How to Pay Your Credit Cards with Tax Free Dollars - Episode 625
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 13 May 2020
⏱️ 10 minutes
🧾️ Download transcript
Summary
So you want to pay your credit cards with tax-free dollars? On today's show, you're going to learn a financially intelligent way to maximize the money in your family business. You're going to learn how to make the most out of your credit cards by (legally) taking advantage of the way we run our business.
On this episode of Investing in Real Estate, we're diving deep into how we pay our children for age-appropriate work, and the IRS regulations on taxing their income. You'll learn about the types of expenses they can pay for with their tax-free dollars, and more!
Transcript
Click on a timestamp to play from that location
| 0:00.0 | So you want to pay your credit cards with tax-free dollars? Yeah, of course you do. |
| 0:10.0 | Hey everyone, I'm Clayton. I'm Natalie. And this is the show where we help you build financial intelligence so you can build financial freedom. |
| 0:17.2 | Now we've built our financial freedom using buy and hold real estate, but we've also done it very intelligently using credit cards, loans, all sorts of |
| 0:26.4 | different strategies. |
| 0:27.4 | So today we wanted to talk about credit cards because we've got an incredible strategy |
| 0:30.8 | for you. |
| 0:31.4 | And I think this really goes to people who have children now if you're |
| 0:35.6 | watching you're like what is it good I don't have kids I'm gonna flick off I'm not |
| 0:38.3 | gonna listen no no you've got to stick around to the end because it will make you |
| 0:41.6 | want to have kids it will make you want to have kids but it also if |
| 0:44.2 | you're about to have kids or you thinking about it in a few years this strategy |
| 0:47.5 | will blow your mind okay so this is a little unorthodox and I'm gonna try to go |
| 0:51.5 | slow because I want to make sure you follow me now |
| 0:54.9 | you know when you get a credit card bill for a thousand dollars you have to earn |
| 1:00.9 | more than a thousand dollars to pay it right because you're taxed on your money so you have to pay |
| 1:06.9 | Earn like twelve hundred dollars pay taxes on that twelve hundred dollars and have one thousand left over to pay the credit card. |
| 1:13.5 | Okay, so we agree on that. |
| 1:14.8 | You now pay your credit card with post-tax dollars. |
| 1:18.9 | Your net, your net amount, right? |
| 1:21.4 | What if you could pay your credit card bills and therefore the |
| 1:25.1 | expenses that you're buying with pre-tax dollars? What can you do that? Okay so |
| 1:29.6 | here's how you do it. Now we've talked before about how we pay our children a salary out of |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Clayton Morris, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Clayton Morris and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

