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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.
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Carter's Free Tax book: https://rebrand.ly/TaxFreeBook
