I just bought and read (only 90 pages) a book that almost everyone should read. At least those who want to reduce their income taxes.
I bought it on Amazon within minutes of one of my mentors telling me he had read it. Although he did find the same 3 minor fallacies that I did, none of those take anything away from the main thrust of the book.
The book is called “The Power of Zero” by David McKnight, with the foreword written by one of my favorite CPA’s, Ed Slott. You can watch Ed on PBS educational TV specials all of the time.
You can check out David’s book here on Amazon.com: http://amzn.to/T1TmKg
Here’s a quote from the foreword, “If you have to wonder if you have a plan to reduce taxes now and in the future, then you do not have plan. If you don’t have a plan, you will end up with what I call “The Government Plan”. As you can imagine, that is not the plan that is best for you”. It’s the best “plan” for the I.R.S.
Much of what the author writes could be (but isn’t) right out of one of my own 3 books including my book on Social Security Income Planning.
Did you know that from 1936-1981 that the highest tax bracket was NEVER lower than a 70% tax rate?
If you think that income taxes will be going up (and tax brackets are getting lowered), then you should take an hour and read this book!
all the best… Mark
Mark J. Orr, CFP
Certified Financial Planner