You Can Legally Pay No Taxes by Tom Wheelwright, CPA 

I've met Robert Kiyosaki years ago when he spoke at a local church out in Mesa Arizona

They always REPEAT OVER & OVER THE SAME BS skin-deep basic common sense knowledge, SELDOM/never give u DETAIL on how to pay no tax, and sometimes even LIE like RK once said he makes $1M and use it as a down payment to buy $5M then use depreciation to offset income then pays no tax, that's a lie b/c 1) AS LONG AS YOU MAKE $, you have to pay tax, that's the COMMON SENSE LAWS - unless you heavily borrow 10x, heavily in debt take all innessary risk (debt=risk, if not careful debt come back to buy you like unpredictable Black swant event i.e. during Covid pandemic 3+ yrs, POLITICIANS ALWAYS (REMEMBER THAT) MAKE LAWS HELP THE TENANTS [NOT LANDLORDS B/C there are only a few or less % voters are LL or business owners so why make laws side with LL/business owners to gain only a few % voters, surely they make laws SIDED WITH TENANTS OR min-wage-law attack business owners/LL to gain MORE VOTERS b/c probably 90% populations are EMPLOYEES/RENTERS so make laws kiss their ass will get more votes even make LAWS AGAINST LL/BIZ -- u should pay me edu u or subs then later when I've time to make video edu u lol) ... 2) don't listen to the dummies or R.E. fake gurus/crooks, only pay $ like spend $M LUNCH WITH the world richest, smartest, best investor WARREN BUFFETT who hates R.E. or LANDLORDING (rent R.E. to tenants) as 1 of the worst business there is, b/c ALMOST ALL LAWS ARE AGAINST LL (Landlord); during COVID 3+ yrs shut down, politicians make RENT Memortorium laws help renters DO NOT PAY RENT 3+ YRS=LL LOSE 3 yrs rental income, yet they do NOT make laws help LL stop pay mortgage 3+ yrs=against LL, who said laws favor/help BIZ/LL are liars/crooks. 2) all other business takes 1-5 or 7 yrs FAST depreciation, but R.E. takes SO SLOW 27.5 to 39 yrs DARN SLOW DEPRECIATION MEANS IRS TAX LAW PUNISH U INVEST IN R.E. so u cannot OFFSET other income FAST ENOUGH TO PAY LESS TAX. c) out of the IRS TAX, when u buy R.E, the Land Value=LV, say 40% of $1M R.E.=$400k is L.V, that 40% or $400k is UNABLE TO DEPRECIATE=U RIGHT AWAY LOSE $400K in depreciation=u lose already to begin w/ in R.E.; then the rest is 60% of $1M R.E. is structure Improvement but TAKES 27.5-39 YRS #@# too SLOW to depreciate so u cannot OFFSET ALL OTHER INCOME as RK lies about use his $1M/yr income as a down pay buy $5M R.E. then pays 0% tax=lie; the MATH/LOGIC AND LAW (both RENTAL LAWS LIKE RENT CONTROL/EVICTION CONTROL/RENT MEMORANDUM LAW & IRS TAX LAW) always right, now u need to pay me edu u change your life LOL. Here's the fast math: $5M R.E. only, say, 60%=$3M is Improvement divided by 27.5-39 yrs (apartment more than 4+ units takes 39 yrs), so $5M*60% /39yrs=76.9~=$77k/y, this TOO LITTLE $77K DEPRECIATION CANNOT OFFSET all other income as he claimed: business makes $1M/yr then invest it into $5M, assume earn 10%cap rate, NOI=$500k (the $5M R.E. also generate income, otherwise WHY BUY A R.E IF GETS NO INCOME) so the total income EXCEEDS $1M/yr from business + income from the $5M apartment rental=should exceeds $1M+$180k=$1.18M, then minus this TINY $77k/y DEPRECIATION=u still pay more tax then without invest into this $5M R.E.b/c the MORE INCOME U GENERATE (CASH FLOW), the tax U GETTA PAY, unless THE R.E. CROOKS LIE TO U BUY R.E. LOSE $ or earn only 5% cap rate not 10% LOL. I hate them waste my time THAT REPEATS FOREVER JUNKIES NON PRACTICAL KNOWLEDGE AND ENVER GIVE U DETAIL INSIDEFUL real knowledge. EVEN 4)NEW LAWS R.E. UNDER PRESIDENT TRUMP, the cost segregation (C.G.) but YOU'VE TO LOSE $K TO HIRE EXPERTS TO DO THIS C.G and THIS LAW IS NOT HOLD FOREVER, IT'S PHASING OUT FROM 100% TO 25% A FEW YRS LATER, while all other BUSINESS ALWAYS IS 100% FAST DEPRECIATION IN 1-5 OR 9 YRS NOT takes #@# slow 39 yrs=force u pay more tax, that's why WORLD SMARTEST/RICHEST INVESTOR BUFFETT HINT U PAY TUITIONS/LUNCH/DINER WITH US TO TEACH U THE REAL PRACTICAL KNOWLEDGE we've learned from mistakes, don't waste time & buy fake gurus/scamers include Meet Kevin, Stephew Graham, BiggerPocket, tons of such R.E. gurus=their way to make $ is TELL U A FAKE HOPE=R.E. IS THE BEST to get rich dream, they make their most $ by scam u buy their products or YT SUBS + ADVERTISEMENT REVENUE, IT HAS LESS/NOTHIGN TO DO WITH they've 10k apartment rents to 10k famlies of all life path, u cannot 100% FILTER OUT CRIMINAL/HOMELESS/DRUGGIES/MENTAL ILL TENANTS (how can u have 10k rentors NONE OF THEM or 0.1% are UNDESIRED CRIMINAL/DRUGGIES/ILLEGAL IMMIGRANTS/MENTAL SICK?), that's why BUFFETT HATES R.E. BE LL=EVEN THE KING OF R.E. PRESIDENT TRUMP TAKES 70+ yrs and 2+ Trump generations to earn his $1+ Billion if w/o BK 2+ times=R..E IS SO BAD, IT TAKES 70+ YRS THAT LONG TO EARN $B vs. Tesla, AMAZON, FB, AMD, GOOGLE ALL MAKES AVG MEN FROM NOBODY BECOME WORLD RICHEST under 25 yrs & Buffett is so happy invest $30B+ buy APPLE, BANKS, CANDY HAPPY BUSINESS NEVER HIRE TEAMS OF LAWYERS TRY TO COLLECT RENTS/EVICT THEM/BABAYSIT ppl of all kinds=headaque and all laws AGAINST LL except 1031-Exch law which Biden wants to change to punish R..E EVEN MORE. U need to pay me or only be with the RICH, SMART, AND REAL HONEST people NOT scammers/crooks/lie to u. KNOW MATH/SCIENCE IS MORE IMPORTANT THAN ENGLISH OR ANY LANGUAGES b/c God's language is MATH/SCIENCE/LOGIC-=these neve lie; human using observation & math then Newton/scientists can calculate the mass, distance & how the universe works, so math is more important than English/Chinese/Spanish/any language, educate the girls/boys, they said u ought to pay me edu u lol.

