Achieve Tax Free Wealth with Tom Wheelwright

  Many accountants approach taxes as something to fear. You hear them saying that taking advantage of certain tax benefits will trigger an audit. Tom and his team of accountants take the opposite approach. They view the tax code as a series of incentives and that it's their responsibility to help you benefit from these incentives and reduce your taxes. In this episode, we cover a number of important topics: How you're "dead in the water" if you're just a W2 wage earner. To be able to take advantage of tax incentives, you need to be a real estate professional or own a business The importance of tracking hours for real estate professional status The secret to approaching audits the right way! We had an interesting discussion about the evolution of real estate professionals and what multi-million dollar real estate investors are doing differently than the average investor and what makes them successful Semi-Retired M.D. and its owners’, presenters’, and employees are not in the business of providing personal, financial, tax, legal or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this podcast. Semi-Retired M.D., this podcast, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed, and certified professionals should be sought. In addition, Semi-Retired M.D. does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.