36 min listen
134: Quit Overpaying Your Taxes with Tom Wheelwright
134: Quit Overpaying Your Taxes with Tom Wheelwright
ratings:
Length:
43 minutes
Released:
May 5, 2017
Format:
Podcast episode
Description
#134: Tom Wheelwright, Rich Dad Advisor and Founder of ProVision talks with Keith about classifying income property repairs vs. improvements. We discuss how 401(k)s are for people that care little about involvement in their financial future. Will taxes ever get simpler? Tom says no. Classifying repairs vs. improvements is a big deal. There’s a $2,500 threshold distinguishing the two categories. Want more wealth? Visit: 1) www.GetRichEducation.com to subscribe to our free newsletter. 2) www.GREturnkey.com for actionable turnkey real estate investing opportunities. Listen to this week’s show and learn: 03:40 Early civilizations collected taxes: Ancient Egypt, Imperial China, the U.S. vs. Britain. 07:22 Income tax hurts employees most, beginning in 1944. 09:03 Will taxes ever get simpler? No. 11:30 Classifying repairs vs. improvements. “The $2,500 Rule.” 23:53 401(k) participation. Why would educated people be interested in one? 30:10 401(k)s are Salary Reduction Plans. 32:22 Before-tax vs. after-tax rates of return. 34:06 How to find the right tax advisor. Resources Mentioned: TaxFreeWealthAdvisor.com NoradaRealEstate.com TheRealAssetInvestor.com/GRE HighlandsMortgage.com MidSouthHomeBuyers.com GetRichEducation.com GREturnkey.com
Released:
May 5, 2017
Format:
Podcast episode
Titles in the series (100)
8: Your Market Determines Your Profit: #8: Discover how to create another income stream with a durable asset like real estate, and not have to do the work on your own. Listen to this week’s show and learn: 01:37 How to put less than a 20% down payment on your primary residence, yet... by Get Rich Education