Get Rich Education 62: Tom Wheelwright | Make Your Travel & Meals Tax-Deductible; Avoid An Audit; Recent Tax Changes
#62: Rich Dad Advisor and Provision Wealth Founder Tom Wheelwright updates you about recent tax changes; provides tips for avoiding and dealing with an audit; and how to make your travel, meals and entertainment tax-deductible.
Keith brings you the show from Juneau, Alaska today.
Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive Turnkey RE webinar opportunities.
Listen to this week’s show and learn:
02:35 Actually, the U.S. has the best tax compliance record in the world.
06:02 Now you can lose your passport for tax non-compliance!
09:25 During audits, the IRS is becoming more difficult & invasive.
14:00 Tips to help avoid an audit. It includes: call the deduction “continuing education” rather than a “seminar.”
17:37 Why you should never talk to the IRS.
20:45 Tax actions you can take now: 1) Pay your children, 2) Home office, 3) Automobile use. 4) Accelerate income.
27:30 Making your travel, meal, and entertainment expenses tax-deductible.
34:18 “Low-hanging fruit” ways to save on your taxes.
35:32 Tom believes in focusing on an investment niche. “A niche makes you rich.”
Resources:
ProvisionWealth.com - Tom Wheelwright’s Tax and Wealth Strategy firm.
TaxFreeWealthBook.com - Tom Wheelwright’s popular book, Tax-Free Wealth.
MidSouthHomeBuyers.com or call (901) 217-4663 for Top-Notch Turnkey Rental Properties.
NoradaRealEstate.com or call (800) 611-3060. Your Premier Source for Nationwide Turnkey Cash-Flow Investment Property.
GetRichEducation.com - that’s where to subscribe to our free newsletter, receive turnkey real estate webinar opportunities, and see all Events.
Download the GRE Android App at Google Play to keep the GRE icon right on your phone’s home screen!
We would be so grateful if you wrote a review! Here’s how to write one at: iTunes, Stitcher, and Android.
To get a free GRE logo decal for your review, send: 1) A screenshot of your review. 2) Your mailing address to: Info@GetRichEducation.com