41 min
Are We In A Recession? IRS Audits Increase with Tom Wheelwright Get Rich Education
-
- Investing
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:
www.GetRichEducation.com/410
Get started on lowering your taxes with Tom Wheelwright:
GetRichEducation.com/Tax
All U.S. Employed Persons:
https://fred.stlouisfed.org/series/PAYEMS
30-Year Mortgage Rate History (gray bars are recessions):
https://fred.stlouisfed.org/series/MORTGAGE30US
Get mortgage loans for investment property:
RidgeLendingGroup.com or call 855-74-RIDGE
or e-mail: info@RidgeLendingGroup.com
JWB’s available Florida income property:
www.jwbrealestate.com/gre or (904) 677-6777
To learn more about eQRPs: text “GRE” to 307-213-3475 or:
eQRP.co
Available Central Florida new-build income properties:
www.b2rdirect.com
Analyze your RE portfolio at: (use code “GRE”):
MyPropertyStats.com
Best Financial Education:
GetRichEducation.com
Get our free, wealth-building “Don’t Quit Your Daydream Letter”:
www.GetRichEducation.com/Letter
Our YouTube Channel:
www.youtube.com/c/GetRichEducation
Top Properties & Providers:
GREmarketplace.com
Follow us on Instagram:
@getricheducation
Keith’s personal Instagram:
@keithweinhold
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:
www.GetRichEducation.com/410
Get started on lowering your taxes with Tom Wheelwright:
GetRichEducation.com/Tax
All U.S. Employed Persons:
https://fred.stlouisfed.org/series/PAYEMS
30-Year Mortgage Rate History (gray bars are recessions):
https://fred.stlouisfed.org/series/MORTGAGE30US
Get mortgage loans for investment property:
RidgeLendingGroup.com or call 855-74-RIDGE
or e-mail: info@RidgeLendingGroup.com
JWB’s available Florida income property:
www.jwbrealestate.com/gre or (904) 677-6777
To learn more about eQRPs: text “GRE” to 307-213-3475 or:
eQRP.co
Available Central Florida new-build income properties:
www.b2rdirect.com
Analyze your RE portfolio at: (use code “GRE”):
MyPropertyStats.com
Best Financial Education:
GetRichEducation.com
Get our free, wealth-building “Don’t Quit Your Daydream Letter”:
www.GetRichEducation.com/Letter
Our YouTube Channel:
www.youtube.com/c/GetRichEducation
Top Properties & Providers:
GREmarketplace.com
Follow us on Instagram:
@getricheducation
Keith’s personal Instagram:
@keithweinhold
41 min