The Tax Game: Who Will Pay More?

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Obviously, President Obama is after the tax breaks for oil and gas, but I expect the Republicans in the oil states would fight like dogs protecting their tax breaks, tax breaks that are good for jobs and their economy.

I do not invest in paper assets such as stocks, bonds and mutual funds for three reasons. One, I am not really good at paper assets. Two, there are not enough tax breaks with paper assets. (For example: if I invested in shares of Exxon stock, I would not receive the same tax breaks I receive for oil partnerships.) Three, I like using debt, tax-free money, as leverage in real estate. If I invested in REITs (Real Estate Investment Trusts) I would be a passive investor, not receiving active investor leverage – or tax breaks.

I am not a tax professional. Before making decisions that have (or could have) tax ramifications, please seek the best tax advice possible. A good start is Tom Wheelwright’s article here. I also encourage you to share Tom’s book, Tax-Free Wealth, with your tax advisor. It might be your best tax tip for 2013.

 


 

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About The Author

Robert Kiyosaki

Best known as the author of Rich Dad Poor Dad - the No. 1 personal finance book of all time - Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator and investor who believes the world needs more entrepreneurs. With perspectives on money and investing that often contradict conventional wisdom, Kiyosaki has earned an international reputation for straight talk, irreverence and courage, and has become a passionate and outspoken advocate for financial education. His most recent books include Unfair Advantage: What Schools Will Never Teach You About Money and Midas Touch, the second book he has co-authored with Donald Trump. To learn more visit richdad.com today. For editorial consideration please contact [email protected](dot)com.

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