@@kendrabonds6901 he was a liar con man then and now--so is this tax man clown

@@TheMrPorter Wait! You can apply property losses, "depreciation", to your wages? I had always assumed the IRS wouldn't let you do this and that you could only apply the "depreciation" to the income the properties generated. i.e. "passive income". I had always assumed there was some brick wall between "passive" and "earned" income and you couldn't apply losses or expenses from one to the other. Of course, I've never actually consulted a tax attorney about this so I could absolutely be wrong. But a quick google search makes it appear that I am right about this unless there is a trick they know that we aren't aware of.

​@@sheshotjfk8375 Which do you trust more - Google or licensed tax attorney?

@@bbb_888 So you believe you can deduct your passive income real estate depreciation/losses from your active income wages? I have never tried it myself, I don't own any real estate other than the home I live in, but, YES, I am VERY skeptical of that.

there us a way to do it. Just look it up. You make the income first of all active either through short term rentals or you are actively involved in the management of the property (over 50% of your time. You can then use like the person said accelerated depreciation against active income. It is very hard to do because of the more than 50% of your time rule if you have a typical 9-5 job. But if you don't then yes you can use this. @@sheshotjfk8375

Insider trading. Period.

What did you do can you help me please?

establishing your business with a registered agent, i used legazoom they let you make monthly payments. then find a business bank card, i used "foundcard" bc you can do the bookeeping yourself, track taxes, and no monthly fee. now sell what you where going to sell, and make profits but remember your only getting taxed for your business income and not the social or federal or anything less then your tax baracket. work a side 9-5(w2) to help at times offset the taxes and you can concur a refund. @@laticiajackson658

He didn't teach anything. He just put up some percentages and drew arrows to them. I bet he eventually is trying to sell something.

of course

I think it's just a very consistent audience 😁

lmao yeah what is this bullshit

You too huh? 🤣🤣🤣

Myron brought us all here LOL

The funnel is real my boi. Shout out to Myron 😂

Lol

Same!!

I was literally at this seminar.... lol

How do I not pay taxes? He didn’t actually give step.

