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Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes

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Tax-Free Wealth is about tax planning concepts. It's about how to use your country's tax laws to your benefit. In this book, Tom Wheelwright will tell you how the tax laws work. And how they are designed to reduce your taxes, not to increase your taxes. Once you understand this basic principle, you no longer need to be afraid of the tax laws. They are there to help you and Tax-Free Wealth is about tax planning concepts. It's about how to use your country's tax laws to your benefit. In this book, Tom Wheelwright will tell you how the tax laws work. And how they are designed to reduce your taxes, not to increase your taxes. Once you understand this basic principle, you no longer need to be afraid of the tax laws. They are there to help you and your business--not to hinder you. Once you understand the basic principles of tax reduction, you can begin, immediately, reducing your taxes. Eventually, you may even be able to legally eliminate your income taxes and drastically reduce your other taxes. Once you do that, you can live a life of Tax-Free Wealth.


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Tax-Free Wealth is about tax planning concepts. It's about how to use your country's tax laws to your benefit. In this book, Tom Wheelwright will tell you how the tax laws work. And how they are designed to reduce your taxes, not to increase your taxes. Once you understand this basic principle, you no longer need to be afraid of the tax laws. They are there to help you and Tax-Free Wealth is about tax planning concepts. It's about how to use your country's tax laws to your benefit. In this book, Tom Wheelwright will tell you how the tax laws work. And how they are designed to reduce your taxes, not to increase your taxes. Once you understand this basic principle, you no longer need to be afraid of the tax laws. They are there to help you and your business--not to hinder you. Once you understand the basic principles of tax reduction, you can begin, immediately, reducing your taxes. Eventually, you may even be able to legally eliminate your income taxes and drastically reduce your other taxes. Once you do that, you can live a life of Tax-Free Wealth.

30 review for Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes

  1. 4 out of 5

    Seth

    The more I read content churned out from the Robert Kiyosaki brand publishing mill, the less impressed with it I become. It's too optimistic, feel-good, seminar/workshop type of inspirational financial literature. It pretends to be practical with details, but it's not.

  2. 5 out of 5

    Natali

    Before this book, I was under the impression that tax laws were black and white and that everyone who did remotely well in life was destined to take it up the ass. Not true! If you want an outside-the-box tax book, this is for you! Wheelwright is passionate about tax laws and using them to your advantage. I learned so much from this book that I hired his firm to be our new accountants. I had not planned on that but after you see how this guy approaches tax law, you'd be crazy not to!

  3. 5 out of 5

    Jennifer Mckenney

    I definitely recommend this book although I also have some criticisms of it. Its an easy read, interesting and informative. As someone who has no background in business or accounting I found some useful information. Im an entrepreneur and I made very little money last year - well under $20k and now that its tax season I found myself getting distressed by how much I may owe. Im not sure how helpful this is for someone like me though. As the author says , if you fall into the categories of I definitely recommend this book although I also have some criticisms of it. It’s an easy read, interesting and informative. As someone who has no background in business or accounting I found some useful information. I’m an entrepreneur and I made very little money last year - well under $20k and now that it’s tax season I found myself getting distressed by how much I may owe. I’m not sure how helpful this is for someone like me though. As the author says , if you fall into the categories of employed or self employed the tax code is not written to benefit you. It is written to benefit big business and investors. Well I also consider myself a real estate investor just starting out. I did sort of a live-in flip in a neighborhood that is up and coming and if all continues moving in the direction it is now, I could make a decent profit in a few years. There were definitely some creative ideas in here that I will implement in the future. I am an “outside-the-box thinker so I definitely found this book interesting. I originally heard about this book on Natali Morris’ blog. I really like her approach to personal finance and found her advice original and Inspiring. However, let’s be realistic and look at the obvious. This type of advice is meant to benefit a certain class of people - those who come from privileged backgrounds. I was put off some when reading the book because the authors conservative political mindset comes through pretty clearly when he talks condescendingly about “entitlement programs,” and it is clear he comes from an entitled background- he mentions how he was given a job in his father’s firm while still in high school. (Of course, to be fair, accounting is a field that it must be pretty easy to get a job in as there is a high demand for accountants). This type of book does not look at the challenges some people face when trying to build wealth such as having no family support, no generational wealth, no social capital, or having health issues. If you are working a low income job and barely making ends meet you aren’t going to be able to become an investor. I have a background in anthropology and I tend to be critical of some aspects of capitalism (though I’m not anti-capitalist), and am critical of many aspects of society, and see things that need the change. But I can’t change the fact that this is in fact, a capitalist society and to survive one is required to participate in it. Someone else created the rules to the game, and we are all forced to play it. So it’s best to learn how to succeed at it the best you can.

