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April 18, 2023 - The Adam King Show

09:33

Top Tax Attorney Discusses How To Avoid Taxes

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	All right, and we're back, everybody.
	We got such an action-packed show for all the info warriors out there.
	I am your host, filling in for Harrison Smith, Adam King, host of The Adam King Show on Bandop Video, and you are watching The American Journal.
	Our next guest, coming from the glorious Republican stronghold in California, Don Hately, managing partner of Hately& Hampton, and the CEO and owner of OC Fight Club.
	Our best up-and-coming MMA league.
	Don, welcome to the American Journal.
	Thank you, Adam. Nice to see you again.
	Good to see you, Agent 225.
	Yes, and you're 227.
	That's an inside joke. We keep it real.
	Listen, man, it's great to have you on the show, first of all.
	Thank you. So, you know, episode 29, I think it is, of the Adam King Show, I take everybody to OC Fight Club, and we have this ripping good time.
	Don, you're like a superstar attorney, accountant, CPA, everything.
	We're going to get into some tax law, but before we do that, I want to plug for OC Fight Club and encourage everybody to check out episode 29 and see what Don does, because it's really cool.
	It's like a feeder league to the UFC. You're going to run a video?
	No, we're not going to run a video because we've got such a short segment, but I want to give a plug.
	So we have a company called Combat Sports Entertainment.
	We own a company called Engelbrecht Promotions and Events, which was...
	Thank you.
	And we acquired that company in 2019.
	And we've sold out our last 14 shows.
	You were at our show, I guess, what, two shows ago.
	And we have a fantastic operation, and we're scaling that into a feeder league.
	Think of college football to the NFL. So there we go.
	So we're creating...
	Oh, I have a video right there.
	That was from my phone camera.
	Yeah, so we're creating a minor league system for MMA. And we're excited to get that launched.
	We're... We'll also be launching a Extreme Roller Derby, which is very exciting.
	So think of Roller Derby with an MMA component.
	That's going to be cool, and we're going to be repping InfoWars straight from the center of the ring, so we want all the InfoWars to check it out.
	When's the next fight? June 8th, I think?
	Well, we actually have a fight coming up next week that we're putting on for another promoter, and it's going to be in a triangle-shaped ring.
	So that's going to be interesting.
	But our next Fight Club OC fight will be on June 8th.
	Alright, awesome.
	Moving forward into some heavy, serious topics because you're like an everything type of a person.
	Super spy. Attorney, tax, everything.
	Just for all of our info warriors, Don actually was on the delegation that Trump took with him to Saudi Arabia back in the day.
	It was a sub-delegation that we went over there as part of, put on by a guy in New York.
	But yeah, we got to meet a lot of people there.
	So I'm wearing my, I don't know if you can see here, it's patriotic day today, Adam.
	It is. Oh, that is the patriotic day.
	That is the day that we rebel against my coffee cup.
	Nice one. Do you know what that is?
	No, tell me. That's a spy plane.
	That's the U2 spy plane.
	Oh, they use balloons.
	Huh? I said they use balloons now.
	No, no, but the significance.
	What's today, Adam?
	This is tax day.
	It's tax day. Do you remember what happened when Obama was in the White House with taxes?
	He persecuted everybody that he didn't like.
	Yeah, he was targeting conservative groups and non-profits.
	Why do you think Lewis didn't go to jail for that?
	Well, you know, at the time, Comey was head of the FBI, and under his investigation, of course, he found no wrongdoing, no targeting.
	Of course, I'm sure.
	Trump is going to prosecute all these bastards, right?
	However, they did end up settling, when Trump took office, they did end up settling that case against a number of conservative groups, sued the IRS, sued the Justice Department, and so that got settled when Trump was there.
	I don't think that there's anything more oppressive in this country than taxes.
	You know, it's interesting.
	It's sort of... There's selective enforcement with our laws.
	There's no enforcement of the borders, but if you don't pay your taxes, for sure.
	You know why, right?
	Because they hate us.
	It feeds them. You're paying the salaries of these people.
	Yeah, and they need more money from...
	They need us to fund the war in Ukraine.
	Such bastards.
	You know, our country was off of not paying taxes.
	And, you know, everybody talks all the time about, like, nonviolent engagement and peaceful protest and everything.
	And I always tell people, like, if you don't feel like your country is representing you, just stop paying taxes.
	You know, if enough of us stop paying taxes, we make the system.
	If everybody did, that would be a wake-up call, right?
	Yeah, and it's a nonviolent way.
	Nobody's got to die. Nobody's got to get punched in the face.
	I'm sure all the pink-haired liberal loonies have come running out saying, no, pay your taxes!
	Pay your taxes!
	Or else I'm not going to pay my government on the transgendered surgery!
	We may need another Tea Party, right?
	Literally. You know these guys, I don't know if this is 100% true or not, but I think it is.
	The British tax that was opposed on the colonists was a 2% tax.
	And that was enough to rebel against the crown of England.
	And here we're paying, like in some places, over 50% when you add up all the taxes.
	And I like to say, what is the difference between capitalism and socialism?
	It's very simple. 51% taxes.
	If you are the prime beneficiary of your labor, it's capitalism.
	If the government and society is, it's socialism.
	Let's talk about some tax tips on the last day.
	Yeah, please. We've got about a minute and a half.
	Give our InfoWarrior something.
	A lot of people work at home now, and they don't realize or they don't take advantage of the home office deduction.
	So you can certainly do that.
	If you had to move during the year, a lot of people relocated with COVID.
	There's moving expense deduction, health insurance premiums, student loan interest, job search expenses are deductible.
	Gambling losses to the extent of your gambling winnings.
	So you just can't write off your losses.
	But if you have winnings, you can offset the winnings with your losses.
	Now, I was able to make a fortunate bet being a USC fan.
	I bet last year at Mirage that Caleb Williams would win the Heisman Trophy and I won that bet.
	So I don't have any losses.
	Charitable, my I'm sorry.
	Sorry.
	No, go ahead.
	Charitable.
	Oh, hold on.
	Here. We got like 20 seconds left, and then it's going to cut out to commercial.
	Okay. Charitable deductions, tax preparation fees, things like that, travel-related business expenses.
	Make sure you keep track of all those things.
	Any education and training expenses.
	Start-up costs. A lot of people are starting up their companies $5,000 deductible.
	We're going to be right back.
	and people can find him at Haley and Hampton.
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