealthgame.io Contact Us:
Website: wealthgame.io or www.bementcompany.com
Connect with Brent Bement:
LinkedIn: www.linkedin.com/in/brentbement
TikTok: www.tiktok.com/@brent_bement
Twitter: www.twitter.com/WealthGamePod
Threads: www.threads.net/@brentbement
Instagram: www.instagram.com/wealthgame.io
Facebook: www.facebook.com/wealthgamepodcast
YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig
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Last-Minute Tax Tips: A Quick Guide to April 15th, 2024
As the tax deadline looms closer, it's time for some eleventh-hour tax-saving strategies. Join us as we dive into a rapid-fire rundown of five essential tips to consider before April 15th hits. From crucial reminders about extensions to savvy retirement contributions, we cover it all in just a few minutes. Host Brent Bement, a seasoned tax expert, breaks down these last-minute Hail Mary moves to help you navigate the tax season with ease. Whether you're a procrastinator or just seeking some final touches to your tax planning, tune in for practical advice on maximizing your savings and minimizing your stress.
Thank you for listening to another episode of the Wealth Game Podcast. The goal is to get informal yet actionable advice directly to business owners and investors. The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.
For topic suggestions, questions to cover, or collaboration requests please email [email protected].
For additional information and links to all available platforms please visit our website at www.wealthgame.io Contact Us:
Website: wealthgame.io or www.bementcompany.com
Connect with Brent Bement:
LinkedIn: www.linkedin.com/in/brentbement
TikTok: www.tiktok.com/@brent_bement
Twitter: www.twitter.com/WealthGamePod
Threads: www.threads.net/@brentbement
Instagram: www.instagram.com/wealthgame.io
Facebook: www.facebook.com/wealthgamepodcast
YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig
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In this video, I am excited to share the details of the Beemint blueprint. It consists of three entity structures that can help you build wealth, grow your business, and protect your assets. The structures include an operating company (S corporation), an investment holding company (LLC), and a private foundation for charitable goals. I highly recommend these structures for maximizing tax benefits and asset protection.
Thank you for listening to another episode of the Wealth Game Podcast. The goal is to get informal yet actionable advice directly to business owners and investors.
The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.
For topic suggestions, questions to cover, or collaboration requests please email [email protected].
For additional information and links to all available platforms please visit our website at www.wealthgame.io
Contact Us:
Website: https://links.wealthgame.io
Connect with Brent Bement:
LinkedIn: www.linkedin.com/in/brentbement
TikTok: www.tiktok.com/@brent_bement
Twitter: www.twitter.com/WealthGamePod
Threads: www.threads.net/@brentbement
Instagram: www.instagram.com/wealthgame.io
Facebook: www.facebook.com/wealthgamepodcast
YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig - Visa fler