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The Personal Finance Podcast

8 Ways to LEGALLY Avoid Paying Taxes Like the Rich (Save 6 figures+ in Taxes!)

Today We Discuss: How to use retirement accounts to your advantage. How to save 6 figures in taxes. How to Pay $0 in taxes when you sell your house Real Estate Tax Tips

78. 8 Ways to LEGALLY Avoid Paying Taxes Like the Rich (Save 6 figures+ in Taxes!)

*** Correction on the HSA Penalty! It is 20% and I stated 10%.

"If the money is used for an ineligible expense (whether medical or non-medical), the expenditure will be taxed and, for individuals who are not disabled or over age 65, subject to a 20% tax penalty. If you are 65 or older at the time of withdrawal, then you are free to withdraw money from your HSA for any purpose"

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Today We Discuss: 

  • How to use retirement accounts to your advantage.
  • How to save 6 figures in taxes.
  • How to Pay $0 in taxes when you sell your house
  • Real Estate Tax Tips

Capital Gains Calculator

List of Deductions

Episodes Mentioned More Episodes You Will Love: 

Check out all the Stuff I Recommend! 

Best Personal Finance Books

The Simple Path to Wealth - J L Collins 

The Millionaire Next Door - Thomas Stanley

I Will Teach You To Be Rich - Ramit Sethi 

Rich Dad Poor Dad - Robert Kiyosaki

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Andrew is positive, engaging, and straightforward. As someone who saw little light at the end of the tunnel, due to poor saving/spending habits, I believed I would be entirely too dependent on Social Security. Andrew shows how it’s possible to secure financial freedom, even if you’ve wasted the opportunities presented in your youth. Listened daily on drives too and from work and got through 93 episodes in theee weeks.

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This podcast has been exactly what I have been looking for. Not only does it solidify some of my current practices but helps me to understand the why and the ins-and-outs to what does work and what doesn’t work! Easy to listen to and Andrew does a great job and putting everything in context that is applicable to everyone.

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Excellent content, practical, straight to the point, easy to follow and easy to apply! Andrew takes the confusion, complexity and fear as a result (often the biggest deterrent for most folks) out of investing and overall money matters in general, and provides valuable advice that anyone can follow and put into practice. Exactly what I’ve been looking for for quite some time and so happy that I came across this podcast. Thank you, Andrew!

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I discovered your podcast a few weeks ago and wanted I am learning SO MUCH! Finance is an area of my life that I’ve always overlooked and this year I am determined to make progress! I am so grateful for this podcast and wish there was something like this 18 years ago! Andrew’s work is life changing and he makes the topic fun!

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