Entrepreneurs on Fire How to Live Tax-Free as an Entrepreneur with Carter Cofield: An EOFire Classic from 2022
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Oct 5, 2025 Carter Cofield, a licensed CPA, empowers entrepreneurs with tax strategies to minimize taxes and live tax-free. He reveals that the government offers substantial tax breaks for those creating jobs. Discover how to transform ordinary expenses into write-offs and even make vacations deductible by combining business with leisure. Carter also shares the benefits of hiring your kids in your business, and using board meetings as opportunities for tax-deductible travel. Unlock the key to legal tax minimization and learn how to reinvest the savings!
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Tax Code As An Incentive System
- The tax system is an incentive structure rewarding behaviors the government wants to encourage.
- Follow those incentives and you can legally pay little to no tax by aligning with the code.
Be On The Right Team
- If you want to reduce taxes, become an entrepreneur or investor to get favorable tax treatment.
- Align your activities with government goals like job creation or property investment to access tax breaks.
Leverage Ordinary And Necessary Deductions
- Use IRS §162 to deduct expenses that are ordinary and necessary for your business.
- Convert personal items like phones and home office space into partial business deductions when legitimately used for work.
