Tax Strategist REVEALS How to Write Off a G-Wagon 

Stop watching this and get a job

@@Relaxedjack I have a job I have to pay bills for myself and I have a family I’m trying to learn other ways of making money. You shouldn’t assume someone doesn’t have a job.

@@Greg-sw7uu this isn’t teaching you how to make money this is advice for people who already have money how to save money on taxes when purchasing this car

@@Greg-sw7uuwatch videos that teach you about day trading and get more then one job and save up as much as you possibly can instead of wasting time watching pointless RU-vid vids like why would you watch a video about buying a 200 thousand dollar car if you only have $50 in the bank

@@Relaxedjack I’m sure you don’t have 200k in the bank as well. I get what your saying but this is what I’m interested in and I’m learning and expanding my knowledge on everything, no one can have too much knowledge.

Yeah I thought it was a max of $25k as well

@@McSlinkyTB The maximum Section 179 expense deduction is $1,080,000. It’s reduced dollar-for-dollar for qualified expenditures more than $2 million. The Section 179 deduction is limited to: The amount of taxable income from an active trade or business $27,000 for SUVs and other vehicles rated at more than 6,000 pounds but not more than 14,000 pounds The $27,000 limit doesn’t apply if your vehicle is: Designed for more than nine passengers behind the driver’s seat Equipped with a cargo area of at least six feet in interior length that’s not readily accessible from the passenger compartment A vehicle that: Has an integral enclosure fully enclosing the driver compartment and load-carrying device Doesn’t have seating rearward of the driver’s seat Has no body section protruding more than 30 inches ahead of the leading edge of the windshield You can carry over costs for an unlimited number of years that: You expense using the Section 179 deduction Are limited due to the business income limitations Vehicle expenses have a separate limitation for the maximum amount of depreciation you can take. The limitation is based on these factors: If the vehicle is a car, truck, or a van If it’s an electric vehicle If you have chosen to take special or bonus depreciation If the vehicle is bought or leased You can carry over any amounts over the maximum that you can’t claim in 2022.

How about… The Tax God

@@TheRoyal769sr You seem bitter. Let me break this down for you. As per MY previous comment, I (Serena) coined him THE BLACK TAX GOD. Which I can do. I already mentioned that he’s a tax genius-simply for his mastery of the American Tax system. THAT, achievement in itself has nothing to do with his race. If you want to refer to him as “The Tax God” (which you truly don’t want to do, you just don’t like that BLACK was used in an unofficial nickname praising him) I don’t care. Just don’t come under my comment trying to correct mine.

@@_srnao lol what a clown

BLM

@@flyingwithanything27 no they don't

Nice troll but this man is tax god genius. You are so wrong.

@@leepialong Is he really wrong

He’s not wrong. Carlton is leaving out details

​@@thetruth3514yup

Under new TCJA, Bonus Depreciation allows you to deduct a specified percentage of the cost of assets in the year they are placed in service. This deduction allows you to take your profit to negative as compared to Section 179 which only allows you to break even or make your profit zero.

If you have to ask...you don't need a G-Wagon. 🙄

Exactly. This is the issue. Otherwise you’re asking for trouble (audit)

And it’s not being used for 100% business (not even 25% probably) in the vast majority of these scenarios involving white collar workers. People are misled by videos like this

@@Bird1502 it just needs to be used 100% for that first year, then it can actually be reduced to 50% without issue. No depreciation recapture unless use goes below 50%.

@@BobbyMucka problem is that business use will be less than 50% in all years in the majority of cases for white collar workers except for specific industries - maybe real estate who is driving between properties often every day

@@BobbyMucka the vast majority of white collar workers should be using standard mileage for this reason

He makes it sound like a magic trick but it has to be a 100% work vehicle. For your example, what a lot of property managers do is buy an f250 or f350 for around 80,000 and use that to do maintenance and other business related tasks only and write that off

He has a video on his channel explaining this in detail.

Probably for legal reasons. One bc his business operations are already under that unbrella therefore he has a legal tax use. Also so he doesn’t get sued personally

From what I broadly know, You can write off the lease of the car, the gas, the maintenance because you use the car to do business in. So for a simple example, if you made 50k you'd pay 20% in taxes on that 50k which would be 10k. Lets say you leased a vehicle and it costs you 1k per month and your gas is $150 per month which together is $13,800 for the year. instead of paying 20% on the 50k youd pay 20% on $36,200 which is $7,240. That is why business owners pay very little tax because of deductions like a car lease and everything. You dont have to prove that you do business with the car, I think you just need it to be under your corporation to get the tax benefits.

EFT 🤣

Lol $125k for a car and you don't think it's a luxury? You must live quite the life of privilege! BMW is a luxury brand. Your car is literally 4x the price of a brand new mid size Honda or Toyota. So yes, it's a luxury vehicle.

You don’t need a 125k brand new car to be a realtor. Lol.

@@TallisLizzy That I don’t. But I got one, bitch lol

I believe recapture only comes into play if your profit on the sale more than the depreciation written off.

If you can show that the rv is used for business, could be possible

No us tax payers

That’s done on purpose

No, they do. You have to look at GROSS weight not curb weight. IRS uses gross weight. 👍🏾

It misses it by only a few lbs. :(

@@savingdollarz stop smoking crack it's over 6000

@@AmazonWebService98 specs say 5,740 lbs. Maybe with extras, but IRS will go by listed specs.

Yep. Mine too. Had to listen to it three times to get ALL in. Big ups to you for being able to admit that online.

My brain hurts

It's a tax strategy you can employ for a business , what makes you think it's a investment , it'll save you money

Lexus is ok but not luxury……. Nothing special….

@@Hmmm313 Not Luxury I dont think you have sat in the Lexus 600F dude its exemplar. Its Maybach like If you dont think so ask the Shieks they love them Lexus in Dubai because they last. G wagons sure not saying there not good just not the only choice. I been in the G wagon and its a ugly box sat in the v8 Bi turbo sounded awesome and its pretty sick but its not 7 Passenger and its shape is not all that. Its not executive its just flashy. The Machbach is a better choice if you want Mercedes or the 500 series.

@@Hmmm313 lol yea and g wagons are the most overyhyped poser garbage on the market, they are bad cars that look cool and all the cool rich kids want them, i leased one after my 1st couple years and successful bonus checks, returned it within 6 months, its just not a good car, it looks awesome though.

Letting people keep their own money isn't broken