Hard lessons learned by 7 financial experts
Consumer finance expert on radio and TV.
Bought into an apartment complex in Miami in 1985 to take advantage of tax laws that provided $2 in tax benefits for every $1 the investment lost.
Tax laws changed in 1986 and he was hit with a massive tax bill known as a recapture.
“I learned not to make investments just for tax reasons.”
(Source: Consumer Reports,)