How To Lower Your Taxes With Real Estate - Karlton Dennis
Social Proof Podcast
Social Proof Network
5 • 2K Ratings
🗓️ 1 July 2022
⏱️ 2 minutes
🧾️ Download transcript
Summary
This is a clip from Uncovered : Tax Secrets Of The Wealthy - Episode #262 w/ Karlton Dennis
Reducing your Tax Bill legally takes a trusted advisor, strategic approach, and an awareness of what "Uncle Sam" lays down as the rules of the game! Karlton Dennis has helped thousands of people put together a proper tax strategy as they are on the path to building successful business, contributing to their communities, and becoming wealthy in the process. In this episode we'll uncover the Tax Secrets Of The Wealthy. We will discuss :
- Tax Strategies Vs. Tax Planning - What the major difference is between learning how to navigate the tax code and willingly paying what you think you owe the government.
- The Truth About Trusts : Why every entrepreneur should consider having a trust and the power, freedom afforded by and strategy of contract law.
- Tax Benefits Of Owning Real Estate : Why the rich take advantage of offsetting tax benefits that having a portfolio of real estate provides.
- Phantom Expenses : How to view depreciation, opportunity to upgrade current assets, and the cost of operating business as leverage to lower your tax bill.
- Shortening The Wealth Gap : What the government and big banks had in mind when mortgage programs were created and how it affects if/how the wealth gap can be shortened.
And so much more!
Connect with Karlton : https://www.instagram.com/karltondennis/
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Transcript
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| 0:00.0 | Previously on The Social Proof Podcast, but the main reason why I went down the real estate route was because my mother used to go to this event called the apartment owner's association she had spoken at this event since 2008 so I've been seeing her give these presentations since I was like 14 15 years old and all of these people who showed up to these apartment owner's events were sitting on millions and millions of real estate but you would have never noticed by the way that they dress I'm talking about flip flops sandals |
| 0:30.0 | everything that you see a Costco that you can buy that's what they were wearing okay so like in it but they were dripped and money on the tax return and that just appealed to me they had so much time they never worked when they came into our office you know they sometimes even know what day of the week it was they were just wanting to hang out and chill and I'm like okay who has this much time and it's the real estate investors who have this much time because they figured out the game who is this tax |
| 1:00.0 | free all the time it's the real estate investors why because they become partners with the government on a different level than the entrepreneur right you see the entrepreneur is trying to serve people but you're really serving yourself if you can turn around and start a real estate business where you're running a rental operation there's only so much land and you're going into the biggest system that the government's created which is the loan system so if you can leverage OPM and then turn around and rent that property out you become a partner with the government because they know you're not going to |
| 1:30.0 | pay them back immediately they know you're looking to be in this game with them and earn interest with them here's depreciation come join the most amazing live mentorship and accountability group for entrepreneurs every morning the morning meetup you have a business idea you need to get off the ground do you currently work a nine to five and are looking for supplemental income come and network with like minded individuals and take your business to the next level every morning from eight to nine a.m. Eastern Standard Time with David |
| 2:00.0 | Chant and friends head over to the morning meetup dot com that's the morning meetup dot com |
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