When it comes to real estate and taxes, many investors just don’t know what they’re doing. That lack of education and understanding could cost them a lot of money. There are multiple reasons someone might have yet to learn about how taxes affect their bottom line, and sometimes, it just comes down to them not being ready. But if you are prepared to learn, knowing some simple tax rules as they apply to businesses could save you a lot of money and go a long way toward helping you continue to build wealth. In this episode of Zen and the Art of Real Estate Investing, entrepreneur, bestselling author, Rich Dad advisor, and international tax authority Tom Wheelwright joins Jonathan to talk about how tax knowledge can put your real estate investing career on a new trajectory. His book, Tax-Free Wealth, is a bestseller, and his new book, Win-Win Wealth Strategy, is a Wall Street Journal and USA Today bestseller. Tom explains one of the secrets to building real wealth and why the U.S. government wants you to pay fewer taxes. In this episode, you will hear: Why people don’t know what they’re doing with taxes and real estate investing You have to be in partnership with your accountant What Tom’s WealthAbility System is, and how CPAs can use it to make their work easier Where new real estate investors get it wrong with their asset setups The impact of depreciation and cost segregation How Tom discovered accounting and why he says taxes don’t have to be difficult His book, Tax-Free Wealth, what inspired him to write it, and what his new book, Win-Win Wealth Strategy, is about The Declaration of Financial Independence and the freedom wealth can give you Tom’s first exposure to real estate investing and when he began investing His partnership with Robert Kiyosaki and how they met Why investing isn’t nearly as complicated as people think and his advice for new investors A big mistake that real estate investors, in general, are making Follow and Review: We’d love for you to follow us if you haven’t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. If you enjoyed this episode, we've created a PDF that has all of the key information for you from the episode. Just go to the episode page at http://www.trustgreene.com/podcast/zen/042 to download it. Supporting Resources: Tom Wheelwright’s website - tomwheelwright.com LinkedIn - www.linkedin.com/in/tomwheelwright Wealthability - www.wealthability.com The Wealthability Show - podcasts.apple.com/us/podcast/the-wealthability-show-with-tom-wheelwright-cpa The Win-Win Wealth Strategy -winwinwealthstrategy.com Tax-Free Wealth - www.amazon.com/Tax-Free-Wealth-Massive-Permanently-Lowering/dp/1947588052 Who Not How - www.amazon.com/Who-Not-How-Accelerating-Teamwork/dp/1401960588 Rich Dad CASHFLOW Board Game - www.amazon.com/CASHFLOW-Board-Exclusive-Strategy-Delivered/dp/B00M085AMI Website - www.streamlined.properties YouTube - https://www.youtube.com/c/JonathanGreeneRE/videos Instagram - www.instagram.com/trustgreene Instagram - www.instagram.com/streamlinedproperties TikTok - www.tiktok.com/@trustgreene Zillow - www.zillow.com/profile/Streamlined%20Prop%20eXp Bigger Pockets - www.biggerpockets.com/users/TrustGreene Facebook - www.facebook.com/streamlinedproperties/ Email - info@streamlined.properties   Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.