103: Tax-Free Real Estate with Tom Wheelwright
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 30 September 2016
⏱️ 42 minutes
🧾️ Download transcript
Summary
#103: Tom Wheelwright is a tax genius and regular contributor here. He’s the Founder and CEO of ProVision Wealth, which prepares Keith’s tax returns. TaxFreeWealthAdvisor.com
Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Find turnkey real estate investing opportunities.
Listen to this week’s show and learn:
04:04 Every dollar of your income is either taxable or not taxable.
08:08 How you are double and triple-taxed.
09:59 How tax depreciation works for real estate investors.
13:33 Cost segregation.
16:10 Why Donald Trump won’t release his tax return.
20:14 Here’s when you start a tax and asset protection strategy.
23:40 Holding your real estate in an LLC vs. “S” Corp.
25:55 IRS audits and taking deductions.
28:06 Garrett Sutton.
29:40 Picking the wrong lawyer.
32:48 Audit prevention: 1) Documentation. 2) Competent tax preparer. 3) Don’t talk to the IRS.
Resources Mentioned:
TaxFreeWealthAdvisor.com or call 866-467-5809
Transcript
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| 0:00.0 | Get Rich Education is brought to by Norrida Real Estate Corporate Direct and Ridge Lending Group. |
| 0:08.6 | Cash flow real estate investors. This is Get Rich Education's Keith Weinhold. Did you know that you can finance up to 35 income properties all with one lender? |
| 0:18.4 | Ridge Lending Group specializes in investment property loans, |
| 0:22.4 | and they do it in almost every U.S. state. Ridge has worked with tens of thousands of real |
| 0:27.6 | estate investors and homeowners all over the country. They've been doing this for investors |
| 0:32.1 | for so long that at this point, they've helped more families realize their dreams of becoming |
| 0:37.4 | real estate investors |
| 0:38.3 | than any other mortgage lender in the country. To find out more, visit ridglinggroup.com. |
| 0:51.1 | Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and billionaires than anything else, and can provide you with more wealth and happiness than you ever thought possible. |
| 1:09.6 | Now, here's your host, investor, entrepreneur, business owner, and educator, Keith Weinhold. |
| 1:20.5 | Welcome to Get Rich Education. |
| 1:22.8 | This is episode 103. |
| 1:24.6 | I'm your host Keith Weinhold. |
| 1:26.1 | Today we're getting energized in your learning from |
| 1:29.3 | dynamic Rich Dad Tax Advisor Tom Wheelwright. He's a regular contributor here at Get Rich Education. |
| 1:37.0 | Now, Get Rich Education is not the show for you if you've got 15 minutes to fill out an online |
| 1:43.5 | survey to get half off an oil change |
| 1:45.7 | at Jiffy Lube or some zero impact nonsense like that. |
| 1:50.0 | Okay, we don't play fantasy football here. |
| 1:54.1 | I don't know the latest on Calvin Johnson's hamstring. |
| 1:56.9 | Kind of fun, but not really impactful. |
| 2:00.0 | We're here to help you construct a sound wealth building |
... |
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