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I just started a few businesses and now this has came across my feed. I knew some of these benefits but wow. Now im wondering if i need to go to a professional and have them look at my stuff. Great video, now im confused as heck on this whole 1099 thing and what i can and cant write off. Feels like im missing out on lots of benefits.

Better they give the money to charity than the corrupt government. They earned it and they're giving a lot to people that really need it. Instead of corrupt politicians. More power to them!

Great video Sherman! However, I still would like to be cleared regarding the self employment tax (I'm on 1099) which will be calculated after or before either SEP or Solo 401k contribution? Please advise. Thanks

💯💯Awesome video!! I definitely learned something. Thank you!

I agree that many people are considering NVDA as the "Stock of the year." However, I'm curious about which stocks could potentially become the next META in terms of growth over the next decade. I've allocated $200k for investment, aiming to retire comfortably.

You said you can deduct property taxes. Can I deduct property taxes if I am not the owner of the home? I live with my parents who own the home but pay the property tax as it's too expensive for them, would I still be able to deduct this?

And how do you pay the loans without selling your assets? Sooner or later you have to pay during your lifetime

Very nice video Thank you

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket.

after a life time of being poor I finally built a very successful small business, now the IRS wants 30% of my profits. it's fucking bullshit

Great video! Subscribed!

for the watch. great information. thank you for sharing this.

Stop trying to game a broken system. The government and its economic monopoly are illegitimate. Go organize with others and refuse this dystopian nightmare

I was leaning toward paying close to $500 a month to an accounting firm to handle my payroll. I am converting from a sole-proprietorship to an S-corp and will only have about six part time employees, including myself and my husband. I'm actually thinking I can do this on my own and for a fraction of the cost. Thanks so much for this and the last video re: paying employees through a 3rd party service like QB or ADP.

The first problem with your math is that those billionaires paying less than 1% of their money in taxes still accounts for over 50% of federal income taxes yearly. The second problem is that this strategy is extremely high risk. It's easy to make these decisions if you have a large portfolio. If not it could easily backfire if your assets don't appreciate enough to pay back then loan you took against them. and real estate is not anywhere near as appreciative as stocks are.

i';ve watched every video on this and this is by far the best explanation and laid out vid i have watched....cheers

You should look up the tax on inheritance here in The Netherlands just for a laugh. (Or a tear…)

Good information

Awesome Educational Content Salute 🫡, By The Way You Have A New Subscriber

Thank you

Why does this feel like cheating the system lol (maybe because it is) 😋

Excellent video, clear, concise, right to the point and very easy to understand!

What if you can't obtain a loan based on your credit score? Or what if you have good credit but too many hard inquiries? (ex. I have good credit but a stupid car dealership did 17 hard inquiries when I bought a vehicle.)

Can I have the link to the DAF video? Thanks in advance!

FMC!!!!

Very helpful thank you

Great video! Thanks for taking the time to explain

What’s up fam; thanks for the information; I was actually looking for a loan for my brokerage account I barely have 12k invested with the stocks events app saying that I have 1650.58 usd dividends for 2024 and 2252.44 usd annually But hey my question is my church is non profit organization; can I give my donations to them and how will that help with taxes? Is it a good idea? Where can I get approved for my portfolio loan?

Look up Within Heaven's Gates by Rebecca Springer. Page 64 😇

Can we 'Write Off' more than we make in our 'Side Gig?'

Who's left holding the debt bill when you die though from all the leveraged loans? I understand debt doesn't pass on, but seems immoral to borrow against assets and then die without selling to pay that back

Do non-profits get the same benefits?

Nice job. Solo 401k all the way, can add spouse for their own solo if they “work” in business, plus the solo has catch up 50+ which SEP does not.

So if you travel to look at property in Hawaii can you write-off travel and lodging expenses?

I work in music management, and I tell my DJ client to write off hotels, airfare and rentals when we travel to different cities for corporate gigs and award shows. Really appreciate your content as it is extremely helpful. Thank you.

Love this! Wrote off a lot of expense to Italy to attend a floral convention/workshop. My wife is a florist, content creator. Book keeping in place, and receipts all accounted for. n Keep the great content coming. THANK YOU

And in the UK inheritance tax kicks in at around 250k lol.. Passing on a mountain of debt and a huge tax burden to my kids would be great if I hated my kicks lol. Seriously though it's an eye opener to me how using debt to get richer and not pay tax works. I was brought up with the attitude that debt is bad " if you can't buy it in cash you can't have it " mentality .... So I learned to save for what I wanted from a very early age and it's stuck with me but I have seen others around me use debt to get rich and feel annoyed but I've also seen others lose everything when crashes come along.. Gotta good whatever lets you sleep at night.

This brother had to be sent by Jesus Christ, himself. I read about him in Isaiah 61 all 11 verses. Finally, a real true expert cloaked in a spirit of humility. Mannn, this video is God sent. Mr. Standberry, thank you and your team for truly giving back! You will undoubtedly be blessed continuously. Thank you brother! This is the kind of spirit that's contagious.

Thank you for simplifying this concept!

So in this case of filing as an S-Corp and being self employed, would it be beneficial to have yourself as a 1099 or W2 employee?

So in this case of filing as an S-Corp and being self employed, would it be beneficial to have yourself as a 1099 or W2 employee?

So in this case of filing as an S-Corp and being self employed, would it be beneficial to have yourself as a 1099 or W2 employee?

So in this case of filing as an S-Corp and being self employed, would it be beneficial to have yourself as a 1099 or W2 employee?

So in this case of filing as an S-Corp and being self employed, would it be beneficial to have yourself as a 1099 or W2 employee?

Thank you for the Iinfo Sir.

Hey Sherman , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?

Im not sure if i missed something, just overthinking, or you went over it in another video but how do you get a loan, even if using a Heloc if you are showing minimal income due to deducting as much expenses as possible. Even with equity wouldnt a poan be harder to obtain with minimal net income? Thanks!!

one major component is missing, your income, you should only leverage where you can handle the debt comfortably in line with your income.

Great explanation. Can I set up both SEP and Solo?

You need income to pay off the loans. That income you’d pay tax on.