Rating: 
Summary: Straight talks
Review: Other tax advice books are boring as hell, and get so frustrating that giving up and leaving everything to my accountant became reality. Kennedy writes clearly, gives great examples, and gives step-by-step guidelines that I actually understood and used.
Rating:
Summary: Solid, Simplified Advice!
Review: Review Summary: The hardest thing for you to find is simple advice about which financial structure to use for self-employment and small business activities and how to balance cutting taxes, having flexibility, and avoiding asset exposure. This book is the best simple version of how to do all of this I have seen. You will obviously need experts to help you do your planning to match your needs, but this book will prepare you to work knowledgeably with those experts. Over a career as a small business owner, this book may be the most valuable one you will ever read.Review: I am a big fan of Rich Dad, Poor Dad and wrote a review of that book that caused me to get a lot of e-mails asking tax-related questions. I am delighted to see this book because it means that those who wonder how developing passive income can cut taxes can start to understand why that occurs. "Loopholes . . . are government incentives." For many years, Congress has provided tax incentives to encourage certain kinds of business development and investing. As a small business owner, you have the opportunity to benefit from some of those incentives, legally and morally. This book will be most valuable for those who know little about the structure of the income-tax code and regulations, how property is protected against legal suits, and ways of creating financial flexibility. The tools you can use differ from year to year, as the rules change. This book is good for explaining the general concept of how these rules usually work. It also tells you what kinds of advice and expertise you need from others. Most people don't know where to start, and this book gives you a step-by-step process to assess where you are today, get the resources you need to help, evaluate a potential strategy, create a plan to implement a strategy, and monitor how well your strategy is working and whether you need to make any changes or not. There is a tendency for popular books about business and investing to overpromise what can be accomplished. I thought that Ms. Kennedy avoided that problem. Based on my understanding of these issues, she describes things accurately and appropriately. When she gets into more problematical areas like VEBA, her cautions are well-stated and complete. I have heard many people try to explain these concepts simply, and her explanation is the briefest, accurate one it has been my pleasure to read. Knowing more detail will not help you all that much. The main drawback of the book is that it doesn't go into enough detail about the advantages of real estate investing. Rich Dad, Poor Dad makes quite a point about how taxes paid can be low on such businesses. Basically, the answer is that you get to charge off part of your investment as an expense (depreciation) and that there are special incentives for specific classes of real estate that reduce tax bills even more. So I expect that I will still get e-mails about why Mr. Kiyosaki is so positive on real estate businesses. After you finish reading and applying this book, I suggest that you think about how your family life should be structured for optimum happiness. If you think about that subject as much as you do the structure of your finances, you will truly be wealthy in all the ways that count. Live life with rich spirituality!
Rating:
Summary: for marcisikoff [part 1]
Review: sigh, the ignorance.
so, 98% of the people who tried MLM failed, a fact.
but what does the fact tell you? nothing.
the number does not tell you MLM is bad, you "assume" MLM is bad.
you need to look at the numbers from different angles.
there are hundreds of different MLM structure out there.
some are profiting, some are scams.
different companies utilize different structures, and sell different products.
maybe the company is bad, or maybe the products are bad, or maybe those people simply gave up too soon.
MLM is considered a business, and anyone who has formed or tried to form a (regular) business knows it often takes years to see real profit, if the business survived at all, not to mention the overhead every month.
i know a MLM company that allows you to balance your investment and efforts with "six" customers.
think upon that.
Rating:
Summary: for marcisikoff [part 1]
Review: sigh, the ignorance.
so, 98% of the people who tried MLM failed, a fact.
but what does the fact tell you? nothing.
the number does not tell you MLM is bad, you "assume" MLM is bad.
you need to look at the numbers from different angles.
there are hundreds of different MLM structure out there.
some are profiting, some are scams.
different companies utilize different structures, and sell different products.
maybe the company is bad, or maybe the products are bad, or maybe those people simply gave up too soon.
MLM is considered a business, and anyone who has formed or tried to form a (regular) business knows it often takes years to see real profit, if the business survived at all, not to mention the overhead every month.
i know a MLM company that allows you to balance your investment and efforts with "six" customers.
think upon that.
