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Why paying taxes actually benefits you - How to buy a house - Flip a house - PAY YOUR TAXES OR DIE

4,855 views · Published 16 October 2016 · 12:44 · Indexed 9 October 2026

Channel: Trading Fraternity · 2016 · Education

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If you have been looking for ways to avoid paying taxes, you’re doing it wrong. Contrary to popular belief, it is actually better to pay your taxes or to pay more taxes, as opposed to looking for ways to avoid paying taxes. A lot of people don’t want to just fork over their hard earned money to Uncle Sam and get nothing in return, so a lot of people report less as their income or report higher expenses so that they don’t have to. A lot of industries like trucking or plumbing where workers can get paid a lot in cash, a lot report only half their income. Though there is a benefit of keeping your hard earned cash, it may be better to pay those taxes so you can purchase a home.

As I talk about in this video, the main reason why most of you would want to pay your taxes is so that you can get a home loan or mortgage so that you can buy a house to live in or to flip a house. That is the number one reason why I recommend you guys pay your taxes, because come time to get a mortgage, if you report low income to pay low taxes, you might not qualify for a home loan or will get approved on an amount significantly smaller than what you can afford. Like I say in the video, this isn’t always a bad thing, however you should at least be aware of this so that you can plan what you report for taxes so that it aligns with how much of a home loan you are trying to get so that you can get into real estate.

I also talk about taxes related to trading options and stocks, and even capital gains taxes, as a lot of people overlook these crucial taxes that ultimately get factored into your net profit and can sometimes be the difference between making money and actually losing money. I strong recommend you all get a professional tax advisor who can help you plan for your financial future as you can share with him the fact that you trade options or stocks and that you are looking to get a home, and they should be able to help you out. The big takeaway as far as options trading and stock trading goes though is that you have to pay taxes on money you make that is produced off of holding for less than 12 months. So if you are day trading or even swing trading, or pretty much any type of trading most of you guys do, you will be required to pay taxes on what you make, so DO NOT FORGET THIS as it can come back around and bite you in the butt out of nowhere. So again, make sure you get a professional tax advisor, they do not cost a lot (although they do sound fancy) and they can save you a world of pain!

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