counter create hit Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes - Download Free eBook
Hot Best Seller

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

Availability: Ready to download

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.


Compare

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. 5 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. 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

    Jennifer Mckenney

    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 emp 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.

  3. 4 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! 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!

  4. 4 out of 5

    Jay Pruitt

    High-level overview of tax considerations and ways to use the special tax treatment of certain asset classes such as real estate to your advantage. Part of the Rich Dad Poor Dad series; premise that wealth is created not by being an employee, but rather by being a business owner and/or investor (where lucrative tax benefits are found). I thought the discussion about tax-deferred accts (IRA, 401k) was interesting: the author believes for a number of reasons that the old adage of putting away as m High-level overview of tax considerations and ways to use the special tax treatment of certain asset classes such as real estate to your advantage. Part of the Rich Dad Poor Dad series; premise that wealth is created not by being an employee, but rather by being a business owner and/or investor (where lucrative tax benefits are found). I thought the discussion about tax-deferred accts (IRA, 401k) was interesting: the author believes for a number of reasons that the old adage of putting away as much as you can in these retirement plans is actually bad advice. Instead, he encourages investment in real estate (for example) where the tax advantages are permanent and not just deferred. IMO, the notion that depreciation deductions are "permanent" is misleading: if you ever sell the property (assume you don't make a like-kind exchange) you'll have to recapture these deductions. But I digress. In addition to real estate and business ownership, the book discusses the tax benefits of stock trading, oil/gas, precious metals. There is also much mentioned with respect to what qualities to look for in a tax advisor. This latter topic I found extremely helpful, and having been with several tax advisors I can heartily agree with points raised.

  5. 4 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.

  6. 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.

  7. 4 out of 5

    Thulasi Ram

    Decent book with interesting tips and ideas. It took me years to gather these ideas and the author does a good job keeping all these in one place. The author repeatedly emphasizes a lot on why is it important to be part of the right side of CASHFLOW quadrant. He touched and explained points such as depreciation, estate planning with good examples, etc. The author does a poor job of explaining when to use each tax sheltering idea. He also fails to address what are the short-comings of each of the Decent book with interesting tips and ideas. It took me years to gather these ideas and the author does a good job keeping all these in one place. The author repeatedly emphasizes a lot on why is it important to be part of the right side of CASHFLOW quadrant. He touched and explained points such as depreciation, estate planning with good examples, etc. The author does a poor job of explaining when to use each tax sheltering idea. He also fails to address what are the short-comings of each of the mechanisms. I recommend reading this at least once just so that someone understands what tax sheltering mechanisms are available.

  8. 4 out of 5

    Allie Fowler

    Dense with tips and strategy. I dinged it two stars for repeating non-sequiturs and outright falsehoods regarding tax policy and its unwillingness to acknowledge that US tax policy's PURPOSE is to make the already-wealthy even wealthier at the expense of other US citizens while providing little to society in return. Without these falsehoods, it would be a 5-star book. Dense with tips and strategy. I dinged it two stars for repeating non-sequiturs and outright falsehoods regarding tax policy and its unwillingness to acknowledge that US tax policy's PURPOSE is to make the already-wealthy even wealthier at the expense of other US citizens while providing little to society in return. Without these falsehoods, it would be a 5-star book.

  9. 5 out of 5

    Chris Earley

    Super inciteful book for me. It went deep into very usable and tactical tips for legally protecting money and reallocating it for best use. Highly recommend this one to anyone who wants to save money on their taxes

  10. 4 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 people 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.

  11. 4 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. 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.

  12. 4 out of 5

    Mark Manderson

    Great intro for understanding tax advantages. My top takeaways: The average person pays 30-50% of everything they make to taxes. You can make your llc whatever you want so your goal becomes to make your tax burden as low as possible.  Include tax planning in your wealth strategy.  Invest where you travel. By investing in real estate, all you have to do is work 4.5 hours a day and every part of your trip from airfare to hotel is written off.  Elect how your LLC will be taxed.  Deduct your meals. (3 test Great intro for understanding tax advantages. My top takeaways: The average person pays 30-50% of everything they make to taxes. You can make your llc whatever you want so your goal becomes to make your tax burden as low as possible.  Include tax planning in your wealth strategy.  Invest where you travel. By investing in real estate, all you have to do is work 4.5 hours a day and every part of your trip from airfare to hotel is written off.  Elect how your LLC will be taxed.  Deduct your meals. (3 tests. First is the purpose must be for business. It must be ordinary. And finally must be necessary.) This means it must be to increase profit.  Put your family to work in your business and investing.  DOCUMENT! ACTIVITIES AND EXPENSES.  Cost segregations of business and rental properties.  PIGS are your PALS: You can only offset the same type of income with losses.  Make your parents your business partners and reap the tax benefits.  Savings for your child's education with tax benefits. (Don't use 529, have your kids work for the llc).  Reduce the wages you take from your business.  Eat while you work to save taxes. Eat with employees and clients to discuss business.  Change your personal expenses to a business deduction.  AS LONG AS THE PURPOSE OF THE EXPENSE IS TO PRODUCE MORE INCOME IT CAN BE DEDUCTIBLE.  UPDATE YOUR DOCUMENTATION (INCOME AND EXPENSES) WEEKLY TO ENSURE YOU PASS AN AUDIT.  All tax planning must have business purpose. If you have multiple businesses you can create a service company but make sure to documents well.  3 Steps to Successful Estate Planning: Place assets in a trust.  Create a will.  Avoid estate tax.  ROTH IRA WEALTH BUILDING STRATEGIES: TAX LIENS. HARD MONEY LOANS. STOCKS AND CRYPTOCURRENCY. GOLD BULLION. DEDUCT STARTUP COSTS THE FIRST YEAR OF BUSINESS! TRADE IN YOUR SELF DIRECTED IRA TO SHELTER GAINS! THE AUDIT: RECEIPTS: WRITE WHO WITH, WHAT DISCUSSED, BUSINESS NATURE OF RELATIONSHIP. KEEP CORPORATE BOOKS (LIST ALL MEETING TOOL PLACE.) RECORD INCOME/EXPENSES. LIST DEDUCTIONS AS CONTINUING EDUCATION AND SALES/MARKETING EXPENSE. LOOK FOR GROWTH ASSETS AND PASSIVE INCOME OPPORTUNITIES!