  4. 4 out of 5

    France

    The book has a lot of details that would be more applicable when you have a corporation. Less on personal income tax and more on corporation. I would recommend to people that has interest in growing your business to corporation.

  5. 5 out of 5

    February Four

    Eye-opening, but not for people who want detail; there's a lot of "get a tax advisor" and "talk to your tax advisor" and "discuss this with your tax advisor". Still, just knowing things are there is a big start; you can research the IRC or use RIA/CCH and read up on things yourself if you're the do-it-yourself type or you want to _be_ said tax advisor.

  6. 5 out of 5

    Cyrus Douglas Vincent

    The book has more in common with a motivational "You Can Be Rich Too"-type narrative than an actionable list of definite tax reduction strategies that is within reach of anyone. I can't quite place who the audience for it is supposed to be. Most of the advice seems to be targeted at already wealthy people who have significant business expenses like meals and travel or who can report significant depreciation and other deductions from business expenses. That's great for higher-income tax filers who The book has more in common with a motivational "You Can Be Rich Too"-type narrative than an actionable list of definite tax reduction strategies that is within reach of anyone. I can't quite place who the audience for it is supposed to be. Most of the advice seems to be targeted at already wealthy people who have significant business expenses like meals and travel or who can report significant depreciation and other deductions from business expenses. That's great for higher-income tax filers who itemize, but the average Standard Deduction filer will get significantly less from it. So, is this book for higher-income readers who'd like to control their taxes? Well maybe, but that's hard to picture as well. The language is pitched as a primer on basic tax avoidance. If your already at the income level that is described, you really need a tax professional or to reach for a more academic book with less individual empowerment filling the margins. So the vibe from the book is something like "How to Get Rich by already being Rich and also lowering your Taxes". Okay.

  7. 5 out of 5

    Brian

    Before reading this book, my perception of the US tax code was that it was bloated, burdensome, unnecessarily complex, and understood by only a select few. Though all these things may be true, one of the most striking observations Wheelwright makes in this book (at least for me) was that despite the "vastness" of the US tax code, a fairly small percentage of it (maybe 10%) identifies the things that we have to pay in taxes. The remaining portion explains how we can avoid paying it! For investors, Before reading this book, my perception of the US tax code was that it was bloated, burdensome, unnecessarily complex, and understood by only a select few. Though all these things may be true, one of the most striking observations Wheelwright makes in this book (at least for me) was that despite the "vastness" of the US tax code, a fairly small percentage of it (maybe 10%) identifies the things that we have to pay in taxes. The remaining portion explains how we can avoid paying it! For investors, specifically real estate investors, there is a wealth of very specific information, strategies, approaches, and practical steps to mitigate taxes, establishing LLCs, 1031 Exchanges, segregated depreciation, and so forth. Highly recommended, though look for a newer/revised edition that includes changes for 2018.

