SUMMARYCarter Cofield, a tax strategist and financial expert, joins the show to break down the biggest tax-saving strategies that business owners and entrepreneurs often overlook. He shares his personal journey, detailing the mistakes he made early on by hiring cheap, ineffective accountants and the costly process of fixing those errors. His insights focus on proactive tax planning, leveraging legal loopholes, and ensuring financial organization to maximize profits and minimize liabilities.Beyond taxes, the conversation dives into business-building fundamentals, emphasizing the importance of hiring the right team to scale beyond seven figures. Cofield also reveals his top strategies for social media success, explaining how consistency and daily engagement transformed his online presence into a powerful business tool. Whether you're an entrepreneur looking to save money on taxes or an aspiring business owner aiming to grow online, this episode delivers actionable insights that can change your financial future.CHAPTERS02:35 - The Mindset Shift That Changed Everything04:50 - How Taxes Can Make You Rich07:15 - The Tax Loopholes You’re Not Using09:30 - How to Avoid Costly Tax Mistakes11:45 - The Secret to Staying Organized with Finances14:00 - The Right Way to Write Off Big Purchases16:20 - Finding the Best Tax Strategist (And Avoiding Bad Ones!)18:40 - Building a Multi-Million Dollar Business from Scratch20:55 - Social Media Secrets for Explosive Growth22:30 - Where to Find the Best Tax AdviceGUEST DETAILSGuest Name: Carter CofieldCompany: Melling & MoneyYouTube: Melling & MoneyInstagram: @Cofield_AdvisorConnect with Rudy Mawer:LinkedInInstagramFacebookTwitter
Full Episode
If your tax strategist can't tell you before you hire them how much money they're going to be able to save you, walk away. Because we work for all of our clients for free. I know how much I'm going to save you before I pay you. So I'm an investment more than I am a call.
Yeah, I always say that. I say the best attorneys and accountants should save you money, not cost you money. It's an investment. So if someone's listening that's in that income bracket, maybe doing a mil or two a year growth, and they're taking home three, four, five, 600K. What are some other more advanced things they're not thinking of? Spending money for a deduction is development.
But investing money to get a deduction isn't even better. Another strategy that I think is big in today's space is...
My name is Rudy Moore, host of Living the Red Life podcast, and I'm here to change the way you see your life in your earpiece every single week. If you're ready to start living the red life, ditch the blue pill, take the red pill, join me in Wonderland and change your life.
What's up, guys? Welcome back to another episode of Living the Red Life. Today, we're going to talk about your favorite topic.
taxes i'm here with my friend carter he is one of the top tax experts you've probably seen him on social media with the viral reels but here we go let's talk taxes welcome to the show buddy happy to be here brother so fun topic yeah right yeah yeah i don't actually mind it because i've learned it yeah your job is to educate entrepreneurs like me 10 years ago that had no clue yeah what the heck to do with taxes right so how did you get into this
Well, so it was funny because we all want to make money, right? And so when I started working in corporate America in the tax field, our clients would make a lot of money, but they were really upset because they were paying a lot of money in taxes. So I learned very early on that it's not about how much money you make. It's about how much money you can't, right?
And so I decided I want to leave corporate America and start a company where I can just help entrepreneurs save on taxes because we work the hardest. We put our butt on the line. We do everything. And then a silent business partner says, hey, you made a million. I want to take 50% of that. And that's not fair. So I found out we can do two things.
We can get upset about it or we can get smart about it. So that's what I decided to do.
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