The Tax & Legal Playbook The Rich Use To Beat The IRS

With the guidance of my financial advisor, Monica Mary Strigle (my FA), I retired at 50, three years earlier than planned. Her advice to diversify beyond traditional retirement accounts like 401K and IRA led me to explore rental real estate. As a Limited Partner in a potfolio of 1500+ units, I generated passive income and accumulated wealth. Thanks to Monica expertise and tailored strategies, I now enjoy a fulfilling retirement without traditional employment. Her insights in real estate investment have been invaluable on my path to financial freedom.

I signed up for the tax advisory group and paid $10,000 at the conference two weeks ago I’ve been stood up on both of my on boarding calls to get started in the program. Customer service is terrible. I can’t get a hold of anybody and there has been no support and my first impression when starting to get going has been awful. I’m not sure who’s running things there but if this is what I can expect I’m not gonna be a happy camper

If only we didn't have so much bureaucracy and overly complicated tax-codes, we wouldn't need to play these stupid games :(

Nobody's scared - just overwhelmed. Thank you for doing this.

So the asset LLC is a holding company. The trust part can be quite complicated and only seem necessary for a personal home or bank account.

Enjoyed the video. Thanks for sharing

Mark is right on the money. Here’s my current setup and timeline. 2017-Opened a small cafe LLC multi with wife. 2019- Cafe LLC “loaned” funds to our holding real estate LLC to purchase the plaza the cafe is in. With 4 other commercial tenants in plaza. All have leases with holding LLC including our cafe. Very important. Purchasing this lowered the tax burden of cafe for that year 2021. Cafe elects to be taxed as a S-Corp. 2022 to current… quit both W2 corp jobs wife and I have had for 20 years. Wife is “on payroll” taking a “reasonable comp” at Cafe. Me. I qualify for real estate professional status as I (on paper, but reality WIFE and I) self manage now 40 rentals. Because of this real estate professional status we are able to use the passive losses to offset wife’s w2 taxes from the cafe. We haven’t done the trust portion yet. Or the property mgmt LLC to do a solo 401K.

I'm in love 😂😂😂 just kidding. Great content...top-tier...the best of the best. Thank you sooo much!

thank you

Hi Mark, could you do a video on what advice you would give for fresh accounting graduates?

Mark..what tablet..electronic device did you use for your whiteboard..and what was the setup so that you could see it onscreen...Thanks..Richard

How do you move your profit from your Operational LLC to your Asset LLC?

Can you do a video on windfall $$$

Don’t you need or shouldn’t you have a different trust for homes and diff one for education for kids and diff ones for stocks and crypto etc etc? What is the difference between a trust and an LLC ?

Do you also teach us to invest excess money to lower tax burden? Another financial youtuber I like makes 1.2 million but buys real estate in cash to lower his taxable income to 80k. Would this set up help to do such a thing?

what if you're buiness is trading under an LLC? could you make a video for traders who change their captical gains tax into regular income?

I make good money on my W2 as a healthcare provider. Is there a way to transfer my W2 to an S-Corp to take advantage of all of these tax strategies?

So when you're 57 already this video is not for us?! I wish we had access to so much info when I was in my 20's (or even 30's). They need to teach some basics to everyone in high school, but they don't teach anything for life skills, etc - they just teach being a cog in the wheel at public schools.

which trust is better? revocable or irrevocable trust dont want to pay alot of taxes and dont want to own anything ..just want toanage it..any info would be appreciated

Why don’t you do trifecta in Virginia?