ilmscore | How to Avoid Taxes Legally in The US (Do This Now!)

How to Avoid Taxes Legally in The US (Do This Now!)

Published: 2023-01-06
Status: Available | Analyzed

Predictions from this Video

Total: 4
Correct: 0
Incorrect: 0
Pending: 4
Unrated: 0
Prediction
Topic
Status
Reporting cryptocurrency losses can serve as a tax deduction.
"if you have cryptocurrency losses make sure that you report them because losses are good for tax purposes Losses are tax deductions"
BTC
Pending
Holding stocks or cryptocurrencies for over a year before selling results in long-term capital gains, which are taxed at approximately half the rate of regular income. Individuals below a certain income threshold may qualify for a 0% federal tax rate on these gains.
"long-term capital gains receive much better tax treatments the tax rate for long-term capital gains it's about half your regular tax rates and if you're under a certain income threshold you will qualify for a zero percent tax rate in that case you will pay zero taxes at the federal level your profits will be 100 tax free"
BTC
Pending
For 2023, individuals could contribute up to $300 per month tax-free for commuting expenses, resulting in an annual tax deduction of $3,600.
"for 2023 you can spend up to 300 a month tax-free on commuting so that's basically a 300 tax deduction every month which is three thousand six hundred dollars a year"
Commuter Benefits
Pending
Income earned from renting out a home for 14 days or less per year is 100% tax-free under the minimal rental use rule.
"if you rented out your home for 14 days or less the money that you make will be 100 tax free this is called the minimal rental use rule"
Rental Income from Short-term Home Rentals
Pending