Tom Wheelwright® launched his first business venture at the age of nine. It was fall, and the marigolds that were a mainstay in many of his neighbors’ yards had finished blooming, and their petals had dried. Wheelwright and another enterprising friend went door to door and asked permission to collect the seeds from these dying plants. Then, they waited. Come spring, they packaged the seeds and sold them back to their neighbors who were ready for a new season of gardening. The entrepreneurial bug had bit and left an indelible mark.
Today, Wheelwright has traded horticulture for financial education. He is a CPA, the CEO of WealthAbility®, a Rich Dad Advisor, an international speaker and the best-selling author of Tax-Free Wealth and The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make. His focus is on helping entrepreneurs and investors build wealth faster while simultaneously reducing their taxes.
“Taxes can be fun,” Wheelwright says. “No, really, they can. The key is to not get overwhelmed by the technical aspects; that’s what your CPA is for. Instead, focus on understanding the basic framework the government has laid out in the tax law.”
The framework of every country’s tax law is to encourage citizens to invest in things that help the government reach its goals and to raise money to cover what’s left. Read correctly, Wheelwright explains, the tax code is a roadmap for reducing taxes by partnering with the government to accomplish social and economic objectives. Entrepreneurs and investors who follow this roadmap unlock the power of tax-free wealth and bring their financial dreams to life.
When he started the research process for his most recent book, The Win-Win Wealth Strategy, Wheelwright studied the tax laws for fifteen countries. He discovered seven investment categories universally supported by government incentives:
- Business
- Technology, research and development
- Real estate
- Energy
- Agriculture
- Insurance
- Retirement savings
The book is a deep dive into each category. Wheelwright explains why governments need people to invest in these areas, how those investments help society and what kinds of incentives come along with making them. It debunks the misconception that the rich are a drain on society and offers a new way of thinking about building wealth.
Economist Dr. Arthur B. Laffer described The Win-Win Wealth Strategy as “a home run.” “This book challenges the still-too-common misperception that government tax incentives benefit the wealthy at the expense of the greater society,” he said. “It is a timely, well-researched and thoughtful guide for anyone serious about creating wealth and opportunity. These seven investments represent supply-side economics doing what it does best: boosting economic growth.”
For Wheelwright, it all comes back to giving people seeds. Instead of bright flowers, he’s now sharing seeds of knowledge. “Financial education is powerful,” he says. “Everyone must follow the same tax law, which means the incentives we discuss are available to everyone. You just need to understand how to use them.”
Find out more at: https://tomwheelwright.com/