Loopholes of the Rich

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.

Foreword vii Mark Victor Hansen Introduction: The Rules Have Changed ix Part I The Five STEPS to Financial Freedom 1 Chapter 1 Starting Point—Understanding Your Financial Story 3 Chapter 2 Team—Building a Team That Supports You 22 Chapter 3 Evaluation—Constructing a Tax Loopholes Strategy 39 Chapter 4 Path—Creating an Action Plan 54 Chapter 5 Starting Point—What Worked, What Didn’t Work 61 Part II Jump Start! Your Wealth 69 Chapter 6 Jump Start! Principles for Tax-Advantaged Wealth Building 71 Chapter 7 Creating Income with Less Tax 81 Chapter 8 Using Business Structures to Create Legal Tax Loopholes 96 Chapter 9 Discover Your Hidden Tax Loopholes 132 Chapter 10 Control When and How Much You Pay in Taxes 146 Chapter 11 Smart Real Estate Investing 167 Chapter 12 Real Estate Loopholes to Take Money out of Your Property 178 Chapter 13 Buying a Home the Right Way 186 Chapter 14 Home Loopholes So Your Home Pays You 195 Part III New Tax Strategies for C Corporations 203 Chapter 15 Avoid C Corporation Pitfalls 205 Chapter 16 New C Corporation Tax Loopholes Strategies 214 Part IV Take Your Loopholes and Still Sleep at Night 221 Chapter 17 Eliminate IRS Red Flags 223 Chapter 18 How to Have a Painless IRS Audit 227 Appendix A Tax Loopholes Strategy Success Stories 237 Appendix B 300+ Business Deductions 248 Appendix C IRS Principal Business and Professional Activity Codes 261 Appendix D Sample Forms 281 Index 307 Meet Diane Kennedy 311