Summary

Tom Wheelwright’s mission is to help entrepreneurs and investors to be able to pay less in taxes, help them to understand this tax code, and be able to align their interests with the government to do what the government incentivizes them to do.  Join Steven and Tom as they discuss how you earn your money has a major impact on how much tax you pay,  how paper assets are of little benefit to you tax-wise, how behaving like a big business can bring lower taxes and so much more.  

Key Takeaways

  1. You have the choice to pay the maximum out of tax or make those investments that reduce taxes and make money at the same time
  2. If you get the professional investor designation that the government wants you to have to increase your protection, you can actually get a very low tax rate  to zero
  3. If you take your money and reinvest it in the economy, particularly in those ways that the government prefers, you’re going to get a major tax benefit
  4. Debt is what makes real estate powerful from a tax standpoint, as well as from an investment standpoint
  5. If you are a passive investor, you can only offset your deductions from that passive investment against passive income.

Resources Mentioned

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About our Guest:

Tom Wheelwright – Tax and Wealth Expert is a CPA, CEO of WealthAbility®, Best-Selling Author of Tax-Free Wealth (Rich Dad Advisors Series), Speaker, Entrepreneur and Host of 2 popular podcasts: The WealthAbility® Show with Tom Wheelwright CPA and The WealthAbility® for CPAs Show. Wheelwright has spoken on stage on every continent to over 100k entrepreneurs, small business owners and investors. His goal is to help people achieve their financial dreams faster by permanently and legally reducing their taxes. Wheelwright is a Contributor to Entrepreneur magazine, and his work has been seen in Forbes, The Wall Street Journal, The Washington Post and on FOX and Friends, Marketplace / NPR, ABC News Radio and hundreds of media. For more information, visit https://tomwheelwright.com/and https://wealthability.com/tom/.

FEATURED EPISODES

Learn from the smartest minds in business & investing.

Rod-Khleif

Rod Khleif

Director at The Lifetime CashFlow Academy, Best Selling Author & High Performance Coach
Kathy Fettke

Kathy Fettke

Co-CEO of Real Wealth Network, Host of the Real Wealth Show & author of Retire Rich with Rentals
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Chris Voss

World's #1 Negotiation Coach, Bestselling Author "Never Split The Difference"
Brandon-Turner

Brandon Turner

Cohost of BiggerPockets Podcast, Author and Managing Member of Open Door Capital LLC
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David Allen

Leading authority in organizational and personal productivity, Author of Getting Things Done
Joe-Fairless

Joe Fairless

Host of Best Real Estate Investing Advice Ever show, Co-Founder of Ashcroft Capital

About The Show

What separates those who succeed from failures? Join thousands of listeners who learn the mindset of real estate investing and how to create multiple income streams. From busy professionals interested in passive investing or the real estate entrepreneurs who are primed to scale all come together to learn the mindset of creating financial and time freedom.

The Investor Mindset is a mix of interviews, and solo shows from Steven you’re not going to want to miss. Hit subscribe, and get ready to change your life.

YOUR HOST:

Steven Pesavento

The Investor Mindset Podcast & President VonFinch Capital

Steven Pesavento has always been obsessed with understanding how we can think better, how we can be better and how we can do better. He is an active real estate investor who curates Commercial Real Estate Investments for clients.

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