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To Win the Game, You Have to Know the Rules!

Derek Peterson

In Timothy Ferriss' book The 4-Hour Workweek, Mr. Ferriss describes how he won the Chinese Kickboxing National Championship.  He was not a trained fighter and he only even entered the competition on a dare four weeks prior.  How did he do it?  He read and understood the rules of the competition.  I'll let you read the story for yourself in his book, but the long and short of it is that he legitimately was able to compete with opponents three weight classes below his weight and won EVERY match with a TKO (technical knock out) by pushing his opponents off of the fighting platform three times in a single round.  To the dismay of the judges, Timothy Ferriss won the Chinese Kickboxing National Championship in 'his weight class'.  Gotta love them rules...

How does that apply to you as an investor and taxpayer?  You need to know the basic 'rules' of taxation and make them work for you.  While there is a lot more surrounding these topics, the article 'What Investors Need to Know About Passive Activities' by Luis Plascencia, CPA gives you a good foundation for your tax, investment, estate, and wealth planning.