Featured Coaching Excerpt - Notes & Transcript, Part 1
Step #6: Don’t Take Tax Advice From Wesley Snipes
Fun Factoid: “Snipes went on trial in January for failing to file income taxes returns between 1999 and 2004, during which he made an estimated $38 million from movie projects such as the popular vampire trilogy Blade. Snipes was convicted on three misdemeanor counts but was acquitted of serious felony charges.” -Brandi Stewart (Snipes' jail time: A tax-protest 'wake-up call' - CNN Money)
Infomercial Personality Kevin Trudeau: American author, infomercial salesman, and convicted fraudster who has promoted various health, diet and financial remedies that many consider unsubstantiated.
Lesson Nugget: Get tax advice from a professional only!
Step number six: Don't take tax advice from Wesley Snipes. The big overarching principle we're trying to say here, is everybody's watched these late night infomercials where they're like, "You can find a way to not pay the government anything! "And you can get a bunch of money from the government "and all you've got to do is just file the secret loophole!" You know, you go the the library to find a book on like, "The Secret Loopholes and How to Make Money "by Writing More Stuff Off". Consider the source if the person who wrote the book is like Kevin Trudeau. I want to make sure we get that on there. Kevin Trudeau, he is definitely going to jail. I think he is either in jail or he's currently going through litigation. Don't read his books. Put those things down, man. I mean, look up, consider the source you're taking financial feedback from. I always recommend you hire an expert. Get an accountant, get somebody who knows what they're talking about. Have them help you. But don't take tax advice from just random people. Don't do that! That's not good. Do not do that. No, no. If The Isley Brothers are like, "Hey, we're The Isley Brothers and we have "great music, and we give tax advice," Don't do it. If Wesley Snipes is giving you feedback, don't do it. Do not take tax advice from people who are struggling. Don't do it. Do not. I'm just telling you, there's too many books out there written by people who are under major, major, major, major financial issues, and they're writing books on how to secret write-offs, and just don't do that stuff.