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Loopholes of the Rich helps Americans from all walks of life use the same tax loopholes that the wealthy use to lower their tax bill. With this handy guide, you won?t need an accountant to find quick and easy ways to pay less. And there?s nothing unethical about these tax loopholes. In fact, the government wants you to take advantage of them! These tax-reducing tactics and strategies can give you the freedom to save for your family?s future or for your own financial independence. Plus, you?ll find a handy checklist of more than 300 business deductions, real-life tax strategy examples, useful sample forms, explanations of IRS codes and rules, and much more.
- Sales Rank: #214399 in Books
- Published on: 2004-12-20
- Released on: 2004-12-06
- Original language: English
- Number of items: 1
- Dimensions: 9.06" h x .90" w x 6.08" l, .93 pounds
- Binding: Paperback
- 336 pages
- ISBN13: 9780471711780
- Condition: New
- Notes: BRAND NEW FROM PUBLISHER! 100% Satisfaction Guarantee. Tracking provided on most orders. Buy with Confidence! Millions of books sold!
From the Back Cover
"In this book, Loopholes of the Rich, you are going to legally learn
how to make more money, keep a whole lot more, and pay less taxes".
—from the Foreword by Mark Victor Hansen
Co-creator, #1 New York Times bestselling series Chicken Soup for the Soul�
Taxes are the single biggest expense for the average American today. In fact, small changes in the amount of taxes you pay can lead to big changes in you and your family's quality of life. This newly revised edition of Loopholes of the Rich covers all the most effective and legal tax strategies—and loopholes just like the rich use—so that people from every tax bracket can pay less and keep more of what they earn.
There's nothing unethical about tax loopholes. The government wants you to take advantage of them! Even better, these tactics and strategies are a great way to save for your family's future or achieve financial independence. Packed with motivational true stories and practical tax strategies, the book covers the vital areas of business structures, tax-advantaged wealth building, and asset protection. And there's more:
- Take control of when and how much you pay in taxes
- Develop a personalized tax loophole strategy
- Create a systemized approach to building wealth through the tax advantages that the IRS wants you to use
- Structure your business to lower its tax burden and protect your wealth
- And legally and ethically lower your tax bill
You'll also find a helpful checklist of 300+ business deductions, real-life tax strategy examples, useful sample forms, and details on IRS codes and rules.
About the Author
DIANE KENNEDY, CPA, is a top real estate author and investing expert. She holds seminars across the country on how to legally and ethically minimize tax obligations. She is the founder and owner of DKA, a leading tax strategy and accounting firm. She is also the coauthor of The Insider's Guide to Real Estate Investing Loopholes and The Insider's Guide to Making Money in Real Estate, both from Wiley.
Most helpful customer reviews
30 of 34 people found the following review helpful.
Loopholes of the Rich: How the Rich Legally Make More Money
By RUdaman
Having just started my own small business, this book really provided the insight and perpective I needed on ways to structure my enterprise.
What particularly appealed to me was Diane's style and approach. Too many books of this nature don't create a comfortable and readable format that makes intimidating information like this understandable and easy to digest.
Her five steps to financial freedom helped define for me what income is, how to create a good team to position myself for success, and the best ways to evaluate the progress.
Same with the 3-step tax code, which sums up the reams of government-speak tax laws on regulations, rulings and procedures.
The book is a great compliment to the Rich Dad series. Kiyosaki walks the talk by having Diane on his team.
45 of 53 people found the following review helpful.
A Path So You Can Work For You
By K. Johnson
It's Not How Much Money You Make, It's How Much Money You Keep.
The title of this book is accurate, and it could have also been entitled, "Loop-Holes Of Those With Common Sense." There are numerous advantages available to those who take the risk and have the creativity and fortitude to do something on their own. These people are compensated for it if they educate themselves and IF they succeed. And on the contrary, being an employee is for most people. Much less control but some security, the routine of the comfort zone, and a familiar role defined within the job and confines of a corporate or governmental job. But today, for the employee, is there job security? Is there a routine and comfort zone? Will your job be there for you every morning? And, when it's not, will it be gone by your choosing or your employers?
After only a few chapters we'll once again be reminded of the futility of being a W-2 working stiff, perfunctorily accepting the crumbs that are left over after taxes. This book will be most beneficial to people who have recently, or have now just started to change, the way they think. Experienced small business folks, entrepreneurs, and MLMers, will likely (but not necessarily) already have most of this information down.
The premise of "Loop-Holes" provides us with the facts: since the 1943 federal tax law tragedy Americans work, pay taxes, earn, then spend. All in that order. After taxes and paying expenses, what's left for the middle class person who works as an employee? Ask yourself how much YOU have left. Whether your a service sector employee or upper-middle class professional, how much of the money you earn, goes in your pocket? And of what does go into your pocket, how much of it stays there? If you file a W-2 and are classified as an employee you will work a lot, but you are not likely to "make money." But you will have the liabilities (
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