Видео

No praying in jesus name cos jesus is sstan and father of lies bible is full of lies and fairy tales ,yahweh God is not liar but religion does not apply in heaven.

Jesus christ is satan himself , all religion man made no religion in heaven😮😢

I lived outside the country at one moment and visited doctors and hospitals there. It was the best care I’ve ever received. I would like to open an HSA and fund it to return to that country at least once a year for a full health screening and see those same doctors. Can I write off my travel expenses and medical costs? If so, What are the particular documents from doctor or hospital required by the IRS? I currently live and work in US but I’m a 1099 employee and not offered health insurance atm. I’d like to know if this is even an option lol 😂 Thank you for your expertise in advance 🙏🏽

Were is your office locations?

Great video! Three questions related to Charitable remainder trust (CRT) 1. Does CRT be treated as an entity and need to file 1041 return every year? 2. How to calculate CRT tax deduction ? 3. Is CRT distribution taxable income? Is distribution be issued like 1099R form? 4. Where to enter the data at form 1040 ?

Thank you for the great video. I have a question: what is the difference between solo proprietorship and LLC? Being an LLC, does it mean that you have to register an entity at your state with an EIN ?

When you borrow against your assets how do you pay back the loan?

It's a great video that clarifies doubts.

The only downside to this strategy is if the assets decline in value. You will face a margin call or a collateral call. And if you are so leveraged you cannot pay off that loan, you will either have to 1) fire sell your depreciated asset 2) be foreclosed on that asset. My billionaire boss does this. Borrows against his pro sports team to fund other investments. Every rich guy does this.

Would any of these credits apply for small nonprofits? I'm particularly interested in the credits for offering health insurance.

So, basically there is no limit on converting or rolling over, and you need to put in only what your plan to transfer out into a ROTH? But how are you going to make it nondeductible? How do you pay the taxes in advance like you would a ROTH?

The last time I invested in a stock that did extremely well was during Covid when I invested in Moderna & zoom and I am so sad that I missed out on Nvidia. I have $360,000 in cash and am looking for new sectors to invest in for the next five years. Any suggestions?

This is a good strategy for buying assets, but should be noted it only works for buying assets that are going up in value. You still have to pay taxes when you pay your self income.

I'm in the 10-20% now, and I don't anticipate going any higher than the 24% in this chart. The only way I anticipate ever having more money coming in is from a business, but then that changes the whole equation. What type of person would likely not be in a lower bracket at retirement?

I wonder how much of that 50% that have nothing saved simply don't even sign up for what their job offers

I'm doing most of this, but #7 seems borderline questionable. Almost like one market is being favored over others

My question is If you borrow to buy lets say a house then how can you pay back what you borrow without income ?

I get so excited every new from you

Question: If you turn 59.5 with a high income, there is no benefit to withdraw from IRA because you still need to pay high taxes. Right? In other words, wait for your income to be really low to withdraw IrA…

This video is amazing, just started 1099 work since being laid off in February. So many questions answered here, THANK YOU! I'm going to look at additional videos to learn more about deductions.

Thank you for a clear explanation! I am owner operator of an HVAC business, and was looking to hire my wife. Any suggestions on payroll, or how to go about paying her appropriately?

Hi, Great video. I have a question. What about if you are a salon owner who has only 1099 workers. Can you put yourself also on 1099 as an owner, if you are LLC under C corporation???

💯💯

Great video Sherman. One question I have is would it be advantageous to invest in state municipal bonds in the state we are living in which are mostly Federal and State Tax income free? Thanks a lot !

Great video, liked the examples.

Thank you for such an informative video. Help me a lot filing my report.

