Brian Boyd

A deduction is a percentage off of your gross income that then generates your liability.

You always want credits if you can get them.

Deductions are great to have, but remember, you're only getting that deduction at a percentage.

A credit, that's a whole other world.

It changes your tax profile.

And quite frankly, if they're going to offer you credits, for example, in affordable housing, and you say, let's say you do affordable housing in a qualified opportunity zone.

You hold that asset for 10 years and on the disposition, you get a step up in basis at the fair market value.

I mean, that was designed just for real estate, and it's a game changer.

And if people would look at the tax code as what opportunities are available as opposed to what penalties am I trying to avoid, I think the mindset changes the paradigm, and that would really open up a lot of wealth creation for our listeners out there.

Yeah.

And you know, quite frankly,

I almost blame our educational system, right?

So we graduate high school and we don't know how to balance a checkbook.

We don't know anything about taxes.

We certainly don't know how to fill out a 1040EZ, which is the form you fill out when you're working at McDonald's in high school, right?

So we don't know anything about that.

It takes sitting down and actually saying, okay, this is a content that I don't know anything about.

And I've got to read it.

I've got to learn about it.

Well, how do you do that?