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

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

Author : Diane Kennedy

This is a good reference/resource, but you don’t need to read the whole thing.

In fact, if you’ve done some of Rich Dad’s advanced study programs, skip this book completely. It will be redundant.

But if you’re fairly new to Rich Dad, or are just looking for useful tax “loopholes”, there are some very helpful sections of this book. Unfortunately most of the book is a rant about the tax system.

So if you’re on the fence about buying it, or don’t have time to read the whole thing, you can use the “Look Inside” feature to get the most important information.

The best sections are actually the Appendices – particularly Appendix B (starts at page 304). It’s 5-10 pages of several hundred tax deductions that almost everybody overlooks completely. These deductions are mostly for small business owners &/or investors, but everybody should review it.

The other appendices are useful as well. Also, pg 335-336 (suggested record retention list) is good. And the short section on avoiding an audit is also very good.