Tax Secrets Exposed! Legal Hacks to Maximize Your Deductions | TOM WHEELRIGHT [Video]

In this new episode of Unlock Your Potential, I chat with Tom Wheelwright, CPA, entrepreneur, best-selling author, Rich Dad advisor & international authority on taxation.

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We start the episode by delving into Tom’s journey in tax planning for entrepreneurs and uncovering the common ground between entrepreneurs and tax planners.

In the middle of the episode, Tom explains the two rules every entrepreneur needs to know to understand the tax law about deductions.

Near the end of the episode, we reflect on a crucial point for entrepreneurship: see the obstacle as an opportunity instead of a barrier. Hear what Tom has to say about this.

I hope you enjoy this episode and learn some hacks to maximize your deductions and make your business more profitable.

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Timestamps:
00:00:00 Coming Up
00:00:50 Introducing Tom
00:03:00 Entrepreneurial DNA
00:04:30 Tax Planner vs Tax Preparer
00:05:00 Meeting Robert Kiyosaki
00:06:10 Making Tax easy and understandable
00:09:30 Requirements for deducting expenses
00:16:30 Creating value
00:18:15 Raising a flag to the IRS
00:20:45 Documentation of expenses
00:22:15 First two rules you need to understand
00:30:30 Tax advisor for reducing your taxes
00:31:45 The two bodies of taxes
00:33:15 What the government want
00:42:15 Perverse incentives
00:46:30 Shrinkflation
00:48:15 See the obstacle as the opportunity
00:53:50 Being in control vs being an employee
00:55:40 Tax Free Wealth
01:00:15 Two questions any advisor should ask
01:01:15 Where to find Tom Wheelwright

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