
The Rich Somers Report How the Wealthy Pay $0 Taxes (Legally) : Tax-Free Wealth Strategies | Carter Cofield & George Acheampong E426
Nov 20, 2025
Join tax strategist Carter Cofield, known for his innovative tax strategies, and wealth management expert George Acheampong, as they unravel how the wealthy can legally pay $0 in taxes. They delve into eye-opening tactics like self-rentals as a write-off, the 'buy-borrow-die' model for tax-free wealth access, and strategies that allow rental properties to offset W-2 income. Discover the benefits of hiring your kids, trust distinctions, and how to use short-term rentals for maximum tax efficiency. Transform your understanding of wealth-building!
AI Snips
Chapters
Books
Transcript
Episode notes
Leverage Self-Rentals For Big Deductions
- Do use the self-rental strategy by renting a business-owned building (like a content studio) to your operating company.
- Run a cost segregation to claim Section 179 and bonus depreciation without real estate professional hours.
Buy, Borrow, Die: Tax-Free Liquidity
- Do implement the buy-borrow-die approach: buy appreciating assets and borrow against them instead of selling.
- Use life insurance to cover loan balances so heirs inherit debt-free assets and get step-up in basis.
Step-Up Basis Multiplies Estate Efficiency
- Step-up in basis can eliminate capital gains tax when assets pass at death by resetting basis to fair market value.
- Combine that with life insurance to pay debts so heirs receive clean, stepped-up assets.




