Get Rich Education podcast show image

Get Rich Education

Real Estate Investing with Keith Weinhold



Listen, download, subscribe

Are We In A Recession? IRS Audits Increase with Tom Wheelwright

• 41 min

Is the economy healthy or unhealthy? We’ve had two consecutive quarters of GDP contraction. High inflation and supply problems persist. On the other hand, we have a strong jobs market, low unemployment, and high rent increases. Ultimately, the NBER decides whether or not we’re in a recession. Today’s guest, Tom Wheelwright of Wealthability, tells us why he thinks we’re in a recession.  I share with you the exact rent increase numbers I’ve had on my rental single-family homes. Historically, a recession occurs every five years, on average. Whether we’re there yet or not, I believe there’s a likelihood of a recession soon. Tom thinks whether or not a recession is declared is important; it affects consumer sentiment. He breaks down the new “Inflation Reduction Act”. It does not appear to help reduce inflation.  Rather, it appears that it will: increase union wages, enact climate change policy, add taxes to pharmaceuticals, hurt small business, and increase IRS enforcement. “People who have never seen an IRS audit will see IRS audits.” -Tom Wheelwright Resources mentioned: Show Notes: Get started on lowering your taxes with Tom Wheelwright: All U.S. Employed Persons: 30-Year Mortgage Rate History (gray bars are recessions): Get mortgage loans for investment property: or call 855-74-RIDGE  or e-mail: JWB’s available Florida income property: or (904) 677-6777 To learn more about eQRPs: text “GRE” to 307-213-3475 or: Available Central Florida new-build income properties: Analyze your RE portfolio at: (use code “GRE”):  Best Financial Education: Get our free, wealth-building “Don’t Quit Your Daydream Letter”: Our YouTube Channel: Top Properties & Providers: Follow us on Instagram: @getricheducation Keith’s personal Instagram: @keithweinhold

Get Rich Education RSS Feed

Share: TwitterFacebook

Plink icon