Farming Assets

In today's episode Bob goes out on a limb to debunk traditional tax planning advice. If you are a business owner you need to watch this and reflect on the value of these two things 

1) A personal mortgage balance 

2) The need for you to contribute to your personal 401k retirement plan.

He goes through the numbers to show that the IRS always wins if you follow like sheep. Sheep get slaughtered...

To learn more, visit:

https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:

https://missionmatters.com/author/robert-wolf/

In today's episode Bob continues his dive into understanding the planning process of a business owner and how to reduce your tax liability. He dives into how personal expenses are affected by inflation and taxes and how over time your wealth can dwindle.  

Inflation and taxes are great wealth destroyers.

To learn more, visit:

https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:

https://missionmatters.com/author/robert-wolf/

In today's episode Bob goes through what he calls the Cash Flow Recovery process. This process shows a business owner how they may be overpaying in taxes and by how much.

He does a very good job of educating on the progressive tax system and how by understanding your personal lifestyle expenses, how you may be able to reduce your tax liability by shifting income onto other assets.

To learn more, visit:

https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:

https://missionmatters.com/author/robert-wolf/

In today's episode Bob is laying out the 2023 plan for content and what will be covered in 2023.

As he said he is kicking down the door to the vault and giving you everything.

He will be diving deep into conventional wisdom and explaining unconventional wisdom to give you the opportunity as a business owner to decide which makes more sense for you.

To learn more, visit:

https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:

https://missionmatters.com/author/robert-wolf/

In today's episode Bob walks through the various players to the game we all have to play by.  He gives a great overview of how the players work together and how we as the "taxpayers" or "consumers" are left kind of holding the bag...unless we too know how to play the game.  Once you know the rules to the game you can then strategize and organize.

To learn more, visit:

https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:

https://missionmatters.com/author/robert-wolf/

In today's episode we discuss the question if debt is good or bad.

Are you talking about personal debt or business debt?

You will find that with most things we discuss, it all depends on your purpose and goal of the debt.

Bob breaks down an example to help understand.

To learn more, visit:
https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:
https://missionmatters.com/author/robert-wolf/

In today's episode, Bob goes through some of the basic types of common debts, such as credit cards, student loans, and home mortgages.

He explains how the difference between personal debt and business debt allows you to grow your wealth or shrink your wealth.

For example, why does any business owner have a personal mortgage? This is a tax liability to a business owner. Instead, they should have access to equity through a home equity line of credit.

To learn more, visit:
https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:
https://missionmatters.com/author/robert-wolf/

In today's episode, Bob takes a journey through a website called usdebtclock.org.

He walks through the numbers for debt and revenue of the United States. He highlights the deficits and growing debt problem but also clarifies what this means for future taxes.

You and I, as business owners, are one of the main ways the government generates tax revenue, so based on these numbers, it doesn't look good for non-business owners.

To learn more, visit:
https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:
https://missionmatters.com/author/robert-wolf/

On today's episode, Bob continues his journey through the Economic Termite DEBT...

He goes through an article he feels does a great job of defining the national debt and what deficits are.

I know it sounds terribly exciting, doesn't it?

It actually is very interesting. It may not be "exciting," but it is certainly interesting.

See for yourself.

To learn more, visit:
https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:
https://missionmatters.com/author/robert-wolf/

It's that time of year again! Tax time! I know, just reading those words is stressful, especially considering the way the economy is right now. The solution to these worries? PLANNING.

In today's episode, Bob goes in-depth about the process of planning, the importance of nurturing your assets, and how Farming Assets can help with saving money on taxes.

Do you know how much you're paying in taxes? Do you know what your fair share is? Do you know what your plan is? What will you do with the money you save from taxes?

It's important you know how to answer these questions. Imagine these are questions on a test, a test that passing or failing determines whether you maximize your tax savings or not.

You're going to want to study for this one, and Bob's your tutor.


To learn more, visit:
https://terrafirmaconsultantsllc.com/

Listen to more episodes on Mission Matters:
https://missionmatters.com/author/robert-wolf/