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The Rich Somers Report

Tax Tips & Secrets from America’s Leading Tax Strategist | Karlton Dennis E229

The Rich Somers Report

Rich Somers

Business, Entrepreneurship, Investing

5910 Ratings

🗓️ 15 August 2024

⏱️ 72 minutes

🧾️ Download transcript

Summary

On this week's episode, Rich sits down with Karlton Dennis, one of America's Leading Tax Strategists who focuses on "Tax Free Living" with compliance of Federal and State Tax regulations. Carlton is the Founder and CEO of Tax Alchemy, a firm specializing in sophisticated tax planning. They dive deep into topics like How to Write off a Private Chef, Revokable vs Irrevokable Trusts, STR Loopholes and placing your spouse or child on your payroll as a business owner. You'll also learn some o...

Transcript

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0:00.0

Get into multifamily right now.

0:02.4

Like this is the time for multifamily investing.

0:05.4

If you can just weather the storm right now,

0:08.0

you're going to come out at the other side.

0:09.6

So grateful you just jumped in, but so many people are like,

0:11.6

oh, I'll just wait till the interest rates cut and there's no inventory so what

0:14.5

do you think is gonna happen the prices shoot back up right so now you're

0:17.6

overpaying for an asset and your down payment that you've been saving up

0:21.1

now went from a hundred grand to now you need

0:23.4

200 grand or two hundred grand to three hundred grand so are you really saving

0:27.3

money I think it's more smart to understand the tax game how you can leverage real

0:31.6

estate to create more cash flow for you so you can jump in even

0:35.3

though these interest rates might scare you a little bit knowing that they're going to eventually

0:38.4

come down in the future.

0:40.5

Welcome to the Rich Shummers Report where we talk real estate, business and wealth

0:44.0

building all while keeping it real. No fluff, no BS. I hope that you enjoy the

0:48.4

show.

0:50.4

All right guys, welcome to another episode of the report today. We got some sunshine out here in San Diego and we got a big meetup tonight but I'm very excited because I got a special

1:04.2

guest who's in town from Newport Beach, California. He's a good friend of mine, he's an investor in our

1:09.4

fund, he's doing really big things in the legal space and the tax space. I got my man

1:14.3

Carlton Dennis Carlton welcome back to the show for a second time. Absolutely man

1:18.4

thank you for having me on excited to be back on here. Yeah likewise man

...

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