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1 most underutilized way tobuild wealth.
Your federal and your state taxes are probably the biggest expense a middle-class family has, Cardone told GOBankingRates.
1, reduce your tax bill thats what the wealthy do.
Billionaires pay about 8.3% of their annual income in taxes, and the middle class pays double that.
To reduce your tax bill, you have to discover the loopholes, Cardone said.
Here are some of theloopholes Cardone recommends for paying less in taxes.
I can literally divert 14 days times whatever the rental amount of my house would be to my company.
I can do that 14 times for 14 days $140,000 a year.
Turn your freeloaders into a write-off.
All the interest is deductible with no limitations, Cardone said.
All the property taxes are deductible with no limitation.
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