  8. 4 out of 5

    Daniel

    this book is based on the idea that taxes are a form of incentives that the government has in place. For instance you pay lower taxes by doing things the government wants you to do such as oil drilling for energy, agriculture etc. Just this idea alone will change your paradigm. Tom gives massive amounts of value in this book by outlining tax reduction strategies in a easy to understand way. He has many good nuggets of wisdom such as successful investing involves compound interest + leverage + this book is based on the idea that taxes are a form of incentives that the government has in place. For instance you pay lower taxes by doing things the government wants you to do such as oil drilling for energy, agriculture etc. Just this idea alone will change your paradigm. Tom gives massive amounts of value in this book by outlining tax reduction strategies in a easy to understand way. He has many good nuggets of wisdom such as successful investing involves compound interest + leverage + velocity + tax reduction.

  9. 5 out of 5

    Lee Richardson

    Interesting book on how to build more wealth by finding ways to lower your taxes. To me, the most interesting takeaway was that the tax law is designed to incentive people to invest in business, real estate, and whatever creates jobs and grows the economy. This means the tax law is designed to benefit business owners and investors. My opinion is that taxes are way too high, and way too complicated. I understand we need to pay **some** taxes, to fund research & development, health care for Interesting book on how to build more wealth by finding ways to lower your taxes. To me, the most interesting takeaway was that the tax law is designed to incentive people to invest in business, real estate, and whatever creates jobs and grows the economy. This means the tax law is designed to benefit business owners and investors. My opinion is that taxes are way too high, and way too complicated. I understand we need to pay **some** taxes, to fund research & development, health care for people that can't afford it, social security, police, military, infrastructure, etc. But can we really not afford these things while taking less of everyone's money? Is it really this expensive? I don't think so. I'd support a much simpler tax code, something like: - 0% for less than 50K - 10% for 50K-150K - 15% 150K-500K - 20% for 500K+ That said, this simply isn't how the world works. If you want to pay less in taxes, and have more money to spend on things that are important to you, you need to understand the tax code, or pay some one who understands it. This book outlines many ways to save money on taxes, from deductions, to starting your own LLC for side projects, depreciation, keeping good documentation, employing your children (lol!), investing in commodities, and more. I feel way more informed about the tax code after reading it, and appreciated the author's clear writing. My main criticism of the book is that it felt like a sales pitch for the Author's company. At the end of the book, it seemed like he wanted me to use his firm, because his team 'get's it'. That's fine, but it took away a little of the books purity for me. If it feels like someone's trying to sell me something, I'm less likely to believe they're trying to help me. But to be fair, I don't actually know the author's intentions, and this could simply be a mis-read on my part.

  10. 5 out of 5

    Jewel

    Page Turner! Never expected that I would ever call a tax book a page turner, but its true. Tom keeps everything relevant and understandable for the lay person. And-bonus!-not dry at all. Though I cant claim I understood every single thing (Im not a business owner yet, but I will come back to those parts later for sure), I did understand the parts most relevant to me. Super helpful. Listened to it in audio but then went and bought the paperback so I could go through and highlight while I studied. Page Turner! Never expected that I would ever call a tax book a page turner, but it’s true. Tom keeps everything relevant and understandable for the lay person. And-bonus!-not dry at all. Though I can’t claim I understood every single thing (I’m not a business owner yet, but I will come back to those parts later for sure), I did understand the parts most relevant to me. Super helpful. Listened to it in audio but then went and bought the paperback so I could go through and highlight while I studied. Thanks Tom!

  11. 5 out of 5

    William Nelson

    Great book for those interested in tax strategy - he goes over a lot of good topics. Loved the dive into cost segregation. I actually ended up buying this book for my account for Christmas! However, due to all the info in the book, it dragged on and had a lot of topics that I wasnt interested in. Regales it covered topics for every person out there: employee, business owners, investors, etc. Would recommend, but wont change your life. Great book for those interested in tax strategy - he goes over a lot of good topics. Loved the dive into cost segregation. I actually ended up buying this book for my account for Christmas! However, due to all the info in the book, it dragged on and had a lot of topics that I wasn’t interested in. Regales it covered topics for every person out there: employee, business owners, investors, etc. Would recommend, but won’t change your life.

