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ACCOUNTANT EXPLAINS: How To Pay Less Taxes | Khalil Dabaja x Jaspreet Singh

2024-04-22 Education
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Minority Mindset
Minority Mindset
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Description

If your business does $250k+ in revenue, and you'd like to get a free consultation with Khalil. You can do so here*: https://www.thecwealth.com/jaspreet/ *Jaspreet Singh is a paid partner with The CommonWealth Group and a client. ✅ Check out my products: 1. Market Briefs - Get my free financial newsletter for investors: https://briefs.co/market/jaspreet 2. Free eBook - How To Build Wealth As An Investor here: https://briefs.co/yt/build-wealth 3. Business Accounting - Does your business do over $250k/year? If yes, get a free consultation from my partner accounting firm: https://theminoritymindset.com/yt/accounting Recommended: The 3 Step Method To AVOID TAXES Legally In The US (Do This Now) | Khalil Dabaja x Jaspreet Singh https://youtu.be/szAWU4qOyRQ?si=01KRf3Iq2QpF8Kso What Is The Minority Mindset? "The Minority Mindset has nothing to do with the way you look. It's the mindset of thinking differently than the majority of people" ~Jaspreet Singh My recommended tools! Please note: Yes, these are our sponsors & advertisers. However, these are companies that I trust and use (or have used). The compensation doesn't affect my recommendations or advice. That being said, you should always do your own research & never blindly listen to a random guy on YouTube. ---------- ➤ Invest In Stocks Passively 1) 📈 M1 Finance - Buy stocks & ETFs automatically: https://theminoritymindset.com/m1 ---------- ➤ Life Insurance 2) 🛡 Policygenius - Get a free life insurance quote: https://theminoritymindset.com/policygenius ---------- ➤ Real Estate Investing Online 3) 🏠 Fundrise - Invest in real estate with as little as $10! https://theminoritymindset.com/fundrise ---------- ➤ Buy Gold Passively 4) 👑 Vaulted - Buy physical gold on autopilot: https://theminoritymindset.com/yt/vaulted ---------- Follow me: Instagram: https://www.Instagram.com/MinorityMindset Website: https://www.TheMinorityMindset.com Want More 🥑🥑? Minority Mindset Clips: https://www.youtube.com/minoritymindsetclips Minority Mindset En Español: https://www.youtube.com/minoritymindsetenespanol Video host: Jaspreet Singh DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you. DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

Top Comments (10)

@richhands5269 2024-04-23

My three favorite channels: Minority Mindset, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥

12
@CashOps 2024-04-22

Reducing taxes is a critical part of managing your wealth! You have to focus on maximizing your revenues and minimizing those costs. Thanks for sharing.

11
@MinorityMindset 2024-04-22

If your business does $250k+ in revenue, and you'd like to get a free consultation with Khalil. You can do so here*: https://www.thecwealth.com/jaspreet/ *Jaspreet Singh is a paid partner with The CommonWealth Group and a client. WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!

9 1 replies
@demar1496 2024-04-22

Always great content, so this is said with all respect: Definitely don't tell the IRS that you're deducting for your money-losing hobby. They don't look on 'hobbies' favorably. There's a safe harbor: An activity is presumed for profit if it makes a profit in at least three of the last five tax years, including the current year.... But if it doesn't make money that often, I would not push this deduction.

4
@Dragnet35 2024-04-22

Lot to unpack. Yes you avoid employment tax with an S-Corp, but you will have take distribtions as taxable dividends, unless you are an employee of the S-Corp, no? Not sure I'd call it finding losses, but expenses all represent some form of cash outflow, money being spent. I hope folks realize that.

3
@Sandie_J 2024-04-22

This was absolutely amazing very informative video. Thank you for taking the time to discuss taxes and business. Definitely thinking of starting a business soon… but maybe not cupcakes 😆👍👍. Please consider doing more videos like this. Maybe more in depth.

3
@1.RoseQuartz 2024-04-22

This was perfect! Thank you!

2
@rhmagalhaes 2024-04-22

The most informative video I've seen in years !!! Thank you !!! Let's build a Cupcake Empire !!!

1
@graywolf1984 2024-04-22

yeah because I want to do all of that on top of my job too

0
@SketchArtOnly 2024-04-23

You speak truth!

0

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