Let me tell you why the Code is a fascinating document. WAIT!!!! hold on! Come back, I promise, you will benefit financially from this post. The nerd factor has been trimmed to a minimum level. 🙂
In the beginning of my career, I realized that most people thought of the Code as a tool for the government to raise capital. My experience with and review of the Code actually taught me otherwise.
It’s not an enforcement tool, but rather an incentive tool. And recently, I found it’s even more than that.
It’s a roadmap, an instruction guide to building and securing financial freedom.
Our clients at ClarionBridge Consulting regularly find that when this idea is assimilated, a series of new opportunities for deductions are uncovered.
In fact, stepping back from my experience as a US individual and Business Tax Consultant, I have been looking at the Code to see how to provide permanent financial freedom to my clients. My discoveries were nothing short of amazing.
For example, let’s look at the Code treatment of debt.
There’s Bad Debt and its interests. The interest on this debt normally is not deductible. And when it is (such as with your house), the deduction is restricted.
Good Debt on the other hand, is debt that put money into your pocket. It is generally deductible, with no restrictions. And, if you are an real estate investor, your deduction opportunity is exponentially increased. Let’s say you buy a property with debt (such as a mortgage). Not only you benefit of the interest deduction on the debt, but also the deduction from depreciation.
At ClarionBridge Consulting Group, we see the US Tax law as a treasure map. We help you decipher that map and consequently control your tax situation. Your financial freedom is much closer than you think.
Warmest regards,
Chaz.
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