The Adam King Show - Top Tax Attorney Discusses How To Avoid Taxes
Aired: 2023-04-18
Duration: 09:33


=== OC Fight Club Show (03:44) ===

[00:00:00]  All right, and we're back, everybody.
[00:00:02]  We got such an action-packed show for all the info warriors out there.
[00:00:07]  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.
[00:00:15]  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.
[00:00:29]  Our best up-and-coming MMA league.
[00:00:32]  Don, welcome to the American Journal.
[00:00:35]  Thank you, Adam. Nice to see you again.
[00:00:39]  Good to see you, Agent 225.
[00:00:42]  Yes, and you're 227.
[00:00:44]  That's an inside joke. We keep it real.
[00:00:48]  Listen, man, it's great to have you on the show, first of all.
[00:00:51]  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.
[00:01:05]  Don, you're like a superstar attorney, accountant, CPA, everything.
[00:01:09]  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.
[00:01:17]  It's like a feeder league to the UFC. You're going to run a video?
[00:01:24]  No, we're not going to run a video because we've got such a short segment, but I want to give a plug.
[00:01:29]  So we have a company called Combat Sports Entertainment.
[00:01:33]  We own a company called Engelbrecht Promotions and Events, which was...
[00:01:39]  Thank you.
[00:01:48]  And we acquired that company in 2019.
[00:01:51]  And we've sold out our last 14 shows.
[00:01:54]  You were at our show, I guess, what, two shows ago.
[00:01:59]  And we have a fantastic operation, and we're scaling that into a feeder league.
[00:02:07]  Think of college football to the NFL. So there we go.
[00:02:10]  So we're creating...
[00:02:12]  Oh, I have a video right there.
[00:02:15]  That was from my phone camera.
[00:02:16]  Yeah, so we're creating a minor league system for MMA. And we're excited to get that launched.
[00:02:23]  We're... We'll also be launching a Extreme Roller Derby, which is very exciting.
[00:02:30]  So think of Roller Derby with an MMA component.
[00:02:35]  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.
[00:02:41]  When's the next fight? June 8th, I think?
[00:02:43]  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.
[00:02:53]  So that's going to be interesting.
[00:02:55]  But our next Fight Club OC fight will be on June 8th.
[00:03:00]  Alright, awesome.
[00:03:02]  Moving forward into some heavy, serious topics because you're like an everything type of a person.
[00:03:09]  Super spy. Attorney, tax, everything.
[00:03:14]  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.
[00:03:23]  It was a sub-delegation that we went over there as part of, put on by a guy in New York.