  13. 5 out of 5

    Mark Austin

    This book is a good primer on how to preserve wealth in general, not just taxes. It's written simply and clearly with plenty of white space, charts, and graphs to help out. Biggest pluses: it covers a lot of continual, lifestyle changes that will save taxes based on your behavior not based on accounting tricks at tax-time. It talks about what activities are favored by the government tax-wise so you can work on shifting your time to them and general tips on investments to maximize your tax-reducti This book is a good primer on how to preserve wealth in general, not just taxes. It's written simply and clearly with plenty of white space, charts, and graphs to help out. Biggest pluses: it covers a lot of continual, lifestyle changes that will save taxes based on your behavior not based on accounting tricks at tax-time. It talks about what activities are favored by the government tax-wise so you can work on shifting your time to them and general tips on investments to maximize your tax-reduction and wealth freedom. Biggest minus: many of the items never tell you the how-to, just say "get a great tax advisor" and "by the way, our company are great tax advisors". I get that many of the items are probably complicated and somewhat localized, but I found myself frustrated multiple times as I read yet again to get a tax advisor. If you're looking for short-term tax advice, not super helpful. If looking at long-term tax-reduced lifestyles, however, much more useful.

  14. 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.

  15. 5 out of 5

    Pedro Bento

    What an experience! The world of business and finance viewed from the eyes of an accountant. The knowledge and basis that everyone should learn when you start to think on working on your own tax savings and benefits. On a more general note, I do not understand some reviews on Amazon regarding this book. Some people reviewed this book as not having the "solution". That is correct, but that is obviously not the objective. You have to work on your own "solution" and use the basis, the concepts, the What an experience! The world of business and finance viewed from the eyes of an accountant. The knowledge and basis that everyone should learn when you start to think on working on your own tax savings and benefits. On a more general note, I do not understand some reviews on Amazon regarding this book. Some people reviewed this book as not having the "solution". That is correct, but that is obviously not the objective. You have to work on your own "solution" and use the basis, the concepts, the possible strategies that Tom shares. After reading this book I believe that I am more prepared than ever to tackle my taxes. That is what this book has done for me.

  16. 5 out of 5

    Jonathan Winskie

    The government wants you to use tax deductions and credits and it is your patriotic duty to use them through investing or starting a business, but also the government is stealing from you by taxing you? The first premise I can somewhat get behind, the second is contradictory in my mind. That said, there are some practical, if general, ideas for how to build a tax strategy and wealth strategy, and it was a useful read for someone like myself with an interest in starting out in real estate investi The government wants you to use tax deductions and credits and it is your patriotic duty to use them through investing or starting a business, but also the government is stealing from you by taxing you? The first premise I can somewhat get behind, the second is contradictory in my mind. That said, there are some practical, if general, ideas for how to build a tax strategy and wealth strategy, and it was a useful read for someone like myself with an interest in starting out in real estate investing. Ultimately, the entire book kept pointing back to one central premise - find yourself a good tax advisor because they’ll be best positioned to help you in your individual situation.

  17. 5 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 + ve 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.

  18. 5 out of 5

    Jewel

    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 studi 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!

  19. 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 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.

  20. 4 out of 5

    Lori

    I thought this book was good and practical. I really would like to reduce our taxes somehow, so hearing different strategies was very interesting to me. 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. Good info

  21. 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.

  22. 5 out of 5

    Later Williams

    Game changer I chose to give this book a five star rating due to its invaluable content. I enjoyed the information and the way that it was presented. The book is not a difficult read but it breaks down concepts that can be difficult to understand. I recommend this book to anyone who is looking to build wealth and minimize or eliminate tax expenses.

  23. 4 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!! 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!!

  24. 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)

  25. 5 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.

  26. 4 out of 5

    Brad Doran

    The best primer on how to use the tax law as a series of incentives so that you're not losing money to taxes. I loved this book so much that I went to work for the author! I think I have it memorized. The best primer on how to use the tax law as a series of incentives so that you're not losing money to taxes. I loved this book so much that I went to work for the author! I think I have it memorized.

  27. 5 out of 5

    Jen

    If you’re a business owner or thinking about starting a business, I would recommend reading this for foundational information. However, everyday individuals may not benefit as much from this book. The portions relevant to non-business owners was sparse and often not very detailed.

  28. 4 out of 5

    Cory Fisher

    Good overall information at a high level. Did not enjoy all the constant advertising for Robert Kiyosaki and all his stuff. Too evangelical. Also a lot of repetition, and not the good kind. This could have probably been 1/4th of the length.

  29. 5 out of 5

    Rafael Santiago

    This is my first official tax book. I found it very good and eye opening at times. I know It will help me ve on the lookout on certain codes. I do wish it talked more about how exactly to do certain things.

  30. 4 out of 5

    Ted Zhang

    Outlines fantastic strategies and tips to permanently reducing taxes for like. I highly recommend everyone who has desires to become wealthy to read this book. I have learned a tremendous amounts of knowledge from Tom Wheelwright and hope to implement it into my life as soon as possible.

Add a review

Your email address will not be published. Required fields are marked *

Loading...
We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy.