2 Your Health: Warren Buffett Saves Taxes and Finds Unique Investments

Dr. Harold Wong

A Sept. 25, 2020, Motley Fool article by Maurie Backman was titled “Why Does Billionaire Warren Buffett Pay a Lower Tax Rate than His Secretary?”

“In a 2007 interview, Buffett explained that he took a survey of his employees and compared their tax rates to his. All told, he found that while he paid a total tax rate of 17.7%, the average tax rate for people in his office was 32.9%.” The reason is that Buffett has kept his salary to only $100,000 for at least three decades, and most of his income is qualified dividends and long-term capital gains, which is taxed at a much lower rate than wages and interest income.

For normal folks with taxable incomes under $1 million per year, there’s a more powerful way to save taxes. If one purchases a $70,000 solar reefer, leased out to giant food companies, one will receive a 30% solar tax credit = $21,000, which reduces one’s federal income tax by the full $21,000. In addition, one may be able to deduct $48,790 to $59,500 in year one. For a typical married couple filing jointly, this will save them about $35,000 of income tax and offset all the tax on their first $190,000 of federal taxable income.

The Inflation Reduction Act, passed Aug. 16, 2022, allows one to recover up to all the federal tax paid in the last three years. In addition, one can do massive Roth IRA Conversions, using the solar reefers to offset the tax.

Buffett’s single best stock investment of the past year, Marubeni, is trying to buy into the company that has invented the only zero-emission technology that is commercially viable (according to the state of California). Marubeni’s stock has more than tripled in price since the end of 2020. This technology cuts the diesel bill in half for giant grocery and trucking companies and saves 20 lives each year by reducing dangerous diesel pollution. This technology is also the most powerful way to reduce income tax in today’s tax code. Would you like to invest in the Tesla of the grocery and trucking industry?

Attend my Free Live Seminars: Wednesday, Oct. 18, at 6 p.m. and Thursday, Oct. 19, at 6 p.m. at Hyatt Place, 3535 W. Chandler Blvd., Chandler, AZ 85226. The seminars are followed by a Free catered meal. The topic is “Advanced Tax Strategies!”

Free Tour/Workshop at Solar Reefer (Refrigeration) Factory: Saturday, Oct. 28, from 9 a.m. to noon. The topic is “How Solar Reefers Can Reduce Taxes to $0 and Earn a Steady 10-14%!” Lots of tasty refreshments served!

The location is Advanced Energy Machines, 4245 E. Norcroft Street, Mesa, AZ 85215, one-quarter mile southwest of McDowell and Greenfield Roads.

To RSVP for the seminars or to schedule a free consultation, please contact Dr. Harold Wong at 480-706-0177 or [email protected]. His website is www.drharoldwong.com.

Dr. Wong earned his Ph.D. in economics at University of California/Berkeley and has appeared on over 400 TV/radio programs.