Wealth Game

Dec 09 2024 131 ep. 8 mins 5
Wealth Game Podcast artwork

Ever wondered why the "wealthy" pay such a low tax rate? Grow your wealth through smart investments, and keep more of your wealth by reducing your taxes. Hosted by Brent Bement, CPA, CVA: Real estate investor and President of a CPA firm that provides tax and investment strategy services across the nation.

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131 - Introduction to the Bement & Co Tax Personas

Dec 09 2024 10 mins  
In this video, I introduce five tax personas to help you identify with specific tax strategies tailored to your unique situation. I encourage you to relate to more than one persona and focus on strategies that apply specifically to you. Acknowledging your persona will streamline your tax planning journey.   Thank you for listening to another episode of the Wealth Game Podcast.

130 - 10 of 10 Trump vs Harris Tax Battle - And the winner is....

Nov 05 2024 21 mins  
In this video, I analyze the tax proposals of Trump and Harris, focusing on different taxpayer personas like Investor Erwin, Employee Ed, Retired Roger, and Self-Employed Sheila. I discuss how each proposal may impact various income brackets and types of earners, ultimately declaring Trump as the winner with three points to Harris's one. I provide insights on potential benefits and

129 - 9 of 10 Trump vs Harris tax battle - Death and Estate tax

Nov 04 2024 8 mins  
In this video, I delve into the intricate details of the estate tax differences between Trump and Harris, focusing on the current $13 million limit and the proposed changes. I explain the implications of exceeding the limit, the tax percentages, and the impact on inheritances. Viewers are urged to consider estate planning strategies based on the potential policy shifts depending on

128 - 8 of 10 Trump vs Harris Tax Battle - Real Estate Investors

Nov 03 2024 6 mins  
In this video, I delve into the tax strategies of real estate investors, focusing on the impact of policies by Trump and Harris. I discuss Trump's bonus depreciation and opportunity zones, highlighting how they can accelerate investments and reduce tax burdens. On the other hand, Harris's focus on low-income housing tax credits is explored, offering potential benefits for W2 employ

127 - 7 of 10 Trump vs Harris Tax Battle - Renewable Energy Tax Credits

Nov 02 2024 7 mins  
In this video, I delve into the specifics of green energy tax credits under the Biden and Trump administrations, focusing on solar, wind, and electric vehicle incentives. I explain the current solar tax credit benefits, potential future expansions, and the differences in approach between the two sides. No specific action is requested from viewers, but I provide insights and predict

126 - 6 of 10 Trump vs Harris Tax Battle - Can Tariffs Replace Income Taxes

Nov 01 2024 15 mins  
In this video, I delve into the potential implications of replacing income tax with tariffs, exploring how it could affect businesses, prices, and overall economic dynamics. We discuss the concept of VAT tax, payroll taxes, and the shift towards domestic production. No specific action is requested, but it prompts viewers to consider the broader economic consequences of such a tax p

125 - 5 of 10 Trump vs Harris tax battle - Itemized Deductions Removing $10k cap on Property Tax Deduction

Oct 31 2024 6 mins  
In this video, I delve into the intricate details of itemized deductions in the ongoing tax battle between Trump and Harris. Exploring the implications of removing the $10,000 cap on state and local tax deductions, I highlight how this change could impact high-income earners and the middle class. No action requested from viewers. Thank you for listening to another episode of the W

124 - 4 of 10 Trump vs Harris Tax Battle - Corporate Tax Rates

Oct 30 2024 6 mins  
In this video, I delve into the differences between Trump and Harris's proposals regarding corporate tax rates. Harris suggests raising the rate to 28%, while Trump aims to maintain it at 21% with additional incentives. I discuss the potential impacts on businesses, job creation, and the economy, emphasizing the importance of incentivizing domestic production. No specific action is

123 - 3 of 10 Trump vs Harris Tax Battle - Tax Free Income

Oct 29 2024 5 mins  
In this video, I delve into the tax exemption proposals by Trump and Harris. Trump's proposals include tax-free tips, overtime, and Social Security income, potentially benefiting many. Harris, however, has not put forth any tax exemption proposals, focusing instead on credits for renters and child tax credits. No action requested. Thank you for listening to another episode of the

122 - 2 of 10 Trump vs Harris Tax Battle - 100% Bonus Depreciation or Business Standard Deduction

Oct 28 2024 9 mins  
In this video, I delve into the tax proposals of Trump and Harris regarding businesses. Harris suggests increasing the startup deduction to $50,000, aiming to support entrepreneurs. Trump's plan includes a 20% deduction on net income, benefiting small business owners. No government checks are involved; deductions reduce taxable income. The most significant proposal is the potential