  12. 5 out of 5

    Rafael Medina

    A great overall book about taxes and how to leverage them in your favor. I would definitely recommend this as a primer to understand how entrepreneurs can maximize tax savings by structuring your decisions in a way that the government favors and rewards. If you own a business or are a passive investor this is a must-read.

  13. 4 out of 5

    Jay

    Some good tips and a helpful overview for beginners, but also some risky ideas, especially for beginners....like to not contribute for 401K and to use leverage...a novice could blow up using this book.

  14. 5 out of 5

    Matt

    It amazes me when people don't pick up books like Rich Dad Poor Dad or this book, Tax Free Wealth. The average American pays 40 - 50% of their income to taxes!! That is literally HALF of your income! Read this book! Highly recommended!!

  15. 5 out of 5

    Steve

    Mostly for professional business owners/investors, but solid wisdom if you are looking to head that direction eventually. The bottom line is that if you want true tax benefits, you NEED to start your own business or be a full time investor. (right side of the cashflow quadrant)

  16. 4 out of 5

    Isaac Anamor

    This review has been hidden because it contains spoilers. To view it, click here. Excellent

  17. 5 out of 5

    Sara

    3.5 stars. Lots didn't apply to me but I like his concepts.

  18. 5 out of 5

    Hu

    a bit dated but filled with lots of practical tools and advice for those ready to take a more unconventional approach.

  19. 4 out of 5

    Curtis

    Great insights. Entertaining presentation of the material.

  20. 5 out of 5

    Alex

    Must buy

  21. 5 out of 5

    Fredy Lauro Buri Arias

    Practicable It shows you how you can save a lot of money in your taxes. Doing the things that you like but Thinking always and your business. It was blazing. Thanks.

  22. 5 out of 5

    Sheng Peng

    What I felt after reading this book must be very similar to how some voters feel now about their votes for the current POTUS.

  23. 4 out of 5

    Bustadave32

    Excellent, understandable overview for a novice.

  24. 5 out of 5

    Zandria

    Get Educated and then get free. Does what it says on the tin. Honestly, I wasnt sure if the book would; however it did. And that is good enough.

  25. 4 out of 5

    Dmitri Pavlov

    I did found a lot of new ideas, thank you. And money velocity concept is really amazing after compounding and leverage. Great read highly recommending if you are into taxes and business creation.

  26. 5 out of 5

    Andrew Ysasi

    Exceptional

  27. 4 out of 5

    David

    Best ways to build wealth: start a business; rental real estate. Good guide to how to defer taxes with rental real estate. Become a real estate professional.

  28. 4 out of 5

    Brian

    Useful questions to ask your CPA (or to expect your CPA to ask you)

  29. 5 out of 5

    Derek

    A eye opening macro philosophical look on tax law that never really crossed my mind before. Includes several ideas for saving and building wealth that mostly involve business and investment. Not much in here for a cart-pusher at Walmart, which is good because the book sticks to big ideas. The author does push the products of his business and that of the "Rich Dad Advisors" though it is often subtle and easy to ignore to focus on the good info this book has. Also, utilizing the authors business A eye opening macro philosophical look on tax law that never really crossed my mind before. Includes several ideas for saving and building wealth that mostly involve business and investment. Not much in here for a cart-pusher at Walmart, which is good because the book sticks to big ideas. The author does push the products of his business and that of the "Rich Dad Advisors" though it is often subtle and easy to ignore to focus on the good info this book has. Also, utilizing the authors business if you do have accumulated business or investments would not be such a bad idea, seeing how bad a lot of tax companies can be in doing your taxes. Overall the author is a intelligent guy that thinks of things from a different perspective, a worthy read.

  30. 5 out of 5

    Bovard

    While repetitive to the point of absurdity, some really interesting and good info for business owners or investors on tax strategy.

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