HOW THE RICH SAVE BIG ON TAXES!

“The rich keep getting richer and the poor keep getting poorer.” Ever heard that one? Ever feel like that yourself? Me too, until I learned one of life’s best kept secrets. It shouldn’t be a secret, but few people know it.

 

When you do your taxes, how many write offs do you get? Do you just use the standard deduction? When all is said and done, do you pay around a third of your paycheck?

 

Would you believe that Warren Buffet, the 3rd richest man in the entire world, pays a lower tax rate? He does. Before you get angry though, do you want to know his secret?

 

 

“There wasn’t anyone in the office, from the receptionist on, who paid as low a tax rate…I’ll probably be the lowest paying taxpayer in the office.” -Warren Buffet, billionaire

 

 

Warren Buffet doesn’t have a fancy accountant to help him with his taxes, he doesn’t create complicated “tax shelters,” he just follows basic tax law.

 

The tax code is not built just so the rich keep getting richer, it is built to encourage entrepreneurs and job creators. It is built to help people who are building their dream. Why not be one of those people?

 

If you want to be like someone, follow in their footsteps.

 

Instead of getting mad about the richer getting richer, let’s learn how they do it: Tax Advantages.

 

When you start your own business (which is easy to do), you can start taking advantage of big tax deductions!

 

Woah! Now it’s all starting to sound complicated.

 

Don’t worry, it’s not as hard as it sounds.

 

Depending on how you set things up, you can start deducting:

 

• A Home Office

• Vehicle expenses

• Banking fees

• Business travel

• Dining during business travel

• Business related charitable

donations

• Computers and iPads

• Continuing education

• Entertainment for clients

• Health insurance

• Phone

• Utilities

• And much more!

 

The list really could go on for a long time. If you get involved in real estate, there are even more benefits!

 

You can deduct mortgages, rental losses, and take advantage of the lower capital gains tax (Warren buffet’s trick). You can save tens of thousands of dollars each year! Combine that with the mortgage acceleration strategy taught in our regular classes, and you will be well on your way to financial freedom.

 

So where do you start? How should you register your business? As an LLC, a C-Corp, S-Corp? What is the difference?

 

There are a lot of questions that still need answering. Like I said, it’s not hard but it does take some learning.

 

We hold regular events to help our community of investors learn what they need to know to be successful in real estate and in life. See what's going on in the next few weeks here.

Nate Lambert, Realtor/Investor

Cell: (801) 651-8000

nate@investandbefree.com