Action Academy | Millionaire Mentorship For Your Life & Business The 7 Best Investments To Eliminate Your Annual Tax Bill w/ Tom Wheelwright
Jan 24, 2024
In this engaging discussion, Tom Wheelwright, a CPA and tax strategist known for his work with wealthy individuals, shares savvy insights on eliminating your tax bill. He outlines seven government-incentivized investments that maximize tax advantages, from vibrant real estate benefits to strategic energy and agriculture incentives. Tom also dives into the comparison between 401(k)s and non-qualified plans, emphasizing the flexibility they offer. Discover how generosity in business can lead to greater tax benefits for society!
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Where Governments Put Their Tax Incentives
- Governments heavily incentivize activities that create societal value like jobs, housing, energy, tech, and agriculture.
- These incentives exist because governments want others to solve problems they prefer not to directly handle.
Global Differences In R&D Incentives
- Countries vary widely in how they incentivize technology and R&D, with some offering multi-hundred percent deductions.
- The US lags some nations like Singapore on R&D tax incentives.
Real Estate’s Tax And Debt Advantage
- Real estate offers large tax incentives and easy access to debt, making it a powerful investment vehicle.
- Debt in real estate is advantageous because borrowing is not taxed and banks are comfortable lending against property.
