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The WealthAbility Show #155 - Wealth Tax: Moore vs United States w/ Joe Bishop-Henchman

The WealthAbility Show #155 - Wealth Tax: Moore vs United States w/ Joe Bishop-Henchman

11/9/2023 1:22:59 PM   |   Comments: 0   |   Views: 78

Wealth Tax: Moore vs United States


The WealthAbility Show #155: How exactly is ‘income’ defined? The debate over this question is hotter than ever, as “Moore vs United States” seeks to find the answer. In this episode, Joe Bishop-Henchman joins Tom to discuss how the Supreme Court’s decision on this tax case could have sweeping changes for investors and business owners like you.

Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
  

00:00 – Intro
02:59 – What is the difference between ‘realized’ and ‘unrealized’ income?
04:53 – What is the difference between ‘direct’ and ‘indirect’ taxes?
07:30 – Would a national sales tax be constitutional?
10:45 – What did the Moore’s own, and what did the IRS assess?
14:01 – A summary of the Moore situation.
18:08 – Can taxing unrealized gains force companies to shift their investment strategies?
22:40 – Will a wealth tax have the effect people think it will?
27:48 – Do we anticipate any benefits coming from this case?

 

Looking for more on Joe Bishop-Henchman?
Website: www.ntu.org 

Tom Wheelwright, #CPA is a Best-Selling Author, Entrepreneur & Worldwide Authority on Tax. https://wealthability.com/tom/

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 DISCLAIMER: WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.

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