Digital Social Hour
Tax Pro Reveals How Kardashians Write Off Their Entire Life | Grant Newell DSH #1053
Fri, 03 Jan
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Tax Pro Reveals How Kardashians Write Off Their Entire Life 🤯 Mind-blowing tax strategies from a former football player turned finance expert! 🏈💼 Grant, a Dallas-based tax pro, shares insider secrets on how celebs like the Kardashians legally write off their lavish lifestyles. mansion 👜 Learn how personal branding can be the ultimate tax strategy, even better than real estate! 🏠 Discover: • Why renting might be smarter than buying a home 🏡 • How to turn your passions into tax-deductible businesses 💼 • The power of documenting your life for tax benefits 📸 • Secrets to writing off luxury cars, trips, and more! 🚗✈️ Don't miss out on these game-changing tax tips that could save you thousands! 💰 Watch now and subscribe for more eye-opening conversations on the Digital Social Hour with Sean Kelly! 🚀 #TaxStrategy #PersonalBranding #FinancialFreedom #DigitalSocialHour #SeanKelly #medicaldeductions #retirementplanning #financialeducation #yearendtaxplanningstrategies #yearendtaxtips CHAPTERS: 00:00 - Intro 00:25 - Grant’s Life Update 02:55 - Overcoming Dark Times 04:55 - Living Paycheck to Paycheck 06:10 - Renting vs. Owning a Home 09:40 - Government Protection of Banks 11:21 - Grant Cardone Insights 12:41 - Trump's Tax Plan Explained 18:08 - TheStradman's Tax Situation 25:50 - Understanding W2 Income 25:55 - Tax Strategies for Personal Brands 27:19 - Documenting Your Life Journey 31:43 - Real Estate Fundamentals 34:40 - Moving to Puerto Rico 35:44 - How to Connect with Grant APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [email protected] GUEST: Grant Newell https://www.instagram.com/grantgnewell https://www.grantgnewell.com/ LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/
Chapter 1: What personal experiences did Grant share about overcoming difficulties?
pulled me out of that dark hole that i was in wow shout out to her yeah i went through a similar journey i was at a super low point and my fiance got me out yeah i mean they say that behind every successful man is a woman that pushed them yeah and i firmly believe that i've you know been a testament of that because of my wife pushing me to levels that i don't think i would have gone myself
All right, guys. Got Grant here today from Dallas. Flew in. Luckily, he brought the suit because it's cold out today. Yeah, it is a lot colder than I was expecting. Yeah, you think of Vegas, you think of desert heat. Exactly. I was thinking 100 degree heat, you know, similar to Texas, but luckily I brought a jacket. For real. What you been doing out there in Dallas lately?
So we're actually in the process of moving. I just had a kid seven months old now. Congrats. Yeah, it's been busy between a kid and moving. It's a lot. Where are you moving to?
Chapter 2: Why is renting potentially smarter than owning a home?
Out to the suburbs a little bit, more rural area, the North Lake. It's out by the racetracks. Okay. We're finally moving out of the city. The city's just getting too crowded for us, and we're just... Want some peace and quiet. Yeah. I feel like, yeah, in your younger years, city life is appealing. And then as you have a family and kids, it's like, let me move out to the farms. Right. You know?
Exactly. So it's, you know, and plus, like, I have a son, so he, you know, just wants to run around. And giving him more space to run around is... you know, what I want to give him. I love that. You've been in Dallas for a while. That's where I grew up. I went to California for a little bit in college and then Oklahoma and then moved back to Dallas. Gosh, that was almost eight years ago now. Okay.
So been in Dallas a while. Why'd you choose Cali for college? It was forced. I was playing college football and I went to junior college out there in California and then transferred from junior college to Oklahoma State, finished out my career there and then moved back to Dallas from there. Got it. You wanted to make it to the NFL. That was your goal? Yeah.
I lost that job and then got into finance through a church pastor. He said, you know, hey, you were good at math. Do you want to come do this job interview? And I did it. the owner at the time was a Harvard MBA, taught me everything he knew. And then, you know, it brought me to where I am now, which is running a tax and accounting firm.
I love it, man. I want to go back to that story of the shoulder tear. Was that the lowest you've been mentally in that moment? Probably when I had my shoulder surgery and I even lost my lifeguarding job. Oh, that was, that was the moment. Okay. between living at your parents and losing a job as a lifeguard, you feel pretty low at that point. Absolutely.
But my wife, she was my girlfriend at the time, helped me get out of that hole, encouraged me to go take that job interview, which pulled me out of that dark hole that I was in. Wow. Shout out to her. Yeah, I went through a similar journey. I was at a super low point and my fiance got me out.
Yeah. I mean, they say that behind every successful man is a woman that pushed them. And I firmly believe that. I've been a testament of that because of my wife pushing me to levels that I don't think I would have gone myself. Because sometimes we get in these comfort zones that we're like, man, this feels good. I'm good. 100%. Especially when kids get in the mix too.
Oh, yeah. I sit down and I look at my son and I'm like, okay, I got to go even harder for him. My wife was one level and then my son is an extra level because my wife, if she was to be on her own, she could provide for herself. My son, if he's on his own, he can't provide for himself. Facts. You're the only source there. So it's like this internal burning of like, I've got to go. Yeah.
I've got to get it going. And I'm seeing a lot of my friends now and people I know just have trouble raising kids because of finances. Yeah. And it's sad to see.
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Chapter 4: How can documenting your life lead to tax benefits?
Chapter 5: What are the tax strategies for personal brands?
100%. Especially when kids get in the mix too.
Oh, yeah. I sit down and I look at my son and I'm like, okay, I got to go even harder for him. My wife was one level and then my son is an extra level because my wife, if she was to be on her own, she could provide for herself. My son, if he's on his own, he can't provide for himself. Facts. You're the only source there. So it's like this internal burning of like, I've got to go. Yeah.
I've got to get it going. And I'm seeing a lot of my friends now and people I know just have trouble raising kids because of finances. Yeah. And it's sad to see.
Yeah. And that's my book that I'm finishing up writing, Genetics of Wealth. 78% of Americans are living paycheck to paycheck. Jeez. And don't even have $1,000 in their savings account. I mean, that's an insane amount. When I did that research, I was shocked. Crazy.
I mean, I knew that people's finances weren't in great spots, but I was shocked that it was that high. I mean, you walk around and eight out of every ten people you see don't even have $1,000 in their bank account. That's nuts.
which means, you know, one month's rent and you're done, you know, one hard month and you're done. Yeah. Which is scary, you know, especially when you have wife and kids, it gets even scarier.
Oh yeah. Yeah. That's why you need a safety net these days. Cause you don't know what's going to pop up. I've had random, I'm a homeowner now and I've just had random stuff popping up. It's like, damn. Yeah. Average person wouldn't be able to afford this.
No. And I mean, I have a lot of clients that, you know, $40,000 a year, $20,000 a year by owning a home. And it's like, whoa. And you're like, dude, I put all my money on the down payment. What is all this?
That happened to me. I had to dip into my savings because I wasn't prepared for all these additional expenses. We just had to replace the fridge yesterday. That's $2,000. So stuff like that's pretty normal as a homeowner. Right, right. Yeah, and for me, I'm a big proponent of renting. Oh, yeah?
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