Busy Tax Consultant - The Best Books Reviews!

Sandy Botkin's "Lower Your Taxes - BIG TIME!" offers extensive guidance for small business owners and the self-employed to legally minimize their tax obligations. Drawing on the author's experience as a former IRS insider, the book reveals numerous strategies for maximizing deductions related to home-based businesses, meals, travel, vehicles, and home offices, while also providing advice on navigating IRS audits and understanding different business entity structures. The text underscores the significant tax advantages available to those with their own businesses compared to traditional employees. It further explores various wealth-building tax secrets, including fringe benefits, income-shifting techniques, and planning for investments and retirement. The book also addresses common tax myths, potential scams, and highlights from the 2017 Tax Cuts and Jobs Act, aiming to empower readers to take control of their tax planning. Ultimately, it serves as a practical manual for reducing tax liabilities and enhancing financial well-being through informed and proactive tax strategies.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

This book, written by the experienced "TaxMama®," serves as a guide to understanding and navigating the complexities of US tax laws to maximize savings through deductions, credits, and other legal means. It aims to provide practical tips often overlooked in standard tax advice, encouraging readers to research and understand their own tax situations rather than blindly trusting advice. The text covers a wide array of topics, including education tax benefits, record-keeping requirements for income and expenses, home-related deductions, medical expense deductions, charitable contributions, retirement tax issues, and common tax pitfalls to avoid. Furthermore, it offers insights into choosing tax professionals and understanding the difference between adjustments and itemized deductions, all while emphasizing the importance of staying informed about the ever-changing tax code.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

This source, "TAX-FREE Millionaire: How TRIPLE ZERO™ Plans Can Transform Your Future Retirement," by Mark J. Orr, introduces a retirement income strategy centered around specially designed, maximum-funded Indexed Universal Life (IUL) insurance policies, referred to as TRIPLE ZERO™ plans. These plans aim to provide tax-free retirement income, avoid stock market risk with a 0% floor and potential market-linked gains, and offer flexibility with no IRS contribution or income limits. The book explains how these policies work, contrasting them with traditional retirement accounts like Roth IRAs and 401(k)s, and presents client examples and strategies like "Catapult" premium financing and the "Private Reserve" for leveraging policy loans for additional investments, all while highlighting the tax advantages and potential for tax-free access to cash value.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

"J.K. Lasser's 1001 Deductions and Tax Breaks 2016" serves as a comprehensive guide for taxpayers seeking to minimize their tax obligations. Authored by Barbara Weltman and published by Wiley, this book provides detailed explanations of numerous deductions and tax breaks available for the 2016 tax year. It covers a wide array of topics, including deductions related to personal and family expenses, homeownership, education costs, retirement savings, charitable giving, and business operations. The guide offers practical advice, examples, and references to relevant IRS forms and publications to assist taxpayers in understanding and claiming these benefits. The text emphasizes the importance of proper record-keeping and understanding the specific conditions required for each deduction or credit. Ultimately, the book aims to empower individuals to legally reduce their tax burden by taking advantage of applicable tax laws and regulations.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

David McKnight's book, "Tax-Free Income for Life," champions a retirement planning strategy focused on mitigating both rising tax rates and longevity risk to ensure a secure financial future. It critiques traditional approaches and introduces a comprehensive method involving the strategic use of Roth conversions, fixed indexed annuities, and life insurance retirement plans (LIRPs). The book emphasizes proactive planning, including time-segmented investing, to achieve tax-free income streams and protect against unexpected long-term care expenses. Ultimately, it advocates for a holistic approach to retirement that harmonizes tax planning with income guarantees to provide lasting financial peace of mind.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

This For Dummies guide, specifically Small Business Taxes For Dummies, aims to simplify the often complex world of small business taxation for entrepreneurs. It covers essential topics such as tax planning, understanding different business structures and their tax implications, navigating deductions and credits, and managing employment taxes. The book also addresses crucial aspects of running a small business that intersect with taxes, including retirement planning, real estate decisions, and dealing with potential IRS audits and notices. Furthermore, it offers advice on record-keeping, utilizing tax preparation software and advisors, and identifying often overlooked tax reduction opportunities to help small business owners effectively manage their tax responsibilities and improve their financial outcomes.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

Tom Wheelwright's "Tax-Free Wealth" aims to educate readers on leveraging the tax code to build substantial wealth by legally and permanently reducing their tax obligations. The book asserts that understanding and utilizing intended tax benefits for entrepreneurs and investors is not only permissible but encouraged by governments to stimulate economic activity. Wheelwright, Robert Kiyosaki's tax advisor, explains various strategies, emphasizing the advantages for business owners and real estate investors, including deductions, depreciation, and utilizing different business entities. He contrasts the tax burdens of employees with those who actively invest and operate businesses, advocating for a shift in income-earning activities to take advantage of available tax incentives. The guide also covers topics like tax credits, managing payroll taxes, and strategies for minimizing property, sales, and estate taxes, all while stressing the importance of proper planning and selecting knowledgeable tax advisors. Ultimately, "Tax-Free Wealth" presents a proactive approach to tax management, viewing it as a fundamental component of wealth creation rather than an unavoidable expense.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

Andrew Henderson's "Nomad Capitalist" advocates for maximizing personal freedom and financial prosperity by strategically living, banking, and investing internationally. The book encourages readers to "go where you're treated best" by exploring opportunities beyond their home country's borders. It covers topics such as establishing location-independent businesses, obtaining second citizenships, and engaging in offshore banking and global investments to reduce taxes and enhance personal sovereignty. Henderson shares personal anecdotes and actionable advice on adopting a "Nomad Capitalist" mindset, overcoming limiting beliefs, and taking concrete steps towards a geographically diversified lifestyle. The text also addresses the complexities of renouncing US citizenship and building international relationships.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

Mark J. Kohler's "The Tax and Legal Playbook" aims to equip small-business owners with crucial strategies for legally minimizing taxes, protecting assets, and navigating business structures. The book explores various entity types like LLCs, S-corps, and C-corps, highlighting their tax implications and liability protections. Kohler provides actionable advice on tax deductions, including travel, home office, and healthcare, while cautioning against aggressive tactics that could trigger audits. He also addresses building corporate credit, maintaining the corporate veil, and implementing basic to advanced asset protection strategies, including trusts and insurance. Furthermore, the guide covers the proper handling of partnerships and investors, as well as retirement planning and estate planning. Ultimately, the playbook encourages entrepreneurs to proactively develop "game plans" for their businesses' financial and legal well-being.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional

This Executor's Guide provides a comprehensive overview of the responsibilities involved in settling a deceased person's estate or trust. It outlines the initial steps following a death, such as arranging funeral services and securing assets. The book details the process of identifying and managing assets, paying debts and taxes, and distributing property to beneficiaries, whether through probate or trust administration. Furthermore, it addresses specific scenarios like handling life insurance, retirement funds, and the care of minor children. The guide also offers advice on understanding wills and navigating potential legal complexities, aiming to equip executors and trustees with the knowledge to fulfill their duties effectively.

Full podcast episode available here:

YouTube: https://www.youtube.com/playlist?list=PLMvxvfJimu-12rOH6fpAQtGtNUZzDVB2B //

Spotify: https://open.spotify.com/show/3Z75bmdxiaHuXCsZNrIEvF //

Apple Podcasts: https://podcasts.apple.com/us/podcast/busy-tax-consultant-the-best-books-reviews/id1809329141 —

Follow us for more insights & updates:

Instagram: https://www.instagram.com/busy_proffesional/ —

TikTok: https://www.tiktok.com/@busyprofessional