Description
Book SynopsisLoopholes 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.
Table of ContentsForeword vii
Mark Victor Hansen
Introduction: The Rules Have Changed ix
Part I The Five STEPS to Financial Freedom 1
Chapter 1 Starting Point—Understanding Your Financial Story 3
Chapter 2 Team—Building a Team That Supports You 22
Chapter 3 Evaluation—Constructing a Tax Loopholes Strategy 39
Chapter 4 Path—Creating an Action Plan 54
Chapter 5 Starting Point—What Worked, What Didn’t Work 61
Part II Jump Start! Your Wealth 69
Chapter 6 Jump Start! Principles for Tax-Advantaged Wealth Building 71
Chapter 7 Creating Income with Less Tax 81
Chapter 8 Using Business Structures to Create Legal Tax Loopholes 96
Chapter 9 Discover Your Hidden Tax Loopholes 132
Chapter 10 Control When and How Much You Pay in Taxes 146
Chapter 11 Smart Real Estate Investing 167
Chapter 12 Real Estate Loopholes to Take Money out of Your Property 178
Chapter 13 Buying a Home the Right Way 186
Chapter 14 Home Loopholes So Your Home Pays You 195
Part III New Tax Strategies for C Corporations 203
Chapter 15 Avoid C Corporation Pitfalls 205
Chapter 16 New C Corporation Tax Loopholes Strategies 214
Part IV Take Your Loopholes and Still Sleep at Night 221
Chapter 17 Eliminate IRS Red Flags 223
Chapter 18 How to Have a Painless IRS Audit 227
Appendix A Tax Loopholes Strategy Success Stories 237
Appendix B 300+ Business Deductions 248
Appendix C IRS Principal Business and Professional Activity Codes 261
Appendix D Sample Forms 281
Index 307
Meet Diane Kennedy 311
