All Episodes
Episodes
125 - 5 of 10 Trump vs Harris tax battle - Itemized Deductions Removing $10k cap on Property Tax Deduction
In this video, I delve into the intricate details of itemized deductions in the ongoing tax battle between Trump and Harris. Exploring the implications of removing the $10,000 cap on state and local tax deductions, I...
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124 - 4 of 10 Trump vs Harris Tax Battle - Corporate Tax Rates
In this video, I delve into the differences between Trump and Harris's proposals regarding corporate tax rates. Harris suggests raising the rate to 28%, while Trump aims to maintain it at 21% with additional...
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123 - 3 of 10 Trump vs Harris Tax Battle - Tax Free Income
In this video, I delve into the tax exemption proposals by Trump and Harris. Trump's proposals include tax-free tips, overtime, and Social Security income, potentially benefiting many. Harris, however, has not put...
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122 - 2 of 10 Trump vs Harris Tax Battle - 100% Bonus Depreciation or Business Standard Deduction
In this video, I delve into the tax proposals of Trump and Harris regarding businesses. Harris suggests increasing the startup deduction to $50,000, aiming to support entrepreneurs. Trump's plan includes a 20%...
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121 - 1 of 10 Trump vs Harris Tax Battle - Child Tax Credits
In this video, I delve into the intricate world of tax proposals by presidential candidates, highlighting the impact on taxpayers based on their income levels. I introduce the first of a 10-part series focusing on...
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120 - 3 Tax Free Proposals by Donald Trump
In this video, I delve into three tax-free proposals by Donald Trump, focusing on tax-free tips, tax-free overtime pay, and tax-free Social Security benefits. Explaining the potential impact on various individuals and...
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119 - Possibly the worst way to be taxed - and some better alternatives
In the video, I discuss various types of taxable income, focusing on earned wage income, ordinary income, and tax-free income options. I explain how different tax rates apply to each type of income and how strategic...
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118 - Bonus depreciation going away - Here's the alternative using 179
In this video, I explain the changes in bonus depreciation percentages from 2022 to 2024 and introduce the Section 179 Deduction as an alternative. Bonus depreciation has decreased to 60% in 2024, impacting taxable...
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117 - Tips for avoiding the 10% IRA penalty for early withdrawals
Today's video discusses strategies to withdraw money from an IRA without incurring penalties. Key points include the tax benefits of IRAs, options for penalty-free withdrawals, and the importance of documentation for...
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116 - Gift Taxes and Understanding a Gift of Equity
In this episode, I explain the concept of gifting equity, particularly in real estate scenarios, and the associated gift tax implications. I walk through a scenario where parents sell a house to their children at a...
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115 - Is it Deductible? The POND Method
In this video, I introduce the POND method to determine if expenses are deductible for your business or rental property. The acronym POND stands for Purpose, Ordinary, Necessary, and Documentation. I explain how each...
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114 - How to write off travel expenses you're already paying
In this video, I discuss how you can write off travel expenses and maximize your tax savings. I explain the importance of having a valid reason for your trip, such as meeting clients, attending conferences, or...
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