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
- When someone can lower their total tax liability, it is considered
- A tax deduction
- A tax credit
- A tax evasion
- A tax discount
- 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
- 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
- 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
- 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
Leave a Reply