Rating:
Summary: loopholes of the rich:
Review: The book contains information for a novice or an expert. Starting from the very basic, practical concepts about accumulating wealth, it eventually deals with most complex tax issues like VEBA, Split dollar life etc. It provides lot of information which can only be gained from experience. It covers some key issues which even most professionals are unware of. Besides laying out a sketchwork for accumulating wealth it provides guidance on how to keep the most of it and in the best protected form. I would recommend it to amateurs and professionals of all ages who are or are planning to be wealthy.
Rating: 
Summary: Read it and weep
Review: This book makes a lot of assumptions. It assumes that the reader is EXTREMELY well versed in corporate tax advantages. It assumes that the reader already owns a corporation. It assumes that the book will be read with a dictionary of financial terms close at hand. (It should be. The book is poorly written, with key terms lacking adequate defenition.) I support the Rich Dad series. It is a great way for a beginner to get their feet wet. This book assumes that the reader can already swim! Even the seasoned incorporator would probably not be pleased with this book. Tell you what, if you are considering buying this book, save yourself some money and just send me ten bucks. I'll then call you (on my own dime) and summarize the book for you. Oh, what the heck, I'll do it now, for free...surround yourself with a competent team of advisors.
Rating:
Summary: Read it and weep
Review: This book makes a lot of assumptions. It assumes that the reader is EXTREMELY well versed in corporate tax advantages. It assumes that the reader already owns a corporation. It assumes that the book will be read with a dictionary of financial terms close at hand. (It should be. The book is poorly written, with key terms lacking adequate defenition.) I support the Rich Dad series. It is a great way for a beginner to get their feet wet. This book assumes that the reader can already swim! Even the seasoned incorporator would probably not be pleased with this book. Tell you what, if you are considering buying this book, save yourself some money and just send me ten bucks. I'll then call you (on my own dime) and summarize the book for you. Oh, what the heck, I'll do it now, for free...surround yourself with a competent team of advisors.
Rating:
Summary: A HELPFUL TOOL FOR BUSINESS OWNERS!
Review: This book particularly caught my eye since I teach a course in taxation as part of my business management training program. Since taxations rules and regulations vary from province to province, as well as from country to country, I was not sure if this book would be of benefit to anyone from my country. However, after reading it, I did find it contained some pertinent information that can be used by any business owner. While it is always recommended that businesses use the expertise of a qualified accountant, particularly when completing tax returns, anything an individual can learn about taxation is a plus. Professional accountants may cost more, but they could also end up saving you a bundle of money in the end - they know ALL the legal loopholes. Do not let that discourage you from buying "Loop-Holes of the Rich"; it is an interesting book to read no matter where you live.
Rating:
Summary: Really for small business owners
Review: This book should really be called "Loopholes of the Small Business Owners." It provides practically NO tax help to any one who is a salaried employee or who intends to earn income in a self-employed context with small operating expenses (e.g. freelance writing). The two main examples are about small businesses like multi-level marketing. You really need to have a business operation planned or running to use the information in this book. So if you just earn a paycheck, even a large one, forget about this one, it's not going to show you how to cut your taxes. Also, the book is very repetitive, full of "Summary" filler and a silly conversational style.
Rating:
Summary: Less than honorable people will try to sue you IF you have $
Review: This book starts off with a assumption: you don't have any knowledge {giving a story of two couples} and ending with them acheiving their goals PLUS the knowledged involving business PLUS how to protect your business { which hopefully = your livelyhood} from being taken away... SUED. Very good book. Also has an assumption of you having a business already whether starting or fully time and showing you the advantages of incorpating that business; as well as why not to incorporate and use S corp, LLC etc... very good as usual. It was nice to read someone else with "rich dad thinking" Dianne incidently is very modest in her abilities and knowledge of taxes, estate planning plus she constantly emphasis the importance of developing a team of pro's. Before you buy this book hopefully you've read the rich dad series {poor dad, quadrant,] investing book ok but get your business started safely...
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