Fri, 18 December 2015
#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.
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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.”
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.
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