How Smart Investors Legally Reduce Taxes Using Entities and Income Shifts with Tom Wheelwright
About this episode
In this episode, Russ and Joey discuss tax strategies with Tom Wheelwright, focusing on how investors can legally reduce their tax burden through various methods.
Do you want to learn strategies that can save you thousands, protect your wealth, and maximize the return on your investments? In this episode, Russ and Joey sit down with Tom Wheelwright, CPA, author, and expert in tax strategy for investors and business owners, to talk about the different ways smart investors legally reduce their tax burden by leveraging entities, income shifts, and the Internal Revenue Code’s incentives. Tom breaks down the difference between tax strategy and tactics, exploring how business structures can protect income and reduce taxes. He explains why proper entity setup can turn passive and active income into deductions and tax advantages, and why reinvesting in your business may be one of the most powerful tax strategies available. Russ, Joey, and Tom also discuss practical examples, including family ownership structures, real estate strategies, and how to use Section 1202 for business sales to maximize tax-free gains. This episode shares tips on how to structure your business and organize your investments to enjoy tax benefits while keeping tax obligations as low as possible (without breaking any laws!) Top three things you will learn: -Understanding the…
Topics covered
- tax strategy
- wealth protection
- business structure
- income shifts
- investment returns
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