42: Real Estate Tax Strategy, Writing New York Times Best Selling Books, and Building a Virtual Accounting Firm with Diane Kennedy
Jul 22, 2019
Diane Kennedy shares her path to becoming a CPA, becoming Robert Kiyosaki’s tax advisor, and publishing one of the first books in his Rich Dad Advisors series. She talks about her writing process, the key to publishing New York Times best sellers, how the publishing industry has changed, and why she does independent publishing now. She also talks about her entrepreneurial journey, how she built and grew her accounting practice, and how she transitioned to a location independent infrastructure. Diane then explains the tax advantages of buying and holding residential investment property. She talks explains ‘deprecation’, ‘accelerated depreciation’, ‘1031 exchanges’, and the ‘real estate professional’ status, and shows why real estate is the most tax-advantaged asset class in the U.S.. She then explains the tax benefits of being a business owners, and how quick and easy it is for anyone to start a business on the side and start taking the tax deductions immediately. Diane also talks about her world travel and the way she designs her lifestyle, having been to 40 countries. She explains the Foreign Earned Income Exclusion, and how American’s who qualify can shelter over USD $109,000 of earned income per year while traveling the world and running their businesses remotely. Diane also talks about the dynamics of doing business with her husband Richard, and shares her approach to parenting, including how she adopted and raised her son David who has now also become a business owner. Full show notes available at www.TheMaverickShow.com