Rich People's Tax Credit Scheme, Harvard's Healthy Finances & My9

My First Million

Hubspot

Business, Entrepreneurship, Investing

4.7 • 2.9K Ratings

🗓️ 25 April 2023

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 447: Shaan Puri (@ShaanVP) and Sam Parr (@TheSamParr) talk about the rich people tax credit scheme, Andrew Wilkinson's Tiny goes public, Harvard is a multi-billion dollar tax-free revenue, and Shaan's latest business idea - My9. Click here to sign up for our event in Austin, TX on Saturday April 29th: mfmpod.com/atx Want to see more MFM? Subscribe to the MFM YouTube channel here. Check Out Sam's Stuff: * Hampton * Ideation Bootcamp * Copy That Check Out Shaan's Stuff: * Power Writing Course * Daily Newsletter ----- Links: *We Work Remotely *Higher Ground * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. ------ Show Notes: (01:22) - Rich People Tax Credit Scheme (11:45) - Ramit Sethi debrief (15:15) - Martin Shkreli debrief (20:32) - Deep Dive on Andrew Wilkinson's Tiny Going Public (36:50) - Harvard's revenue (47:45) - My9 ------ Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. ----- Additional episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto * #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Transcript

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0:00.0	So you put down let's say 150K, you put down 150K cash and you get a million dollar
0:05.2	deduction.
0:06.2	Oh my gosh.
0:07.2	So let's say in California, a million dollar deduction is saving you $400,000 of taxes.
0:13.6	All right, we're live.
0:22.5	What's going on?
0:23.5	Can I tell you about a cool rich people tax credit scheme I discovered?
0:27.2	Yep.
0:28.2	So actually a mutual friend of ours is the one who put me on to this, but I won't say
0:33.0	his name because you know, never talk about another man's taxes.
0:36.5	So when we sold the milk road, I was like, oh man, how do you reduce taxes in a situation
0:45.2	like this?
0:46.2	Is there anything I could do?
0:47.2	And I think we sold in October.
0:48.2	So it was like, you know, because this windfall of profits in October, is there anything
0:53.1	between October and December I could do to lower taxes?
0:55.4	And I looked into what are different options.
0:57.4	What are the legal clear by the book options that I could do?
1:03.2	And when most people try to generate large, you know, deductions or write offs, they typically
1:09.2	think of what?
1:10.6	A car.
1:11.6	Car.
	...

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