How to Pay Less Taxes to The IRS | Accountant Explains

Can I use the 529 plan for anything else, other than education?

Just check the “exempt” box when filling out your w-4 🤷🏻‍♂️😉

Hey thanks for this video and the YT algorithm for putting it in front of me.

I found about $5500 I was going to have to spend in early 2024, but moved up the schedule to get the reduction to my tax liability.

Best part is I have 90 payment terms from where I paid it, so I should have my tax return efiled and direct deposited by the time the payment is due.

I’ll take the small win.

Thanks.

Even the oriole at h & r block didn’t know 0 long term gains tax

Adam seem so greedy
Always asking for Cash 💷
SMH

That's the best explanation that I have seen. Thanks for making it. I have another question about the Premium Tax Credit: how did they calculate it?

Thank you for your videos.

Great video, thanks! You’re reminding me to purchase things I need for my small business NOW.

It’s great info, but this doesn’t apply to the “regular” American person.

I dis this, and got arrested… not recommended 🙄

Thanks again Brian! Very informative. :)

Are there deductions for home improvement, solar panels, hoa fees, mortgage interest acceleration payments etc?

Does the wash rule applies to crypto??

Brian is the best

You do pay taxes on Roth on the gains if you take the money out before retirement
The capital losses from stock are limited to $3,000 on your personal income

SPIDERMAN!

Summary:
#1: 0% Tax Rate on Long Term Investments
#2: Tax Loss Harvesting (Capital Loss Offest)
#3: Roth Conversions
#4: 529 Plan (Education Investment Account)
#5: HSA Contributions
#6: Timing Your Expenses

Do i pay tax on moving money on regular checking account to rollover ira? I am super beginner

The wash sale rule can be avoided when you sell and buy etfs that track the same pool of stocks

Please add time stamps

Do you still take clients for taxes? 😅

Happy Christmas 🎄

Check with car/ house insurance company. Mine comes out of my check, pre-tax.

pov: ur 17 wacthing this so when u move out u can save as much money asp

you didn't tell the gain include in total income or not.?

How to allow your young children (working age) to do this with money from parents?

How did he get 60k single 0% tax free long term investments when IRS website says 47k

Do we get credit for paying
out side life insurance

Thank you. Merry Christmas and happy new year. 🎉🍷

so if you don't use up the FSA you're burning money? who gets that money at the end?

Taxes are theft and need to simply disappear!!

Can I make an HSA account if my work doesn’t offer it?

now do the same for companies.

If I have $5000 to spend on stocks before Dec 31, How will I not have to pay tax on the $5000? Or am I misunderstanding this?

Do stock losses offset earned income? No right?

Thank you

All of this is true.

Will definitely recommend anyone this channel for financial help❤

If i had 7000 capital loss carryover from last year and my only income this year was long term capital gains of 10000 will i still have to use my carryover to offset my long term capital gains even though there won’t be any tax benefits. In other words and can i save the 7000 carryover for another year or will i be forced to use it

Your numbers are pretty far off on the long term capital gains! Married filing jointly becomes taxable over $89,250 and Single is over $44,625 and for head of household is over $59,750. Not sure where you got your numbers wrong, but you need to change this video so you don't mislead anyone.

You also forgot to mention the new rule regarding 529s to Roth IRA conversions if not used (The account has to be open for 15 years)

I really liked the illustrations. Very visual for me. Thank u for this video.

The design is very legal

"less tax" or "fewer taxes," not "less taxes"

But isn't roth account penalized if you withdraw before 55 years of age?

Fuck the IRS

Why am i watching this? I dont even pay taxes

How do you start 529 plan?