Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes (Rich Dad Advisors) PDF AZW3 EPUB MOBI TXT Download

After 31 years… Major Tax Reform ― and what it means to you True overhaul of the tax law only happens about once every 30 years. In the past 75 years, the U.S. tax law has only seen three major revisions; one in 1954, the next in 1986 and most recently at the end of 2017. I have been fortunate as a tax professional to be heavily involved in the last two reforms. In 1986, I was a manager in the National Tax Department (NTD) of Ernst & Whinney (now Ernst Young). My primary responsibility during my three years there was to create, teach and administer tax courses to the Firm’s U.S. tax professionals. Just as I arrived in the summer of 1985, I discovered that much of NTD’s resources were being devoted to following the tax reform bill that had been introduced that year. This gave me, as a young tax professional, some amazing insight into the legislative process as well as the horse trading for tax reform. President Reagan wanted two things; simplicity (the 1985 act was call the Tax Simplification Act of 1985) and he wanted it to be revenue neutral (no net increase to the deficit). It took another year before bill was finally passed as the Tax Reform Act of 1986. (Simplicity took a back seat to other goals of the reform.) In 1986 the big winners from tax reform were individuals, with significantly lower tax rates, insurance companies (who got by relatively unscathed) and businesses. The big loser was real estate investors (the passive loss rules were used as a last-ditch effort to make a “revenue-neutral” bill. The result a few years later was the Savings and Loan debacle accompanied by a massive real estate depression and the government bailing out real estate through the RTC (Resolution Trust Corporation). Fast forward 31 years to 2017. President Trump had promised economic stimulus and had stumbled out of the blocks with the failure to repeal ObamaCare. Everyone thought tax reform would take two years to complete like it had in 1985-1986. Instead, the Republican-controlled Congress was able to use slick procedural rules to pass major tax reform in record time (less than three months from start to finish). The result was a bill the consequences of which and application of which are still largely unknown. Known are the clear winners and losers. Losers include employees with lost deductions for moving, investment expenses and reductions in home mortgage interest and state income tax deductions. Winners include big corporations, with a major tax reduction from 35% to big corporations, with a major tax reduction from 35% to 21%, small businesses, with a 20% net income deduction, and real estate, with major depreciation incentives and the 20% net income deduction given to other small businesses. The key to remember is that very few people had the chance to influence this legislation. Everyone has the same chance to take advantage of the windfalls given to the winners. Employees can choose to be independent contractors and receive the 20% small business deduction. Service professionals who were left out of the 20% deduction can now become C corporations and reduce their tax rate to 21%. Investors who received tax benefits from the costs of investing in the stock market can either begin investing in real estate, with its massive tax benefits, or invest through their Roth IRA or Roth 401(k) and avoid tax altogether on the income and gains from their investments. Tax-Free Wealth is about using the tax law the way it’s meant to be used – as a series of incentives to do what the government wants you to do. This Second Edition incorporates some ideas of how to use the new incentives. The reality is that the incentives don’t really change that much. The government still wants businesses to hire employees, so businesses receive tax benefits for doing so. The government still wants investors to provide housing for renters (even more so now), so real estate investors receive large tax breaks for following through on the government’s goals. Energy is still favored, both traditional energy (oil & gas and coal) and renewable energy (wind, solar and hydroelectric). For U.S. taxpayers, you will find helpful tips in this new edition to help you apply the new tax incentives to your situation. As a bonus, I have included information and a link to a free eBook that you can download detailing the Top Ten Tax Benefits from the Trump Tax Reform. For you who live outside the United States, and no matter what country you live in, this edition should help you look for ways to apply your government’s incentives. You may even decide that now is the time to do business in the United States as that country. is, to some degree, a tax haven. You can take advantage of the tax incentives offered by your government only if you understand how the tax law works. Every day, you have the opportunity to reduce your taxes. Once you have digested this book, take it to your tax advisor and have them read it (or better yet, buy them their own copy). Then your tax advisor, who is responsible for understanding all of the technical details of the law, can help you apply them to your specific situation. Enjoy this book and let me know what you think. You can always reach me at [email protected] Here is to your Tax-Free Wealth.

Tom Wheelwright
June 26, 2018
320 pages

File Size: 17 MB
Available File Formats: PDF AZW3 DOCX EPUB MOBI TXT or Kindle audiobook Audio CD(Several files can be converted to each other)
Language: English, Francais, Italiano, Espanol, Deutsch, chinese

Tom Wheelwright, CPA, is the creative force behind WealthAbility, the world’s premier Tax-Free Wealth movement serving entrepreneurs and investors worldwide. As the founder and CEO, Tom has been responsible for innovating new tax, business and wealth consulting and strategy services for premium clientele for the past 22 years. Tom is a leading expert and published author on partnerships and corporation tax strategies, a well-known platform speaker and a wealth education innovator. Donald Trump selected Tom to contribute to his Wealth Builders Program, calling Tom “the best of the best.” Robert Kiyosaki, bestselling author of Rich Dad Poor Dad, calls Tom “a team player that anyone who wants to be rich needs to add to his team.” In Robert Kiyosaki’s book, “The Real Book of Real Estate,” Tom, himself, authored Chapters 1 and 18 of this book. Tom also contributed to Robert Kiyosaki’s Rich Dad’s Success Stories. Who Took My Money?, Unfair Advantage and was Robert adjuvant for Why the Rich Are Getting Richer. Tom has written several articles for publication in major professional journals and online resources and has spoken to thousands throughout the United States, Canada, Mexico, Asia, South America, Africa, Europe and Australia. For more than 35 years, Tom has devised innovative tax, business and wealth strategies for sophisticated investors and business owners in the manufacturing, real estate and high-tech fields. His passion is teaching these innovative strategies to the thousands who come to hear him speak. He has participated as a keynote speaker and panelist in multiple roundtables, and led ground-breaking tax discussions challenging the status quo in terms of tax strategies. Tom has a wide variety of professional experience, ranging from Big 4 accounting, where he managed and led professional training for thousands of CPAs at Ernst & Young’s National Tax Department in Washington,D.C., to in-house tax advisor for Pinnacle West Capital Corporation, at the time a Fortune 1000 company. Tom also served as an adjunct professor in the Masters of Tax program at Arizona State University for 14 years where he created the course for teaching multi-state tax planning techniques and taught hundreds of graduate students. He currently teaches his Tax and Asset Protection class with fellow Rich Dad Advisor, Garrett Sutton. Tom has his Master’s of Professional Accounting degree from the University of Texas at Austin and his Bachelor of Arts degree from the University of Utah. <div id="

  • According to this book, the only way to save money on your taxes is by starting a business, becoming a landlord, or investing in high risk commodity based things like oil wells, farms, and wind mills. You’re out of luck if you are a W2 based wage earner, just pay your taxes and enjoy being broke.This book is full of ridiculous ideas but, here are few of the more nonsensical tax saving strategies: Start a business and hire your kids. Start a business and make your kids partners. Trade stocks and options in your IRA.The list goes on and on. And the tax savings examples are just as ridiculous…one example uses a wage earner in the 40% tax bracket…really? The tax system is tiered and the highest tier is 37%. In fact , the entire book is chock full of over simplified examples showing how financially awesome it isto be an entrepreneur or landlord. I guess if you hate your job and are ready for a change, this book can certainly give you hope that one day, if you can be successful at some form of entrepreneurship, high risk investing, or being a landlord, you may be able to save money on your taxes. For the rest of us, we’re stuck.
  • I find it funny how people or “employees” are giving this book a one-star rating. It is not the author’s fault that employees get taxed the highest and, therefore, do not obtain significant credits or deductions. The fact is that employees and small businesses pay a top % in taxes compared to corporations or investors. That’s a fact. Now, if you are unhappy about that, you can go and complain about it to the government, not to the author of the book!*I enjoyed studying this book; I’ve read so many books about taxes, and this one is by far the best one I’ve read. The author knows what he is talking about and gives you all the facts rather than opinions. Thank you!Thank you!Why is this review marked as “sensitive”? This is an honest review.
  • I once heard an enrolled agent remark: “the first page of the tax code says ‘all income is taxable’. The other several thousand pages are exceptions to that rule”. . .Some of the “top” reviews complain about not being able to use this book as only a wage earner, or “sketchy ethics”. These people are ignorant and lazy. They want free money. They want maximum return from minimal or no effort. Ignore them. As far as ethics are concerned, unless it’s NOT legal, do you care? Honestly? We’re taxed more than is necessary, that money is then squandered, and or funneled back to useless politicians so they can buy yachts and summer homes. Wouldn’t you like to keep more of YOUR OWN money, rather than have it, in numerous cases, thrown it the trash? Do you want YOUR money sent to “study programs” outside this country when many families HERE aren’t even food secure?I have this book on audio, and was compelled to purchase and additional physical copy. If you’re looking to “cheat”, “swindle”, or “game” your way out of a tax burden, this IS NOT, the book for you. If you want to play the game according to the rules in place and stop overpaying, take control of your financial future and buy this book. Again, it’s not about cheating, fraud, or anything of the sort. It’s about understanding how to structure a business, no matter how small, so that YOU reap the rewards of the effort you’ve sewn.Best wishes 🤙🏽
  • Agree with other reviewers who say this book is half filler and half borderline unethical advice like hire your kids as business partners so you can be taxed at their income rate. At any rate, even if one wanted to partake in some of these questionable “tips” one would need to consult one’s “team of tax advisors and lawyer”…like….who has that kind of money? Oh, people who already have massive wealth. And also, this writer admits he bought he first business with a loan from his parents (and other acquaintances) so its not exactly a book to teach middle class people how to be more financially stable. I make a decent income and there was really nothing in here of value to me. Unless I wanna buy a house in Hawaii and rent it out so I can write off family trips to Hawaii as a business expense…yeah…that’s the kind of advice we’re talking about here. Oh, and how to make all of your lunches “business expenses” and eat for free.
  • In this book, Tom Wheelwright describes how paying high taxes can hinder an individual’s ability to achieve financial freedom as well as their other goals in life. While lower than in some European countries, taxes in the US are fairly high (>25%), especially for single individuals who earn W2 income (employees), and many traditional methods of reducing one’s tax bill are subpar since they focus on temporary tax deferral rather than permanent tax reduction. More importantly, however, Tom gives actionable advice on how to reduce your personal tax bill mainly by being aware of your financial situation and understanding the incentives offered to investors and business owners. For example, business owners pay less tax since they can write off various business expenses and structure their firm as an S-corp in order to mitigate payroll taxes. In addition, direct investors in real estate and oil& gas receive numerous tax benefits that can limit their tax liability or even result in a zero tax bill through the use of accelerated depreciation, 1031 exchanges, and various tax credits. Finally, Tom provides actionable advice regarding estate and retirement planning; the use of a Roth IRA is recommended over traditional IRAs & 401ks since all profits made within a Roth are tax-free, not tax deferred. Furthermore, he argues that while traditional retirement vehicles give investors an immediate tax deduction, that deduction comes at a steep cost of converting capital gains & dividend income into ordinary income which is taxed at a higher tax rate (roughly double). All in all, I highly recommend this book to any individual who aspires to be financially free and pay less tax.
  • Fantastic book had to buy another one for my accountant as well.
  • Amazing product
  • Excellent
  • 👍
  • I find this book is too much US focused and talked too much on the tax benefit of becoming a business owner or investor. To me, it more like an advertisement on promoting the “Rich Dad group”‘s training and services in stead of providing some real valuable tax advanced advice. I will return the book.
  • About :
    We are committed to sharing all kinds of e-books, learning resources, collection and packaging, reading notes and impressions. The book resources of the whole station are collected and sorted by netizens and uploaded to cloud disk, high-definition text scanning version and full-text free version. This site does not provide the storage of the file itself.
    Description of file download format: (Note: this website is completely free)
    The e-books shared by this site are all full versions, most of which are manually refined, and there are basically no omissions. Generally, there may be multiple versions of files. Please download the corresponding format files as needed. If there is no version you need, it is recommended to use the file format converter to read after conversion. Scanned PDF, text PDF, ePub, Mobi, TXT, docx, Doc, azw3, zip, rar and other file formats can be opened and read normally by using common readers.
    Copyright Disclaimer :
    This website does not store any files on its server. We only index and link to the content provided by other websites. If there is any copyrighted content, please contact the content provider to delete it and send us an email. We will delete the relevant link or content immediately.
    Download link description :
    We usually use Dropbox, Microsoft onedrive and Google drive to store files. Of course, we may also store backup files in other cloud content management service platforms such as Amazon cloud drive, pcloud, mega, mediafire and box. They are also great. You can choose the download link on demand.

    File Size: 17 MB