​@@shevannaellis6917 Yeah I am missing something

That's what I'm trying to figure out

What exactly is the plan?

@@badele80 First step is to not get a pay check. Second step is to receive passive income. READ "RICH DAD POOR DAD" TO GET A PLAN

it was basically just this video and a couple others like it. not worth it.

It says they are very complicated. Everyone deserves to have a great tax advisor.

@@TomWheelwrightCPA You don't even say anything substantial in the video.

US constitution.

this is the guy that made many of the charts MLMs use.

@@d-m.n_--2 no shit lol

40% income tax 24% social security and retirement tax 😂

@@ankitrathore1766 40% if you intentionally put yourself in the highest tax bracket, on a small portion of a W2 income in an entity with an S-election. The remaining K-1 distribution, depending on how much it is, does not pay SE tax (15.3%, not 24%). Retirement tax? Would enjoy hearing how you define this. The SE person can often get to 0% federal income tax paid, just like the Investor does.

@@ankitrathore1766 I assume this is a joke since you left an emoji, because everyone is required to pay the SS taxes.

well u dont take a sallary. you take a loan out. u think bezos musk or gates takes a sallary?

@@zarni000 You take out a loan to pay your living expenses? A personal loan? Can you explain more about how this works as I need to learn this. Thanks.

You're trained to be a good employee. Slave to the Fiat currency Dollar

No

@@leroygeorge352 explain

If you have a tax liability of 300K, you have earnings of 660K. You’d have to invest 660K to have no tax basis

@@TheInvestmentCircle got it. So you have to zero out your income. Thanks

@@ashleywhite3515 and then borrow against your investment and live off of that money, the debt will be your 'income' but since it's debt, it's tax free

One wonders if he met Obama personally. How can you say he's a great guy unless you met the guy.

