Rich Dad Poor Dad book chapter- 9 detailed summary

 Chapter 9 of "Rich Dad Poor Dad" is titled "The History of Taxes and the Power of Corporations." In this chapter, author Robert Kiyosaki discusses the history of taxation and the advantages of forming a corporation.

Kiyosaki begins by explaining that taxes were first introduced in ancient civilizations as a way for the ruling class to collect revenue. He goes on to discuss how taxes have been used throughout history to finance wars and fund public projects. However, he argues that taxes have become more burdensome for the middle class in modern times.

Kiyosaki then introduces the concept of a corporation and explains how it can provide significant tax advantages. He discusses the differences between a sole proprietorship, a partnership, and a corporation, and explains how each is taxed differently. He notes that corporations can take advantage of deductions and credits that are not available to individuals.

Kiyosaki goes on to explain that wealthy individuals often form corporations to minimize their tax liabilities. He suggests that the middle class can also benefit from forming a corporation, as it can provide a way to reduce taxes and build wealth. He notes that corporations can provide additional benefits, such as limited liability protection and the ability to raise capital.

In the second half of the chapter, Kiyosaki shares a personal story about how he and his wife formed a corporation to minimize their tax liability. He explains that they were able to save a significant amount of money by taking advantage of tax deductions and credits.

Kiyosaki concludes the chapter by emphasizing the importance of understanding taxes and the advantages of forming a corporation. He suggests that individuals should educate themselves on tax laws and consider forming a corporation to achieve financial success.

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Chapter 10 is coming soon 😊😊 Pls stay tuned.