Everything You Need To Know About Taxes

How the Rich Get Richer Through Taxes

Last updated 2022-01-10 | 4.5

- Save money during tax season
- Reduce the amount of taxable income on their tax return
- Build wealth faster by saving money on taxes

What you'll learn

Save money during tax season

Reduce the amount of taxable income on their tax return

Build wealth faster by saving money on taxes

Complete their taxes with little stress

Avoid an audit by the IRS

* Requirements

* Pencil and paper to take notes

Description

Recent Testimonials:

"If you don't know a lot about taxes and how they work, this is a great introductory course which summarizes a variety of tax topics from tax history in the US to credits and deductions. The teacher makes the course approachable and encourages you the entire way. Everyone can leave the course with some knowledge that will help them increase their wealth over time." - Jeffrey Thompson

"Eye opening" - Terence Tan

"This course lays a great foundation for a solid understanding of how to create legal tax shelters and avoid audits." - Vi

The American Tax Code is the longest and most complicated tax code of any country in the world. It currently stands at a mind boggling 20,000 pages and is growing every year. It's no wonder hardly anyone really understands how taxes work!

In this course you will learn EVERYTHING YOU NEED TO KNOW ABOUT TAXES including:

1. How to save money on your taxes

2. How to build wealth in a tax efficient way

3. How to retire without paying any taxes on your income

4. How to avoid an audit by the IRS

5. How to set up your finances to pay nothing in taxes at all!

After years of studying and teaching business, one thing is clear: most people pay too much in taxes.

If you implement what you learn in this course, you will not be one of those people!

Who this course is for:

Anyone who wants to pay less in taxes

Course content

6 sections • 15 lectures

Introduction Everything You Need to Know About Taxes 1 lectures

Introduction: Why the Rich Get Richer Preview 07:46

Learn how the wealthy use the tax laws to their advantage and how the rest of us can do the same thing with just a little education.

The History of Taxes & Marginal Rates 2 lectures

A Brief History of Taxes in America Preview 12:54

Learn the background of taxes in the United States. This information helps you to understand why the tax code is written the way that it is, which is advantageous when applying tax saving strategies like the ones we cover in this course.

Understanding Marginal Tax Rates Preview 06:36

Understanding marginal tax rates is crucial when seeking to save money on your tax bill and plan for upcoming tax years.

Deductions & Credits 2 lectures

How to Maximize Tax Deductions Preview 11:48

One of the most powerful strategies of the wealthy is knowing how to maximize their tax deductions in order to reduce their tax bill by huge amounts. In this lesson you will learn some of the most common and easiest ways to accomplish the same feat.

How to Maximize Tax Credits Preview 11:37

Like deductions, tax credits help the wealthy save large amounts of money on their tax bill. In this lesson we look at the major difference between deductions and credits and learn why credits can be even more powerful than deductions in reducing your tax bill.

Retirement Accounts & FATCA 2 lectures

Building Wealth Through Tax Efficient Retirement Accounts Preview 13:22

Understanding how to maximize the tax benefits of retirement accounts could make the difference between poverty and wealth. In this lesson you will learn the major differences and tax rules of the most common and most useful tax efficient retirement accounts.

Taxes on Foreign Earned Income and Assets Preview 10:02

The tax rules governing foreign income are complex and confusing. In this lesson you will learn not only how to reduce your tax bill on foreign income, but how foreign income can make you very wealthy.

Strategies of the Wealthy 3 lectures

Using CPAs & Tax Preparation Software Preview 06:16

Deciding whether or not to use a CPA, tax prep software, or other help can be confusing. In this lesson we look at which tools are the most appropriate for you given your tax situation so you don't dread tax season every year but may actually look forward to it!

Tax Tips & Tricks of the Wealthy Preview 07:49

The wealthy use multiple strategies and tactics to pay less in taxes and therefore continue to build their wealth. In this lesson you will learn some of the most powerful tools of the wealthy and why they work so well.

How to Avoid an Audit by the IRS Preview 08:05

In addition to saving money on our taxes, we also want to avoid an audit by the IRS. In this lesson you will learn some of the biggest red flags that the IRS looks for when deciding whether or not to audit a particular account.

Conclusion: Bringing it All together 5 lectures

Creating a Wealth Building Tax Strategy Preview 04:22

In this lesson we will bring together all of the strategies, tips, tricks, and other tax knowledge that you learned in the course so that you have a holistic understanding of the most important aspects of how the wealthy save money on their taxes.