ilmscore | Prediction Details
"the IRS tax code essentially pass you on the back if you create your own income or if you are an investor so let me explain what this means if you are a W2 employee and all you earn income from is the job that you go to to get a paycheck for the work that you put in and you are a WTO employee then what happens is you make money from your job you're going to pay taxes and this is probably going to be automatically deducted out of your paycheck and then you get to spend whatever is left so now if you want a car you got to spend this money after tax dollars if you want a phone you got to spend these after tax dollars if you want to go to California you got to spend these after tax dollars if you create your own income so if you are a business owner you're a 1099 worker now you're creating your own income now it's a little bit different so I'll call this your own income now you're going to make money whether it's from your business or a 1099 income and then you get to spend this money because now you can have qualified business expenses"
By Minority Mindset | September 17, 2023 | Pending
From video
How To Stop Paying Taxes (Legally) & Build Your Financial Freedom | Jaspreet Singh 00:30:52 - 00:31:50
Interpreted Prediction
The IRS tax code favors investors and business owners by allowing them to deduct business expenses before calculating taxable income, unlike W-2 employees who pay taxes on their income first.

Prediction Details

Topic
Investor/Business Owner Tax Advantages

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