How To Achieve Financial Freedom by Reducing Your Taxes , An Interview with Eric Freeman, CPA, Part 2

passive income taxes Jun 14, 2019
 

This is part two of a (2) part video series.   If you missed part I, you can watch it here.  A major component of the Financial Freedom Formula (F3) methodology which helps anyone achieve Financial Freedom Quickly with Tax Efficient Passive Income, is to reduce one’s taxes.  Therefore, this week’s video will focus on that part of the methodology.   Here is a summary of what you will learn by watching the video:

  • How Has Tax Reformed Impacted CPAs and Real Estate Investors?
  • What is the 20% Pass Thru Deduction?
  • What Is Bonus Depreciation?
  • What is Section 179?
  • What do you recommend people do to mitigate the financial impact of the $10k maximum deduction for State and Local Income Taxes (S.A.L.T)?
  • Any Changes to 1031 Exchanges?
  • What is an Opportunity Zone and how does one benefit?
  • What is a Real Estate Professional (REP)?
  • How does one become a Real Estate Professional?
  • What is a Cost Segregation Study and how does this benefit...
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How To Achieve Financial Freedom by Reducing Your Taxes - An Interview with Eric Freeman, CPA, Part 1

passive income taxes Jun 07, 2019
 

This is part one (1) of a two (2) part video series.  As you may recall, a major component of the Financial Freedom Formula (F3) methodology which helps anyone achieve Financial Freedom Quickly with Tax Efficient Passive Income, is to reduce one’s taxes. 

Therefore, this week’s video will focus on that part of the methodology.   Here is a summary of what you will learn in the interview:

  • How Has Tax Reformed Impacted CPAs and Real Estate Investors?
  • What is the 20% Pass Thru Deduction?
  • What Is Bonus Depreciation?
  • What is Section 179?
  • What do you recommend people do to mitigate the financial impact of the $10k maximum deduction for State and Local Income Taxes (S.A.L.T)?
  • Any Changes to 1031 Exchanges?
  • What is an Opportunity Zone and how does one benefit?
  • What is a Real Estate Professional (REP)?
  • How does one become a Real Estate Professional?
  • What is a Cost Segregation Study and how does this benefit Real Estate Investors?
  • How does one find a good CPA...
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April 15th - Tax Day for US Tax Payers

debt taxes Apr 15, 2019

 

April 15th which is Tax Day for US Tax Payers. Therefore, I thought you may be interested to read the latest Financial Report of the US Government to learn more about Your Money. 

You can access the latest report via this link.

If your taxes are increasing year over year, why continue doing the same thing and expecting a different outcome.  That is the definition of insanity.  

Take control of your financial future by learning more about your money.   Here is a chart from page 5 below.   


 

The US Government is telling you directly that their spending will increase.  Thus, so will your Taxes.  To believe otherwise is negligent. 

This past weekend I went to dinner with a few friends.  One of the individuals shared their inability to pay their tax bill, although he earned in excess of 7 figures in 2018.  

Don't be like this individual.  Take care of your financial...

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The Ultimate Guide to Pay Zero Taxes & Live in California or any other High Income Tax State

taxes Apr 12, 2019

You've heard me mention 1000 times that the way you earn your income determines how much you pay in taxes. 

I am proud to admit that I pay zero taxes legally and I reside in California, which has the highest state income taxes in the Union.

The way that I am able to pay zero in Taxes is by earning my income Passively.   The chart below is how I earn my income today.

 

Notice in the chart that I earn 100% of my income Passively.  Earning Passive Income instead of Earned/Active Income provides significant Tax Advantages. 

The advantages are available to anyone if they partner with the Government.  The government wants all citizens to provide jobs and/or housing for the citizens of its country.  The more patriotic and generous an individual, the least they pay in taxes. 

But it wasn't always this way.  Once upon a time, 100% of my income was Active/Earned Income.  But I realized that I had to change the way I earned my...

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How To Build Wealth Fast with Value Added Real Estate

 

I just released a new video in which I share How to build wealth by doing Value Added Real Estate

You can watch by clicking the graphic below or playing the above video.


In the video, I discuss WHY I do Value Added Real Estate. 

 

Primarily, it's due to my desire to print money legally, to prevent myself from becoming extinct with the others in the rapidly deteriorating middle class.

 

As you can see in the chart below, the middle class has dwindled and will continue until it becomes extinct by moving to either the upper or the lower classes.

 

 

As I explained in the video, the main reason the middle class is shrinking is due to Income Taxes and Inflation. 

 

Therefore, to prevent yourself from going into extinction by moving to the lower class implement the steps located on this link. 

 

I made my choice so and can help you too.

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Learn the four (4) types of income and Tax Rates

passive income taxes Mar 01, 2019
 

 

I just released a new video explaining the four (4) types of income and Tax Rates and the fastest path for anyone to build Wealth.  You can watch the video on this page or on our Youtube channel by clicking the graphic below:

As explained in the video, if you want to move to the right side of the quadrant, learn the three (3) simple steps for free.

To reiterate, the sooner you move to the right side of the quadrant, the faster you can reduce your taxes, such as mitigating the negative implications from the $10k maximum S.A.L.T. deduction and build wealth for yourself.

Gena Lofton

 

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How To Reduce Your Largest Expense - Taxes

expenses s.a.l.t taxes Feb 21, 2019
 

For most people, Taxes are their largest expense.  Therefore, unless you reduce your largest expense, Financial Freedom is elusive, and will always be an illusion, so be sure to watch the video where I share the three (3) choices one has to reduce their largest expense.  

If you a) reside in a high-income tax state and b) earn an above average income, you may find that you are paying more in Taxes as a result of the S.A.L.T deduction cap of $10,000.  

In the video, I provide the 3 choices you have in order to reduce your largest expense which will insulate you from the $10,000 cap.

Here are a few articles to help you in your journey towards Financial Freedom.

  1. If you are a high-income earner and live in a High Income Tax State, this is a great article which explains S.A.L.T, State and Local Income Tax Deductions.

  2. Here is a link to a tool that you can use to calculate your Freedom Number and how much on...

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2018 Mid Year Financial Assessment

goals income taxes May 23, 2018

 

I am leaving for China this weekend.  Visiting Beijing, ShanghaiHong Kong, and Macau.  We have a number of meetings with a few investment firms about the largest industrial project in the world, OBOR, One Belt One Road.  Over $6 Trillion is committed to the project and I have investment capital in the region.  I am excited as it's my first time visiting Asia.

I find it fascinating when people ask "Are you traveling for business or pleasure"?  Fortunately, I have NEVER separated the two (2) as what I do is business and I have lots of fun which brings me pleasure, whether it's where I reside and/or travel.  It's all the same.   I have lots of fun and make money at the same time.

I feel very sorry for those who do NOT have this as their reality.  Most likely its a result doing what they don't love.   Thus, they are working just for the money and the money doesn't bring them any...

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