Heroic Investing
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HI 232: Innovative Tax Savings with Rich Dad Advisor & Author of Tax Free Wealth Tom Wheelwright

Episode: 232

Guest: Tom Wheelwright

iTunes: Stream Episode

Jason Hartman talks with Tom Wheelwright, Rich Dad Advisor, about how to help yourself in your legal tax avoidance using practices such as real estate professional, whether Opportunity Zones might be worth investing in, and why taxes tend to be higher when you retire.

Key Takeaways:

– The question you need to ask yourself if you can’t qualify to be a real estate professional

– One of the most underutilized assets people have is other people’s tax brackets

– Tom’s views on Opportunity Zones

– The pass through tax deduction and how it applies to real estate investors

– Being a real estate professional can sometimes mean you can take early withdrawls from an IRA and actually completely negate the penalties

– You tend to lose a lot of deductions when you retire, so your planning leading in to retirement is crucial

– The 2 challenges with Roth IRAs when it comes to investing