Top critical review
W2 Wage Earners Don't Bother Buying
Reviewed in the United States on May 20, 2019
According to this book, the only way to save money on your taxes is by starting a business, becoming a landlord, or investing in high risk commodity based things like oil wells, farms, and wind mills. You’re out of luck if you are a W2 based wage earner, just pay your taxes and enjoy being broke.
This book is full of ridiculous ideas but, here are few of the more nonsensical tax saving strategies: Start a business and hire your kids. Start a business and make your kids partners. Trade stocks and options in your IRA.
The list goes on and on. And the tax savings examples are just as ridiculous...one example uses a wage earner in the 40% tax bracket...really? The tax system is tiered and the highest tier is 37%. In fact , the entire book is chock full of over simplified examples showing how financially awesome it is
to be an entrepreneur or landlord. I guess if you hate your job and are ready for a change, this book can certainly give you hope that one day, if you can be successful at some form of entrepreneurship, high risk investing, or being a landlord, you may be able to save money on your taxes. For the rest of us, we’re stuck.