Navigating Tax Strategies for Wealth Building with Scott Phillips

Perennial Pride

Joining Tom in today's episode is Scott Phillips, founder of SDP, about wealth building strategies, particularly focusing on oil and gas investments. Scott shares his personal journey, insights into tax strategies, and the importance of diversification in investment portfolios. The conversation delves into the tax benefits associated with oil and gas investments, the risks involved, and the future of the industry in a changing economy. Scott emphasizes the need for careful planning and understanding one's financial situation before making investment decisions. Tune in to hear more about how tax benefits are not loopholes, but incentives.

Highlights 02:03 - Insights from owning businesses: Reducing tax concerns. 04:41 - Early exploration into oil and gas tax strategies. 06:45 - Importance of understanding tax implications in investments. 08:06 - Learning cycles of investment: Oil vs. stock market. 09:52 - Tax benefits of oil and gas investment explained. 13:08 - Why government offers tax incentives for drilling. 15:00 - Technology advancements lower oil production costs. 19:39 - Ideal times to invest in oil and gas. 22:43 - Addressing the perception of oil's future amid alternatives. 26:46 - Environmental impact and the industry's response.

Episode Resources

• Connect with Tom Suvansri
• https://perennialpride.com/
• https://www.facebook.com/perennialpride/
• https://twitter.com/perennialpride
• https://www.youtube.com/channel/UC6N7YVoDx7BSRdiYRRb1BiA
• Connect with Scott Phillips
• https://www.linkedin.com/in/scottphillipssdp

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