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Business / Accounting & Finance

Tax Strategies of the Wealthy

How the rich get richer through taxes

Description

The American Tax Code is the longest and most complicated tax code of any country in the world. It currently stands at a mind boggling 20,000 pages and is growing every year. It's no wonder hardly anyone really understands how taxes work! In this course you will learn EVERYTHING YOU NEED TO KNOW ABOUT TAXES including


  1. How to save money on your taxes 
  2. How to build wealth in a tax efficient way 
  3. How to retire without paying any taxes on your income 
  4. How to avoid an audit by the IRS 
  5. How to set up your finances to pay nothing in taxes at all!


After years of studying and teaching business, one thing is clear: most people pay too much in taxes. If you implement what you learn in this course, you will not be one of those people!  

Full details

Curriculum

  • Introduction to Everything You Need to Know About Taxes
    Introduction: Why the Rich Get Richer
    Learn how the wealthy use the tax laws to their advantage and how the rest of us can do the same thing with just a little education.
    7:47
  • The History of Taxes & Marginal Rates
    A Brief History of Taxes in America
    Learn the background of taxes in the United States. This information helps you to understand why the tax code is written the way that it is, which is advantageous when applying tax saving strategies like the ones we cover in this course.
    12:55
    Understanding Marginal Tax Rates
    Understanding marginal tax rates is crucial when seeking to save money on your tax bill and plan for upcoming tax years.
    6:37
  • Untitled Chapter
    How to Maximize Tax Deductions
    One of the most powerful strategies of the wealthy is knowing how to maximize their tax deductions in order to reduce their tax bill by huge amounts. In this lesson you will learn some of the most common and easiest ways to accomplish the same feat.
    11:49
    How to Maximize Tax Credits
    Like deductions, tax credits help the wealthy save large amounts of money on their tax bill. In this lesson we look at the major difference between deductions and credits and learn why credits can be even more powerful than deductions in reducing your tax bill.
    11:38
  • Retirement Accounts & FATCA
    Building Wealth Through Tax Efficient Retirement Accounts
    Understanding how to maximize the tax benefits of retirement accounts could make the difference between poverty and wealth. In this lesson you will learn the major differences and tax rules of the most common and most useful tax efficient retirement accounts.
    13:23
    Taxes on Foreign Earned Income and Assets
    The tax rules governing foreign income are complex and confusing. In this lesson you will learn not only how to reduce your tax bill on foreign income, but how foreign income can make you very wealthy.
    10:04
  • Strategies of the Wealthy
    Using CPAs & Tax Preparation Software
    Deciding whether or not to use a CPA, tax prep software, or other help can be confusing. In this lesson we look at which tools are the most appropriate for you given your tax situation so you don't dread tax season every year but may actually look forward to it!
    6:17
    Tax Tips & Tricks of the Wealthy
    The wealthy use multiple strategies and tactics to pay less in taxes and therefore continue to build their wealth. In this lesson you will learn some of the most powerful tools of the wealthy and why they work so well.
    7:50
    How to Avoid an Audit by the IRS
    In addition to saving money on our taxes, we also want to avoid an audit by the IRS. In this lesson you will learn some of the biggest red flags that the IRS looks for when deciding whether or not to audit a particular account.
    8:06
  • Conclusion: Bringing it All together
    Creating a Wealth Building Tax Strategy
    In this lesson we will bring together all of the strategies, tips, tricks, and other tax knowledge that you learned in the course so that you have a holistic understanding of the most important aspects of how the wealthy save money on their taxes.
    4:23

Skills

  • Tax Law

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