=== Tax Day Rebellion (04:31) ===

[00:03:31]  But yeah, we got to meet a lot of people there.
[00:03:34]  So I'm wearing my, I don't know if you can see here, it's patriotic day today, Adam.
[00:03:40]  It is. Oh, that is the patriotic day.
[00:03:44]  That is the day that we rebel against my coffee cup.
[00:03:48]  Nice one. Do you know what that is?
[00:03:52]  No, tell me. That's a spy plane.
[00:03:55]  That's the U2 spy plane.
[00:03:58]  Oh, they use balloons.
[00:04:01]  Huh? I said they use balloons now.
[00:04:05]  No, no, but the significance.
[00:04:07]  What's today, Adam?
[00:04:09]  This is tax day.
[00:04:11]  It's tax day. Do you remember what happened when Obama was in the White House with taxes?
[00:04:18]  He persecuted everybody that he didn't like.
[00:04:20]  Yeah, he was targeting conservative groups and non-profits.
[00:04:24]  Why do you think Lewis didn't go to jail for that?
[00:04:28]  Well, you know, at the time, Comey was head of the FBI, and under his investigation, of course, he found no wrongdoing, no targeting.
[00:04:37]  Of course, I'm sure.
[00:04:38]  Trump is going to prosecute all these bastards, right?
[00:04:44]  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.
[00:05:02]  I don't think that there's anything more oppressive in this country than taxes.
[00:05:08]  You know, it's interesting.
[00:05:09]  It's sort of... There's selective enforcement with our laws.
[00:05:15]  There's no enforcement of the borders, but if you don't pay your taxes, for sure.
[00:05:22]  You know why, right?
[00:05:24]  Because they hate us.
[00:05:26]  It feeds them. You're paying the salaries of these people.
[00:05:30]  Yeah, and they need more money from...
[00:05:32]  They need us to fund the war in Ukraine.
[00:05:34]  Such bastards.
[00:05:36]  You know, our country was off of not paying taxes.
[00:05:39]  And, you know, everybody talks all the time about, like, nonviolent engagement and peaceful protest and everything.
[00:05:46]  And I always tell people, like, if you don't feel like your country is representing you, just stop paying taxes.
[00:05:53]  You know, if enough of us stop paying taxes, we make the system.
[00:05:57]  If everybody did, that would be a wake-up call, right?
[00:06:01]  Yeah, and it's a nonviolent way.
[00:06:04]  Nobody's got to die. Nobody's got to get punched in the face.
[00:06:07]  I'm sure all the pink-haired liberal loonies have come running out saying, no, pay your taxes!
[00:06:12]  Pay your taxes!
[00:06:14]  Or else I'm not going to pay my government on the transgendered surgery!
[00:06:19]  We may need another Tea Party, right?
[00:06:22]  Literally. You know these guys, I don't know if this is 100% true or not, but I think it is.
[00:06:29]  The British tax that was opposed on the colonists was a 2% tax.
[00:06:33]  And that was enough to rebel against the crown of England.
[00:06:37]  And here we're paying, like in some places, over 50% when you add up all the taxes.
[00:06:43]  And I like to say, what is the difference between capitalism and socialism?
[00:06:49]  It's very simple. 51% taxes.
[00:06:52]  If you are the prime beneficiary of your labor, it's capitalism.
[00:06:56]  If the government and society is, it's socialism.
[00:07:00]  Let's talk about some tax tips on the last day.
[00:07:05]  Yeah, please. We've got about a minute and a half.
[00:07:07]  Give our InfoWarrior something.
[00:07:08]  A lot of people work at home now, and they don't realize or they don't take advantage of the home office deduction.
[00:07:15]  So you can certainly do that.
[00:07:18]  If you had to move during the year, a lot of people relocated with COVID.
[00:07:23]  There's moving expense deduction, health insurance premiums, student loan interest, job search expenses are deductible.
[00:07:32]  Gambling losses to the extent of your gambling winnings.
[00:07:37]  So you just can't write off your losses.
[00:07:39]  But if you have winnings, you can offset the winnings with your losses.
[00:07:45]  Now, I was able to make a fortunate bet being a USC fan.

=== 1776 Testosterone Boost Back in Stock (01:47) ===

[00:07:48]  I bet last year at Mirage that Caleb Williams would win the Heisman Trophy and I won that bet.
[00:07:55]  So I don't have any losses.
[00:07:57]  Charitable, my I'm sorry.
[00:08:01]  Sorry.
[00:08:03]  No, go ahead.
[00:08:05]  Charitable.
[00:08:07]  Oh, hold on.
[00:08:08]  Here. We got like 20 seconds left, and then it's going to cut out to commercial.
[00:08:11]  Okay. Charitable deductions, tax preparation fees, things like that, travel-related business expenses.
[00:08:18]  Make sure you keep track of all those things.
[00:08:21]  Any education and training expenses.
[00:08:24]  Start-up costs. A lot of people are starting up their companies $5,000 deductible.
[00:08:30]  We're going to be right back.
[00:08:31]  and people can find him at Haley and Hampton.
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[00:09:07]  And I'm just going to tell you, bottom line, my wife is blown away.
[00:09:11]  I am a Tyrannosaurus Rex in the sheets.
[00:09:15]  And I'm telling you, at 49, I've got more energy in that department than I had when I was 18.
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