TMWheelwright

TMWheelwright

Tom Wheelwright is the founder and CEO of ProVision. He has a Masters of Professional Accounting, is a CPA, and is an adjunct Professor at Arizona State University. He has spoken at numerous seminars, including Rich Dad, T. Harv Eker and his own.

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TMWheelwright Free Articles

Don't Drive By This Tax Deduction!

Have Your Business Reimburse You for Its Use of Your Personal Vehicle Your business can reimburse you for allowing it to use your car - even if you are the one using it in the business!

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3 Tax Strategies to Maximize Your Tax Benefits Even When Your Income is "Too" High

The tax law offers many tax deductions, credits and other benefits that can save a taxpayer thousands of dollars every year. However, many of these tax benefits are eliminated when a taxpayer has income that is "too" high. Knowing how to legally get around these limitations can save you thousands in taxes!

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Here's What Businesses Need to Know about the New Tax Law

The recently enacted "American Recovery and Reinvestment Act of 2009" (2009 Economic Stimulus Act) includes a wide-range of tax incentives. The new law extends this temporary benefit for qualifying property purchased and placed into service in 2009.

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Is Your Investing a Business or Just a Hobby?

You really don't hear about great fortunes being made by investors. Ever wonder why? It's because business done right provides the most leverage, greatest velocity, and least amount of risk of any money-making activity.

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Top 3 Reports Every Business Owner and Investor Must Have

A question I commonly hear is what reports should I use for my businesses and investments? I have several customized reports I use, but today, I'm going to share the 3 standard reports I use - these are reports that can be pulled from my accounting software. I use QuickBooks but these reports are standard in all accounting software packages.

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The Big Reporting Mistake

What I find missing most often in wealth strategies is reporting. I find it amazing how so many people think they don't need reporting. Some think they will be so successful that they don't need a report to tell them that. Others think that reporting is just for their accountant to do their taxes. And, others think they aren't big enough to need reporting.

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5 Reverse Tax Planning Tips

What is Reverse Tax Planning? Normally tax planning focuses on reducing taxable income and taxes. Reverse tax planning does the opposite and may actually increase taxes. Why is this a good thing?

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3 Tips to Start the New Year with Your Wealth Building on Track

It's that time of year when resolutions are made. If you are one of the many who have a resolution that involves your finances, you'll want to read this article. Studies show that less than 50% of resolutions are kept so it's vital to get started on the right track.

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3 Tips for Moving Your 401(k) to an IRA

In today's business world, people should expect to change employers a few times before retiring. When you change employers, it is common to be asked if you will keep your 401(k) with your former employer or roll it into an IRA. Here are three steps to make your transition easier.

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3 Reasons Why You Need to Know the Basics of Bookkeeping

One area that almost all of my clients and prospects need to increase their knowledge on is bookkeeping. The issue? They don't understand the rules of bookkeeping. After all, they aren't accountants.

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Rich v. Wealthy: The BIG Difference

Is There a Difference Between Being Rich and Being Wealthy? I have often thought over the past couple of years about the difference between being rich and being wealthy. Is there a difference? If so, what is it? And how do we become wealthy?

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The Tax Return Trap

Today my team and I are wrapping up the month of October with our annual Halloween office party. It's a nice way to end the month, which is always one of the busiest months at the ProVision office. One of the reasons October is always a busy month is because of the October 15th tax deadline. It's one of the biggest deadlines because for many, it is the absolute last date to timely file many types of returns.

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The BIG Passive Income Mistake!

I've been speaking at several seminars this fall. My topic of choice is wealth strategies because wealth strategies cover it all - not just wealth, but taxes and business too. Plus, the topic of wealth strategies takes me all over the world to speak because wealth strategies cross over international borders.

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The Financial Markets Rescue Bill and How it Impacts Your Taxes

Earlier this month, the President signed into law the Emergency Economic Stabilization Act of 2008. The financial markets rescue plan is one of the main components of the new law, but the new law also includes over 100 tax provisions!

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The BIG Secret to Creating Wealth and How to Take Action and Not Be a Statistic

The big secret really isn't a secret. Many of you will read this big secret and think to yourself, "Of course! I know that! Tell me something I don't know!"

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