This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Bitcoin (Cryptocurrency), Taxes, & Rental Investing
Summary
When a pseudonymous programmer introduced “a new electronic cash system that’s fully peer-to-peer, with no trusted third party” to a small online mailing list in 2008, very few paid attention.
Ten years later, and against all odds, this upstart autonomous decentralized software offers an unstoppable and globally-accessible hard money alternative to modern central banks.
The Bitcoin Standard analyzes the historical context to the rise of Bitcoin, the economic properties that have allowed it to snowball, and its likely economic, political, and social implications.
Source: Amazon
My Purpose
You can read all the articles you want on Bitcoin, cryptocurrency, and blockchain technology, but its more enlightening to me to dig for more depth with books to understand the history, which is helping me cultivate a deeper understanding of the purpose behind bitcoin, why it may or may not succeed, and where it’s likely headed.
Favorite Thought
Anyone who thinks their refusal of bitcoin means they don’t have to deal with it is wrong. Countries that abandoned their monetary standard for gold went on to become wealthier and stronger nations. Others that lagged and held onto the silver standard are still catching up today economically.
Investing In Rental Properties For Beginners – Buy Low, Rent High: How investing in homes that cost 30k+ in working-class neighborhoods builds wealth fast with only 2–5 properties By Lisa Phillips
Summary
What if I told you that passive income and generational wealth are your birthrights? What if I told you there was a way to RECLAIM wealth by investing in low-priced neighborhoods? That it would be SAFE, AFFORDABLE, and IMPACT communities of color all over the nation? And the cash flow isn’t bad either! I’m Lisa Phillips, and I have helped 1000s of investors gain financial freedom through investing in properties that cost $30,000 to $50,000 in middle-class neighborhoods all over the nation. Helping investors invest locally or out of state is a calling that has helped 1000s of professionals get access to real estate investing in a price range they can afford.
This [book] will teach the ordinary investor how to tailor their investment strategies to their pocketbooks (and no one else’s). You don’t need to ask your parents or friends for loans because the best approach to building a rental portfolio is by purchasing units in modest neighborhoods that offer high rents (i.e., purchase a $44,000 rental that earns $1200 a month in rent). If you’re ready to turn your dreams of being a real estate investor into a reality, then get this rental property investing book and then hit BUY NOW!
Source: Amazon
Favorite Concept
I didn’t realize you could find many brand new homes for meager costs (often outside of your geographic area); this has opened the door wide open for those who don’t want to invest significant amounts of money into their first, second, or third rental property.
What Your CPA Isn’t Telling You: Life-Changing Tax Strategies by Mark J. Kohler
Summary
Tackling the fundamental question asked by all taxpayers – “How can I save on my taxes?” attorney and CPA Mark Kohler empowers frustrated taxpayers to dismiss the common CPA jargon that their tax payment “is what it is” and ignore widely used tax talk like “you just make too much money.”
Kohler reveals eight life-changing tax principles and teaches both wage earners and business owners how to apply fundamental but underutilized tax strategies to achieve substantial tax savings, incredible wealth, and ultimately, a winning pursuit of the American Dream.
Kohler presents wage earners with practical strategies beyond writing off mortgage interest and contributing more to their IRA.
Following the story of a typical family, taxpayers discover the undeniable benefit of owning a side/or small business, how hiring their spouse and children can help their bottom line, the financial windfall that comes with owning rental real estate, and the secret success behind self-directing their retirement plan, which is something 9 out of 10 CPAs don’t know or don’t talk about!
Small business owners uncover new avenues for adding to their bottom line, including saving on health care and legitimate bookkeeping techniques that can put thousands back in their pocket – all illustrated through checklists, charts, and templates available in the additional resources toolkit provided by Kohler.
Source: Amazon
Favorite Part
This entire book offers life-changing tax strategies that will help you strategically tax plan more effectively. I can’t think of my favorite part of the book, and it’s a very tough book to put down.
Who would’ve thought taxes could be so much fun to learn about. I’ve already started a second tax book that I plan to focus on in more detail after completing this one.
Pick Up A Book
If you’re failing at finance or unsure about a specific topic, pick up a book to learn more about it.
I was utterly ignorant of all of these subjects before I started to dive into each of them in more detail. Now I can likely hold a semi-intelligent conversation about any of these three topics – all from the most basic activity: reading.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.