My First Million John Lee Dumas On How He Saved $1,000,000 In Taxes By Moving To Puerto Rico, How He Makes His Money, and More
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Mar 1, 2022 John Lee Dumas, a renowned podcaster and entrepreneur behind Entrepreneurs On Fire, shares his bold financial strategies and personal anecdotes. He reveals how relocating to Puerto Rico helped him save a whopping $1 million in taxes and discusses his revenue transparency. Curious about fasting? John reflects on his transformative 10-day fast and its emotional impact. He also dives into innovative marketing strategies for podcast sponsorships, revealing his jealousy towards successful businesses and the dynamics of the podcasting community.
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Income Report Transparency
- Publicly sharing income reports builds trust and inspires others.
- It can also make you a target for scammers or hackers, so be cautious.
Inspiration for Transparency
- John Lee Dumas was inspired by Pat Flynn's income reports.
- This transparency gave him faith in online business and led him to do the same.
Puerto Rico Tax Savings
- John Lee Dumas was paying seven figures in taxes annually.
- Moving to Puerto Rico allowed him to pay a 4% corporate tax and 0% capital gains.
