This 16:47 YouTube video gives the viewer strategies to legally avoid paying taxes. Kris Kohn explains how owning a property or a business can give investors all kinds of tax breaks to defer tax obligations, while creating a positive cash flow.

https://www.youtube.com/watch?v=Ldw5nH9vJ0k

Multiple Choice Questions

1. When someone can lower their total tax liability, it is considered

• A tax deduction
• A tax credit
• A tax evasion
• A tax discount

2. One of the benefits that accrues due to owning a LLC (Limited Liability Corporation) is

• One can work from home and deduct part of their mortgage
• One can take off the cost of all their meals as part of business-related expenses
• One can deduct charitable donations up to 20%
• One can deduct all their transportation costs

3. When a person swaps one property for another, possibly of a higher or equal value

• It is considered an equal exchange
• It is considered taxable exchange
• It is considered a 1031 Exchange and capital gains are tax deferred
• It is considered a capital gains transaction

4. The mechanism through which investment property owners generate a positive cash flow and yet lower their taxable income is

• Depreciation
• Appreciation
• Tax credits
• Tax ax deductions

5. Kris Kohn in his video speaks of all the strategies to legally avoid paying taxes except

• Start a business
• Sell hour house when your property value goes up
• Do a 1031 Exchange
• Refinance your home to get extra cash