Chapters:

0:00 Intro
0:24 Tom Wight's journey from family business to tax law expert
1:21 Creating a CPA franchise and writing successful tax books
1:58 Relationship with Robert Kiyosaki and expanding thinking on taxes
2:47 Tax law as a series of incentives for business owners and investors
3:29 How the tax code is designed to help people build wealth
4:06 Strategies for using tax savings to build wealth effectively
4:30 Why entrepreneurs and investors receive special tax advantages
5:18 Common barriers preventing people from utilizing tax benefits
6:09 Fear of the IRS and misconceptions about being a tax cheat
7:18 Holistic approach to protecting assets and family wealth
8:57 Simple strategies for asset protection and family planning
11:25 How to reach Tom Wight for more information on tax planning


This podcast episode of "America Dreams" features an insightful interview with Tom Wheelwright, a distinguished CPA, author, and tax expert. Alan Olsen, the host, delves into Wheelwright's exceptional journey from working in a family business to becoming a leading figure in tax advisory and authorship. Wheelwright shares his background, including his education and pivotal experiences at Ernst and Young, and his academic tenure at Arizona State University. He discusses his role in developing one of the first tax advisory CPA franchises in the country, highlighting his global influence through his books and seminars, particularly his association with Robert Kiyosaki of "Rich Dad Poor Dad" fame.

Wheelwright's discussion with Olsen explores the profound impact of his collaboration with Kiyosaki on his understanding of tax and wealth building. He elucidates on the concept of the tax code as a roadmap for wealth accumulation, emphasizing that the tax law's incentives are designed to benefit entrepreneurs and investors who contribute to societal needs like jobs, innovation, and essential services. Wheelwright passionately argues that fear and misunderstanding of the tax law prevent many from leveraging these incentives to build wealth.

He advocates for a holistic approach to wealth building that encompasses earning, managing, and planning the transfer of wealth, stressing the importance of a knowledgeable team to navigate these aspects successfully. Wheelwright offers practical advice and anecdotes to illustrate how informed tax strategies can significantly benefit personal wealth and asset protection.

For listeners seeking to understand the synergy between tax strategy and wealth creation, this episode provides valuable perspectives and actionable insights, directly from a seasoned expert in the field. Wheelwright's invitation for a second opinion on tax returns through his organization, WealthAbility, underscores his commitment to empowering individuals to optimize their financial strategies.