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Capitalism.com with Ryan Daniel Moran

Maximizing The New Tax Bill and Navigating Amazon State Taxes w/ Tom Wheelwright #TheOnePercent

Capitalism.com with Ryan Daniel Moran

Capitalism.com

Entrepreneur, Amazon, Lifestyledesign, Investing, Startup, Ryandanielmoran, Finance, Cashflow, Freedomfastlane, Lifestyle, Business, Passiveincome, Financialfreedom, Entrepreneurship

4.8793 Ratings

🗓️ 10 September 2018

⏱️ 52 minutes

🧾️ Download transcript

Summary

Tax laws for business owners, especially those who sell physical products, have changed.

After the new tax law went into place the person whose expertise I trust the most is former Capitalism Conference speaker Tom Wheelwright.

Stay ahead of the curve on what to do with your taxes this year and how to take advantage of some changes that have taken place with the tax law. You could stand to lose, or gain, a small fortune.

 

Transcript

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0:00.0

Well, because they don't understand it.

0:02.1

That's the challenge.

0:03.7

And so it's just so important that you have CPAs who understand your business and understand their business.

0:11.0

And most CPAs, frankly, don't understand either one.

0:13.8

It takes one free person to create change.

0:18.0

One percent bold enough to bend the rules, curious enough to chart new territory.

0:24.6

This is the show for them. While the other 99 watch their best opportunities, their potential,

0:31.6

their health, and even their legacy slip away. We are different. We question the system.

0:39.2

We create new possibilities.

0:41.5

And we pursue the edges of every area of life.

0:45.3

My name is Ryan Daniel Moran and I'm an entrepreneur and an investor.

0:49.6

I'm an independent, a father, a skeptic.

0:52.9

I'm on a journey just like you. Others may watch us, question

0:57.5

us, even blame us, and tax us, but we press on in a relentless pursuit of freedom. We are

1:04.9

the creators of the free world. This is capitalism.com and we are the 1%.

1:12.4

I got some good news for you. Look, I called up president and it was like, look, Donnie,

1:23.0

taxes are too damn high. And we need to do something about that. And he was like, Ryan, you're fired, but you're right. I'm going to have the most beautiful, the biggest tax cut. Why does he sound like Bernie Sanders in this impression? I'm not sure. Probably because Bernie was behind him going like, there will never be another tax cut. Anyway, listen, I'm obviously in a good mood because, as you

1:46.5

are familiar, we're now seven months into the new tax law, the new tax code. And there are some

1:54.6

really interesting incentives for entrepreneurs. And there are some interesting incentives for

1:59.6

physical products entrepreneurs. However,

2:02.0

there's also some bad news that has come out recently about the way that maybe states are going

2:08.9

to police you and me if we sell physical products on the internet even on Amazon. So that's

...

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