1st off: I never reccomend anyone stop paying taxes no matter what the internet tells you. It’s not worth your families livelihood and really doesn’t prove any point in moving the needle for patriots at this point in time. We know it’s a scam and fraud but if Donald Trump with billions still can’t beat it please don’t try as an average American making 80-150k a year.
2nd off: avoid taxes legally if you feel the need to. There are plenty of ways to save money on taxes that’s literally all rich people do. But don’t get fancy with it and pay expensive CPAs till you are earning big time. If you make an extra 50k and owe 15k in taxes it ain’t worth complicated tax law shit most of the time just pay it.
3rd off: this is the real secret.
Example: Buy a rental property for 200k, break even in rent or make 300/mo it doesn’t matter the point is you barely make anything but you now own an appreciating asset that is paying its self off and providing you legal tax deductions like depreciation so your net worth is passively increasing.
Once you have enough value you do a 1031 exchange which allows you to roll the profits into another similar investment so you can upgrade to a duplex or quadplex for free and continue accumulating equity and cash flow. You ever met a poor person that owns 10 or 20 houses? I haven’t.
Also if you come on hard times you can always sell and pull cash out and pay taxes but your net worth will still be way higher than it was.
You don’t pay taxes till you sell. That’s the secret. Wealthy people don’t have a billion in cash they have an assload in stocks and property that just keeps going up in value.
They also take out loans against the stock/assets. Pay that loan off with the next one. On and on. No taxes paid because nothing or very little is ever sold.
1st off: I never reccomend anyone stop paying taxes no matter what the internet tells you. It’s not worth your families livelihood and really doesn’t prove any point in moving the needle for patriots at this point in time. We know it’s a scam and fraud but if Donald Trump with billions still can’t beat it please don’t try as an average American making 80-150k a year.
2nd off: avoid taxes legally if you feel the need to. There are plenty of ways to save money on taxes that’s literally all rich people do. But don’t get fancy with it and pay expensive CPAs till you are earning big time. If you make an extra 50k and owe 15k in taxes it ain’t worth complicated tax law shit most of the time just pay it.
3rd off: this is the real secret. Example: Buy a rental property for 200k, break even in rent or make 300/mo it doesn’t matter the point is you barely make anything but you now own an appreciating asset that is paying its self off and providing you legal tax deductions like depreciation so your net worth is passively increasing. Once you have enough value you do a 1031 exchange which allows you to roll the profits into another similar investment so you can upgrade to a duplex or quadplex for free and continue accumulating equity and cash flow. You ever met a poor person that owns 10 or 20 houses? I haven’t.
Also if you come on hard times you can always sell and pull cash out and pay taxes but your net worth will still be way higher than it was.
You don’t pay taxes till you sell. That’s the secret. Wealthy people don’t have a billion in cash they have an assload in stocks and property that just keeps going up in value.
They also take out loans against the stock/assets. Pay that loan off with the next one. On and on. No taxes paid because nothing or very little is ever sold.