Tax-Free Wealth is about tax planning concepts and how to use tax laws to your benefit. Tom explains how the tax laws work and how they are designed to reduce your taxes - not to increase them. The audiobook explains how to use the tax laws to your advantage and in ways that will support business owners' vision and growth plans for their companies.
Once listeners understand the basic principles of tax reduction, they can immediately reduce their taxes to the point where, eventually, they may even be able to legally eliminate income taxes and drastically reduce other taxes.
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3 Big problems
1. Mandatory depreciation is a magic tax tick? right after telling you that you need to focus on eliminating taxes permanently. He never mentions that depreciation is deducted from your cost basis when the property is sold. (Sorry, mandatory depreciation is not a Magic concept, its not bad, but don't act like you discovered some great strategy!)
2. He keeps promoting the book and other rich dad products as well. I hate to pay for other peoples advertising!
3. Written as an international tax guide makes it too general to do anyone any good. If I am looking for tax ideas in Australia I'll get one for Australia - But I don't live in Australia and don't care about their tax laws.
If you own a business this is a MUST
- Grace and Kobie