Tax Hell Coming: Defend Yourself Against 80,000+ New IRS Agents | Tom Wheelwright, CPA

For most people, tax season is behind us now -- phew!

But that doesn't mean we can push taxes to the back burner until next year. Far from it!

In fact, today's guest, Tom Wheelwright, CPA, Entrepreneur, Best Selling Author, Rich Dad Advisor® & International Authority on Tax, is here to remind us that RIGHT NOW is the time when your accountant can help you the most in terms of minimizing the taxes you'll need to pay in this current 2023 tax year.

There are a number of potential steps you can take between now and the end of the year that can substantially reduce your tax footprint in the eyes of the IRS (or whatever the tax authority is in your country of residence), as well as reduce your odds of getting audited.

But if you wait until the end of the year to start thinking about your 2023, as most people will do, it will be too late.

So what steps should we consider taking? We ask Tom in this video.

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There’s no doubt that it's a very challenging time right now for the average investor. Above and beyond the recent economic impacts of COVID, the new era of record low interest rates, runaway US debt and US deficits, and trillions of dollars in monetary and fiscal stimulus stimulus has changed the rules of investing by dangerously distorting the Dow index, the S&P 500, and nearly all other asset prices. Can prices keep rising, or is there a painful reckoning ahead?

Let us help you prepare your portfolio just in case the future brings one or more of the following: inflation, deflation, a bull market, a bear market, a market correction, a stock market crash, a real estate bubble, a real estate crash, an economic boom, a recession, a depression, or another global financial crisis.

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#taxplanning #taxes2023 #taxesexplained

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IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss.