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cover of the book Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax

Ebook: Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax

Author: Diane Kennedy

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27.01.2024
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This is a good reference/resource, but you don't need to read the whole thing.
In fact, if you've done some of Rich Dad's advanced study programs, skip this book completely. It will be redundant.
But if you're fairly new to Rich Dad, or are just looking for useful tax "loopholes", there are some very helpful sections of this book. Unfortunately most of the book is a rant about the tax system.
So if you're on the fence about buying it, or don't have time to read the whole thing, you can use the "Look Inside" feature to get the most important information.
The best sections are actually the Appendices - particularly Appendix B (starts at page 304). It's 5-10 pages of several hundred tax deductions that almost everybody overlooks completely. These deductions are mostly for small business owners &/or investors, but everybody should review it.
The other appendices are useful as well. Also, pg 335-336 (suggested record retention list) is good. And the short section on avoiding an audit is also very good.
Enjoy!

Loopholes 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.
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