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Adam Torkildson

๐Ÿ‘ค Speaker
231 total appearances

Appearances Over Time

Podcast Appearances

Proven Podcast
Legally Pay Less Taxes

And I don't know exactly how to calculate the ROI on 130% tax advantage, but it just means that the money I've spent is essentially, I make it back in that first year, and then everything after that is pure profit. That's basically how I think of it. Is that a good way to think about that?

Proven Podcast
Legally Pay Less Taxes

Yeah. And I agree. I, the very first brick and mortar, uh, investment I made was a total disaster. It was a hair salon. It was only a couple of blocks from my house. So I thought it'd be easy to manage, uh, And it cost me about as much as a really expensive MBA would cost. And so I look at that as my MBA in business because I learned a lot about what I'm not good at in those operations.

Proven Podcast
Legally Pay Less Taxes

Yeah. And I agree. I, the very first brick and mortar, uh, investment I made was a total disaster. It was a hair salon. It was only a couple of blocks from my house. So I thought it'd be easy to manage, uh, And it cost me about as much as a really expensive MBA would cost. And so I look at that as my MBA in business because I learned a lot about what I'm not good at in those operations.

Proven Podcast
Legally Pay Less Taxes

Yeah. And I agree. I, the very first brick and mortar, uh, investment I made was a total disaster. It was a hair salon. It was only a couple of blocks from my house. So I thought it'd be easy to manage, uh, And it cost me about as much as a really expensive MBA would cost. And so I look at that as my MBA in business because I learned a lot about what I'm not good at in those operations.

Proven Podcast
Legally Pay Less Taxes

And I learned what to look for in future investments. And that's all that I use those opportunities and those experiences for. And I like that you brought up Bitcoin first, even though you're not in it at all. I just wanted to say, for me, it fits my investment thesis. Because the way that I invest, it's through mining Bitcoin specifically. I'm not going out and purchasing any Bitcoin myself.

Proven Podcast
Legally Pay Less Taxes

And I learned what to look for in future investments. And that's all that I use those opportunities and those experiences for. And I like that you brought up Bitcoin first, even though you're not in it at all. I just wanted to say, for me, it fits my investment thesis. Because the way that I invest, it's through mining Bitcoin specifically. I'm not going out and purchasing any Bitcoin myself.

Proven Podcast
Legally Pay Less Taxes

And I learned what to look for in future investments. And that's all that I use those opportunities and those experiences for. And I like that you brought up Bitcoin first, even though you're not in it at all. I just wanted to say, for me, it fits my investment thesis. Because the way that I invest, it's through mining Bitcoin specifically. I'm not going out and purchasing any Bitcoin myself.

Proven Podcast
Legally Pay Less Taxes

I did buy mining machines from an outfit in Texas, and the full expense of each of those servers was a tax write-off because it's a hard physical asset. And so I got my tax advantage, and the price of Bitcoin has been high enough on average ever since I started that it's consistently brought me a monthly profit. Sometimes the profit is crazy good. Sometimes it's just the barest, thinnest margin.

Proven Podcast
Legally Pay Less Taxes

I did buy mining machines from an outfit in Texas, and the full expense of each of those servers was a tax write-off because it's a hard physical asset. And so I got my tax advantage, and the price of Bitcoin has been high enough on average ever since I started that it's consistently brought me a monthly profit. Sometimes the profit is crazy good. Sometimes it's just the barest, thinnest margin.

Proven Podcast
Legally Pay Less Taxes

I did buy mining machines from an outfit in Texas, and the full expense of each of those servers was a tax write-off because it's a hard physical asset. And so I got my tax advantage, and the price of Bitcoin has been high enough on average ever since I started that it's consistently brought me a monthly profit. Sometimes the profit is crazy good. Sometimes it's just the barest, thinnest margin.

Proven Podcast
Legally Pay Less Taxes

And that's where a lot of people really have a tough time putting any money into it because of the volatility. And I get that. So if you want to look into Bitcoin as an investment strategy, there's a lot of research that you can do. Google exists for that reason. And I can even point you in the direction of some really smart people to talk to.

Proven Podcast
Legally Pay Less Taxes

And that's where a lot of people really have a tough time putting any money into it because of the volatility. And I get that. So if you want to look into Bitcoin as an investment strategy, there's a lot of research that you can do. Google exists for that reason. And I can even point you in the direction of some really smart people to talk to.

Proven Podcast
Legally Pay Less Taxes

And that's where a lot of people really have a tough time putting any money into it because of the volatility. And I get that. So if you want to look into Bitcoin as an investment strategy, there's a lot of research that you can do. Google exists for that reason. And I can even point you in the direction of some really smart people to talk to.

Proven Podcast
Legally Pay Less Taxes

They will take your phone call and just chat with you because they love promoting Bitcoin. And they're really, really smart people. So I like talking to smart people as opposed to only using Google. And that's why I love meeting people like Charles. He's now someone that I can email and ask something to if I need to. And I like having that network available to me.

Proven Podcast
Legally Pay Less Taxes

They will take your phone call and just chat with you because they love promoting Bitcoin. And they're really, really smart people. So I like talking to smart people as opposed to only using Google. And that's why I love meeting people like Charles. He's now someone that I can email and ask something to if I need to. And I like having that network available to me.

Proven Podcast
Legally Pay Less Taxes

They will take your phone call and just chat with you because they love promoting Bitcoin. And they're really, really smart people. So I like talking to smart people as opposed to only using Google. And that's why I love meeting people like Charles. He's now someone that I can email and ask something to if I need to. And I like having that network available to me.

Proven Podcast
Legally Pay Less Taxes

Yeah. I actually only have one more tax strategy worked. And this is in a very specific use case. And it's around health insurance. And I know a lot of people really... I know a lot of W-2 people who, when they're looking for jobs, they always look at, what benefits can I get by working at this particular job? I have not looked at life that way for a really long time.

Proven Podcast
Legally Pay Less Taxes

Yeah. I actually only have one more tax strategy worked. And this is in a very specific use case. And it's around health insurance. And I know a lot of people really... I know a lot of W-2 people who, when they're looking for jobs, they always look at, what benefits can I get by working at this particular job? I have not looked at life that way for a really long time.

Proven Podcast
Legally Pay Less Taxes

Yeah. I actually only have one more tax strategy worked. And this is in a very specific use case. And it's around health insurance. And I know a lot of people really... I know a lot of W-2 people who, when they're looking for jobs, they always look at, what benefits can I get by working at this particular job? I have not looked at life that way for a really long time.

Proven Podcast
Legally Pay Less Taxes

So I don't understand that mindset myself. But... I invested in a company that this is all they do. They're experts at setting up these group health insurance plans in a very specific way that helps lower a very specific type of tax for the small business owner. And it adds money on to the W-2 employee's paycheck. And it gives them some, what I think are pretty amazing benefits.