They always REPEAT OVER & OVER THE SAME BS skin-deep basic common sense knowledge, SELDOM/never give u DETAIL on how to pay no tax, and sometimes even LIE like RK once said he makes $1M and use it as a down payment to buy $5M then use depreciation to offset income then pays no tax, that's a lie b/c 1) AS LONG AS YOU MAKE $, you have to pay tax, that's the COMMON SENSE LAWS - unless you heavily borrow 10x, heavily in debt take all innessary risk (debt=risk, if not careful debt come back to buy you like unpredictable Black swant event i.e. during Covid pandemic 3+ yrs, POLITICIANS ALWAYS (REMEMBER THAT) MAKE LAWS HELP THE TENANTS [NOT LANDLORDS B/C there are only a few or less % voters are LL or business owners so why make laws side with LL/business owners to gain only a few % voters, surely they make laws SIDED WITH TENANTS OR min-wage-law attack business owners/LL to gain MORE VOTERS b/c probably 90% populations are EMPLOYEES/RENTERS so make laws kiss their ass will get more votes even make LAWS AGAINST LL/BIZ -- u should pay me edu u or subs then later when I've time to make video edu u lol) ... 2) don't listen to the dummies or R.E. fake gurus/crooks, only pay $ like spend $M LUNCH WITH the world richest, smartest, best investor WARREN BUFFETT who hates R.E. or LANDLORDING (rent R.E. to tenants) as 1 of the worst business there is, b/c ALMOST ALL LAWS ARE AGAINST LL (Landlord); during COVID 3+ yrs shut down, politicians make RENT Memortorium laws help renters DO NOT PAY RENT 3+ YRS=LL LOSE 3 yrs rental income, yet they do NOT make laws help LL stop pay mortgage 3+ yrs=against LL, who said laws favor/help BIZ/LL are liars/crooks. 2) all other business takes 1-5 or 7 yrs FAST depreciation, but R.E. takes SO SLOW 27.5 to 39 yrs DARN SLOW DEPRECIATION MEANS IRS TAX LAW PUNISH U INVEST IN R.E. so u cannot OFFSET other income FAST ENOUGH TO PAY LESS TAX. c) out of the IRS TAX, when u buy R.E, the Land Value=LV, say 40% of $1M R.E.=$400k is L.V, that 40% or $400k is UNABLE TO DEPRECIATE=U RIGHT AWAY LOSE $400K in depreciation=u lose already to begin w/ in R.E.; then the rest is 60% of $1M R.E. is structure Improvement but TAKES 27.5-39 YRS #@# too SLOW to depreciate so u cannot OFFSET ALL OTHER INCOME as RK lies about use his $1M/yr income as a down pay buy $5M R.E. then pays 0% tax=lie; the MATH/LOGIC AND LAW (both RENTAL LAWS LIKE RENT CONTROL/EVICTION CONTROL/RENT MEMORANDUM LAW & IRS TAX LAW) always right, now u need to pay me edu u change your life LOL. Here's the fast math: $5M R.E. only, say, 60%=$3M is Improvement divided by 27.5-39 yrs (apartment more than 4+ units takes 39 yrs), so $5M*60% /39yrs=76.9~=$77k/y, this TOO LITTLE $77K DEPRECIATION CANNOT OFFSET all other income as he claimed: business makes $1M/yr then invest it into $5M, assume earn 10%cap rate, NOI=$500k (the $5M R.E. also generate income, otherwise WHY BUY A R.E IF GETS NO INCOME) so the total income EXCEEDS $1M/yr from business + income from the $5M apartment rental=should exceeds $1M+$180k=$1.18M, then minus this TINY $77k/y DEPRECIATION=u still pay more tax then without invest into this $5M R.E.b/c the MORE INCOME U GENERATE (CASH FLOW), the tax U GETTA PAY, unless THE R.E. CROOKS LIE TO U BUY R.E. LOSE $ or earn only 5% cap rate not 10% LOL. I hate them waste my time THAT REPEATS FOREVER JUNKIES NON PRACTICAL KNOWLEDGE AND ENVER GIVE U DETAIL INSIDEFUL real knowledge. EVEN 4)NEW LAWS R.E. UNDER PRESIDENT TRUMP, the cost segregation (C.G.) but YOU'VE TO LOSE $K TO HIRE EXPERTS TO DO THIS C.G and THIS LAW IS NOT HOLD FOREVER, IT'S PHASING OUT FROM 100% TO 25% A FEW YRS LATER, while all other BUSINESS ALWAYS IS 100% FAST DEPRECIATION IN 1-5 OR 9 YRS NOT takes #@# slow 39 yrs=force u pay more tax, that's why WORLD SMARTEST/RICHEST INVESTOR BUFFETT HINT U PAY TUITIONS/LUNCH/DINER WITH US TO TEACH U THE REAL PRACTICAL KNOWLEDGE we've learned from mistakes, don't waste time & buy fake gurus/scamers include Meet Kevin, Stephew Graham, BiggerPocket, tons of such R.E. gurus=their way to make $ is TELL U A FAKE HOPE=R.E. IS THE BEST to get rich dream, they make their most $ by scam u buy their products or YT SUBS + ADVERTISEMENT REVENUE, IT HAS LESS/NOTHIGN TO DO WITH they've 10k apartment rents to 10k famlies of all life path, u cannot 100% FILTER OUT CRIMINAL/HOMELESS/DRUGGIES/MENTAL ILL TENANTS (how can u have 10k rentors NONE OF THEM or 0.1% are UNDESIRED CRIMINAL/DRUGGIES/ILLEGAL IMMIGRANTS/MENTAL SICK?), that's why BUFFETT HATES R.E. BE LL=EVEN THE KING OF R.E. PRESIDENT TRUMP TAKES 70+ yrs and 2+ Trump generations to earn his $1+ Billion if w/o BK 2+ times=R..E IS SO BAD, IT TAKES 70+ YRS THAT LONG TO EARN $B vs. Tesla, AMAZON, FB, AMD, GOOGLE ALL MAKES AVG MEN FROM NOBODY BECOME WORLD RICHEST under 25 yrs & Buffett is so happy invest $30B+ buy APPLE, BANKS, CANDY HAPPY BUSINESS NEVER HIRE TEAMS OF LAWYERS TRY TO COLLECT RENTS/EVICT THEM/BABAYSIT ppl of all kinds=headaque and all laws AGAINST LL except 1031-Exch law which Biden wants to change to punish R..E EVEN MORE. U need to pay me or only be with the RICH, SMART, AND REAL HONEST people NOT scammers/crooks/lie to u. KNOW MATH/SCIENCE IS MORE IMPORTANT THAN ENGLISH OR ANY LANGUAGES b/c God's language is MATH/SCIENCE/LOGIC-=these never lie; human using observation & math then Newton/scientists can calculate the mass, distance & how the universe works, so math is more important than English/Chinese/Spanish/any language, educate the girls/boys, they said u ought to pay me edu u lol.

Obama is/was part of the evil cabal.

Shut up. Obama isn't a nice guy. He's a homosexual man living a double life

Bath house barry

Man that's some grand finesse what a G

he is talking total average tax take, sales taxes, property taxes, income taxes, insurance taxes the list goes on and on.

So then Trump doesn’t buy anything if sales tax is included?

Exactly

You make people lose interest in such an eye opening information. I Dislike the above comments 😢

Investment income!

These are all long winded infomercials, the stuff they make money on is the information they provide!

You totally missed it. Unless you already know what he is saying.