Jaspreet Singh

Or if I own a short-term rental, I can offset this income.

But there are certain things that I can do to make money and pay less money in taxes.

Why does that matter?

Because let's go back to what we were talking about in the beginning.

If you pay a 1% fee, that can eat up a quarter of your investment portfolio.

What is one of the biggest expenses that the average person pays?

It's taxes.

It's not just your income tax.

I make my income tax, and then I also have to pay my payroll tax, my Social Security and Medicare.

When I go to the store and I buy something, I have to pay my sales tax.

If I buy a house, I have to pay a property tax.

And if my house goes up in value, my property tax goes up.

If I die with a lot of money, I have to pay an estate tax.

Now we have to think about tariff taxes.

If you live in California, you have to think about your state and local taxes because some states have very high state and local taxes.

Don't forget about your capital gains taxes.

You buy a stock and sell it for property.

You have to pay a capital gains tax.

Don't forget now about the corporate taxes that corporations have to pay.

Now on top of that, you have all the other taxes, your cigarette taxes, your alcohol taxes, your toll taxes.