Universal Basic Income

[videogamesrock]

Using student loans to purchase real estate is not legal. Getting more back than what you paid in to fund your livelihood is living off the government. You've also advised people to do illegal things with filing their taxes, such as claim tuition that was paid for by grants. The rules make it clear that you cannot do that. I can't believe there are people advocating tax fraud on this forum. This isn't creative; this is criminal.

I advised people to use their 1098T forms to enter on their tax returns - schools do not issue 1098T's when grant money has been used to pay for tuition. I've also told people they can classify their education such as clep and other alternatives as continued education expenses, it won't qualify them for the tax credit but will offset some of that tax burden. I have never told anyone to incorrectly categorize their educational expenses to commit tax fraud, in fact I have told people that I do not believe that their graduation fees can be used towards the tax credit.

I've also stated that I've used student loans to indirectly achieve my goals, by using the loans to cover my daily living expenses while I've been able to use my income to cover closing costs. Loans pay for food, shelter, travel and income goes into savings to cover closing costs. This ma'am is not fraud this is playing by the legal rules created by the government. My books clearly show that my loan money went to costs of living and my income went to cover costs of doing business. In my 20's I paid an atrocious amount of income tax up to $60,000 annually not to mention the $15,000 that I sent to medicare and social security. So if the government wants to send me $5200 a year to go to school then I'll take it, and if they want to subsidize my insurance I'll take it, both are not fraud nor illegal. You clearly are upset that my tax structure automatically qualifies me for Pell when I fill out my FAFSA and for Obamacare subsidy, I look at it as a refund for all the years I've sent ridiculous amounts of money so that the government can waste it on fraud and abuse. However, if it were an option, I probably wouldn't buy insurance at all but I'd rather avoid the tax penalty so that they can cover the scam known as Obamacare.

When I log into the Obamacare exchange my insurance is automatically reduced, and the Pell shows up when I fill out my FAFSA.

Now the government guarantees my business loans and educational loans, but loans are made to be repaid and are not considered living off of the government. My wife and I are currently restructuring our mortgages because Fannie/Freddie will allow an individual to have ten mortgages each, but not if both are on the same mortgage. This is all about planning ahead and structuring your finances with the rules that the government hands us. I pay the government backed loan at $450 a month, I collect $975 a month from the tenant, after I depreciate the property I owe zero to the federal government and we are all creating legal commerce in a legitimate business venture.

You've asked me to give people financial advice, I've had several PM because of this thread to get more information which I gladly shared without expecting anything in return. But that fact that you are calling me a criminal and a tax cheat is uncalled for, everything I do is 100% aligned with the laws of the country, I do not bend the rules to achieve unlawful gain.