11th November 2009
Copyright (c) 2009 Tom Wheelwright
Last week I shared a few items from the year-end checklist my team and I use with clients who own rental real estate.
Year-End Checklist for Business Owners and Investors
As I promised last week, this week I'm s...
09th November 2009
Copyright (c) 2009 Tom Wheelwright
Real estate is one of my absolute favorite areas in the tax law. Why? Because there is so much flexibility in how to do things in order to legally maximize the tax benefits available.
Did You Know You Can Receive...
05th November 2009
Copyright (c) 2009 Tom Wheelwright
As I mentioned last week, real estate is one of my absolute favorite areas in the tax law because there is so much flexibility in how to do things to legally maximize the tax benefits available.
Real estate is also...
14th October 2009
Copyright (c) 2009 Tom Wheelwright
I don't need estate planning because my estate is not taxable.
As I've shared over the last few weeks, estate tax planning is only one part of estate planning. And while it's true that an estate with less than $3,...
14th October 2009
Copyright (c) 2009 Tom Wheelwright
Education is a primary focus for me. I attend seminars all year round, both as a speaker and a participant. Why? I believe there is a direct relationship between knowledge and risk.
As knowledge increases, risk ...
01st October 2009
Copyright (c) 2009 Tom Wheelwright
I do not need to do estate planning right now because my estate is not taxable.
Remember, while it's true an estate may not be in urgent need of estate tax planning, there is still a need for basic estate planning....
21st September 2009
Partnerships are extremely flexible entities which makes them incredibly powerful in a tax strategy. Flexibility in a tax strategy is key because things change! I've studied partnerships for over 30 years and there are hundreds of ways to use them to pr...
18th September 2009
If you have ever heard me speak on tax or wealth strategies, you've probably heard me say that I am not a big fan of 401(k)s or IRAs.
One of the reasons I am not a big fan of Traditional IRAs and 401(k)s is because they only defer tax. While tax defer...
30th August 2009
One of the key parts of a successful wealth strategy is using leverage. Leverage can take on many different forms - leveraging your time, leveraging your contacts or leveraging your knowledge.
The form of leverage most people are familiar with is a lo...
16th August 2009
If you don't know how much you are saving or when you will be able to retire, it's time to look at the benefits of setting financial goals. It's important to look at what your future plans are, how much you can contribute to them, and how you plan to mana...
13th August 2009
Owning your own business is one of the great American dreams. Those of us who own a business know that it comes with headaches and problems, but we cherish the good we can do as well as the people we meet and the freedom that our business can provide, bo...
02nd August 2009
Many business owners and investors get reports that they don't understand - and it's not their fault! Most reports are either too technical or are missing information to give the reader the information they want.
It's always amazing to me the number o...
31st July 2009
Recent IRS statistics say that S corporations represent the most popular form of small business corporation. That's understandable. S corporations provide some powerful tax savings benefits for small business owners and investors.
Unfortunately, the S ...
31st July 2009
It's time to start thinking about getting those taxes done. Maybe you're in a panic. Not to worry. Just follow Tom's 15 steps to getting your taxes done, and you'll be much happier. Ready? Here they are:
-Get serious
Unless you're focused, you're goin...
30th July 2009
I've heard from many of you asking for more information on the AMT because some of you are in it and others fear they will be in it soon. This is not a surprise to me because I have found 2 things to be true in recent years about the AMT:
First, more ...
