Why Year-End Tax Planning?

This is the time of year that we contact all of our clients and suggest that they do some year-end tax planning with us. Many of you wonder why planning at this time of year is so important. Let me give you three quick reasons. Reason #1: AMT. More and more people are...

Rich Dad: Productivity = Happiness

One of my favorite activities is to attend the Rich Dad staff meeting. I really appreciate Robert allowing me to come. He has a way of opening my mind to new ideas that I cannot really describe. He is definitely on the cutting edge of whatever he does and constantly...

Can Anybody be Wealthy?

Yesterday I had the opportunity to volunteer at Deseret Industries in Mesa, Arizona. Deseret Industries, or DI as it is frequently called, is similar to Goodwill Industries and is a depository for used clothing, furniture, appliances and other household goods. All of...

Are There Any Real Estate Opportunities?

I was recently asked the following question: Tom, in your Tax Strategy CD/DVD example of real estate investments, you used sale prices of $200,000. I live in S. Calif. This wealth building example doesn't quite come close to home prices here. In fact, I can't really...

Velocity with Business

In our cd, “What Your Financial Planner Will Never Tell You,” my partner, Ann Mathis, and I discuss the idea of the velocity of money. The example we use is real estate. The natural question that I am frequently asked is whether you can create velocity in...

Number One Tax Question

People frequently ask what is the number one tax question I get? Inevitably, whenever I speak at a seminar or to any group, the requested topic is “How do I structure my business and/or investments?” Not only is this the most common question, but it is...

Monday Morning – Good or Bad?

It's Monday morning and I'm in the elevator on my way up to my office from the parking garage. Another person gets on the elevator at the same time. Trying to be polite and friendly, I ask him how he is doing. His response is, “Ugh, it's Monday.” Is this...

SEP’s, IRA’s, 401(k)’s and RRSP’s

One of the most common questions I get regards “tax-favored” investment vehicles such as Self-employed Retirement Plans (SEP's), IRA's, 401(k)'s, and, in Canada, RRSP's. With the exception of the Roth IRA and Roth 401(k), these vehicles primarily rely on...

Your Wealth Team

I get a lot of questions from seminar participants about building a wealth team. For example, I was recently asked the following: Is there a particular on-line brokerage firm that you recommend? Do you recommend using any particular stock advisory newsletter? These...