Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax

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Loopholes of the Rich: How the Rich Legally Make More Money and Pay Less Tax
by Diane Kennedy
from Wiley

Customer Reviews:

• Avg. Customer Rating: 4.0 / 5.0

• BAD Advice re: homes in LLCs
  This book had a lot of good information but I have to strongly disagree with the idea of putting a persons home into a Limited Liability Company. It sounds great but the IRS has made it clear that they will not find a busines purpose for puting a home in an LLC. Also there are court decisions around the countyr that have found that putting ones home in an LLC does not protect the home from legitamate creditors. LLC are fantastic entities for asset protection, income tax planning, and estate and gift tax... more info

• Great Start, For Beginners!
  
  This book is wonderful, especially for folks without a lot of business background. It was very helpful for me when I began to interview accountants.
  This book does an excellent job of educating the average person & Small Bussiness Owner on how to structure a business and to legally take advantage of the Internal Revenue Code. It gives great examples, and gives step-by-step guidelines that I actually understood and used.
  There are a few typos, but overall a very informative book.
  

• Straightforward information on common tax risks and opportunities
  This clearly written book offers a handy guide to tax strategy for the rich and for those who hope to be rich. Author Diane Kennedy, a certified public accountant, provides basic information on common tax risks and opportunities. Without using burdensome jargon, she explains the fundamentals of financial reports and record keeping. Her approach is commonsense and straightforward she doesn't make outrageous promises or exotic, inapplicable recommendations. The title is slightly misleading. This book is not... more info

• Information Packed Book! Lots of Great Tips
  I thought this book was excellent! I learned quite a lot from reading it and hope to really apply what I have learned to my finances. It was jam packed with helpful tips and ideas on how to take full advantage of tax loopholes. I would recommend this to any small business owner!!

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