Tax Expert: Huge Loopholes in Trump's Big Beautiful Bill - What No One Is Telling You! (Video)
In this 13 July 2025 video, hosts Graham Stephan and Jack Selby.talk with Karlton Dennis about the tax codes. Karlton Dennis is a renowned expert in tax strategy, dedicated to helping individuals and businesses minimize their tax burden through strategic planning and a thorough understanding of tax laws and regulations.
A tax code is a collection of individual tax statutes, rules, regulations, ordinances, or other tax laws called tax code sections. Tax codes are typically divided into titles, chapters, parts, or other organizational components.
Federal tax classification determines how the Internal Revenue Service (IRS) categorizes businesses and individuals for tax purposes. This classification is crucial because it directly impacts how income is reported, taxed, and which forms and regulations apply.
https://youtu.be/kfgTTCN_bbM
Timestamps:
00:00:00 – Intro
00:01:10 – Is the tax system rigged?
00:05:23 – Can the average person pay $0?
00:05:53 – Abolish taxes?
00:09:09 – Big Beautiful Bill tax impact
00:10:46 – No tax on tips
00:17:18 – Sponsor – Bizee
00:18:29 – $40K deduction cap
00:21:46 – 8150 tax law
00:23:57 – Trump account explained
00:26:00 – $10K auto write-off
00:28:33 – Bonus depreciation
00:29:49 – Self-rental strategy
00:37:17 – Sponsor – Range Rover
00:38:22 – Tax winners and losers
00:43:59 – What an IRS audit is like
00:45:38 – IRS audit red flags
01:01:13 – Why IRS won’t calculate your income
01:02:51 – Declined clients & horror stories
01:03:47 – Jail for unpaid taxes?
01:04:18 – Do some never file?
01:05:25 – Sponsor – Shopify
01:06:57 – Shadiest tax moves
01:08:12 – Biggest IRS fines
01:10:14 – Biggest tax bills erased
01:12:29 – Tax loopholes
01:17:09 – Tactics to reduce taxes
01:19:08 – When to stop using TurboTax
01:19:51 – Luxury goods write-offs?
01:20:28 – His income & tax bill
01:27:55 – What luxury items he buys
01:28:38 – Tracking expenses
01:31:55 – 3 tax tips for $60K–$200K earners
01:39:02 – If you rewrote the tax code
01:40:35 – Move to Puerto Rico?
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