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Ep.57 -Tax Tips from Passive Income Coach Joey Mure

IMPACT Agent Podcast

Release Date: 04/09/2019

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IMPACT Agent Podcast | 57 | Joey Mure

In this episode, Jason Will speaks with Wealth Without Wall Street financial coach Joey Mure. Joey is a long time practitioner of infinite banking and shares his five pillars of creating passive income on the road to financial freedom. Learn how to benefit from the use of assets that you already have, life insurance, real estate investments, managed cash flow, and some little known helpful tax codes and strategies. Lastly, Jason and Joey talk about the upcoming IMPACT Agent Conference and the importance of professional coaching in your career and your financial life. It’s time to stop trading money for your time and start investing in your own business.


See & Hear Joey Mure:

Impact Agent Conference 2019
Started by Real Estate Agents for Real Estate Agents.
New Orleans, LA - April 11 - 12, 2019

BUY TICKETS HERE

 

Big Questions:

1. How do you build Wealth Without Wall Street?

2. What is passive income?

3. What are some little known tax codes that can benefit a sole proprietor by redirecting money into passive income?

4. What is the differences and benefits of a tax accountant and a tax strategists?

5. What is a realistic business outcome from investing in a year of professional coaching?

 

Joey Mure’s Wealth Without Wall Street 5 Pillars

1. Cashflow is just simply the money that is going out the door, unnecessarily, or unexpectedly that I can get coming back towards me. Be more strategic with how you pay debts off so that it increases your cash flow.

2. Tax strategy. Pay Uncle Sam less so that you can use that money to create passive income and personal wealth.

3. Life insurance. It's a way that we can create our own banking system, and use that to fund all multiple passive income assets.

4. Real Estate Investing

5. Lending

 

Resources

Have questions about the tax stuff?
CLICK HERE >>>

Want to know more about building passive income?
CLICK HERE >>>



Quotables & Tweetables

Wealth Without Wall Street exists to give people alternative ways that they can create passive income. - Joey Mure

The purpose of Wealth Without Wall Street, passive income must be greater than your monthly expenses. - Joey Mure

I think the biggest problem that we face, whether we're a 1099 contractor, whether we're a real estate agent, whether we're a business owner or an employee is we're continually trading time for money. - Joey Mure

The goal that a lot of people, like yourself, these experts in passive income, isn't the goal that you want for your clients to be thinking about any extra money that they can create, whether it's tax savings or any extra that they can maybe shave off of their monthly expenses? The goal is to try to generate passive income with that money, not just spend it. - Joey Mure

I can spend that money today on these things that really aren't going to create more freedom for me, or I can use that money to create freedom. - Joey Mure

if your business, the success or failure rests on your health, your ability to get out of bed and work, like if you have an accident or you get sick, ill, if your business just stops, then you don't have a business. - Joey Mure

The E-myth book is about creating a way that you're replacing yourself in each of these roles that are required for your business to grow so that it's not dependent on you in each one of those roles. - Joey Mure

People want to invest in real estate, that's great, 10%, 12%, 15% for real estate returns. Investing in your business, thousands of percent return. - Joey Mure

If you're paying over a $100,000.00 in taxes, you absolutely need to use tax planning as a strategy. - Joey Mure

Tax accountants typically look in the rear view mirror, tax strategists, or planners will look forward, and they'll say, “What is possible in the current tax plan that we can then use to our benefit?” - Joey Mure

As a sole proprietor, there's one small thing that I want to make, that has a big impact, if you could just switch to an S-Corp, that's an LLC, operated as an S-Corp. - Joey Mure

As a business owner, in this case, and escort owner, you can rent your house up to 14 days a year tax-free. You get to rent your house from you; personally, your business will rent it from you personally for 14 days. - Joey Mure

As an S-Corp, and as a C-Corp you actually can, your business can pay you generally speaking up to a 100 days a year where you're working overtime, or on odd hours, or weekends. - Joey Mure

You can get up to $75.00 a day from your business to you personally up to a 100 days a year, so $7500.00 per you, definitely some things that you should be taking advantage of. - Joey Mure

It will never happen if you don't take action. - Joey Mure

Every little bit of passive income that you're able to put aside is putting you light years ahead of your competitors, of your peers. - Joey Mure

I think one of the biggest objections for people that are at that kind of critical point where they're starting to make some money, and they need to go to the next level is coaching. - Joey Mure

The more you pay, the more you pay attention. - Jason Will

If you are holding yourself accountable, you're doing your coaching homework; you're doing everything they tell you to do, then you're looking at doubling your business year over year. - Jason Will

I'm chasing these other things, and right under your nose, you could have an amazing passive income business, you just have to know to focus on it. - Joey Mure

I have never had somebody who is coachable, who has a growth mindset, who said that coaching was the biggest waste of money ever. - Jason Will

You may not find the right coach the first time around. You just keep going. Eventually, you'll find somebody that clicks. - Jason Will