Cameron and Anthony unpack the complexities of tax planning with expert, Mark Perlberg CPA. They delve into the under-utilized tactics CPAs overlook, explore strategies for both affluent clients and individuals starting their financial journeys, and discuss the niche opportunities that savvy investors and entrepreneurs can leverage for tax benefits. From real estate investment nuances to the subtle art of charitable deductions, the trio covers ground that could redefine your approach to taxes and long-term wealth.
3 Key Lessons:
- Structuring your business for tax efficiency and engaging in proactive tax planning can reveal significant tax-saving opportunities, especially for individuals with business or investment income between the one to five million mark. Identifying these opportunities requires expertise, and consulting with a tax specialist is crucial for personalized tax strategies.
- Investment vehicles such as real estate can provide not only passive income but also potential tax benefits. Understanding and qualifying for the real estate professional status or delving into oil and gas investments can be game-changers for offsetting other forms of income, including W-2 earnings and capital gains, with the right documentation and strategy in place.
- Infinite Banking and Roth IRA alternatives present unique advantages and limitations based on individual financial goals. Entrepreneurs, in particular, might find the standard Roth IRA restrictions unappealing compared to more flexible strategies, and it's important to consider all investment avenues, including those that are often less discussed in traditional media.
Resources:
Reach out to Mark at info@markperlbergcpa.com
Website - https://www.markperlbergcpa.com/
Schedule your Discovery Call with Anthony or Cameron here
http://bit.ly/iwc15podcast
Check our online course at www.InfiniteWealthCourse.com
Buy Becoming Your Own Banker by R. Nelson Nash http://bit.ly/BYOBbookIWC
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The Infinite Wealth Podcast