The IRS Is Disappearing (And The Rich Know It)

"It's not how much money you make that matters. It's how much money you keep."

This episode covers the newest updates to the tax overhaul President Trump signed in 2025, including how the IRS is now interpreting rules on overtime pay, tips, and the $1,000 Trump accounts for kids. He breaks down the actual 2026 marginal tax brackets, the higher standard deduction, and the new senior deduction, and notes that about a third of IRS auditors have recently been let go.

Jaspreet Singh walks through four assets wealthy people use to legally reduce how much they pay in taxes: the Roth IRA, real estate, oil, and business ownership. He explains strategies like the backdoor Roth IRA, real estate depreciation and the 1031 exchange, and the deductions available to business owners, drawing on conversations with Ken McElroy and Robert Kiyosaki to illustrate how each works in practice.

In this episode, you'll learn:

The updated 2026 marginal tax brackets under the One Big Beautiful Bill Act, and the new rules on tax free overtime pay and tip income, including the income phase out limits The increased standard deduction and the new $6,000 senior deduction for people over 65 How a backdoor Roth IRA works for high earners who exceed the income limits Real estate depreciation, accelerated depreciation, and the 1031 exchange Ken McElroy's example of using bonus depreciation on a billboard investment, and Robert Kiyosaki's approach to reducing his tax bill through oil well investments The qualified business income deduction and other common business write offs

Keywords: tax planning, tax brackets, One Big Beautiful Bill Act, Roth IRA, real estate depreciation, 1031 exchange, standard deduction, qualified business income, tax deductions, wealth building

✅ Grab a FREE copy of my ebook ABB: Always Be Buying here:

Welcome to the Minority Mindset Show! Want more financial news? Join Market Briefs, my free daily financial newsletter: https://link2.briefs.co/gieBelow are my recommended tools!Please note: Yes, these are our sponsors & advertisers. However, these are companies that I trust and use (or have used). The compensation doesn't affect my recommendations or advice. That being said, you should always do your own research & never blindly listen to a random guy on YouTube (or podcast).----------➤ Invest In Stocks Passively1) M1 Finance - Buy stocks & ETFs automatically:https://theminoritymindset.com/m1----------➤ Life Insurance2) Policygenius - Get a free life insurance quote:https://theminoritymindset.com/policygenius----------➤ Real Estate Investing Online3) Fundrise - Invest in real estate with as little as $10!https://theminoritymindset.com/fundrise----------