Showing posts with label wealth creation. Show all posts
Showing posts with label wealth creation. Show all posts

The Other 8 Hours: Maximize Your Free Time to Create New Wealth & Purpose Review

The Other 8 Hours: Maximize Your Free Time to Create New Wealth and Purpose
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I'm pretty shocked at the generally high reviews of this book. While I found there to be some vaguely useful tips, in general it's pretty long winded and short on usable info. In particular the folksy story that started each chapter were useless. The frequent references to church and the bible are fairly annoying and borderline preachy. How is it that he manages to incorporate faith in almost every chapter of a book on how to maximize your time??
In short I would say that if it hasn't occurred to you that watching less television would be a good way to increase productivity in the other 8 hours of your day, then you could probably benefit from reading this book. If you're already somewhat analytical about how you're spending your time, then this book might be a waste of your time.
I'm giving it a star for some useful websites that could be helpful in starting a business, but even then his treatment of how business are started isn't particularly thorough. He frequently mentions angel investors vs. VC investors without describing the important differences between the two. Is the author assuming his audience who doesn't know video games are a time suck already aware of the differences in these two important funding sources for getting their business off the ground?? Throughout the book the author recommends putting together an e-book to test the waters for your business idea, and in the end this book reads like a bunch of 20 page e-books compiled in to a collection of tips, not a comprehensive study on time management.
DO NOT PAY FOR THIS BOOK. Get it from your local library. The small amount of useful information is not worth the space it will occupy on your bookshelf.

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Lower Your Taxes - Big Time : Wealth-Building, Tax Reduction Secrets from an IRS Insider Review

Lower Your Taxes - Big Time : Wealth-Building, Tax Reduction Secrets from an IRS Insider
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I would have given it 4 and 1/2 stars but that wasn't an option. The only reason that I didn't give it 5 stars was that the book deals with small and home bases business issues and for real estate owners and investors. I am retired and thus, could only benefit from the real estate discussion.However, I did have a business before retirement.
I got this book after reading a great review in the Orlando Sentinal.This book would have saved me a bundle had I known about this information many years ago. It is cleverly written and has a lot of good information that I myself never heard from my accountant. I especially liked all the examples and tips that I found really useful in understanding the tax planning sections I also liked the elaborations, which provided some nice insights into why Congress passed various laws or on what to do about certain laws,with a great deal of clarity and specificity.
One very unsual feature that I found in this book that I never read in any other book was all the information that was provided on how to "audit proof" each and every tax planning strategy. I have used the J.K. Lasser guide in preparing my taxes, and I have never seen as much specific information on how to IRS bullet proof each deduction as Mr. Botkin provides.
Many financial books I read are rather shallow and lack a lot of the details necessary to implement what they are suggesting. Also, there seems to be a trend in financial and real estate books to serve as a giant advertisement for consulting services or for other books. This was NOT the problem in this book,which was frankly very refreshing.
Even as a retired person, I did, however, find the real estate section to be very useful. It will save me a bundle on some real estate mistakes that I didn't know about all these years.
Some reviewer noted that this book doesn't show you how to plan for the various tax laws. He must not have read the same book that I read because this book has a lot of specificity on what to do with each applicable law.
In short: I have given a copy of this book to my son and daughter. That should tell you what I think of the book.

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Strategies from an IRS insider for slashing taxes, maximizing legal deductions, avoiding audits, and more

Completely updated for all of the new 2005 and 2006 Tax Laws!

Through his years as an IRS tax attorney, Sandy Botkin discovered that most Americans could legally­­ and dramatically­­ cut their tax bills by establishing themselves as independent contractors or businesspersons. In Lower Your Taxes--­­Big Time!, fully updated for 2005 and 2006, Botkin explains how, outlining a straightforward program for writing off everything from family vacations to movies and plays, and receiving a subsidy of $5,000 or more from the IRS each and every year.

From tips for launching a business to strategies for audit-proofing a return, Lower Your Taxes­­--Big Time! is a gold mine of information for every frustrated taxpayer. Tax-cutting strategies include:

How, why, and when to incorporate
Fail-safe methods for deducting a home office and family car
Simple but essential record-keeping tips
Tax advantages of being a consultant,independent contractor, or independent businessperson


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