Manage episode 286991770 series 2631573
With a new Administration in the White House, there is a lot of speculation surrounding Biden’s tax plan and the impact it will have on business owners. In today’s episode, the guests discuss how you can take advantage of tax incentives regardless of who is in office.
The rich pay very little in income taxes because they don't earn their money as employees do. They know that the best way to legally avoid taxes is by generating passive income out of the right side of the CASHFLOW Quadrant—the Business (B) and Investing (I) side.
Tom Wheelwright, Rich Dad Advisor and author of “Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes” says, "Tax laws are a series of incentives for Entrepreneurs and Investors. If you're going to make the big bucks and pay less taxes, you better focus on getting to the B / I side of the CASHFLOW Quadrant."
Garrett Sutton, the author of several books, including “Start Your Own Corporation” says, “It’s important to set up your entity to protect yourself from paying high tax rates and lawsuits.”
Hosts Robert & Kim Kiyosaki and guests Garrett Sutton and Tom Wheelwright discuss the tax advantages for business owners and how to pay less tax legally.
Visit Tom Wheelwright’s website: https://wealthability.com
Visit Garrett Sutton’s website: https://corporatedirect.com
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