Podcasts · The Calum Johnson Show

The Tax Strategist: They Lied To You! How the 1% Pay Less Taxes Than Everyone Else | Carter Cofield

5 Feb 2024 · 1 h 19 min · Explicit

Get your free consultation with Doola: https://rebrand.ly/doola Free agency: https://rebrand.ly/FreeAgency Carter Cofield, a licensed CPA & tax strategist. After losing both his parents at 16, Carter worked his way through the hardship and got a job as a CPA in one of the big 4. Years later, he quit to become a tax consultant and has now helped multiple businesses save millions on taxes. In this episode, he shares everything you need to know to set a perfect tax foundation for your business and save a lot of money in compliance with IRS rules 00:00 Intro 1:30 Why Carter quit his job 04:37 How to find your way out 07:08 There are TWO things you need to become wealthy 08:58 How to make the tax system work for you! 22:37 You are in control of your life 31:11 How to make great decisions (Alex Hormozi) 33:27 The regret minimization framework (Jeff Bezos & Amazon) 36:43 The framework for building the perfect tax foundation for your business 40:43 How to choose where to set up your business 42:41 Don't do this with your business accounts 47:02 How to turn all your personal expenses into 100% tax deductible expenses. 50:30 Do you need a accountant and book keeper? 53:20 FOUR things to check before choosing an accountant. 1:02:07 How to bring down your taxable income? 1:05:13 How to navigate hiring Employee vs Contractors (and international workers)? 1:08:39 Should you use Paypal, Venmo & Zelle for your business? 1:11:00 How to organize your business. Follow Us! Instagram: https://www.instagram.com/calumjohnson1 Twitter: https://twitter.com/calum_johnson9 Guest: https://www.youtube.com/channel/UCa1AU4m48UkKPGi1wK70Atg?sub_confirmation=1 Carter's Free Tax book: https://rebrand.ly/TaxFreeBook