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Making Taxes Optional for Faith, Freedom, Duty and Ethics with James Bohan CPA
October 25, 2025 · 54 min
Ep 0004 - Dive into ethical and spiritual considerations of tax reduction with Main Street Capitalist and Christian James Bohan, CPA.
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Faith, Taxes, and Civic Responsibility 0:00 What if you could legally reduce your taxes to 0? Would you? Should you? Well, many Christians struggle with the spiritual, civic, and ethics of paying taxes, especially to support government spending they might0:12 not agree with. In this episode of the Christian Capitalist Show, I take on this taxing topic and extract brilliant deductions from Christian CPA James Bohan. Stay tuned.0:29 Welcome to the Christian Capitalist Show. I am your host, Russell Gray, and I am excited to be sharing with you a very good buddy of mine now, CPA James Bohan. James, welcome to the0:40 show.0:41 Thanks Thanks for having me on, Russell. Excited to be a part of this new show.0:45 Yeah. I I'm I'm excited. I've got some notes here in front of me, so I'm gonna pull them up here where I can see them a little bit. But, James, why don't you take a moment and just fill the folks in a little bit? I I I0:55 call you a Christian CPA and a Main Street capitalist. You're obviously running your own business. You got your hands in some other pods. But just give give the folks a little bit of an idea of who you are, where you1:05 come from, what you're doing today, and what your professional expertise is.1:09 Will do. So I started my career, as a CPA for Wall Street, for lack of a better word. You know, I was I came from a real estate family, and I worked for a firm that specialized for hedge funds, private equity funds.1:21 And given my background, I really slotted into the real estate fund division of this company. And this was around 2009, 2010, a little bit before the Jobs Act came through and really democratized,1:33 crowdfunding and syndicators for real estate. So I cut my teeth really learning about how these billion dollar funds would go out, buy real estate, and create these investment vehicles for real estate as an asset1:44 class that I knew so well growing up with developers and seeing how kinda Wall Street or the syndicators took approach to investing, in real estate. I did that for about 5 years. My firm got bought by1:56 KPMG. And around that time, I went back to USC to get my master's in real estate development. Graduated in the top 5 percent of my class there. Got hired by 1 of my professors to go help start a real estate2:08 lending debt fund. And so I was able to really, channel this inner entrepreneur, but for someone else, for, a few years to help build out this debt fund. We brought over,2:20 1400 LPs on board while I was there. We did over a billion dollars of loans while I was I became CFO after being the first employee. And then after about 4 years there, I I left because while I felt like an entrepreneur,2:32 I had no entrepreneurial upside. So, my boss was very gracious. He's like, you know, I've had these things come up in my career. We're never gonna be able to pay you as much as you value yourself in the mirror. So, you2:44 know, I think we best part ways. And I I agreed and I went off and, started my own CPA firm. I started doing some real estate investments. That was around 20 19, and then COVID hit. And I was working remotely already, so2:55 I just picked up my shop and moved from Los Angeles, to Idaho, which has, you know, a much more freer economy than California. And, I've met a lot of awesome kind of, Main3:07 Street, freedom minded individuals up here in Idaho, and I've helped start, a few small businesses. I I live on a farm. I started a farmer's market, and, I've been investing and re developing3:19 real estate around North Idaho along with growing my CPA practice where I really help a lot of real estate investors, entrepreneurs, syndicators, fund managers navigate the3:31 really complicated IRS code and then also the complications around setting up, administering, and and running a real estate fund.3:39 Yeah. Wow. Well, you know, we met at a real estate conference. We were at the best ever conference, and we went to a dinner. You were sitting across from me, and I was doing like I typically do. I was running my mouth3:50 and talking about a bunch of stuff, and you just sat there quietly and listened and said, you know, I think, we we probably have a lot in common. And, so I I contacted you afterwards. And, of course, we've become friends4:01 and, yeah, I continue to learn about you and your background. But I I know you're the perfect guy for this program, so I'm really excited to have you here.4:08 Yeah. It was funny. At that dinner, I felt like I was sitting across, the table from 1 of my political idols, Ron Paul, who I was a big fan of when he was running in the early, 20 tens. And it was just a lovely4:19 conversation talking about, you know, the free market, the banking system, and all that.4:23 Yeah. Yeah. Well, it's been a passion of mine. I I I got started in this whole space as, I think you know because I read, g Edward Griffin's book, The Creature from Jekyll Island when I was in the middle of homeschooling4:35 with my late wife, my then, you know, grade school, middle school children. And part of my responsibility was teaching history, American history, civics, and4:47 economics. And as I was doing the research, we didn't have YouTube in the Internet back then because I'm an old man. And so, you know, my kids my kids grew up before we had all that, which was actually kinda nice from a4:57 parent's perspective. I didn't have to deal with it. But, you know, I used to have to go to the conferences and peruse all the books in the exhibitor hall and pick out things. And as I started reading, I realized, wow,5:08 there was so much that got left out of my public education. I had no idea. And then 1 day I realized that our financial system was really, I don't know, I think corrupt,5:20 for lack of a better word, you know, the scripture, the borrower or servant to the lender, really resonated with me when I looked at our financial system, I realized the whole system is designed to put the citizenry5:32 into debt. And the income tax system is the way that debt is serviced. And so if you go back and research the history, as I know you're familiar with it, of the Federal Reserve Act, the5:44 sixteenth amendment, when we got the IRS, we got the tax code, We got the, income tax. All of that stuff happened. The Federal Reserve was born out of that central bank. We didn't have a central5:56 bank. It was our third. And that's a whole article or a whole a whole new episode. But the point of that is that I realized that my kids were gonna grow up into this system of mandatory6:08 tribute, a feudal system. And so I thought, well, I need to get into financial education to begin to wake people up. And I've been on that journey for the last 30 years. I I think it's kind of coming to a head right6:20 now, and I'm excited about that. But until the system changes, we have the system that we have. And part of that system is, I think, title 26, I believe it is, the income tax.6:32 And that's probably 1 of the biggest burdens on most people on Main Street, whether you're a small business or an employee. So what I wanted to talk about here was things that I think a lot6:43 of Christians struggle with. First of all, it's just the the faith, you know, the the spiritual command to render under Caesar what is Caesar's. And then the other part of it is theNavigating the Tax Code as Christians 6:55 ethics of being forced to pay money into a system that's doing things that you might not agree with and wish that you weren't funding. And then the civic duty of having responsibility7:08 to the community to support the common infrastructure the community needs, which ostensibly is a reason that we pay taxes, and then the stewardship responsibility. So I I wanna hit all those kind of in7:20 order. So let's just start with the faith thing. I mean, you're a Christian man, you're a Christian capitalist, you've earned money. Now you counsel people. When it comes down to just dealing with the spirituality,7:32 of and the the the the Christian imperative, if you will, to render under Caesar what is Caesar's. What are your thoughts on that?7:39 You know, I'll take that direct quote, kind of as a as a starting point here where it says, give back to Caesar what is Caesar's and Jesus says into God, what is God's? What is interesting about that is, when they talked7:51 about that, back in the day on the denarius or the coin, they had an image of Caesar there. So, you know, the coin has Caesar's image on it, surrender that to Caesar. And what what are we have our image? Are we're made8:02 in the image of God, so we render ourselves to God, but the money to, you know, the government in a way. And I always like to take this quote and say, render what to Caesar, which is due to Caesar. But now let's8:14 argue about what's actually due to him, because now Caesar has set up these awesome rules of laws where there's only 1 that says you have to pay tax, but then there's thousands that say, well, unless you do this, or8:24 unless you do that, or unless you structure it this way. So it's my job to kinda take what Caesar has put out there, the government, and navigate the channels to still, you know, be good Christians and render to Caesar8:34 what is due to him. I'm just gonna, you know, do my job and really dig into the weeds and argue down what to pay Caesar.8:42 You know, it's interesting because I got I have a friend who says that the tax code is a road map so that, to not paying taxes because it tells you where the government wants you to put your money. And when you do that,8:54 they reward you by not taxing you. And I like that, but I do want to address because I do have friends and I've gotten into heated conversations with people. As a9:06 business person, I think it's a natural desire to reduce your expenses and taxes and expense. But there are people out there and maybe some listening to this program right now that9:17 are Christians, and they have this feeling that taxes are a moral imperative. And it's to to use a deduction is to use a loophole to9:29 game the system and somehow get out of something you're morally obligated to. Have you ever dealt with anybody like that? Have you ever struggled with that yourself? Would you agree with that statement? I already know9:40 the answer. Or, you know, how do you how do you deal with that part of it?9:45 You know, the most people I argue with about that fight are, are, are LinkedIn trolls that got comment on my, taxation is theft kind of posts out there. But I because I take the complete opposite9:57 end in that. It is your moral responsibility to pay as little in taxes as legally possible. You know,10:03 the whole And you know, I'm sure you know, there's a Supreme Court ruling that says exactly that.10:09 Yeah. Yeah. And you know what? It goes back to, like you said, the IRS was founded in 19 13 around the same time we got the Federal Reserve because they had to find a way to tap to, cover the debt service through10:21 taxes. And then also above and beyond that, the government just spends so much money frivolously. There's, you know, just so much waste there. And then they're oftentimes funding things with your tax dollars10:33 that are very anti Christian or anti things that you believe in. You know, growing up in the 2 thousands, I was very anti war. I never wanted my money to go support the war. You know, they, were10:45 spending a lot of money on abortions and just so many things that are are anti Christian and anti freedom minded that I don't want my life effort going to to fund these things. You know, if you think10:57 about money as a form of energy or really it's just a form of time. You know, time and effort gets transmuted into this thing called money. And, you know, time and effort can be11:09 also described as life force. And, you know, I don't want my life force going to fund things that I find inherently evil or inherently anti Christian. You know, that's not to say that I think all11:20 taxes are bad. You know, I live in Idaho where we have, you know, a modest about 5 percent tax rate, and the government usually runs, a surplus. They're not teaching, woke garbage in the11:32 schools. And, you know, they're actually doing kind of a decent job of running the state. And so I don't actually mind paying a small amount of state taxes. You know, this is kind of how our government was set up back11:43 originally, where each states had their different power to run the way they wanted to run. And so to me, state taxes aren't as bad as federal taxes. Now, if you live in California, New York, New Jersey, Illinois,11:55 Washington, Oregon, you know, I'm gonna have a different answer. But where I sit right now, you know, I don't mind paying a little bit of state taxes. You know, taxes are people's biggest expense in life. And when they12:07 take your money to fund things that are inherently evil to you or anti Christian, you know, they're not just taking your money. They're taking away the time, effort, blood, sweat, and tears that you put into making that12:18 money. And essentially, that's another word for for life force. You know, money is a store of this time value of effort that you put out there. And and to me, having my life force go to fund these12:29 evil things like war or abortion, or so many other just different anti Christian endeavors, you know, the large, welfare EBT whole whole system12:41 was just very antithetical to my, you know, free values and and Christian values. And so it's been my life mission to figure out how to limit, you know, paying taxes as much as possible. So my life force is not12:53 funding these evil and anti Christian things. You know, the federal government is 1 of the biggest perpetrators of this. You know, governments all across the world in history have been the per perpetrators of the most13:05 evil, the most, mass death, most mass murder. And so it's been my life mission to, you know, not pay taxes myself. And now as a CPA, help people, you know, not pay taxes13:17 legally with the tax code. Now as I was getting into before, I live in Idaho, and Idaho has a moderate, you know, 5 percent tax. And I honestly don't mind paying my state taxes because I actually see the benefit for13:28 it. They're not wasting my money on evil things. They're actually running the state quite well, which is kinda how the founders envisioned the country for the states to really have a lot more power13:40 and, taxing authority to be able to run things the way they want. Now if I sat in California, Oregon, Washington, Illinois, New York, New Jersey, I don't have a much different feeling about state taxes. But, within13:51 America, we could always pick up and move across borders, like I did about 5 years ago.13:56 Yeah. Well, I mean, obviously, that's an argument for keeping states independent and not having a gigantic federal overlay. And I think that was the original intention of the founders. 1 thing I try to do14:08 is deal with policy over politics. And when I do a policy analysis, I just try to decide what is and have less of a14:20 I think I'm in the same camp as you. I'm not a big fan of paying for a bloated government. I'm not a big fan of being forced to support things I don't believe in. I14:32 would like to have more discretion. I don't believe property taxes are moral. I don't see how you can be said to be sovereign and be able to own property if you have to pay rent. I understand having to fund the14:43 government and pay for services, but that can be done on a vendor basis. Most of it can be done privately. But that's all nice if somebody was gonna make me God for a day, and I could rearrange the government to my14:55 liking. But that's not the way it is. So it's fine when we're discussing policy and we're going to elect policymakers and decide what policies we're going to support. But right now, we have an income tax. We have15:05 property taxes. We have sales taxes. We have excise taxes of all types. If you really put it all in a blender and hit puree and get down to a bottom line, I mean, even the least taxed among us are paying15:17 probably well into double digits and the most pat most taxed among us probably well over 50 percent. So the surfs in feudal England actually had it better than we do. But,15:29 again, we can't change that. So the goal here is to first wrestle with the idea of whether or not you should put in the effort to try to reduce your taxes. So I wanted to start with15:41 the faith and a bit on the ethics. I got a scripture here I wanna read. This is Matthew 17 24, to 27. And this is Peter and Jesus, and they're they're15:52 talking. It says when they had come to Capernaum, those who received the temple tax came to Peter and said, does your teacher not pay the temple tax? And he said, yes. And this is Peter16:04 responding. And when he had come into the house, Jesus anticipated him, probably heard the whole thing, saying, what do you think, Simon? From whom do the kings of the earth take customs or taxes from16:16 their sons or for the strangers? And Peter said to him, from strangers. Then Jesus said to him, then the sons are free. Nevertheless, lest we offend them, go16:28 to the sea, cast in a hook, take the fish that comes up first, and when you've opened its mouth, you'll find a piece of money, take that, and give it to them for me and you. So Jesus was16:40 basically saying, hey, you're not obligated to pay the tax, but lest we offend them, just go do what you know how to do. You're a fisherman. Go down and fish. Pull out a16:52 piece of money and pay the tax and get it over with. So, I I just give that to people. They can interpret it. I'm not I'm not a preacher. I'm not here to tell people what God's, you know, meaning when he's saying that.17:03 I'm just saying this is what the Bible says. But based on that now, we've got through and say, okay. If we can get to the place where we feel like we don't have a spiritual mandate or a moral obligation17:16 to pay taxes beyond what the law requires, then our civic duty is to be supportive of the communities we live in,17:28 And then our responsibility to our families, to our investors, if we are, a fiduciary, if you will, running a17:40 fund or sitting in the role of a management of a company where you have shareholders, you have a responsibility to improve the bottom line. So we've got the tax code, which you alluded to17:52 earlier, which gives you a lot of things that you can actually do to bring your taxes down. So let's just say for a moment, our goal is to bring our taxes down to 0 or as close18:03 to 0 as we can get them. Meaning that if we do want to pay for something inside or outside the government, we have reduced the burden of taxes that we don't want to pay mandatoryTax Strategies for Employees and Business Owners 18:15 taxes, and we make the whole thing optional for ourselves. So when you think about tax strategies, let's just start with a typical employee. And you I I I know you and I both know that that's probably the hardest,18:27 position to play from. But but what are some tax mitigation strategies that that people who are employees can begin to put in place?18:36 You know, as you mentioned before, maybe the tax code is really just a set of policies, and the tax code is set to incentivize certain behaviors. And that's why being a18:48 w 2 or employee gives you so few options on how to limit your tax liability because, you know, you're not creating a larger enterprise where you're employing people, and19:00 adding more value to the economy. You know, you're definitely adding value to, you know, your employer. But in the grander scope of how the tax, system and incentives are set up, you know, you're not doing19:11 what the government wants you to do. So they're gonna tax you the highest between payroll taxes, income tax. Now that being said, there's a few strategies you can do. You know, itemized deductions start to become your19:22 friend as a w 2 employee, and that really means, income taxes, home mortgage, and charity, you know, are kind of your itemized deduction lane there. Now above and beyond that, you know, you can start19:34 a side hustle. And whether that's through, an s corporation or a partnership or a sole proprietorship that would get reported on your schedule c, which is the highest risk, you can start to deduct things that19:46 you maybe couldn't deduct before. So things that are incidental to the business, like using your cell phone to process orders for your side hustle outside your W-two job. Now you can start to deduct your cell phone. If19:58 you use a laptop, now you can start to deduct your laptop. You can start to deduct a home office. You know, it's when you start a side hustle, you're really now a small business owner. And the whole, you know, world of20:10 the tax code starts to open up to you to start to be able to take deductions against the income from your, you know, business that your side hustle, your business owner of now.20:21 Yeah. You had mentioned high risk being sole proprietorship, and that's, of course, from a tax perspective and getting audited, I believe, is what you're saying. But it's also an exposure from a a legal liability. I20:32 don't know. You're not an attorney neither am I, but it's my understanding and I'm sure yours too that when you don't have that corporate veil, you don't have that limited liability of a limited liability company or the20:43 corporate veil of the acts of being in business and any liabilities created by the business come right home to roost on you. So there's there's both a tax and legal reason why20:55 it makes a lot of sense to use an entity. And then, it's my understanding, correct me if I'm wrong, that if you were to use, for example, a c corporation, there's some disadvantages, which, of course, is21:07 that the income accrues in there. And if you pull it out, you get double taxed. But you can also write off a ton of stuff. And and so if you don't have a highly profitable business,21:20 what are your thoughts on setting up a c corporation to maximize those deductions and and benefits?21:26 You know, I see c corporation used in, a a few areas. So, c corporations have this great, qualified small business stock, QSBS,21:38 part of the tax code where if you start a business and your goal is to sell it, you can exclude up to 10000000 dollars of capital gains or 10 x your basis if it's in a c corp. So that's 1 of the number ones I see for it.21:50 2 is when, someone's, like, in a 37 or 39 percent tax bracket. Sometimes we can use a c corp to do some income shifting and leave some money in. So if they're 37 over here personally, but they're22:01 21 percent at the c corp and don't have to pull the money out for double taxation on the dividends, That's another structure. And then thirdly, 1 of the reasons why I use it and what I see a lot of family offices22:13 use it for is that reimbursements for things like medical coming out of a c corp are deductible by the c corporation and not included in income in the individual. Now that's different compared to22:25 partnership or s corporation land. So those are kind of the main reasons why I see c corporations used.22:31 Yeah. I mean, if you get a home office and you have to go out from your home office, that's not a commute. That's travel expense, makes your car a potential deduction as I understand it. Obviously, if you're a Uber22:43 driver or doing any type of ride share, there's probably some deductions there. So we're not here to give you tax advice. I'm certainly not. James maybe could, but unless you've engaged him, it's not actionable advice.22:54 It's just ideas and information for you. But the point of it is if you're an employee, for a couple different reasons, 1 is for the upside potential, and the other is for the23:05 opportunity to pick up some real tax deductions. You might think about setting up some kind of a side hustle. And then you mentioned charitable giving. And, you know, you and I are working on something very23:17 specific kind of a high end strategy for high net worth people to create big, big tax deductions, just by shifting equity from a highly appreciated asset into a charity.23:29 We're not going to talk about that today. But if you're interested in that, then you can send an email. I'm gonna call it endowment because that's, you know, I think that's the best way to do it. But let's just call it23:40 endowment at the Christian capitalist dot com. And then you'll be on the list when we produce that piece of content. We'll get it out to you and you can take a look at it. It's a great way for you to pick up a really23:51 double dip on the tax deduction and put your equity to work in a ministry or some type of a charity that you really, really believe in. So I'll just leave that there for now. But now let's talk about somebody that's24:03 actually a small business owner. There the world opens up quite a bit when you get out from underneath that w 2 and you're full blown business owner. What are some tax strategies small business owners, what I call Main24:14 Street capitalist, can employ?24:17 Great question there. So, we'll we'll leave kind of real estate outside of this because I think real estate is 1 of the the best avenues for for tax write offs, but not everyone's in real estate. And a lot of people are24:26 smart, small business owners. So like I said before, entity structuring is 1 of the first things to look at. You know, maybe a c corporation works for you, but maybe not. And maybe you're you're probably better off24:38 suited by an s corporation. Most small businesses, can take advantage of saving some payroll taxes by and self employment taxes by using an s corporation. And then you kinda that's that's kinda the NA24:49 restructuring side. And then now we kinda get into the tax deduction side of the world and, you know, accelerating expenses, you know, as we get into q 4 here 20 25. You know, business owners had a really good year, have25:00 a lot of surplus cash. They can maybe look into 20 26 and be like, hey. I'm gonna spend about, you know, 30 k in marketing or I'm gonna be going to these conferences. You know, can I pay that now as a cash basis taxpayer25:12 in 20 25 and kind of accelerate the deduction for when it's gonna be used in 20 26? And that can be anything from equipment purchases, like I said, to the advertising.25:24 And then you kinda gotta get into the tax credit land. So before we said, let's do the entity structuring. Now let's reduce our taxable income. Now that we have this ending taxable income here, what kind of maybe25:34 potential tax credits can I generate? You know, there used to be a lot of solar and renewable energy ones that are sunsetting. There's a whole list of tax credits out there. For my real estate guys, you can do ADA25:46 redevelopments on your properties to get about 5000 dollars of credits a year. So those are kinda like high level, strategies on how to do that. Also for small business owners, you know, you can hire your kids. You know,25:58 make sure you they're really justifiably doing work for the business and you're paying them a market rate where you would pay someone else. But those are kind of the things we k. We look through, when we work with26:08 clients on tax advisory and tax strategy. We send them a long questionnaire being like, hey, where are you spending money? Are you supporting any relatives? You know, not just your kids, but let's say you have an aunt or26:18 grandma who, you put up in a in a condo. Well, maybe that aunt or grandma can help process payroll, you know, once a month and then you pay her that and then she rents from you and now you've unlocked depreciation on the26:30 condo that otherwise you're just giving to her for free. So, you know, taking the facts and circumstances of your life and then trying to change how you view some certain things into a more favorable26:42 tax result is, a lot of the planning we do with our clients and suggestions we make.26:47 Okay. So I speak both Main Street and tax a little bit. Right? I'm gonna interpret some of what you just said.26:56 Great.26:57 You talked about tax credits and tax deductions, and so those those are different. So why don't you just explain that, because they sound the same to the27:09 layperson, but they're very different.27:10 They're very different. So a tax deduction, let's say you make a hundred thousand dollars in revenue, but you have 50000 dollars of expenses. Generally speaking, expenses means deductions.27:23 There's some other potential deductions as well that may not exactly be expenses, such as, like, a HSA contribution. You can deduct that from your taxable income. But when we're talking about deductions, it's lowering27:34 your taxable income. Now, when we're talking about tax credits, because let's say you have that 50000 dollar, you know, net income and you owe maybe 10000 dollars taxes on that. If you invest in something that27:46 generates a tax credit of, say, 5000 dollars, you or like an EV credit of 7500 dollars, you apply that credit towards that 10 grand you owe and reduce what you27:58 owe there. So you get a credit against your taxes owed versus a deduction on income. So I think that's kind of the nuance there, and that was a great point for you to call out for us.28:07 Yeah. Yeah. Just to be clear, again, for everybody, you got the hundred thousand dollars of taxable income or gross income. You deduct 50000 dollars of expenses. So your income your taxable income's28:18 now 50000. And if you're in, say, a 40 percent tax bracket, you're gonna pay 20000 dollars. Yep. K? Now let's say that you have you owe 4000028:30 dollars and you make an investment and it gives you 10000 dollars of tax credits. It doesn't reduce the hundred thousand the tax rate is applied28:42 to. Did I say that correctly? Exactly. Yeah. The tax rate is applied to. Did I say that correctly?28:54 Exactly. Yep.28:55 Okay. So I wanna make sure people are clear on that. The other thing you talked about was hiring children, and this is near and dear to my heart. I had a lot of children. I believe 1 of the fundamental issues we have in29:05 our society is the result of organizing the economics of our society around making children a liability and not an asset for so many years in humanity.29:17 The more children you had, the richer you were. Were. They they fed the chickens, they milked the cows, they worked in the family shop, they they were being apprenticed and being productive human29:29 beings. They understood what it was to work to be productive. They knew if they didn't get up and do their chores, there wasn't food that evening. There was some really good things that happened when kids were working.29:40 We moved into the industrial age. And now all of a sudden, you know, the children are in factories and to protect them, child labor laws were put in place. And I think that that's was okay for29:52 a season, but the side effect, whether it was intended or unintended, is that we've congested conditioned children. May we we've made children a liability, number 1, so parents don't wanna have them, and now we have a30:04 demographic problem. Number 2 is we're training the children that everything they need should just be provided for them by right. And so they grow up expecting the government to take over for mom and dad and30:16 just take care of them. And so that's a mentality. So I created the raising capitalists foundation specifically around changing that. I don't think we're gonna be able to go into the school system and change the30:27 culture or the motivation of the school system. And I don't think children are gonna learn economics and productivity and and the difference between capitalism and socialism and communism in a30:39 school book. I think they're gonna learn it in the real world. And so how do you get kids into the productive economy? Parents start a side hustle. Parents employ their children. And the way30:51 it works is that, let's say, James, you are, my my business mentor in the raising capitalist mentoring program, and you're an entrepreneur. And I'm a parent, and I31:03 don't know anything about starting a business, but I joined the program to get mentored, and you teach me how to set up an LLC, how to set up the structure, and then I begin to provide services to you. And so let's just31:14 say you pay me 14000 dollars or may maybe no. Just call it 13000 because we know that fits. Right? So you pay me 13000 dollars, and I turn around and have my children31:26 do 13000 dollars worth of work. You deduct 13. I deduct the 13, and the child doesn't have to pay any tax. So I've created virtually tax free all the way down the chain,31:38 plus I've got the kid involved in the business. Am I correct in my understanding that that's the way that works?31:44 Yeah. Yeah. That's another idea of income shifting. You know, when you you look at a family as a as a whole economic unit, you know, shifting income to a higher taxpayer at 37 percent to a kid, pay them below the31:56 standard deduction, they pay 0. You know, and so that's just another idea of of moving tax rates around and really thinking that the family is a total economic unit, versus just siloed off 1 by 1.32:08 Yeah. And so when I was in the eighth grade, I was taking algebra. And if I could do algebra in the eighth grade, I could probably underwrite an apartment building. I could Yeah. Right? So there are legit32:19 things that that children, middle schoolers can do. Social media, doing research on AI. It doesn't have to be menial tasks like filing and and, shredding documents.32:31 Although those things are fine too. Taking out the trash are all valuable. But now you realize that you can create a lot of family tax free income simply by having children engaged in your business. And now the32:43 more children you have, the more the less taxes you pay and you're training them, to get used to not paying tax so that, you know, when they go out in the real world and get their first job, they're like, well,32:55 how come how come I they told me I got paid a thousand dollars and I'm only getting paid 700. What what happened to that other 30 percent? You know? What what am I getting for that money? And, so if if you're interested33:06 in learning more about that, you can visit the raising capitalists dot org website or send an email to raising capitalists at the Christian capitalist dot com. We'll get you information about that. It's a nonprofit33:18 foundation I set up specifically to teach parents how to do this because it's part of healing, I think, in bringing capitalism back to Main Street. Okay. So, those are some strategies.Show more In this video 0:00 Faith, Taxes, and Civic Responsibility6:53 Navigating the Tax Code as Christians18:05 Tax Strategies for Employees and Business Owners33:26 Real Estate: A Path to Financial Freedom
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