How to Live Tax-Free as an Entrepreneur with Carter Cofield: An EOFire Classic from 2022

Entrepreneurs on Fire

John Lee Dumas

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4.8 • 4.1K Ratings

🗓️ 5 October 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

From the archive: This episode was originally recorded and published in 2022. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.

Carter Cofield is a licensed C.P.A who's goal is to teach entrepreneurs how to live tax-free.

Top 3 Value Bombs

1. As an entrepreneur you are creating jobs, which stimulates the economy, so the government has massive tax breaks for entrepreneurs. The sad thing is, 90 percent of entrepreneurs have no idea

2. If you're saving 40 percent every year on taxes, that's more money to pass down to your kids, and to future generations. We need to start thinking and knowing that we have more control of our money

3. Every company is entitled to an annual meeting, and it can be wherever and whenever they want it to be. Do business with your friends and/or your family so you can host an annual meeting and have fun - and deduct 100 percent of your trip.

200 plus Tax Deductions For Business Owners And Side-Hustlers. Get 70 percent off - Tax-Free Living E-Book

Transcript

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0:00.0	Who's ready to rock today, Fire Nation? JLD here and welcome to Entrepreneurs on Fire,
0:07.6	brought to you by High Level, the all-on-one sales and marketing platform.
0:11.7	On today's classic episode, we'll be talking about how to live tax-free as an entrepreneur.
0:16.4	To drop these viabombs, I are brought to Carter Cofield into EO Fire Studios.
0:20.0	Carter is a licensed CPA
0:21.3	whose goal is to teach entrepreneurs how to live tax-free. And today we'll talk about how as an
0:26.3	entrepreneur you are creating jobs which stimulates the economy. So the government has massive tax
0:31.0	breaks for you. And if you're saving 40% every year on taxes, that's more money to pass down to
0:36.3	your kids into future generation.
0:38.4	So how to get there and owe so much more. And a big thing for sponsoring today's episode goes to
0:43.1	Carter and our sponsors. Are you ready for the ultimate all in one platform for entrepreneurs,
0:49.9	marketers, coaches, and agencies? Build funnels, automate follow-ups, manage clients, and even
0:55.7	white label your own software. Say hello to our featured partner high level and visit
1:02.1	high level fire.com to start your free trial today. Fire Nation, success isn't a solo journey. It's about who you surround yourself with.
1:13.6	That's why I built the Freedom Circle, a powerful community of entrepreneurs, ready to support,
1:19.2	inspire, and share the ideas that move you forward. Visit Freedom-Serkle.com to learn more.
1:27.9	Carter, say what's up to Fire Nation and share something that you believe about becoming
1:32.9	successful that most people disagree with.
1:36.3	First of all, what's up, Fire Nation?
1:37.7	I'm happy to be here.
1:39.6	I think that a lot of success gurus tell people to try to have a, to try to major in
1:48.2	skill sets that, in different skillsets.
	...

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