Preview Mode Links will not work in preview mode

Feb 20, 2023

Did you know the tax code offers multiple incentives that anyone, not just the wealthy, can use to reduce their tax burden? In episode fifteen of Wealth Series 2.0, Ben Kinney, Bob Stewart, and Chad Hyams talk with tax consultant, CPA, and Rich Dad Advisor® Tom Wheelwright about his newest book,  “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make,” and how certain activities earn sizeable tax deductions. 

Disclaimer: You should not use our advice to make financial decisions. We highly recommend you seek professional advice from someone authorized to provide investment and retirement advice.

In this episode, we cover the following:

  • Educating yourself about the tax codes [1:30]  
  • Partnering with the government [5:56]
  • What does it really mean to pay less tax? [8:32] 
  • Tax deductions with traditional retirement accounts [10:49]
  • Benefits of using non-qualifying retirement plans [14:30]
  • Tax deductions using stocks [18:30]
  • Donating stocks and donor-advised funds [18:40]
  • Why the government wants you to invest in real estate [22:15]
  • Buying investment properties [23:10]
  • Standard and bonus depreciation [26:38]
  • Benefits of a 1031 exchange [36:02]
  • Homeownership and tax-free investing [37:45]
  • Tax strategies for business ownership [39:30]
  • Tax benefits of hiring your children [40:30]
  • Deducting business expenses [41:48]
  • Section 1202 tax gain for small business stock [44:45]
  • Home office deductions [46:10]
  • Tax incentives for energy [47:33]
  • Reducing your taxes by using the tax laws [52:56]
  • One sign of a good tax advisor [55:55]

Resources discussed in this episode:

Connect with the hosts:

More ways to connect: 


Part of the Win Make Give Podcast Network