Good video. It is not only tax savings to look at. It really comes down to the effective tax rate you will pay, either today to contribute or convert to Roth, which will all be up front at your top marginal bracket. When you defer, you pay more slowly over many years, with a portion potentially at zero tax (standard deduction) or low tax brackets so the effective rate % may be less than if you converted even if you paid more tax dollars. Example. Convert $100k to Roth today at age 60 and pay $25k of tax. It doubles to $200k tax free by the time you are 75. If you did not convert the $100k plus the other $25k you would have paid to convert also double to $250k over the same period. If you pay an average of 20% on that balance, you would pay $50k on tax, double what you would have paid to convert and still have the same $200k after tax dollars. Better yet, you do not have to pay the $50k all at once, but can spread it out over many years via RMDs, potentially never paying tax on the entire balance (although your heirs ultimately will pay tax).

Well presented imfo. My accountant cals it the double tax. You pay money in taxes on your income and on the money you used to pay yourself that income. That's one of the main reasons a person will get into some sort of Corp to just pay business tax.

Outstanding sir and thank you. I am a 1099 earner and have write-offs, but believed I needed to have an LLC. You’ve debunked that for me. You nailed this presentation for me, separating all aspects into categories, so clearly explained to me, a non-professional tax preparer. Thank you! I have subscribed and if I’m not finding the results as I think I should, I am very open to using your services. Nailed it for me! Thank you once again. Gross

Giving police officers immunity is CRAZY, when you know how corrupt and RACIST they are. They FBI said a few years ago that white supremacist groups are in the police departments across the city smh. Nobody should want that, especially Caucasian citizens since more caucasians get shot to death than so-called "Black" people. I love what Trump has to say about Bitcoin, but giving Police Officers immunity is TOO radical, it's bad enough prosecutors and judges have absolute immunity, now he wants to give that to the Police so they can really terrorize communities? Giving cops immunity will probably lead to the next civil war once they start abusing their power even more.

So is bank to bank direct deposits the best way for small businesses with 1-4 employees?

But I feel like deductions don’t really save you money by spending all that money for example (going on a business lunch meeting or buying a computer to use for your business) they don’t make money. They just don’t have to pay for taxes. I don’t know. I really am trying to build a business that I can profit from. I just feel like idk in so confused 😊

Okay. So if I have a home office I can ONLY use that office for my 1099 work? Even if I have a set time I’m working? Meaning if I only work 5 hours a day for the 1099 I could not use the office for ANYTHING else?

Amazing .. Thank you for this Video! had to subscribe.

Please stop the random clip art/ videos man. Very cheesy alongside your wise discussion.

More info on HSA’s please! Do you have to have a HSA health ins plan to be eligible for HSA account and writeoff?

What about a dedicated patio area to your business or a garage space to park the 100% use biz car?

Thanks for the video. I didn't know I could write off many of the topics. Very clarifying! Subscribing and sharing!

Sherman, Can you please help me here? I tried to file online but it ask for ENI #, so I punched the ENI and it show an error, should I input my SSN instead of ENI? Thanks for your time to answer my question.

Can your personal home be considered as your asset to borrow against? Can I use this step up basis when I die and bequeath my personal home to my heir?😊

Isn't most people are doing it already? By racking up the credit card debt and student loan???

hey cpa coach were u reading from q-cards, ur good

Never give your control. Mistake

QB online is horrible. Desktop transfer QB online is a nightmare.

In terms of a SBLOC please note the following important details: 1. Typically, clients pledge a minimum of $500,000 in assets as collateral. 2. Line of credit funds cannot be used to purchase securities such as stocks, bonds, or mutual funds. 3. Loans are subject to variable interest rates. In general, this type of leverage should be used when you're confident you can repay the loan quickly.

You will never ever have social security building up.

I have a question. I have a vehicle with 160k miles and it needs engine replacement. Total repair with labor comes out to about 6k would I be able to write this off at the end of the year? Since I need the car to get to work

I did not run payroll for the first quarter, but did withdraw money from s corp, i started my payroll with gusto this month only. How should I treat the money that I withdraw in the first quarter? Distribution?

I dont understand how someone would vote for a party thats wants to double your taxes and use the money to pay for illegals so one day they can there votes too

So I’m a realtor full time, and so if I have a rental property I can consider the passive losses as ordinary losses just because of that?