8 Ways to LEGALLY Avoid Paying Taxes Like the Rich (Save 6 figures+ in Taxes!)

The Personal Finance Podcast

Andrew Giancola

Investing, Entrepreneurship, Business

4.7 • 1.4K Ratings

🗓️ 3 November 2021

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

78. 8 Ways to LEGALLY Avoid Paying Taxes Like the Rich (Save 6 figures+ in Taxes!) *** Correction on the HSA Penalty! It is 20% and I stated 10%. "If the money is used for an ineligible expense (whether medical or non-medical), the expenditure will be taxed and, for individuals who are not disabled or over age 65, subject to a 20% tax penalty. If you are 65 or older at the time of withdrawal, then you are free to withdraw money from your HSA for any purpose" We have a YOUTUBE channel! Check it out here! Our Latest Videos: 7 Costly Roth IRA Mistakes What Would Happen If You Maxed Out Your Roth IRA By Age?! (These Results Will Amaze You!) How to Become a Millionaire With a Small Amount of Money (Is it Really This Easy!?) Got questions? Ask me on Instagram Here. @mastermoneyco This is the fastest way to get a hold of me! Thank you to Ladder Life Insurance for sponsoring the show! Check them out at ladderlife.com/pfp Thanks to BlockFi for sponsoring the show! Get the all new Bitcoin Rewards Visa card with $25 in free Bitcoin at BlockFi.com/PFP Thanks to ButcherBox For Sponsoring the show! Right now new members get a free turkey with their first box when you head to butcherbox.com/pfp. Thanks to our sponsor Manscaped (Manscaped.com) for sponsoring this episode of the podcast. Use code PFP20 at checkout for 20% off + Free Shipping! Thanks to OurCrowd for sponsoring the show! Invest in Venture Capital at OurCrowd.com/PFP Thanks to Masterworks for Sponsoring the show! Invest in art at masterworks.io/pfp Thanks to Boll and Branch for Sponsoring the show! Get the best sheets in the world at bollandbranch.com and use promo code PFP. Want to Support the Show? Follow on Spotify or Follow and Leave a 5-Star Review on Apple Podcasts! Today We Discuss: How to use retirement accounts to your advantage. How to save 6 figures in taxes. How to Pay $0 in taxes when you sell your house Real Estate Tax Tips Capital Gains Calculator List of Deductions Episodes Mentioned More Episodes You Will Love: HSA The Super Retirement Account How to Become a 401(K) Millionaire The Stairway to Wealth Check out all the Stuff I Recommend! M1 Finance Open a Roth IRA Personal Capital Free Wealth Management + Budget App and Fee analyzer! CIT BANK (Best Savings Account) Best Personal Finance Books The Simple Path to Wealth - J L Collins The Millionaire Next Door - Thomas Stanley I Will Teach You To Be Rich - Ramit Sethi Rich Dad Poor Dad - Robert Kiyosaki ** Some links may be affiliate links and we earn a small commission at no extra cost to you. We only recommend products we truly believe in. Check us out on social fam! Twitter Dollar After Dollar Instagram www.thepersonalfinancepodcast.com www.dollarafterdollar.com www.mastermoney.co Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	If you have a family like I do and they depend on your income, then you need life insurance.
0:06.0	And policy genius was built to modernize the life insurance industry.
0:09.6	Their technology makes it easy to compare life insurance quotes from America's top insurers.
0:15.0	With Policy Genius, you can find Life Insurance policies that start at just $25 per month
0:20.4	for $1 million of coverage. Some options offer coverage in as little as a week and
0:25.0	avoid unnecessary medical exams. Policy Genius has licensed agents who can help you find the
0:30.0	best fit for your needs and they work for you not the insurance companies they are not
0:34.7	incentivized to recommend one insurer over another so you can trust their guidance and
0:39.3	there are no added fees and your personal details are private and no wonder they have thousands of five star reviews on Google and trust pilots.
0:48.0	Listen, your loved ones deserve a financial safety net. You deserve a smarter way to find and buy it. So head a Policy Genius.com
0:55.1	or click the link in the description to get your free life insurance quotes and see how much
0:59.8	you can save. That's Policy Genius.com. A little extra money helps everyone live their best lives
1:07.9	and Chimes online checking account is here to help you live yours. With Chimes online
1:12.4	checking account you can enjoy lots of perks, like
1:15.0	fee-free overdrafts up to $200. You can even get paid up to two days early with direct deposit.
1:21.9	No more pesky overdraft fees and no impact on your credit
1:24.7	score to apply. And you can pay friends through Chaim, no matter what bank account they use,
1:29.7	and cash out your money fee free. Signing up for Chime takes just minutes. So join the millions
1:35.3	of Chime members and sign up today. Get started at chime.com slash PFP. That's Chime.
1:42.1	dot com slash PFP.F.P. that's Chime.com slash PFP. Chime is a financial technology company, not a bank.
1:47.4	Banking services and debit car provided by Bank Corp. N. A. or Stride Bank N. A. Members,
1:52.0	FDIC.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Andrew Giancola, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Andrew Giancola and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.