Taxing Unrealized Gains And Other Criminally Insane Proposals - E865 - CFC

Cash Flow Connections - Real Estate Podcast

The elections have everyone's attention these days, and for a good reason…

Both sides are proposing some big tax changes that could really shake things up for us investors.

Now, not 100% of what's being proposed is going to be implemented…

But we need to be prepared in terms of what happens on either side of things.

That's why I'm so excited to have Tom Wheelwright back on the show.

He’s a tax and wealth expert who understands this complicated stuff inside and out…

And today, he’s shared his perspective on…

…what's currently being proposed, how it’s going to impact the real estate investors, and how to be prepared for it.

Tom Wheelwright is the founder and CEO of WealthAbility, the first CPA-based franchise with a proprietary strategic tax planning process for entrepreneurs.

He is also the author of “Tax-Free Wealth” and a Rich Dad Advisor to Robert Kiyosaki.

He explains how one of the most problematic pieces of Biden's proposals is the idea of…

“taxing unrealized gains”

Which means, you’ll be taxed on the paper gains of your non-liquid assets like real estate investment or business valuation…

And other assets like retirement accounts or home value…before liquidation.

I KNOW…

It doesn’t make sense.

In fact, it’s actually destructive for the economy as this could potentially lead owners to liquidate part of their holdings to pay these taxes…disincentivizing long-term investment.

But that’s just one piece.

There are many other insane parts of the proposals that will impact your returns, like…

- Eliminating 1031 exchanges or severely limiting their use

- Doubling the capital gains tax rates

- Taxing all business income of small businesses instead of just taxing profits

Now…

We obviously can’t control what happens.

But if you’d like to be prepared for the worst scenario, Tom shares some really good insights to save and grow your wealth.

You don’t wanna miss out on it.

Take Control,

Hunter Thompson

Resources mentioned in the episode:

1. Tom Wheelwright

Link to previous episode with Tom

Website

Book

Podcast

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