1. So basically this guy is explaining that income taxes are extremely inefficient and unfair and need to be replaced? Everyone who understands taxes has been telling this to people for years. And yet people fail to elect politicians that want a flat tax or better yet get rid of income taxes and replace them with a different tax system

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2. #13 is incorrect. You cannot do a backdoor Roth with a SEP-IRA. You need a Solo 401k

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3. Don't you need to have atleast more than 12k in seductions or its wise than the Standard deduction?

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4. Important note here, I bought some paintings for very little money a couple of decades back, then sold one for a lot a couple of years ago. The tax I paid for the profit would have been a lot higher had I treated it as an investment, not something I bought because I liked it.

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5. מדןע אין כתוביות בעברית בכל הסרטונים שלך ??

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6. As an up and coming Tax Professional, I have to say the amount of mis-information in this video is terrifying…..

   Some points here,

   Starting a "money losing side hustle" in order to siphon all of your personal expenses through the LLC is a VERY bad idea. First of all, all expenses need to be ORDINARY AND NECESSARY and your income stream needs to rise to the level of being a "business" before you can actually deduct anything.

   For instance, if you have losses in 3 out of the last 5 years, there is a rebuttable presumption that your "business" is not a business by the IRS, and that in fact this activity must be a hobby if you are consistently taking losses. The IRS can re-classify your business and rid all of your deductions creating a huge tax bill.

   His little trick for reducing your withholding by increasing your dependents (by the way you don't increase dependents on a W-4, you adjust withholding allowances on a W-4, I digress) is also a VERY BAD IDEA. In a case like this the IRS could issue a "Lock in Letter" by your employer correcting your withholding to the proper amount if you get caught with this. This alone can increase IRS scrutiny around your name, and oh by the way your employer gets a copy of the Lock in Letter, fun conversation to have with your boss about how you're way understating your tax withholding amount in order to invest the difference during the year.

   "Bad Donnie shouldn't have done that" slap on the wrist thing that he said. Something like this when it finally snaps back on you can create very significant penalties that can be life changing in some instances. It is definitely not a slap on the wrist, the penalties for playing fast and loose with the tax man can range from 25% to 50% or more.

   The way he walked about Section 179 depreciation is not correct.

   *He mentioned something about the R and D credit. The amount of substantiation, revenue, expenses to have records of, and the amount of actual time and effort it would take to be able to take this deduction is incredible. Unless I was running a biology lab I'm not sure I would feel comfortable even taking this deduction until I was a Fortune 500 company, this is a very rare credit you do not see very often except among Big C-Corporations.

   Not sure if this video was supposed to be satire or not, but my goodness if you ever come across a Tax Preparer talking like this, RUN they are running a fly by night operation at the very least.

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7. Whoah there warren buffet. One can only deduct from profits. I can't start a worm company and explain that the reason i didn't pay income taxes from my 925 job is because i invested it.

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8. How come your Tesla buy isn’t long?

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9. I have a business I'd like to do with you

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10. Section 179 deductions are rather tricky. You have to get to a point where you can itemize. Most people don’t. I suppose most rich people do. Our state actually takes a portion of the 179 deductions back in state taxes. Go figure

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11. This is why I got married to an S corp

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12. Thank you Kevin.

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13. Do you recommend me any books to read to learn more about it

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14. Why does this not have 5 million views

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15. How do you remember all of the tax deductions like if you bought your phone for the business at the beginning of the year how do you remember that at the end of the year when it time to fill out your taxes

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16. Donald Trump paid 70K on hair styling? Man he is getting ripped off.

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17. Do a CANADA video:)

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18. Omg this is dangerous advice! I’m a tax professional and please have anyone with a tax background to review this!!

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19. EXAC

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20. i got a juicy one for ya

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21. lmfao

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22. More

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23. Question kevin, and hopefully you see this comment, can make a s Corp business by using my friends dealership license? I buy the cars at the auctions with my own money and pay him a fee from whatever profit I made from that car. Can I write off "business expense" like gas, parts, phone for my contacts?? Please help I would really like to make more, on this side hustle 🙏,

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24. Alright Bro I’m buying your stock course

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25. The Federal Reserve prints the money.Therefore they control its value.Jesus will put these satanist pricks out of business permantly.Thats means you Rothchild.

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26. Its not rich vs. Poor as more as knowledgeable. N ignorant to tax laws.

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27. Exact title would be, "all the tax write offs."

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28. Kevin – Is there a way I can deduct all of my wife’s Starbucks and Dunkin Doughnuts? She spends thousands of dollars a year.

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