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National News / Feature

Tax Secrets of the Rich That Everyone Should Know

Former IRS Attorney reveals how to increase return on real estate by 10% to 15% -- even in slumping markets

Tax planning. Many of us think it’s only for the super wealthy. The truth is most Americans could save thousands of dollars every year if we followed the tax strategies millionaires use to protect their wealth. Their secret: using real estate to slash their taxes— and with property values taking a hit in many markets, taking advantage of tax benefits could be the only gain people get for several years. Best of all, you don’t have to be rich to reap the benefits.

“Nothing is more lucrative than tax planning,” says former IRS attorney and best-selling author Sandy Botkin, CPA, Esq. “If you look at the top 200 richest Americans, many made their fortunes in real estate. They know one of the secrets to getting rich is to pay the minimum tax required by law—and that takes keen knowledge and understanding of the tax code. So it’s time to level the playing field and share those secrets.”

In his new book, REAL ESTATE TAX SECRETS of the RICH, Botkin reveals how to use your home and investment properties as legal tax shelters. He begins with the basics, explaining why you should own a home instead of renting. “Most Americans don’t realize home ownership is the key to building wealth and dramatically cutting taxes,” says Botkin. “If you think you can’t afford a house, increase withholding and have fewer taxes taken out of your paycheck. The deductions you’ll make as a homeowner offset the taxes and you’ll have more cash each payday to afford the house payment.”

REAL ESTATE TAX SECRETS of the RICH is broken down into short chapters, each dedicated to outlining a tax-reducing strategy. For instance, what’s the difference between a home improvement and a home repair; and which one qualifies as a tax deduction? Botkin uses clear cut examples to eliminate confusion. “For a tax deduction on your primary residence, you want to make improvements—not repairs,” says Botkin. “An improvement is when you replace or renovate instead of fixing a problem; like installing a new roof instead of just patching the shingles. However, the rules are different for investment property deductions and it pays off in a big way to know them.”

The book features easy to understand charts and examples and is formatted so that readers can easily share the information with their accountants. Each tax reduction tip includes the IRS regulations and income tax code to explain why the tip works and how it’s 100% legal. “Readers can take this book to their accountant and discuss tips that will work best for them,” says Botkin. “During my years at the IRS I realized most people and even many accountants don’t know about these strategies. My first book, Lower Your Taxes--BIG TIME! explains how starting a home-based business results in huge tax savings. The huge response to that book showed me that people are thirsty for sound tax reduction strategies. Sharing real estate tax tips of the rich was a natural next step.”

REAL ESTATE TAX SECRETS of the RICH can show you:

  • Why home ownership is vital to cutting your taxes
  • How to pocket thousands of extra dollars when buying and selling your primary home, second home or investment property
  • How to avoid a major tax trap of divorce (don’t get a divorce until you read this!)
  • How buying points on your mortgage can help you
  • How to maximize deductions when building a home
  • How to evaluate rates of return for investment property
  • How to make your record-keeping bullet proof
  • How to take advantage of the new mortgage interest deductions and how to legally deduct interest on any amount of property debt
  • How to properly classify repairs and improvements
  • How to eliminate over two-thirds of all capital gains taxes on your properties

Botkin’s extensive experience and knowledge make REAL ESTATE TAX SECRETS of the RICH a true ‘home’ reference guide for anyone who wants to pocket the money they’ve earned and slash their tax bill. “Why pay more in taxes than required by law?” asks Botkin. “I can show you how to save enough in deductions to pay for your kids’ education or weddings. You earned the money; you should decide how to spend it.”

REAL ESTATE TAX SECRETS of the RICH: Big-Time Tax Advantages of Buying, Selling, and Owning Real Estate
By Sandy Botkin, CPA
226 pp., paperback $24.95 US
McGraw-Hill, 2006
ISBN 9780071472357

Available at


About The Author:

Sandy Botkin, CPA, Esq. is a best-selling author and former trainer of IRS Attorneys. He is currently the Chief Executive Officer and Principal Lecturer of the Tax Reduction Institute based in the Washington, D.C. area. During the past ten years, he has taught more than 50,000 taxpayers how to save a combined total of more than $300 million on their taxes. He consistently earns rave reviews for his clear and humorous presentations.

His previous book, “Lower Your Taxes: BIG TIME” (McGraw-Hill 2003) is an Amazon best seller. That book showed millions of readers the benefits of starting their own home-based businesses.

Mr. Botkin is also a member of the Florida Institute of Certified Public Accountants. He is a ‘Distinguished Real Estate Instructor” and is listed in “Who’s Who in Business.”

Source: Event Management Services, Inc.


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