In this episode, I explain the concept of gifting equity, particularly in real estate scenarios, and the associated gift tax implications. I walk through a scenario where parents sell a house to their children at a lower price, discussing the need for a gift letter and the $17,000 annual gift tax exemption. No action requested, just valuable insights on gifting equity and tax considerations.

Thank you for listening to another episode of the Wealth Game Podcast.

The goal is to get informal yet actionable advice directly to business owners and investors.

The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.

For topic suggestions, questions to cover, or collaboration requests please email admin@wealthgame.io.

For additional information and links to all available platforms please visit our website at www.wealthgame.io

Contact Us:

Website: https://links.wealthgame.io

Connect with Brent Bement:

LinkedIn: www.linkedin.com/in/brentbement

TikTok: www.tiktok.com/@brent_bement

Twitter: www.twitter.com/WealthGamePod

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Instagram: www.instagram.com/wealthgame.io

Facebook: www.facebook.com/wealthgamepodcast

YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig

In this video, I introduce the POND method to determine if expenses are deductible for your business or rental property. The acronym POND stands for Purpose, Ordinary, Necessary, and Documentation. I explain how each factor plays a crucial role in identifying deductible expenses. No action requested from viewers.

Thank you for listening to another episode of the Wealth Game Podcast.

The goal is to get informal yet actionable advice directly to business owners and investors.

The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.

For topic suggestions, questions to cover, or collaboration requests please email admin@wealthgame.io.

For additional information and links to all available platforms please visit our website at www.wealthgame.io

Contact Us:

Website: https://links.wealthgame.io

Connect with Brent Bement:

LinkedIn: www.linkedin.com/in/brentbement

TikTok: www.tiktok.com/@brent_bement

Twitter: www.twitter.com/WealthGamePod

Threads: www.threads.net/@brentbement

Instagram: www.instagram.com/wealthgame.io

Facebook: www.facebook.com/wealthgamepodcast

YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig

In this video, I discuss how you can write off travel expenses and maximize your tax savings. I explain the importance of having a valid reason for your trip, such as meeting clients, attending conferences, or visiting properties. I also provide examples of deductible expenses, including flights, hotel stays, and food. Watch this video to learn how to take advantage of travel expense deductions and save money on your taxes.

Thank you for listening to another episode of the Wealth Game Podcast.

The goal is to get informal yet actionable advice directly to business owners and investors.

The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes.

For topic suggestions, questions to cover, or collaboration requests please email admin@wealthgame.io.

For additional information and links to all available platforms please visit our website at www.wealthgame.io

Contact Us:

Website: https://links.wealthgame.io

Connect with Brent Bement:

LinkedIn: www.linkedin.com/in/brentbement

TikTok: www.tiktok.com/@brent_bement

Twitter: www.twitter.com/WealthGamePod

Threads: www.threads.net/@brentbement

Instagram: www.instagram.com/wealthgame.io

Facebook: www.facebook.com/wealthgamepodcast

YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig