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Patreon Mastermind Session with All-Access Members | June 6, 2021 (Patreon)

Published:
2021-06-14 19:12:13
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2026-06
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Mastermind Session with "Seat at the Table" Members | June 6, 2021

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Comments

Anthony Brown

35 minutes in and I wanted to schedule a 1on1 immegiately. Thank you 🙏🏿

Xavier muckelvaney

I’ve never been given some much useful information in such a small amount of time as just happen !

Damiyan Bush

A bit late to the game , but glad I got to it when I did . Only up from here . Thanks Anton.

Cory Hightower Jr.

Damn this ( just this video alone) information here was worth the price of admission.

Leon Moore

Which account are all your bills coming out of things like utilities etc? Is it still your checking

Natasha Vincent

Can't see the Vimeo video? As of OCT2023 @Tech Coach Ralph found the following workaround for this Patreon bug ➡️ "if you click on the 3 dots in the top right to expand a menu and chose 'Copy Link' to open in your web browser choose the option to stay on web if it pops up (don't open in app) you should be able to play the video."

GolfMind

I have a question? I’m a freelance Sign language interpreter so I file a W-2 but married with my wife and she’s employed and I just got an LLC for my detailing business, can I still get the same benefits if I work with an agency eventhough they don’t take out taxes?

Zachary Martin

The video can't be played for some reason.

Albert C.

Why is video locked? For new members?

Ali

Man this video is a jewel, I will definitely listen to this again

George P

Major gems in this video

Alicia Delrosario

The greatest c student of all time hands down thanks

Giovanni St Cyr

Thank you big bro! It’s all a mindset switch. Start a business to inevitably be profitable, but take advantage of the opportunities to get more write offs. 💪🏾💯👑

Rayshawn L

Thank you. I appreciate the game.

Dr Cheri Watts

NOTES: Please feel free to copy and please help me by correcting any errors. Pay yourself first - AD pays himself at least 25% of all he makes 8:45 Inflation definition - value of money. An ounce of gold buys the same amount today as it bought 100 years ago but not paper money. Loaf of bread that cost 5 cents 100 years ago costs $5 today. Money sitting in your bank account becomes less valuable over time. This is inflation. You must invest or buy asset sto beat inflation. For this reason every penny AD has over $1,000 is invested (forever or at least for the next10 years) wealth is made by compound interest - $6k invested and making 10-15% interest for 30-40 years is a million plus AD never ever ever ever pays taxes on his $$ - Billionaire Trump paid only $750 in taxes - Learn to do this! AD quit job in 2019 - before quitting was so financially independent from investments and being debt free he was able to NOT use his paycheck to pay his bills. He was able to allocate all that he had in investments. Because AD has so many businesses he has many tax write-offs aka deductions. All the travel is written off what AD's tax bill is till & AD owes the IRS practically nothing. AD opened a media businesses (youtube) and restaurant to park money to avoid paying tax on it. All AD’s activities are deductions: plane ride, hotel, food for meals and entertainment, events the Tesla lease purchase was for his business providing content for his media company on YouTube. FYI Tesla is leased for business so 100% of lease payments, mileage, maintenance and insurance - everything associated with that vehicle are write offs (deductions) Make sure not to use business for personal reasons so have a personal vehicle. Lease something for business? There are depreciation costs. AD does own a vehicle for personal use and that is the cheapest he owns, FYI. He must have a personal vehicle that he cannot write off and he uses it for personal business to justify the need for a vehicle / vehicles for business. If one makes $100,000 annually and has $20,000 in business deductions, one pays taxes only on $80,000 29:59 Business types Sole proprietor - anything happens negative I am 100% liable to be sued or jailed. LLC - liability co anything happens negative, my liability is limited. The way I file taxes is still associated with the business. ADAN Media LLC runs all AD’s youtube stuff & sponsorships - everything associated with the media aspect of filming, recording videos, putting out content etc - tied to AD personally but is its own entity. Anything happens like lawsuit, AD is generally protected. File taxes? Must send in this info in as part of his taxes. LLC gets ss# for the biz called EIN (employment identification number) - takes 5 minutes to get on IRS website AFTER filing LLC in whatever state you filed in. Say biz took $20k loss. You paid this $20k from your $50k income from your job. Well now you pay tax on $30k instead of on $50k. $30K is your adjusted gross income.) file on Schedule C - tells profit and loss of biz Taxes: the less dependents you claim, the more the government takes out. Deductions: Church donation? write off / deduction -Buying a home or property? Go out to eat - talk business - write off b/c meals and entertainment (deduct 50%?) EVERYTHING AD does is a tax write off. The sneakers behind AD are a great esthetic set design for his youtube media company. AD did a video of his sneaker collection for content for his media co. All these purchases are write offs. AD also has a biz related to sneakers. All AD does is strategic. $5k camera? write-off! travel excursions for content? write-off! Where to live: Living in expensive cities is a no-no. AD living 3 month in Miami was a tax write off - paid everything pre-paid to put it on 2020 tax bill. C19 curtailed travel and biz plans so AD had money he had to get rid of, or pay tax on. AD was also scouting for a main residence in FL cuz no state tax. Bezos moved primary residence to TX cuz no state taxes. No state taxes in Florida, Texas, Nevada, Arizona, Tennessee. All these states are more biz friendly and personal friendly too. 4.5% state tax rate in Michigan - costs less to buy residence in FL, designate as main address and spend majority of time there, get a FL license than to pay 4.5% to Michigan just for being there. Make a milli? Pay $45k to Michigan just for being there or live in FL and keep it. How long can a biz lose money? Rule of thumb: show progress in 3-4 years CAVEAT: no limit to the amount of businesses you can start. Trump owns thousands of LLCs. There are 1,100 benefits to being married regarding business. Whatever I buy make it a write off for a business. EVERYTHING is business. BE DISCIPLINED. Set up a biz. Want to do something with the biz. Try to make sure the biz is profitable. Take the proper deductions to keep more $$ in my pocket OR AD will pay less than you for whatever you spend. Real game: Debt is the ENEMY of success because you have to use your own $$ that you work for each month to pay for it which then prevents taking proper deductions and thus creating for your family a lower tax rate b/c you have work and get taxed just to get the money before you can even start topay off the debt. Credit card bill $500 car / insurance mortgage etc The problem with this debt is you can't take lots of deductions because you have to pay the monthly debt and your money gets taxed before you pay it so you have less to acquire things to run a business and get the deductions AD pays himself only enough to buy things for daughter and buy groceries and EVERYTHING else goes to investments and business write offs which make him $$ and save him from paying tax. He keeps more of what he makes. iPhone, headphones, clothes, versace glasses, beard trim, and Rolexes and content creation about these items are all biz write offs. AD's first biz: understanding web applications from work study job. Coded (cloned) websites of existing companies with easier better UI/UX that he monetized. They got traction and attention from these existing companies. He sold the sites to the existing companies for cash BUT he realized at that time, everything related to creating those websites were write offs. How to diligently keep track of receipts? AD uses Microsoft's One Drive - $10 / month for Office 365 - ms word, excel, powerpoint etc - that gives 5 emails and a terabyte of space for each email. Make digital profiles of everything. Take pix of all receipts and upload to OneDrive File Structure / Organization: Biz Name, Year Documents, Expenses, Not Yet Reported (to Tax software) , Sales etc Expenses year month - keeps him organized and ready for an audit - for all receipts like ordering Door Dash pizza for a biz meeting? He takes a pdf and uploads it to OneDrive Free accounting software structure generate reports, enter transactions, make notes, allows super organization to ensure to account for all I do in case I need to pull together all info WAVEApps.com - Accountant - CPA - for compliance Tax strategists/advisors - for when making lots of revenue - they tell how to move $$ AD's media co was not profitable til 4 years in - made money before but profitable in 4 yrs. Millionaire status related to net worth: Most millionaires are so because of value of 401k compounding interest and the value they have in their home Retirement vehicles 401k retirement account private industry 403b retirement accounts for hospitals, college / university and not for profit entities AD has Tech / ITbackground - Software Engineer - worked in mid-sized bank - learned the whole flow of the user experience there. Banks incentivize you putting your money there and make more from your money than you do. Exec comp packages are heavily back loaded and are negotiated. Base salary of C level suite people is low. Twitter Jack Dorsey/ Elon Musk make less than $2.00 / year. Why? A) they are now in a lower tax bracket and only pay taxes on base salary B) most of compensation comes in bonuses compensation closely tied to company performance - most of compensation comes in stock options; as $$ grows / earns compound interest B) CAPITAL GAINS TAXES MUCH LOWER All strategic. These fellows are schmucks living life and getting wealth by accident Compound Interest Stack $10, 000? gets 10% interest in a year $1,000 so now you have $11,000 and you also saved another $10k in year two you got $21,000 but you made another 10% which is $23,000 in 10 years $140,000 and you are making 10% interest by investing in stock so now making $14,000 interest every year and still continuing to contribute Your money continues to make money on top of money - the beautiful part? you don't have to pay taxes on that money (if it is in a ROTH Ira) in a 401k you're making money and not paying taxes> nobody wants to do ROTH IRA but after tax contribution to ROTH IRA - max contribution is $6k - married? can put another $6k even if spouse doesn't work - no taxes on it once you draw from it once you retire. if that $140,000 multiplied into $1.4 million you don't have to pay taxes on it anymore. Get to keep more $$ in your pocket! AD got rich from keeping more money in his pocket - not that he made more $$ Buy camera with personal funds for the business? money budgeted for personal expenses - only money AD personally uses is what AD pays himself at the month's end. MUST BE SUPER DISCIPLINED to acquire wealth this way. AD lives off credit cards to get points from Marriott and his Delta’s American Express. AD pays the balance off from business money (remember the budget) before the statement even comes in so pays no interest. Ad uses credit cards for necessities and business expenses and pays off the cards at month's end. AD's Credit utilization rate stays under 30% but preferable under 5%. He pays before the bill comes in. This can cause credit score jumps of 70 points. When AD went to FL to build a recording studio for his media company? That's a business expense, not a vacation home. Paying yourself: multiple ways - pay myself 10% of gross income the idea: i had to go to work and trade time work for that money. that money is my employee(s). That 10% money is my employees that will go to work making me money in investments. Stocks, crypto, real estate. now lower expenses - pay off debt so less to allocate toward living expenses 1:34:00 making $1000 / week - pays himself 25% or $250 . AD allocates 100% into stocks $250 options trading is gambling unless you know what you are doing - it isn't investing Amazon is a growth stock - has similar investment strategy as Berkshire Hathaway. Berkshire bought Coca Cola and raised the prices 1 penny AD likes blue chip cos and tech cos. He likes Msoft that pays dividends and Amazon that pays no dividend. This causes AMZN's stock price to inflate. Amazon is interested in growing. AD is buying stock, buying stock, buying stock makes $20k. AD then buys property and has renters pay the mortgage. AD then pulls from equity and buy another property and have more renters pay Real Estate AD Rents where he lives and buys the properties renters lived in. Multifamily property makes you live for free. Avoid paying taxes by reinvesting $$$ back into the business AD reinvests dividends into buying more stock so it can compound. Stocks Read: A Random Walk Down Wall Street by Benjamin Graham $$ is not money - but opportunity to make money? Learn from investopedia.com AD keeps $1000 on hand to handle practically any emergency and then keeps the rest in stocks that can be liquidated in 2-3 days. This way money is working for you just in case you don't use it. Options is not gambling IF you don't understand it! 25% of everything AD invests in is crypto Ethereum and Bitcoin after 7 months of study. Cryptocurrency - First understand currency (fiat)- it's paper with value that fluctuates based on our beliefs cryptocurrency digital currency based on a world wide belief in it - except it has no limits - IT's A HEDGE AGAINST fiat currency (regular money) AWS is the profit center of Amazon AD buys Coinbase stocks Hire contractors for your businesses and 1099 them. Beat the rate of inflation with your money with investments and buying assets.

Daniel

Definitely gave me a ton of gems. I have got some homework I need to get working on. Thank you AD

Lincoln Ward

Whole lotta game. You got me thinking about using the equity in my rental property to invest in an event center.

Eh-k 808

This is hot sauce right here 🔥🔥

Adrian Jordan

I'm looking forward to diving into this one since joining the Patreon. I'm just trying to tap into some of my talents and thrive. Hopefully there would be a video about earning money bases off of my strengths.

Group Think

I just joined and this level of inspiration and knowledge is phenomenal. Appreciate the group for great questions that helped pull out the seemingly endless stream of information.

Sergej Fel

The information is solid! So many actionable steps that are so easy to implement but also easy to be overlooked...

Amanda (Adorkable)

Is it useful to have a diff LLC for diff themes? Let's say I am doing a travel vlog but also tech/biohack vlog... do I need a diff LLC for each channel?

Amanda (Adorkable)

Sooo can you pay yourself out of your LLC with stocks/shares if your company doesn't have any itself (so shares of some other co)?

Amanda (Adorkable)

Looking forward to the next mastermind. If you can squeeze it in, I'd love to hear if you have a separate biz (LLC, or?) for your Rentals and the benefits of buying them under a biz vs not.

Troy Lalor

This mastermind honestly changed my way of thinking. My wife and I will be moving with purpose and being intentional from now on. Thank you.

Taj Newman

thank you for keeping this content up for new subs

K

Why does 10% seem so much out of my check? I’m at 5% on my TSP and it’s a struggle.

Rob Roberts

How is this only 9$? Thank you so much!

ms intresting

I so cant wait to join the 59 GOD help me to join and be able to pay i believe u will GOD

Jace Dynasty

NEED A SEAT AT A TABLE. unc lol i know you don't need it but I'm willing to pay double . this is easily the best $9 i ever spent !

Jason Cardona

This episode helps me so much. I'll have to watch it repeatedly just to keep reminding myself to keep my books on point.

Natasha Vincent

Appreciate hearing about your business systems/processes. I signed up for the WaveApps account, connected with a CPA in my network (we worked at the same company years ago but now she consults) and downloaded my province's rules for business deductions to which I may be entitled...all before my pre-church workout 🙌🏿 Thank you from Canada!

Deus Ex Machina

This mastermind session is a gold mine. You really opened up my mind. I'll have to rewatch.

Andre Brown

Man this was Gem City!! Appreciate the perspective. I'm being much more intentional with my tax write offs now.

michael carter

Just watch this so many gems. These methods translate and can be applied in other countries especially here in the uk

Jon

Wow wow wow!!! Thanks Anton for the rich game. I’ve started scanning receipts today.

Kobi

Nice work with this one Anton...Solid info on the stock talk as well. Solid foundational knowledge, but the discipline is where most fall short. However with the stock options I'm going to show you something that I think will make you think about options a little differently.

DJ Troy

Yo Anton! You are so on point. I've been doing this for years. This is truly million dollar game and this is how the rich do it. Love what you are doing.... I am DJ Troy on Youtube.

Sanbonit Richardson

I gained so much knowledge from this video. Everything that you spoke about would have taken several years or degrees and thousands of dollars to learn. Thanks for sharing.

Kenteddy Boreland Jr

What a masterclass this video was, Currently working on getting my first LLC now! Keep em coming !

Magic Don Twan

I was wondering could I write off art work

Brandon Henderson

I was thinking about starting a YouTube channel but this video convinced me. Thanks for the session

Raymond Brown

This was awesome. Me takeaways: Make sure to pay yourself 25% of everything you make. (I'm at 50% in general this year, but I'll be applying that to my j.o.b. paychecks) "Why are you out" - I need to make sure I'm moving with intent. Set up an LLC -this break down was great, very informative and something I need to get on. Crypto - been doing it for 9 years, but it was nice to hear intelligent discussion about the space. Solid picks Anton ✊🏽

Cessy Castillo

I'm new on here but this entire Mastermind session is important. Maybe not all of it applies to everyone but there are many take ways. Good job Anton!

Johnson Toe

I will never look at things the same 🤯

Brian Youngblood

This video had so much game. I think it's one to save forever.

Noron Blythers

Thanks taking the advice starting from vid one 💪🏾

Billmatic

This was AMAZING.. I have to revisit this weekly until I've downloaded the content into ACTION! Much appreciate your Existence Fam..

Kendrickj

This is powerful and is one to keep

Shin C

This absolutely answered a ton of questions I had …. Shout out to Anton for dropping these gems!!

Kevin Robinson, Jr

This is a great video! Just joined the Patreon and looking to meet you at the LA meet up.

Ledjon Shtika

For anyone still having trouble with tax write-offs. Basically, if the product or event helps your business it is considered a tax write-off. So for example I bought a $2000 dog that I am using as a guard dog, I keep most of my inventory in my house so because the dog supports my business by providing security that $2000 + all the food, produces, and insurance for the dog is a tax write off. Great Video by the way.

Big Tre

Amazing video! Eyes are completely open. So much game I had grab a pen and pad.

Keith Anderson

This the secret sauce for real! Appreciate all knowledge dropped!

Marcus CH

Got to look at this one more than once

Christina

This is gold. Thanks Anton!

Reginald Greene

New to the Patreon, appreciate all the info. Will definitely be in Detroit next month.

Ray James

Dude, Much Love from Cleveland Ohio, for the Fire info!!

Dr Cheri Watts

Enjoy these notes. Correct any mistakes I've made. Thank you. Pay oneself first: 25% of your salary goes to you for investing - growing your money. (Please correct me if I am wrong.) AD's background is in tech and he did everything IT for user experience - was in banking. Made his first money but creating a website for a company / industry that had a website. AD's website got more traction so a company / industry bought it from him and he learned what he purchased to do that business were business expenses that can be deducted from his tax bill. Inflation - value of money 401k produces millionaires. Take advantage of Anton never pays taxes on his money because he has so many business expenses / deductions / write-offs from his annual tax bill. To save tax bill: have primary residence in state with no taxes. Those states : Wyoming. Washington. Texas. Tennessee. South Dakota. Nevada. Florida. Alaska. To validate your tax write-offs to the IRS be able to show progress in 3 years on your business start up. AD stores videos, pics, documentation for his businesses. He takes a pic of receipts and stores it in MS One Drive. A monthly subscription to Microsoft One Drive is $10 -$15/ month gives a terabyte of storage for each of 5 accounts (emails) . For the subscription you get MS Office Suite 365 Powerpoint Excel, MS Word, etc. AD makes digital profiles for everything in MS One Drive. He gets a bill writes in the tip, takes a pic and uploads it to MS One Drive. This is structured by the biz LLC. There are areas for year, month then documents , expenses, not yet sales (that ultimately get reported to waveapps.com his free bomb accounting software FYI. There you can generate reports, enter all transactions, designate what transactions are for and write notes. This allows for super organization and provides perfect documentation in the event of an IRS audit. Compensation: when you get a raise, still live on your previous income and invest the rest. NO SALARY DRIFT allowed where you begin to spend more because you make more. Lower debt. Don't buy things on credit. Credit is very expensive generally. Start a business and many things you buy for the business can be deducted from your tax bill. AD has a sneaker business and a media business so he can write off (deduct) the cost of sneakers and watches he wears while broadcasting for his media company. AD travelled to Miami to scout out locations for a media company studio and was able to write off airline tickets, meals, entertainment, Uber, car rentals, etc. Anton figured out how to deduct (write off) many things that we simply pay for in living in this worlds so we have a higher tax bill than him although he generates much, much more income than us. Start a business! Write off what you can. Every time you spend a penny, think: AD is buying this too but he will have a lower tax bill than me at the the year's end because what he bought can be considered a business expense because it actually is. It's not what you make it is what you keep. Exec Compensation AD pays himself 10% of his gross income (profits?) Exec Compensation is backloaded like crazy. Those CEOs like Elon Musk (Tesla) get a low base salary - could be as low as $1 / year and make the lion share of their money in bonuses. Since their compensation is tied to company performance it is motivating for them to do their best leading the company. They receive stock (options?) that can generate compound interest as the share price grows and they buy more stock with the dividends they receive. Being paid this way also means lower capital gains tax bills. generating compound interest if they increasingly make the company profitable. $1 / year base salary means lower tax bracket. ROTH IRA vs 40lk Take advantage of putting part of your salary in a 401k and take advantage of your employer's contribution to your. Take advantage of buying your employer's stock if they offer discounts. Don't You get paid and pay your taxes and then annually you can put up to $6k in a ROTH IRA ($12k if married - even if spouse is unemployed). You make investments out of this ROTH IRA account and whatever profits are generated accrue no additional taxes if you take it out when you are 59 and 1/2 years of age. If you have $1000 in your ROTH IRA and generate 1 million dollars ( I think Peter Thiel) did this, correct me if I am wrong, that million or in Thiel's case millions is tax free as long as you take it out when you are older than 59 and 1/2 years of age. Anton pays himself 1/month - His salary is what he budgeted for personal expenses for his businesses. CPA ensure compliance. Tax strategists are hired as needed. [In this case, Anton is serving as our tax strategist.] Anton uses credit cards and pays them off at month's end. He gets an interest free loan this way. He gets points and frequent flyer miles too. He loves Marriott card and suggests Delta AMEX. He suggests secured credit cards to build credit. Ideal Credit Utilization: the lower the better 5% and definitely no higher than 30% of your income. AD's credit utilization rate is low as he pays off the bill in full at month's end. Investing Invest to beat the rate of inflation with assets that rise in value. AD invests for the longterm - 10 years. AD pays himself 10% of his gross salary and calls this 10% ten employees whose job is to go out and bring back money. He sends these employees to bring back money from stocks, real estate, crypto etc. AD makes money from these 'employees' and can begin to rely less and less on his income from his j-o-b. What he makes from his investments allows him to pay down debt to have lower expenses which translates into mo' money for investing. Stock AD invests in tech cos that invest similar to Berkshire Hathaway and Amazon. Amazon makes the lionshare of its money from AWS Amazon Web Services over selling merchandise. Amazon focuses NOT on making money but on becoming bigger. Amazon invests in developers, new technology and buys businesses to grow. It took a long time for Amazon to generate a profit! AD invest in dominant market leaders in certain industries in certain companies. Berkshire Hathaway invests in insurance companies that use float to invest in other cos to make a return. Float is unused insurance premiums that insurance cos use to invest in other cos to generate returns (profits). Berkshire does things like buy Coca Cola and raise the price of the product one penny to generate massive returns. Amazon costs about $3k / share and Berkshire Hathaway costs about $250k / share AD invests in growth stocks like Berkshire Hathaway and Amazon who do NOT distribute portion of profits to shareholders so they pay NO Dividends. Growth stocks try to raise valuation of company / stock price by re-investing revenues in itself. Learn from www.Investopedia.com Real Estate AD made investments (in stock I think) and when his money grew, he took $20k and took advantage of an opportunity to buy a house for all cash - an asset. He bought the house for the right price - one makes money in real estate by buying correctly. Each month the tenants pay the house's expenses - remember no mortgage - and AD made money on top of it. All the while he continues to send his employees out to bring back more money. AD says only buy a multi family house so your tenant can pay your mortgage. AD buys rental properties and rents them out so they are assets. Conversely, AD rents where he lives as a business expense (I believe). Must live in a house 7-10 years in order to ________(help me out) why 7-10 years in a house? Crypto Of the 10% of the gross profits AD pays himself, 25% is invested in crypto. He also invests in Amazon stock and Berkshire Hathaway. Crypto = digital currency and is a hedge against inflation/fiat. Fiat is dead presidents /paper money. You can print more and more fiat (dead presidents) which brings wild inflation so more and more of your money buys less and less. Crypto currency cannot inflate wildly- there is a limited amount of eachcrypto currency . In crypto currency people/companies are compensated for recording digital transactions in the blockchain. AD buys only Ethereum and Bitcoin what he considers the Amazons and Berkshire Hathaways of cryptocurrency. Do your own research.