How the U.S. Tax System Works

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The United States tax code is filled with rules, regulations, exemptions, exceptions, loopholes, and tax breaks. Most people have no idea how to take advantage of the tax code to minimize their taxes. As a result, they end up paying the highest possible tax rates every single year. This causes a lot of financial distress.

In this video, tax expert Karlton Dennis explains how the tax system really works and how people who are educated about key tax issues can actually save a fortune in taxes. Many of the most important tax breaks revolve around real estate investing. Karlton explains why this is the case and how you can take advantage of it.

Once you understand how the tax code really works and the various incentives that the government has sprinkled throughout it, generating substantial tax savings becomes a lot more feasible. Crucially, this video also covers why there are significantly more tax breaks available for business owners compared to W-2 employees.

CHAPTERS:
0:00 Intro
0:27 There Are Two Different Tax Systems in the U.S.
4:34 Using Real Estate Investing to Reduce Your Tax Bill
5:34 Taking Out a Loan to Buy an Investment Property
7:48 Why the U.S. Government Prefers Hard Assets
9:20 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#taxes #irs #ustaxcode